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Is Ethical, Profitable, Efficient and Sustainable Capitalism Possible?
Mofid, Kamran
Mofid, Kamran
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Abstract
"[...] the golden opportunity presented by the current ongoing crises is to make the right choices that will affect the long term future for us, our descendants and our planet. There is no denying the fact that we are in a serious state of crises, a crises of our own making, all of us and not the bankers alone. They responded to what we wanted: cheap, available, unregulated money and loads of it. They in turn were responding to the neo-liberal agenda of the socalled Washington Consensus: Privatisation, deregulation, market forces, liberalisation, low taxation, free trade, and one glove fits all policies and more. No regards, no respect for different cultures, civilisations, religions and history. What is good for America and the West, then, must also be good for everybody else, regardless of all other factors, we were told again and again. The tragedy is that we have now discovered that what we were pushing on others which we thought was good for us- the so-called our market-forces driven Anglo-Saxon model of capitalism, was nothing but a huge cancerous cell which at the end brought the house of cards down. The emperor has no clothes, so to say. And given our collective failure to discover, know and practice the true "bottom line", we forgot that in order to succeed we should harness and nurture the power of good business, assisting us to achieve our common good objectives. We forgot that the contributions of passionate and caring business, as well as being efficient, profitable, ethical and sustainable, has always been to empower, enable and envision others creating a new kind of capitalism, addressing the critical issues of our time, such as sustainability, poverty, global warming, peace and justice. My friends, ladies and gentlemen, there is no denying the fact that we are in a big mess, a mess of our own creation. All this has broken us all down, morally, spiritually, and economically. What to do now? Where to go now? This Economic Collapse is nothing but a collapse of Virtue, and thus Calls us to Grace and Wisdom and return to a more soul searching times, when we knew that wealth creation is important, but we also knew that more important than wealth creation is to know why wealth is created for, how is it created and when created to what use it is put to. In the reminder of my talk, I will try to shed some light on these and other relevant issues, and will try to suggest a path of recovery and healing. [...]", p. 4-5
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2009-12-01
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With permission of the license/copyright holder