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Sustainable capitalism: A Matter of Common sense

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Sustainable capitalism: A Matter of Common sense

  1. 1. Sustainable Capitalism A Matter of Common Sense John E. Ikerd DA 8000 Patcharawan Ubonloet 22 Feb 2015
  2. 2. Outline • About the author • Why Sustainable Capitalism? • The First Principles: A Matter of Common Sense • Sustainability How do we manage? • Sustainable capitalism 2
  3. 3. About the author • Believed in neoclassical economic and free market • An agricultural economist 3
  4. 4. Why Sustainable Capitalism? • The pursuit of economic wealth is a pursuit of individual, hedonistic and sensory pleasure. • The pursuit of individual wealth encourages the exploitation of others for self gain, which destroys human relationships social happiness. • Economic attempts to be a hard science by using statistical and economic model to manage and predict economic growth. • Ikerd suggests that economic is “living principles”. Social scarcity, matters of morality- environmental ethics relates to truth and rightness cannot be evaluated in dollars and votes. Problem with neoclassical economics 4
  5. 5. • Degeneration of exploitative, divisive society resulting in rising unhappiness and eventually in revolution. • Negative ecological and social impacts The rising ‘‘corporatism’’- domination of corporations is the greatest threats to sustainability are directly related to the industrial approach to organizational management. • It creates non-existing needs through advertising leading to exploitation of global resources. • No assurance of producing “the right stuff” to meet today and future’s real needs. • Capitalistic economy is incapable of transforming individual self-interests into society well-being. Why Sustainable Capitalism? Problem with capitalism 5
  6. 6. 6 Impacts of capitalism Why Sustainable Capitalism? • Poor treatment of factory workers • Negative ecological and political impacts of industrialism. • Polluters and extractors of nonrenewable and renewable resources. • Corporations disrupts local economies. • Unfair economic system as social and moral constraints to economic growth is removed.
  7. 7. Why Sustainable Capitalism? • Values in life • Relationship among things • Equity justice • Ethic, morality and intergenerational equity along with growth and development • Ecological and social implications The return of classical economic principles 7
  8. 8. The First Principles A Matter of Common Sense • A new economics of sustainability based on principles of living systems, capable of self-renewal and regeneration for present and future generations. • ‘‘ The First Principles’’ of classical economics – the pursuit of happiness - not just material well-being but relationships with families, communities, cultures and societal well-being instead of just the pursuit of wealth. • As a human we need for both caring and sharing- a spiritual connectedness. • Our Common sense tells us that ethics and morality- care about others- matters in creating economic of happiness, social well-being and sustainability. 8
  9. 9. Sustainability Liveable evolution Meet the needs of people today individually and collectively Preserving opportunity for future generations Sustainability: How do we manage? 9
  10. 10. Sustainability: How do we manage? Sustainability Happiness and Quality of life Public economy Private economy C o m p e t i t i v e n e s s M a r k e t/ E f f i c i e n c y / B a l a n c e s u p p l y & d e m a n d Infrastructure P h y s i c a l / F i n a n c e / L e g a l G o v e r n m e n t 10 Macro economic stability Sustain economic development/ Economic & social integrity/ Profits shared/ Care for natural& social community Moral/consensus/ rightness/relationship Produce common goods to equal rights people a l
  11. 11. 11 Sustainable Capitalism? • Hearts and minds of people • Common sense understanding of the fundamental first principles- enlightened concept of self- interest. • A return to the pursuit of a more desirable quality of life , not the financial wealth. • An understanding that a desirable quality of life depends upon the rightness of our relationships with each other and with the earth. • Willingness to return to the pursuit of happiness. Begins with
  12. 12. Thank you 12

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