CEMEC: Toward a New Ethical Market Economy for Ethiopia

The Ethiopian Reporter has published an article discussing the concept of a new 'Ethical Market Economy' for Ethiopia, referred to as CEMEC. The article analyzes the limitations of classical and neoclassical economic theories, which often fail to address deep-seated income inequality. It cites data from the World Inequality Database showing that the richest 10 percent of income earners in many developing regions capture the majority of national wealth. The author argues that modern economic frameworks are insufficient for creating inclusive growth. The piece calls for a shift toward an ethical market structure that prioritizes broader economic well-being over outdated microeconomic models.