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'X' Capitalism…fixing capitalism with capitalism

Keynote at 2014 Social Responsibility Forum - Madrid, IE Bus School
by

Karl H Richter

on 16 February 2015

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Transcript of 'X' Capitalism…fixing capitalism with capitalism

(Guardian, 17 September 2012)
London Stock Exchange, Oct 2011
Movement
Occupy
The text of the banner in this image has been digitally altered,
it originally read "Capitalism is crisis"
?
?
Social Economy
Social Businesses
Social Enterprises
Social Market Economy
Impact Economy
Impact Investment
Cooperatives
NGO's / 3rd sector
Big Society
Solutions
"Impact"...
"Social"...
Darling, it all needs money...
The
Welfare State is dead...
Long live the
'Participation Society'
King Willem-Alexander
Netherlands, 2013
"It is urgent that governments throughout the world
commit themselves to developing an international framework
capable of promoting a market of high impact investments"
http://www.news.va/en/news/pope-francis-investors-must-link-profit-to-solidar
“Investing for the Poor” 16-17 June 2014

15-M
Indignados
9 Jan 2012
http://www.ft.com/indepth/capitalism-in-crisis
Private sector 'credit crunch'
Public sector austerity
A new economic paradigm?
The rules are changing
G8
You
need to
make it
sexy
................. ..............................
?
Disruptive innovation ...
Yay! The internet of things
The participation society?
No
Not enough money
for the Welfare State.................................................
Unlocking the potential of the social economy for growth
Rome Conference, Nov 2014, Italian Presidency of the EU Council
http://www.socialeconomyrome.it/
"The problems
are too big for the
social economy to fix"
"If capitalism
is in ruin,
what next?"
"We have lost
the intellectual
argument"
Film: Robot & Frank (2012)
2011: 6% of GDP (EU)
Target 2020: 9% of GDP (EU)
Capitalism
Economics
Money
Apples always fall downwards
Markets go up and down
Not laws of physics… they evolve
Emergent ideas are rewriting the rules...
http://tinyurl.com/qxf9ptk
Rethinking role of government
Smarter, leaner
Multi-polar world
New tools
Smart Power.....................Smart Power
1
Government as:
Investor
Risk-taker
Innovator
Hillary Clinton
Mariana Mazzucato
Better accountability
Direct engagement
Crowd sourcing
Nominate voting delegates
Pia Mancini
Upgrade Democracy
http://democracyos.org/
2
Sharing economy
Commons/ mutuals
-
What does this mean for equity as risk capital?
David Bollier
Access not ownership
http://www.thinklikeacommoner.com/
3
Peer-2-peer
Open source
Freemium
Derivative value €£$
Bypass centralised (top-down) models
Michel Bouwens
Open & Decentralised........
http://p2pfoundation.net/
4
Open Venture movement
+
Balance transparency with privacy
Control who has access your data
Indy Johar
Radical transparency
http://solvetogether.org/2013/08/future-is-open/
Collaborative commons
Internet of things
Prosumers
(not consumers)
Transform capitalism by removing profit motive
Jeremy Rifkin
http://www.foet.org/JeremyRifkin.htm
5
Zero marginal cost
Can't have infinite growth in a finite world
Redefine prosperity
Challenges debt fueled growth model
Tim Jackson
http://www.surrey.ac.uk/ces/people/tim_jackson/
6
Prosperity without growth........GDP v Social Progress
GDP wasn't designed to measure well-being
New index
Common language
Indicators for well-being
GDP <> SPI
Michael Green
http://www.socialprogressimperative.org/data/spi
Social
Cultural
Political
} {
What next...
Karl H Richter
@KarlHRichter
Woof!
No single winning idea -
Fusion of ideas -
Make it sexy -
'X' capitalism
fixing capitalism with capitalism
idea
brand
name
put your here
{ }
http://www.socialenterprise.org.uk/social-economy-alliance
What we have now -
to replace status quo
... but we still want change
a 'meta-capitalism' that can foster a range of compatible variants
to inspire M-15 & Indignados,
Occupy Movement & the 99%,
the next Arab Spring
... just better,
much better !
EU Commissioners 2014 - 2018
Peoples' Strategy 2020
?
Internet search:
"sexy social enterprise"
Constructs
'X' capitalism
fixing capitalism with capitalism
idea
brand
name
put your here
{ }
Chief Executive
www.karlhrichter.com
'X' capitalism
fixing capitalism with capitalism
idea
brand
name

put your here
{ }
Additional blue-sky ideas:
1) (14min into video) unbounded growth tends towards Malthusian collapse (run out of resources). But requires accelerating accelerating rate of innovation to support sustained growth and avoid collapse. catch = requires exponentially increasing rate of innovation (hockey stick) but companies (a socio-economic construct) scale linearly, limited by economies of scale, and produce sigmoidal growth i.e. don't scale unboundedly and mostly have finite lifespans.

2) extrapolating the above... AI may help us support an appetite for unbounded growth, i.e. unlock suprahuman innovative power. Is this possible? >>>> Yes, Singularity (Ray Kurzweil). Is this desirable/ undesirable? Logical next step/ or to be avoided? Will we be comfortable feeding our insatiable appetite for growth and accept surrendering our position as cardinal/ predominant intelligence on the planet?

3) what is money? a social construct... the Wizard of Oz. Should we rethink how money is created and brought into circulation?
Full transcript