Earth Capitalism: Creating a New Civilization through a Responsible Market Economy
Patrick U. Petit
Transaction Publishers, Dec 31, 2011 - Business & Economics - 244 pages
Today a deepening global recession is causing economic hardships for all kinds of businesses. Earth Capitalism attributes the crisis to inappropriate macroeconomic policies and excessive expansion of financial institutions in blind pursuit of profit, lack of self-discipline among financial institutions, and the failure of supervision and regulation to keep up with financial innovations. Collectively, these are some of the main causes of the current global economic malaise. Petit argues that human greed and insatiability are the true source of disparities around the world. Greed is the reason why we are depleting the Earth’s natural resources and destroying its ecosystems. He argues that instead, a good life should be based on balanced give-and-take. When we take something from society or the Earth, we have to maintain a balance by giving something equivalent back. Happiness is founded on gratitude for what one has, and one should engage in an overall appraisal of life, not what one lacks. He believes the same principle should be applied to management of the Earth’s natural resources and goods. The current global crisis impels us to create a responsible capitalism, one that benefits all living beings on this planet. It reminds us to live a simpler life based on true well-being and life-satisfaction, but simple living is not about living in poverty. As its subtitle suggests, Earth Capitalism’s contributors present leading edge economic concepts, business models, and best practices that show the path toward creation of responsible capitalism—a viable scenario emerging from the current global economic and financial crisis.
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activities agriculture ARMM assets Bank’s business model capital challenges civilization climate companies company’s complementary currencies consumers Corporate Social Responsibility costs countries create culture customers Darjeeling Deutsche Bank direct democracy Earth Eco-social Ecological Footprint economic ecosystem employees energy environment environmental equity example funds future Global Footprint Network Global Marshall Plan governments hybrid economy IBLF idea impact important inclusive business increase industry initiatives innovation institutions integrated Internet investment investors leadership living microcredits million monetary Muhammad Yunus natural Network organizations paradigm partners Pasona Group peak oil people’s percent planet policies practices President principles private sector problems profit promote regional role Saber ShoreBank social enterprises social entrepreneurs Social Entrepreneurship stakeholders strategy sustainable development Swiss Teekampagne tion trade transformation United Nations values voluntary economy Weleda worldwide