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Here's Why Capitalism Could Save the World

Posted: 06/15/2012 11:40 am

"CAPITALISM ISN'T WORKING!" yelled one of the many animated/angry signs from the protestors occupying Wall Street.

I didn't feel compelled to argue against the statement, per se. It seemed true enough. But it also seemed limited. Like announcing, "Lady Gaga writes smutty pop songs!"

My reaction was a resounding, "Duh."

Sure capitalism is steadily suffering from a major public image fail. But what if I told you that capitalism could save the world? Yes: Save the world.

Stay with me here.

Because I share the same disdain for corporate greed as the protesters of the Occupy Movement, I watched with interest and amazement as they gathered to fight "The Man." The sheer volume of people self-organizing themselves across all corners of the planet was impressive. The troops seemed to be gathering themselves. This would be the beginning of the end for our inequitable economic systems, right?

Almost a year after the occupy movement detonated, it seems like life has marched onwards. It's business as usual.

But people are still polarized. On one end of this "capitalism" debate are the crusty, irate anarchists who seem hell-bent on destroying the system. On the other end are the money-hungry corporate dinosaurs with patent leather briefcases and cigars burning in their scabby mouths. And quite frankly, I'm perturbed by both extremes.

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Then there are the rest of us. Those in the middle. Those of us who are fatigued by tales of corporate greed and environmental shortsightedness. Those who know that marching on Wall Street with cheeky placards might land a spot on the 6 o'clock news, but that waving a flimsy sign at a giant corporate skyscraper ultimately provides little actual systemic change. The rest of us know that it's time to move past the mudslinging, time to move past the blame game.

So here's where I share a potentially unpopular idea: Our current environmental and social predicaments are not the fault of "capitalism." In fact - brace yourself - they can be resolved by capitalism.

We're missing the point here folks. Capitalism is simply a system of economic organization that doesn't have any inherent moral values (good or bad) built into it. It's like saying the Internet is bad because it's got creepy BDSM porn photos and videos of people killing kittens. Yes, certain elements of it are flawed and disturbing, if not thoroughly lacking in morality. But to abandon it is foolery.

(If you want to demonize something, I suggest greed or economic disproportion or political parties that encourage corporate gluttony.)

We've got an economic system that mixes elements of capitalism and socialism. It's flawed, but in many ways it's functioning. And it's imperative to use the social, economic and political systems we've built to help facilitate a shift towards a more equitable society and environmentally sustainable future. In fact, if we want immediate global impact, there is no other way.

Ultimately, despite my apathetic reaction, I strongly agree with the proclamation: "Capitalism isn't working."

But does that mean we should abandon capitalism? No. Instead we have to find ways to make it not only work, but help save the world.

And I'm looking directly at you big business.

Capitalism has the potential to be the greatest social catapult the world has ever seen. What we need to do is rewire ourselves and our companies to understand that doing "good" is actually good for long-term sustainable business. The successful brands of tomorrow will not only focus on product and price-point and profit, but will realize that as much attention needs to be placed on purpose, and cause, and attitude.

If this recalibrating is successfully accomplished, then capitalism will be responsible not only for the reversal of this protracted economic recession, but also for the rise of the developing world, and the resurrection of the western middle-class.

This foreboding beast of capitalism that we know today, ironically, will be the societal savior for which we've all been praying.

 

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"CAPITALISM ISN'T WORKING!" yelled one of the many animated/angry signs from the protestors occupying Wall Street. I didn't feel compelled to argue against the statement, per se. It seemed true eno...
"CAPITALISM ISN'T WORKING!" yelled one of the many animated/angry signs from the protestors occupying Wall Street. I didn't feel compelled to argue against the statement, per se. It seemed true eno...
 
 
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11:52 PM on 06/21/2012
I wrote this piece on my blog that delves into this topic quite a bit more.

Maybe some of you might enjoy it.

http://www.oddbloke.ca/2012/04/02/and-the-point-is/
04:04 PM on 06/17/2012
The day the Berlin Wall came down was the day the middle class died. Once the war on communism was won attention could be paid to the bloated middle class. No longer burdened with comparisons to the communist system they can now claim the promises from the past are no longer affordable. Hence the stripping of benefits and protections.

We are doomed as no cohesive effort will ever be affected to force the 1 percent to change. Don't forget the the wealthy often have been able to justify ever form of servitude to benefit themselves from slavery to war to ensure there survival. There will alway be a certain segment of society that can be bought to support that rich group.

We are doomed to serfdom and slavery in the future. Fewer jobs will be filled by a few people paid a minimum wage and luck to get that.
01:31 PM on 06/17/2012
The author does a good job of offering a contradiction here. He says that capatilism is a system without morals or values. Then he concludes by asking big business to have some morals and values. Hmmm....
09:24 AM on 06/17/2012
Capitalism is a fine way to run a business, a lousy way to run a society. Capitalism should be an aspect of society that can be harnessed to help achieve collective goals. Social-democracy in the Nordic model.
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06:16 PM on 06/16/2012
Capitalism is a myth.
07:12 AM on 06/17/2012
False.
03:47 PM on 06/16/2012
That doesn't sound like capitalism at all. Capitalism is about the primacy of capital over labour and that profit is everything. That's what it has become anyway. To speak of making it into something where "doing good" is rewarded, well, under Capitalism today the ideal is this idea that if everyone behaved as ruthlessly and selfishly as possible, doing bad in other words, that this causes a synergy that leads to the greatest good!
07:16 AM on 06/17/2012
What a bunch of nonsense. Get a clue.
07:46 AM on 06/17/2012
You don't understand. If I ran my business how you suggest we would be closed within a year. The part you're missing is the satisfied customer. I succeed by providing a quality product at a good price. I respond to customer feedback to improve their experience. It works because of the mutual reciprocity. Capitalism is about cooperation.
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03:15 PM on 06/16/2012
Thomas Pynchon, an American novelist, said, "If you can control the questions, you do not have to worry about the answers". With that, consider the title of this article:

"Here's Why Capitalism Could Save the World"

Try to define capitalism and you will chase the proverbial tail. It is as evasive as the social contracts of the countries that claim it as their economic model. It's like asking, "What's a Canadian?". Of course there is the "theoretical" Canadian; but practically speaking...

Unbridled, pure capitalism exists only in theory. Even Adam Smith understood that government must play referee for it to work. But to what degree? And filtered through what perspective or defined ideology? Is it an ideology? Or just an economic model or both or ...

Wikipedia states, Capitalism is "an economic and political system in which a country's trade and industry are controlled by private owners for profit, rather than by the state."

But this of course is contradictory. How can trade and industry be controlled by private owners rather than the state, when they are inseparable? Control is a joint responsibility. Private corporations depend on governments passing or not passing regulations that make it possible for them to exist just as much as governments depend on private investments to create jobs. Then you have “public” not “private” corporations.

My point?

The author needs to define the "Capitalism" of which he speaks before he can move forward with his argument. Good luck on that one.
07:24 AM on 06/17/2012
I view capitalism as a theory that helps to explain human behavior. It provides an insight into things like incentive, cooperation, etc. Like evolution, the more you understand it the more you understand human behavior. Public policy should be about how to guide and facilitate these tendencies, not deny them.
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07:44 AM on 06/17/2012
Then explain to me how human behaviour factors into to a "theory" like capitalism, that in practise, is based on a model that needs constant growth, on a planet with finite resources.
TheRenaissanceMan
A starry-eyed idealist with too much time
01:52 PM on 06/16/2012
Pure capitalism is as much of a fail as pure communism. The middle is exactly where we need to be, which is the social democratic nordic model. Scandinavia is among the most successful societies in the entire world.
08:41 PM on 06/18/2012
I prefer the middle ground we have arrived at in Canada, although of course it is not perfect..
11:43 AM on 06/16/2012
infinite growth in a finite world is, ultimately, impossible.
11:22 AM on 06/16/2012
Until we change society as a whole , problems will continue. Today its all about ME and not enough WE.
08:06 AM on 06/16/2012
Capitalism doesn't exist anymore and the world will survive quite nicely with or without it. It is the human species that will disappear.
07:26 AM on 06/17/2012
Capitalism is alive and well.
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thomdetroit
03:39 PM on 06/17/2012
Capitalism may very well be alive. As we both know, corporations in a capitalized society is based solely on greed. In a world that is speeding up, how long can it really last?
07:19 AM on 06/16/2012
Unfortunately capitalism died in 2008 with the bailout of banks and other companies like GM and Chrysler. I would call the current system corporatism - the merging of big government and big business into one.

Like the separation of church and state a few centuries ago, we need to partition business and government.
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lilkitten22
Be the change that you wish to see in the world
02:10 AM on 06/16/2012
Capitalism is fine..vulture capitalism isn't.
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Imma Okay
01:15 AM on 06/16/2012
A system that encourages people to live their life having wealth as their primary objective is fundamentally flawed and can never work.
The system that can work right now is social democracy, with limits on how much people can make through heavy taxation and redistribution of income.
07:37 AM on 06/17/2012
The primary objective is freedom, not wealth. The socialists never get that.

So why would I take risks to improve my business when any extra income would be confiscated and given to my lazy brother who hasn't worked in over 10 years? I could just sit at his place and smoke weed waiting for the check to arrive.
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greenmonk
The Only Thing We Have to Fear Is Fear Itself
05:05 PM on 06/17/2012
Yeah, I'm sure you would choose to live in poverty smoking weed instead of making 100 times as much money even having to pay back 40% in taxes. (Much of it going to the Military Industrial Complex and tax breaks for the ultra-wealthy - which you no doubt support) Why not do that then?
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06:25 PM on 06/17/2012
The primary objective is survival. Unless your vision is shortened to human lifetimes. How can our species survive with a model that does not respect the limits of growth?

To explain our survival in terms of capitalism versus socialism is a mistake. They are both human constructs that always give favour to humans. This is a very narrow perspective considering all life is connected and dependant on it's relationships.

I would suggest you visit the "Bioneers" website if you want a better understanding of how capitalism must work with nature - FIRST.
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12:50 AM on 06/16/2012
Wow. What great expectations you have.