Globalization has entered a new stage, with new and varying constellations of winners and losers and thus, calls for a new policy paradigm. In contrast to the traditional way of thinking - the welfare state redistributes purchasing power to the disadvantaged to support them in the event of...

This paper argues that the traditional societal contract that underlies the market economy has run its course and needs to be replaced by a new contract, based on a new conception of the "empowering economy." Whereas different societal contracts are relevant to different societies, there must be...