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Is "Stakeholder Capitalism" an exciting new path forward or a last roll of the capitalist dice that is doomed to the same fates of croney capitalism? The World Economic Forum hopes its the former. "What kind of capitalism do we want? That may be the defining question of our era. If we want to sustain our economic system for future generations, we must answer it correctly. Generally speaking, we have three models to choose from. The first is “shareholder capitalism,” embraced by most Western corporations, which holds that a corporation’s primary goal should be to maximize its profits. The second model is “state capitalism,” which entrusts the government with setting the direction of the economy, and has risen to prominence in many emerging markets, not least China."
Is "Stakeholder Capitalism" an exciting new path forward or a last roll of the capitalist dice that is doomed to the same fates of croney capitalism? The World Economic Forum hopes its the former. "What kind of capitalism do we want? That may be the defining question of our era. If we want to sustain our economic system for future generations, we must answer it correctly. Generally speaking, we have three models to choose from. The first is “shareholder capitalism,” embraced by most Western corporations, which holds that a corporation’s primary goal should be to maximize its profits. The second model is “state capitalism,” which entrusts the government with setting the direction of the economy, and has risen to prominence in many emerging markets, not least China."
Um, how about no capitalism? No matter who’s pulling the strings or how it is “reformed”, capitalism is and always will be an economic system premised on the extraction and hoarding of capital/resources by a minority of people, at the expense of the majority. It will always perpetuate inequality, social isolation, and the complete disruption and eventual collapse of Earth’s ecological systems.
Um, how about no capitalism? No matter who’s pulling the strings or how it is “reformed”, capitalism is and always will be an economic system premised on the extraction and hoarding of capital/resources by a minority of people, at the expense of the majority. It will always perpetuate inequality, social isolation, and the complete disruption and eventual collapse of Earth’s ecological systems.
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