Introducing Capitalism 2.0 – the next evolution of the capitalist economic model.
Capitalism 1.0 describes our current economic model. The first version of Capitalism which focuses on a profit-above-all mindset. The people, the planet, the eco-system, friends, family, plants and animals are all less important than maximizing profits. It’s a narrow-minded idea that, as we are seeing, is eating its on tail.
Introducing Capitalism 2.0
Put simply, Capitalism 2.0 recognizes that profit-above-all, unlimited growth, and interest-bearing debt are creating a toxic situation in which nothing can survive – not even the wealthy. We are already witnessing the inevitable breakdown of the Capitalist 1.0 model which has no choice but to consume itself or evolve.
Globalization, mechanization and a shift to virtual markets have radically altered the very foundations of the existing economic model. We have lowered the costs of production to levels that have thinned margins to the point of preventing profitability. Increasing profit now means cutting costs like employee benefits, safety standards, training or quality assurance. Short term gains for long term risks and corporate-destruction.
While we’re introducing Capitalism 2.0 here, the shift has already begun. The Social Enterprise movement, the adoption of co-operatives and blended corporate models, and a merger of capitalist efficiencies with socialist values are all on the rise.
In this section we will highlight existing examples of this new model, discuss how this new model will repair many of the problems we face today, and explore some views in to our shared future and what it might hold.