In November 2007 Schumacher College organised a think tank bringing together a group of holistic economists who share a vision of a new economic order which can simultaneously bring about ecological sustainability and human wellbeing. The group spent three days at the College exploring practical ways and means of economic transformation and developing a cohesive framework for a new economic order based on the principles of equity, sustainability and spirituality. This first Schumacher College Paper addresses the following questions: What are the key components of an economic system which would successfully achieve poverty elimination, climate sustainability and human fulfilment? How can we bring about systemic change to address the root causes of the present economic crisis rather than treat the symptoms? What kind of economy do we need to protect ecosystems and people's livelihoods at the same time?