The following are some nonexhaustive points that are likely to be included in the social covenant:
• Agreement on basic, universal values and ethics. • Consensus on the need to reflect these values in a country’s legislation and regulation, and in the international agreements that define countries’ duties to each other.
• Educational systems that are open to all and that foster equality of opportunity. • A goal of providing good-quality jobs for all those who need them. This focuses in particular on jobs for nongraduates, increasing access to technical education, putting in place apprenticeships, establishing a proactive tax and incentive system, and ensuring industrial strategy is fit for this and the next century.
• Fair rewards for hard work and contributions to society. • Adequate security for savings and assets. • A commitment to reduce inequality and to keep income and rewards within fair bands at the top and bottom of the scale.
• Stewardship of the environment and a commitment to preserving natural capital for the benefit of future generations, as far down as the “seventh generation,” which indigenous people use as a moral metric.
• Stable, socially useful and accountable financial sectors. • Increased opportunities and social mobility. • The promotion of human well-being, happiness, flourishing, and freedom to live a valued life as key societal goals.
• Adapting new ways to measure progress at the national, company, and personal levels. • Measures to ensure personal privacy and public transparency in an increasingly digital world. • Engaging the next generation in designing new models and practices.
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