capitalism

A Quote by Bill Gates on business, capitalism, conscious capitalism, conscious business, and creative capitalism

Why do people benefit in inverse proportion to their need? Well, market incentives make that happen.

In a system of capitalism, as people's wealth rises, the financial incentive to serve them rises. As their wealth falls, the financial incentive to serve them falls, until it becomes zero. We have to find a way to make the aspects of capitalism that serve wealthier people serve poorer people as well.

The genius of capitalism lies in its ability to make self-interest serve the wider interest. The potential of a big financial return for innovation unleashes a broad set of talented people in pursuit of many different discoveries. This system, driven by self-interest, is responsible for the incredible innovations that have improved so many lives.

But to harness this power so it benefits everyone, we need to refine the system.

Bill Gates

Source: Bill Gates: World Economic Forum 2008: http://www.microsoft.com/Presspass/exec/billg/speeches/2008/01-24WEFDavos.mspx

Contributed by: ~C4Chaos

A Quote by Bill Gates on business, capitalism, conscious capitalism, conscious business, and creative capitalism

As I see it, there are two great forces of human nature: self-interest, and caring for others. Capitalism harnesses self-interest in a helpful and sustainable way, but only on behalf of those who can pay. Government aid and philanthropy channel our caring for those who can't pay. But to provide rapid improvement for the poor we need a system that draws in innovators and businesses in a far better way than we do today.

Such a system would have a twin mission: making profits and also improving lives of those who don't fully benefit from today's market forces. For sustainability we need to use profit incentives wherever we can. At the same time, profits are not always possible when business tries to serve the very poor. In such cases there needs to be another incentive, and that incentive is recognition. Recognition enhances a company's reputation and appeals to customers; above all, it attracts good people to an organization. As such, recognition triggers a market-based reward for good behavior. In markets where profits are not possible, recognition is a proxy; where profits are possible, recognition is an added incentive.

Bill Gates

Source: Bill Gates: World Economic Forum 2008: http://www.microsoft.com/Presspass/exec/billg/speeches/2008/01-24WEFDavos.mspx

Contributed by: ~C4Chaos

A Quote by Bill Gates on business, capitalism, conscious capitalism, conscious business, and creative capitalism

The challenge here is to design a system where market incentives, including profits and recognition, drive those principles to do more for the poor.

I like to call this idea creative capitalism, an approach where governments, businesses, and nonprofits work together to stretch the reach of market forces so that more people can make a profit, or gain recognition, doing work that eases the world's inequities.

Bill Gates

Source: Bill Gates: World Economic Forum 2008: http://www.microsoft.com/Presspass/exec/billg/speeches/2008/01-24WEFDavos.mspx

Contributed by: ~C4Chaos

A Quote by Michael Pollan on capitalism, food, and food supply

A tension has always existed  between the capitalist imperative to maximize efficiency at any cost and the moral imperatives of culture, which historically have served as a counterweight to the moral blindness of the market.  This is another example of the cultural contradictions of capitalism – the tendency over time for the economic impulse to erode the moral underpinnings of society.  Mercy toward the animals in our care is one such casualty.

Michael Pollan

Source: The Omnivore's Dilemma: A Natural History of Four Meals (Large Print Press), Pages: 318

Contributed by: HeyOK

A Quote by Robert Reich on business, capitalism, and good business

In the early 1970s, Milton Friedman argued that corporations should not be socially responsible because they had no mandate to be; they existed to make money, not to be charitable institutions. But in the economy of the 21st century, corporations cannot be socially responsible, if social responsibility is understood to mean sacrificing profits for the sake of some perceived social good. That's because competition has become so much more intense. As to the meaning of "corporate social responsibility," Friedman and I would agree: If a certain action improves the corporation's bottom line, there's no point in labeling it "socially responsible." It's just good business.

Robert Reich

Source: Forbes: Supercapitalism: Transforming Business: http://www.forbes.com/opinions/2007/09/06/book-qanda-reich-oped-cx_mw_0906reichqanda.html

Contributed by: ~C4Chaos

A Quote by Jeff Skoll on business, capitalism, conscious capitalism, and conscious business

Business skills, when well applied, can do more than just make money. They can potentially make money and do some real good, which is immensely satisfying. To do that, it's important to think outside the box, take risks, and be an entrepreneur.

Jeff Skoll

Source: BusinessWeek: An Entrepreneur Who Cares: http://www.businessweek.com/bschools/content/jun2005/bs20050616_5577_bs001.htm

Contributed by: ~C4Chaos

A Quote by Mats Lederhausen on business, purpose, intention, action, capitalism, and conscious capitalism

My ultimate dream is to manage a set of businesses that all are born out of a purpose bigger than their product. I believe that is what my particular journey is about. I am somewhat tired of going to meetings where spiritual people talk about how the world can be a better place but with very little evidence of any tangible outcome. Maybe I'm impatient, maybe I'm intolerant, but I like to see things change in front of me. I want to see physical manifestations of spiritual intent. My greatest sense of spirituality or connectedness is when I'm with people who come together for a cause much larger than themselves and do great work. In fact, I probably prefer action with only partially good intentions over intentions only partially acted upon. And the best way I know how to do that is to keep identifying, managing, supporting, and helping businesses that have a purpose bigger than their product. I believe wholeheartedly that a new form of capitalism is emerging. More stakeholders (customers, employees, shareholders, and the larger community) want their businesses to think, to act, to feel, and to be connected with a larger context. That is spirituality in action. And that is what I am about.

Mats Lederhausen

Source: WIE: You've Got to Hang In There: http://www.wie.org/j28/lederhausen.asp

Contributed by: ~C4Chaos

A Quote by Peter Barnes on triple bottom line, shareholders, business, capitalism, profit, and corporation

It is possible for a company to pursue multiple bottom lines if it’s closely held by a group of like-minded shareholders--that was the case at my former company, Working Assets. But once a corporation goes public--that is, sells stock to strangers—the die is pretty much cast. Strangers want a stock that will rise when they plunk down their money, and profit is the sure path to doing that. It’s just a matter of time, then, until the profit-maximizing algorithm kicks in.

Peter Barnes

Source: Capitalism 3.0: A Guide to Reclaiming the Commons (BK Currents), Pages: 53-54

Contributed by: ~C4Chaos

A Quote by Peter Barnes on capitalism, business, and conscious capitalism

When capitalism started, nature was abundant and capital was scarce; it thus made sense to reward capital above all else. Today we’re  awash in capital and literally running out of nature. We’re also losing many social arrangements that bind us together as communities and  enrich our lives in nonmonetary ways. This doesn’t mean capitalism is doomed or useless, but it does mean we have to modify it. We have to adapt it to the twenty-first century rather than the eighteenth. And that can be done.

How do you revise a system as vast and complex as capitalism? And how do you do it gracefully, with a minimum of pain and disruption? The answer is, you do what Bill Gates does: you upgrade the operating system.

Peter Barnes

Source: Capitalism 3.0: A Guide to Reclaiming the Commons (BK Currents), Pages: Preface

Contributed by: ~C4Chaos

A Quote by Patricia Aburdene on capitalism, business, and conscious capitalism

We need to graduate from the ridiculous notion that greed is some kind of elixir for capitalism - it's the downfall of capitalism. Self-interest, maybe, but self-interest run amok does not serve anyone. The core value of conscious capitalism is enlightened self-interest. As Jim Cramer on CNBC says, "Bulls make money, bears make money, pigs get slaughtered."

Patricia Aburdene

Source: Trend-watcher sees moral transformation of capitalism: http://www.csmonitor.com/2005/1003/p13s01-wmgn.html

Contributed by: ~C4Chaos

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