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Abstract: This paper aims to present a theoretical framework useful for a qualitative analysis of the general economic system. Under this perspective, a possible path to realize a degrowth economy in a specific territory is shown, mainly thinking about a southern European reality. The reasoning starts from a reflection upon the feature of the utility function, which is conducive to a formulation of a qualitative definition of wealth (the primary goal of the economic process). The logical consequences of this framework lead to some practical indications about the way in which a degrowth reality can be achieved, albeit in a rather limited area. The “Foundation Theory” explains the creation and the action of a hypothetical economic actor – the Foundation – that promotes the transition from the current economic system to a degrowth one.