The present work arises from the need to rethink the socialism concept as a result of changes perceived in the early 21st century. Its main thesis is that the current social democratic thinking should consider new ways of understanding the economy. Both the 'economic ethics' and the 'economy for the common good' are changing the point of view of economic fact. On the one hand, the ethics raised by the economist Amartya Sen proposes a new model of economic rationality. On the other hand, the economist Stefano Zamagni recovers the reciprocity concept as an essential part of the economy. Both positions can help to find new social democratic responses to the economic and social challenges currently.
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