The COVID-19 pandemic exposed and exacerbated deep-seated inequalities within global economic systems, casting doubt on the sustainability of neoliberal policies that prioritize growth over human well-being. As lockdowns shuttered economies and supply chains faltered, it became clear that prevailing economic structures often fail to protect communities from the brunt of such crises, particularly those most vulnerable. Even as many nations sought to return to normal post-pandemic, the pandemic had underscored that this so-called normal was deeply flawed, with social and economic inequalities left largely unaddressed. The global economic model, centred on unrestrained growth and market self-regulation, has increasingly come under scrutiny for perpetuating disparities and undermining collective resilience.
Against this backdrop, Marianna Leite and Matti Kohonen advance a compelling vision of how human rights principles could redefine economic policies to foster social equity and environmental sustainability. Their edited book, Righting the Economy, advocates for an approach that situates human rights at the core of economic systems, offering a rights-based framework as a viable alternative to neoliberalism. Through theoretical analysis and practical examples, the volume’s contributors illustrate how a reimagined economy can prioritize community needs over corporate profits, presenting a path toward an economic model capable of addressing today’s urgent challenges.
This edited book is organised into two parts that guide readers from a theoretical critique of neoliberalism to practical illustrations of rights-based economic models. The first section, Framing the Economy, provides an interdisciplinary scholarly foundation by examining the relationship between economic structures, human rights and global regulatory frameworks. Here, contributors highlight neoliberalism’s fundamental flaws, presenting it as a political project that prioritizes market self-regulation over social welfare. The authors characterize neoliberalism as ‘a model focused on maximising profits’ and argue that it often operates ‘in opposition to the needs of communities.’ Chapter 1 frames the discussion by exploring how the pandemic and subsequent economic crises exposed the neoliberal system’s failure to protect vulnerable communities, setting the stage for a comprehensive exploration of rights-based alternatives.
Within this framing, Chapter 2 by Olivier De Schutter critiques the conventional growth paradigm, urging readers to consider post-growth economics that prioritize human and environmental welfare over endless expansion. This theme is echoed in Chapter 3, which discusses the Rights-Based Economy initiative and shifts the emphasis to the role of grassroots movements and social justice advocacy, arguing that community-led efforts are essential to transforming economic policies. Chapters 4 and 5 deepen the discussion with a focus on institutional reforms. Surya Deva and Harpreet Kaur examine both voluntary and binding approaches to business and human rights standards, making the case that true accountability requires binding regulations, not merely self-regulation. Moving further into critiques of neoliberalism, Chapters 6 and 7 explore macroeconomic policies and trade regulations from a human rights perspective. Pedro Rossi promotes decolonial and postcolonial economic approaches, challenging neoliberal market principles and advocating for systems that redress historical inequalities. This is followed by an argument for international economic laws that prioritize human rights in development financing by Celine Tan and Quintero Godinez, suggesting reforms to global governance structures that often privilege corporate interests.
The second section, Transforming the Economy, shifts focus to real-world applications and models that embody a rights-based approach, underscoring the transformative potential of economic reformation. This part begins with examples of decolonial and postcolonial economies, where fiscal and governance structures are redesigned to empower marginalized communities. Asha Ramgobin and Ilcheong Yi showcase initiatives by the African Commission on Human and Peoples’ Rights and the United Nations Research Institute for Social Development, both of which illustrate how controlling illicit financial flows and promoting egalitarian economic models can foster social equity. The latter chapters apply rights-based principles to specific sectors, with analyses of healthcare, gender equity and environmental sustainability. They emphasize the importance of treating health as a fundamental right, implementing gender-sensitive policies and integrating human rights with environmental priorities.
Throughout, the book contributors present empirical evidence to support their arguments, illustrating how rights-based approaches can be practically implemented across diverse contexts. The work highlights that a human rights-based economy is not merely theoretical; it is an achievable framework supported by successful models in different regions. And yet, to prove this ambitious point, the work could benefit from a more concrete discussion of how this transition would play out amidst existing political and economic constraints. The authors present a compelling case for rethinking economic governance, but the practicalities of implementation could be further explored. For instance, while the volume criticizes international financial institutions and trade regulations (chapters 5 and 7), it provides limited guidance on how to counter the influence of entrenched corporate interests that often stymie efforts toward meaningful reform. Furthermore, as well-illustrated in BHR research including by Deva and Kaur in this volume, corporate social responsibility programs and voluntary human rights commitments can falter and function merely as reputational tools for corporations rather than mechanisms for genuine change, largely because they lack enforceability. While the volume critiques these programs, it does not sufficiently explore the underlying power imbalances that allow corporations to dictate the scope of their accountability. The book offers a robust critique of neoliberal economic frameworks, but its engagement stops short of examining how these dynamics could be countered through binding international frameworks or stronger regulatory mechanisms. This omission leaves a gap in addressing how corporate interests might be reined in to ensure that human rights commitments translate into meaningful and enforceable actions.
As a political economist, I would have liked to read more about how the proposed human-rights-based solutions help in balancing competing social, environmental and economic needs, particularly considering the political pressures and fiscal constraints many governments face. Countries in the Global South, in particular, often struggle to implement rights-based economic policies due to debt obligations, limited access to international financing and conditionalities imposed by powerful international organizations. In these contexts, attempts to integrate human rights with economic policy frequently encounter resistance from both domestic and international stakeholders who prioritize market stability and growth over social objectives. Furthermore, while the book’s critique of neoliberalism is compelling, the focus on normative ideals raises questions about the role of capital markets and the adaptability of existing financial structures. The book recognizes the need for transformative shifts in how capital flows are governed, offering important insights into specific areas such as the social and solidarity economy, and the judicial enforcement of socio-economic rights. It also explores innovative frameworks like a feminist and decolonial approach to economic reform and rights-based approaches to health and human rights. Yet, these valuable contributions do not coalesce into a comprehensive strategy for righting the economy, the kind of systemic overhaul required to challenge the entrenched principles of neoliberalism.
Nevertheless, the volume’s strength lies in its ability to inspire a rethinking of economic priorities, and its broad scope provides an essential foundation for discussions of human rights and economic governance. Offering practical pathways to a more just global economy is always going to be a tall order. Yet, by combining theory with diverse case studies that demonstrate how rights-based economic models can challenge systemic inequalities, the book makes a compelling case for the feasibility of this shift. It encourages policymakers, scholars and activists to imagine an economy that prioritizes social equity and environmental sustainability, presenting a vision that, while ambitious, offers a preliminary roadmap for those willing to push beyond conventional growth paradigms.
