In search of a new form of capitalism...
Money makes the world go round. Of this there can be little doubt, at least in economic terms. It is the allocation of capital that determines which ideas come to fruition or which business succeed and grow, and which do not. Capitalism, therefore, plays an absolutely critical role in how our economies function. The traditional form of capitalism is well and truly broken, however. It has for too long focussed purely on financial returns. It has subsequently failed to prepare populations (particularly in the West) to adapt to a more globalised and technology-driven future, failed to take care of the environment in which it operates and failed to address the growing gap between rich and poor. The dangerous rise of Populism in the Western world is a clear result of this failure. Capitalism cannot continue as it has for so long. Something has to change. The capitalism of tomorrow needs to recognise and embrace the enormous and inescapable responsibility that comes with being able to wield such power over all our futures. It’s time for an age of responsible capitalism in which we judge the success of investment not just in financial terms, but also for the social and environmental impact it creates.
Money makes the world go round. Of this there can be little doubt, at least in economic terms. It is the allocation of capital that determines which ideas come to fruition or which business succeed and grow, and which do not. Capitalism, therefore, plays an absolutely critical role in how our economies function. The traditional form of capitalism is well and truly broken, however. It has for too long focussed purely on financial returns. It has subsequently failed to prepare populations (particularly in the West) to adapt to a more globalised and technology-driven future, failed to take care of the environment in which it operates and failed to address the growing gap between rich and poor. The dangerous rise of Populism in the Western world is a clear result of this failure. Capitalism cannot continue as it has for so long. Something has to change. The capitalism of tomorrow needs to recognise and embrace the enormous and inescapable responsibility that comes with being able to wield such power over all our futures. It’s time for an age of responsible capitalism in which we judge the success of investment not just in financial terms, but also for the social and environmental impact it creates.