Private gain must no longer be allowed to elbow out the public good

Abstract

This essay critiques the dominance of private profit over collective well-being, arguing that economic systems prioritizing growth and individual wealth accumulation have undermined public goods, social equity, and environmental sustainability. Philipsen examines how essential resources—education, healthcare, and even democracy—have been subordinated to market interests, deepening inequality and eroding the commons. Philipsen calls for a fundamental shift toward an economy that values shared prosperity, sustainability, and the common good over private accumulation, asserting that true progress requires redefining success beyond mere financial gain.