Governments everywhere are scrambling to save local economies and to avert another potential global economic crisis.
The big question is what happens when the bailout money runs out?
Relying on economies to "roar" back is wishful thinking and risks a prolonged global recession, given the mountain of debt that now has to be paid back.
Trruster provides an alternate approach by expanding the definition of the economic common good beyond profits to include social capital in all its forms as the New Third Way.
This is achieved by including a social responsibility component in its Group & Business subscription fee equal to 1% of revenue. One hundred percent of this revenue is then distributed back into the community through the nonprofit sector.
The nonprofit sector is currently funded by donations, grants and tax incentives. It has always struggled because of the difficulty of getting adequate funding. It could be devastated in a prolonged global recession as funds totally dry up.
Under the New Third Way concept, the nonprofit sector will be funded by corporate social responsibility.
The result will be an ongoing flow of capital into the global economy beyond government bailouts, credit markets and private capital.
As such, it will be the next source of real economic growth, creating jobs, restoring confidence and mitigating the effects of global economic downturns and crises. It will also increasingly become known as the social profit sector in recognition of the importance of social capital in the economy.
We have developed the concept and have the technology to distribute potentially billions of dollars within months and on an ongoing basis, not just to mitigate the impact of the coming global economic recession but to also establish the basis of a new economic model that recognizes social capital in all its forms.