Headwing Economics: IAED Launches International Dialogue on Ethical Economic Development

The official poster for IAED's international online forum. (Photo: IAED)

Beyond an Economic Crisis

For decades, the world's economic debate has revolved around familiar questions: How much freedom should markets have? How much should governments intervene?

Yet the defining challenges of the twenty-first century extend far beyond inflation, unemployment, or GDP growth.

The concentration of wealth in the hands of a small number of global corporations, growing distrust of public institutions, and a widespread perception that economic systems no longer serve ordinary citizens have intensified calls for a new development paradigm. Social polarization, political instability, and declining confidence in governance have become increasingly interconnected with economic concerns.

According to IAED, these challenges are not merely policy failures. They also reflect a deeper erosion of ethical values within the institutions that shape economic life. The organization's upcoming forum seeks to explore whether long-term prosperity requires not only sound economic policies but also a renewed moral foundation.

Introducing "Headwing Economics"

At the center of the discussion is Headwing Economics, a conceptual framework promoted by IAED that seeks to move beyond the traditional ideological divide between free-market capitalism and state-centered economic systems.

Rather than rejecting markets or government, the framework argues that both should be guided by universal ethical principles. Markets remain essential for innovation and entrepreneurship, while public institutions are expected to ensure fairness, accountability, and equal opportunity. Together, they should operate within a culture that places human dignity, responsibility, and the common good at the heart of economic development.

The concept also emphasizes expanding access to productive ownership, strengthening institutional transparency, and recognizing the importance of families and communities as foundational economic actors.

While Headwing Economics is not an established school of economic thought within mainstream academia, IAED presents it as a framework for dialogue and interdisciplinary exploration on the ethical dimensions of sustainable development.

A Cross-Sector Conversation

The forum brings together scholars, economists, business leaders, and media professionals, underscoring the belief that today's economic challenges cannot be addressed by any single discipline.

Dr. Gordon Anderson, President of Paragon House Publishers, will deliver the keynote presentation on the relationship between personal ethics and institutional frameworks in building an integral economy.

Michael Greaney, a Certified Public Accountant and Secretary of the Center for Economic and Social Justice, will discuss "The Just Third Way," an approach that advocates expanding access to productive capital and economic opportunity.

The discussion will be followed by reflections from Patrick Hickey, businessman, journalist, and Vice Chair of The Kenny Guinn Center for Policy Priorities. The session will be moderated by Alan Jessen, IAED's North American Coordinator.

By bringing together perspectives from academia, business, public policy, and journalism, the organizers hope to encourage a broader international conversation about the ethical foundations of economic systems.

A Question for the Twenty-First Century

Artificial intelligence, digital transformation, climate change, and geopolitical fragmentation are reshaping the global economy at an unprecedented pace.

Against this backdrop, the central question is no longer simply how economies should grow, but what kind of growth societies should pursue—and for whom.

IAED's forum does not claim to provide definitive answers to the world's complex economic challenges. Instead, it offers an opportunity to reconsider a premise that has often been overlooked in economic discourse: that sustainable prosperity may ultimately depend not only on better institutions, but also on stronger ethical commitments.

If the twentieth century was largely defined by debates over who controls economic resources, discussions such as this invite a different question for the twenty-first century:

Can humanity build an economic system in which freedom, justice, peace, and shared prosperity reinforce rather than compete with one another?

That question may well become one of the defining conversations of our time.

Event Information

Event: Headwing Economics: The Role of Personal Ethics and Institutional Frameworks in Building an Integral Economy

Organizer: International Association for Peace and Economic Development (IAED)

Date: Saturday, August 1, 2026

Time: 10:30 a.m.–12:00 p.m. EST (4:30–6:00 p.m. Vienna time)

Format: Online via Zoom: https://zoom.us/meeting/register/CZgRCiK4RHegsieVp9PCQA?mc_cid=1ad05ea859&mc_eid=0b13c9bd0d#/registration