Roy Swan’s Post

A brilliant new column in Observer by Roy Swan that will unpack how we can strive for a better form of capitalism that can work for all of us, rooted in innovation, prosperity, and fairness. Check it out!!

In Scotland alone, 71% said they are worried about the state of nature in the UK. How can businesses and the civil market economy ease their concerns? This is the 2nd installment of a 3 part series by Timothy Bovy, CEO and Co-founder of Six Sentinels, focusing on "Capitalism in the 21st Century".   #Europe #capitalism #neoliberalism 

This important article from YES! Media, titled "Breaking Up With Capitalism," authored by Marjorie Kelly, discusses the critical view of capitalism and its impact on society and the environment. The author argues that the current economic system prioritises the wealth of the few over the many and the planet, leading to a growing movement challenging this system. The article highlights various alternative economic models that promote a democratic economy, such as worker cooperatives and community land trusts. It also points out the increasing recognition of capitalism's direction being questioned, as evidenced by a Harris poll indicating that half of Americans believe capitalism is headed in the wrong direction. The piece suggests that a shift in collective mindset could be foundational for systemic change, emphasising the power of legitimacy and the potential for societal transformation when that legitimacy is withdrawn. From my perspective and thinking about the current economic system and business models that enable forced labour, extractive capitalism, where procurement is solely predicated on the profit margin has resulted in millions exploited in forced labour in the world's supply chains. We are often told that the customer/consumer demands cheap but that raises the question of who educated whom about cheap in the first place - a clue it wasn't the consumer. The demand for cheap goods, services and labour is the fuel that sustains and increases exploitation. When this is allied to a demand for extractive profit margins by procurement this creates the perfect environment for forced labour to thrive. The profit pressure on the supply chain can not be legitimately sustained. So isn't it time for a rapid transition to a values-based system? #forcedlabour #extractivecapitalism #capitalism #supplychains #esg #systemschange #profit #procurement #ethicsmatter #valuechain #values Nicole Munns, Sasja Beslik, Daniel Neale (FICRS), Martin Buttle, Matt Crossman, Fuzz Kitto, Giles Bolton, Patrick Quinlan, Unseen UK

Capitalism is not just moral because it fairly meets the existing needs of society. It is moral because it distances us from barbarism. When humans can easily meet their basic needs, we have time and energy to focus on areas such as leisure and beauty, increasing the likelihood of finding new solutions to each other's problems. This is one of the reasons why Principled Business is committed to those who generate revenue and solve existing problems. We want to encourage you to take pride in advancing free-market capitalism and facilitating the connection of people who drive the economy, bringing individual freedom to their communities. Society needs to understand that profit is not bad, but rather what drives social development. In September 2024, you have a meeting with your peers. The Principled Business Conference debuts in New York, and we want you to be there! Visit the website in the comments and register on the waiting list to secure a 20% discount on your ticket. You won't want to miss the chance to be officially a #ProudCapitalist, will you?

OK, this is better than another mindless tout for the oxymoron “stakeholder capitalism” (aka “corporatism,” aka fascism). But “shareholder capitalism” is redundant, right? OF COURSE the owners of a firm should be the sole controllers and beneficiaries of its acts. That’s capitalism, not a mere “variety” or version of it. But the model has been attacked since the fascistic 1930s. Friedman last defended the model in 1970, but few have dared defend it since. Notice the book title — insisting that “the pursuit of profit benefits ALL.” Why the collectivist standard of justification? Why the apologetic stance? In fact, profit seekers benefit, non-seekers don’t, and regardless, no one is harmed in the pursuit. Contra Smith and Marx, profit isn’t taken from labor, isn’t exploitative, and contra neoclassical economists, isn’t superfluous. It’s the net creation of wealth — value-added — so if you’re humane, you applaud profit and hope it’s as large as possible. https://lnkd.in/en9vdNvF

True, honest capitalism allows failed ideas to fail. However, how can true capitalism function if governments bail out failing corporations deemed "too big to fail"? What we often call capitalism is actually socialism for the wealthy. We are not living under true capitalism in the United States; instead, we exist in a hybrid system where the elite class operates under capitalist principles when it comes to business and making money but turns to socialism when they make mistakes, relying on taxpayer-funded bailouts. This duality is evident in the financial crises where massive corporations receive government assistance while small businesses and individuals are left to fend for themselves. The same inconsistency appears in communist systems. While communism is supposed to eliminate class distinctions, the elite still engage in capitalistic endeavors to maintain their power and wealth. Whether it’s communism, socialism, or capitalism, these ideologies are often implemented and governed by the same class of people, undermining their intended forms. Consider the 2008 financial crisis, where major banks received substantial government bailouts despite their role in creating the economic meltdown. This intervention contradicts the principles of free-market capitalism, where businesses should succeed or fail based on their merits. Instead, it creates a system where risks are socialized, and profits are privatized, perpetuating inequality and undermining trust in economic systems. The issue lies not in the ideologies themselves but in their implementation by a ruling elite that manipulates these systems for their benefit. This exploitation leads to disillusionment with economic theories that, in their pure forms, aim to create fairer societies. Therefore, it’s crucial to recognize and address these disparities to foster genuine, equitable economic practices. #Discussion #Capitalism #Socialism #Communism by #MaheshChookolingo

We need to treat ‘economy’ not as an “engine” subject to “fine tuning”, but more like a natural ecosystem in which humans meddle at great risk to the system and themselves. If only we could understand this basic fact and not only about economy but also about the nature, the Earth and the whole Universe… Anyhow, a great piece by Ruchir Sharma of Rockefeller Capital Management to read about the growing government (debt and regulation) and financial markets (4X the size of global GDP vs 1x in 1980) and how unsustainable both have become on the path to avoid crisis. An era of slow growth shared even more unequally is awaiting us in the coming years, following the excesses of the past four decades which brought socialism to the richest alongside some handouts for the poorest without improving much for the large majority and destroying the middle class and democracy.

Review of "Prosperity Without Growth" by Tim Jackson In an era where the clamor for economic growth overshadows the essential conversations about sustainability and equity, Tim Jackson’s "Prosperity Without Growth" emerges not just as a crucial read, but as a manifesto for a radical and urgent transformation of our global economic system. This book strikes at the heart of the entrenched narratives maintained by Wall Street and challenges us to rethink what prosperity means in a world with clearly finite resources. From the outset in the powerful first chapter, "The Limits of Growth" Jackson delivers a persuasive and urgent call to action. He emphasizes, that the future is important to all and that properity is a “shared vision, echos of it inhabbit our daily rituals.” This statement resonates deeply, pushing the reader to consider the dire consequences of continuing down our current path. Jackson masterfully highlights how traditional economic models suppress innovative thoughts and interdisciplinary approaches and impacting our very sense of belonging. Such insights are particularly poignant for the working-class, who are disproportionately affected by policies that prioritize growth at the expense of environmental sustainability and social justice. "Prosperity Without Growth" is more than a critique; it is a bold re-envisioning of economic prosperity. Jackson argues for an economy that focuses on the well-being of all, advocating for systems that prioritize long-term resilience and sustainability over fleeting profits. He makes it clear that changing our economic narrative is not just beneficial but imperative, as it ensures the health of our planet and the future of our societies. This book is an urgent wake-up call for policymakers, educators, activists, and citizens worldwide. Its clear, compelling, and thoughtful examination of the pitfalls of relentless economic growth coupled with a visionary approach to sustainable prosperity makes it an indispensable resource. Professor Jackson does not shy away from the challenges we face; instead, he offers a hopeful and inspiring vision for a sustainable and equitable future. This is one of those rare books that can truly change the world.

It’s Happened Before The current movement to remake capitalism is not the first time the economic system has undergone significant transformation. As I explain in my new book, “Beyond Shareholder Primacy,” capitalism has undergone three major cycles of reformation—beginning with the fall of Feudalism and the rise of Mercantilism in the 17th century. Each cycle has been initiated by a movement that propels capitalism to a new stage of development, animated by what John Maynard Keynes described as our animal spirits. These more primal forces—greed, extraction, lust for power—lead to an extreme, one-sided tendency toward exploitation, concentration of wealth, and degradation of the social fabric and environment. Such excesses then produce a countermovement animated by what Abraham Lincoln described as our “better angels.” These more compassionate forces—empathy, mutuality, concern for the common good—then lead to new “reformed” versions of Capitalism. Through it all, there is a certain sense of déjà vu—that which goes around comes around again.  Many of the challenges capitalism faces today—concentration of wealth at the top, monopoly power, environmental degradation, and toxic levels of inequality—have been confronted before. And while the scale and scope of the challenges we face today may be unprecedented, we can learn from history so, as the saying goes, we are not doomed to repeat it. The past is not prologue. #SustainabilityBusinessStrategy #SustainabilityBusinessBook #GreenerBottomLines #BeyondShareholderPrimacy #ESG #CSR #Sustainability #SustainableCapitalism #SustainabilityLeadership    Receive 20% off your purchase of “Beyond Shareholder Primacy” at www.sup.org with discount code SHAREHOLDER20  

CAPITALISM IN AMERICA: A HISTORY - PDF: https://lnkd.in/gUQeuJrU From even the start of his fabled career, Alan Greenspan was duly famous for his deep understanding of even the most arcane corners of the American economy, and his restless curiosity to know even more. To the extent possible, he has made a science of understanding how the US economy works almost as a living organism--how it grows and changes, surges and stalls. He has made a particular study of the question of productivity growth, at the heart of which is the riddle of innovation. Where does innovation come from, and how does it spread through a society? And why do some eras see the fruits of innovation spread more democratically, and others, including our own, see the opposite? In Capitalism in America, Greenspan distills a lifetime of grappling with these questions into a thrilling and profound master reckoning with the decisive drivers of the US economy over the course of its history. In partnership with the celebrated Economist journalist and historian Adrian Wooldridge, he unfolds a tale involving vast landscapes, titanic figures, triumphant breakthroughs, enlightenment ideals as well as terrible moral failings. Every crucial debate is here--from the role of slavery in the antebellum Southern economy to the real impact of FDR's New Deal to America's violent mood swings in its openness to global trade and its impact. But to read Capitalism in America is above all to be stirred deeply by the extraordinary productive energies unleashed by millions of ordinary Americans that have driven this country to unprecedented heights of power and prosperity. At heart, the authors argue, America's genius has been its unique tolerance for the effects of creative destruction, the ceaseless churn of the old giving way to the new, driven by new people and new ideas. Often messy and painful, creative destruction has also lifted almost all Americans to standards of living unimaginable to even the wealthiest citizens of the world a few generations past. A sense of justice and human decency demands that those who bear the brunt of the pain of change be protected, but America has always accepted more pain for more gain, and its vaunted rise cannot otherwise be understood, or its challenges faced, without recognizing this legacy. For now, in our time, productivity growth has stalled again, stirring up the populist furies. There's no better moment to apply the lessons of history to the most pressing question we face, that of whether the United States will preserve its preeminence, or see its leadership pass to other, inevitably less democratic powers.