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3. Spotlight on the Australian Social Economy |
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Written by Hugh Morrow
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Saturday, 08 December 2007 |
3.1. The Creation of Social Wealth
The Australian Social Economy forms part of a larger network of institutions, programs and projects that constitute a global economy. The “non-profit sector[15] globally excluding religious institutions is a $1.1 trillion industry”[16]. It employs 19 million fully paid employees, and represents the world’s eighth largest economy. The volunteer work of the sector accounts for over one third of non-profit labour. Its social services and culture-recreation absorb more than half of all volunteer work. And its volunteer presence is especially important in the field of environment and advocacy. This worldwide phenomenon in western economies supports the social good of nations and creates a civil society. It contributes in a significant way to national economies and has captured an increasing interest among contemporary citizens. While the Australian Social Economy does not compare in magnitude, its relative importance for the creation of social and material wealth for Australians is no less than that observed in the global Social Economy.
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