Economists fear declining birth rates, but they are wrong. We should celebrate the slowdown of the overpopulation trend that is destroying the Earth, and find better ways to measure value in the economy.
Economists fear declining birth rates, but they are wrong. We should celebrate the slowdown of the overpopulation trend that is destroying the Earth, and find better ways to measure value in the economy.
Mark Benioff follows Jamie Dimon with an important piece about evolving capitalism to reflect the broader needs of society, but the Op Ed lacks the critical components necessary to create a New Capitalism.
Another week, another series of stories about how our focus on growth is a priority of preservation of precious resources. While we we can argue about the issue, the fact remains that unless we change our mindset on growth, those resources will eventually be gone.
While the statement “shareholder value can no longer be the primary measure of corporate success and all stakeholders must be considered” is not radical. It is momentous that the statement came from Jamie Dimon and almost 200 large company CEOs. This announcement is part of a series of seismic events shifting perceptions about company value, and even more evidence of the move from “more” to “better”.
Gene Sperling is part of an increasing pool of economist that argue that an economy should consider maximizing people’s happiness and fulfillment as the key measure of an economy’s performance. But his ideas lack the specificity and incentives to make it happen. Read more to see where he is right, and wrong.
Free market capitalism does not account for free loaders. As exemplified by the dead zone in the Gulf of Mexico, environmental problems have a lot of free loaders. As long as the benefits to polluters outweigh the cost to those impacted, the incentives are not in place to solve the problem.
With the recent news about climate change and the likely extinction of millions of animals, it is easy to start thinking we are approaching the end of the world. Certainly, we are at the end of something. But could it be possible that all that is happening is we are coming to the end of a growth spurt. Said another way, could the human species be in puberty?
It is not that Boeing does not want to build safe planes. The do, but their primary focus and incentives for the executives come from increasing profits. That leads to mistakes.
It may sound crazy but profit has become the gravity that is controlling our behaviors. Is it really the center of our Universe, or is this a misguided believe similar to when we believed the whole Universe centered around the Earth?
Airlines should be revered for the value they bring to people. Unfortunately, due to the pursuit of a return for investors they are one of the most hated industries.
Uber is not a unicorn. It’s story is the same as every other successful company. They first deliver truly unique value to consumers, and then focus on maximum growth before they turn to maximum profits. It is this journey that prevents the delivery of sustainable and increasing value over time.
Individual people aren’t Gods, but as a species, we are the undisputed rulers of Earth. Once we accept this, we can act accordingly. Hopefully for the good.
The most innovative and cash rich company in the world decides to focus its next big idea on streaming entertainment. Why? Because they are no longer serving innovation for consumers, they are serving the master of increasing future cash flow.
Growth is not inherently bad. Growth and its pursuit has delivered a lot of value. But due to compounding performance, we have getting too big and unless we shift strategy, we will get crushed under its weight.
Adam and Eve were cast out of the Garden of Eden for eating the apple from the knowledge tree. In doing so, he launched his greatest competitor.