Briefly discuss the concept of the new global economic system for long term survival of the human race.

The concept of a new global economic system for the long-term survival of the human race involves transitioning from conventional economic models focused solely on growth and profit to a more sustainable and equitable approach that prioritizes human well-being and environmental stewardship. Key elements of this concept include:

1. Sustainability:
   The new global economic system emphasizes sustainability by promoting practices that meet present needs without compromising the ability of future generations to meet their own needs. This involves adopting renewable energy sources, reducing resource consumption and waste generation, and promoting circular economy principles that minimize environmental impact.

2. Equity and Social Justice:
   A critical aspect of the new economic system is addressing inequality and promoting social justice. This includes ensuring fair distribution of resources, opportunities, and benefits of economic development among all segments of society, including marginalized and vulnerable populations.

3. Environmental Stewardship:
   The economic system prioritizes environmental stewardship by integrating ecological considerations into decision-making processes. This involves protecting biodiversity, conserving natural resources, and mitigating climate change through sustainable land use, conservation practices, and pollution reduction.

4. Resilience and Adaptation:
   The new economic system aims to build resilience and promote adaptive capacity in the face of global challenges such as climate change, biodiversity loss, and pandemics. This includes investing in research and innovation, enhancing infrastructure, and fostering community-based approaches to resilience-building.

5. Global Cooperation and Governance:
   Achieving a sustainable global economic system requires enhanced international cooperation and governance mechanisms. This involves strengthening institutions, fostering partnerships between governments, businesses, civil society, and academia, and promoting multilateral agreements to address global challenges collectively.

Overall, the concept of a new global economic system for the long-term survival of the human race emphasizes a holistic approach that integrates economic, social, and environmental considerations to create a more resilient, equitable, and sustainable world for present and future generations. This transition requires transformative changes in policies, practices, and behaviors at local, national, and global levels to ensure the well-being and survival of humanity within planetary boundaries.