Healing Capitalism

Five Years in the Life of Business, Finance and Corporate Responsibility

Jem Bendell, Ian Doyle

• Publisher: Routledge
• Year: 2017
• Print ISBN: 9781907643927
• eBook ISBN: 9781351276467
• Topic: Business
• Subtopic: Business General
• Index: Business

The global response from business to social and environmental issues during the past decade has created a corporate responsibility movement. But what has been the impact of this movement? The financial crisis that began in 2007 has led more and more people to question the fundamentals of our economic system. Now, some within the corporate responsibility movement are developing a vision and practice of a new form of capitalism, one that will require collective action to achieve.

Bendell and Doyle draw on Lifeworth's annual reviews of corporate responsibility and explain how business leaders, stakeholders and related academe now need to experiment with new models that address the fundamental flaws of contemporary capitalism, including monetary systems, enterprise ownership, and regulation. This book will be a fantastic resource for business libraries, as it records and analyses key events, issues and trends in corporate responsibility during the first decade of the 21st century. It is a sequel and companion to Bendell's previous work, The Corporate Responsibility Movement.

Notes

Introduction

1 publications.aomonline.org/newsletter/index. php?option=com_content&task=view&id=1187.

2 Michael E. Porter and Mark R. Kramer, ‘Creating Shared Value’, Harvard Business Review: The Magazine, January 2011; hbr.org/2011/01/the-big-idea-creating-shared-value (2011).

3 J. Bendell, Terms for Endearment: Business, NGOs and Sustainable Development (Sheffield, UK: Greenleaf Publishing, 2000): 97.

4 Accenture and United Nations Global Compact, Accenture CEO Study on Sustainability 2013; www.accenture.com/microsites/ungc-ceo-study/Pages/home.aspx.

5 J. Bendell, Evolving Partnerships: Engaging Business for Greater Social Change (Sheffield, UK: Greenleaf Publishing, 2011).

6 J. Bendell, Barricades and Boardrooms: A Contemporary History of the Corporate Accountability Movement (Geneva: UNRISD, 2004).

7 J. Vidal, ‘Protect nature for world economic security, warns UN biodiversity chief’, The Guardian, 16 August 2010; www.guardian.co.uk/environment/2010/aug/16/nature-economic-security.

8 Data recalculated from GRID-Arendal, “Vital Waste Graphics” (2004); www.grida.no/ publications/vg/waste.

9 Data recalculated from United Nations Information Service, Independent Expert on Effects of Structural Adjustment, Special Rapporteur on Right to Food Present Reports: Commission Continues General Debate On Economic, Social And Cultural Rights (United Nations, 29 March 2004).

10 Data recalculated from news.minnesota.publicradio.org/features/2005/01/31_olsond_ biodiversity and www.rain-tree.com/facts.htm.

11 Joseph L. Bower, Herman Leonard and Lynn Sharp Paine, Capitalism at Risk: Rethinking the Role of Business (Cambridge, MA: Harvard Business Press Books, 2011; hbr.org/product/capitalism-at-risk-rethinking-the-role-of-business/an/13297-HBK-ENG).

12 Porter and Kramer, op. cit.

13 Arun Maira, Transforming Capitalism: Business Leadership to Improve the World for Everyone (Nimby Books/Westland, 2011).

14 For instance, the economic theories of Mutualism: en.wikipedia.org/wiki/ Mutualism_(economic_theory).

15 For instance, my publication for UNRISD in 2004 was one of many from the UN agency that took a political economy perspective on corporate responsibility and accountability issues (Bendell, op. cit. [2004]).

16 To see the latest activity on these topics, visit the Institute for Leadership and Sustainability (IFLAS) at www.iflas.info.

17 John Ruskin, Unto This Last (1852); available at etext.virginia.edu/etcbin/toccer-new2?id=RusLast.xml&images=images/modeng&data=/texts/english/modeng/parsed &tag=public&part=2&division=div1.

18 K. Polanyi, The Great Transformation (New York: Rinehart, 1944).

19 Gilles Deleuze and Félix Guattari, Anti Oedipus (University of Minnesota Press, 2000).

20 This was a footnote in Ruskin’s Unto This Last in 1852.

21 Martin Horn, Britain, France, and the Financing of the First World War (McGill-Queen’s Press, 2002): 82.

22 Bray Hammond, ‘Jackson, Biddle, and the Bank of the United States’, Journal of Economic History 7 (1947): 1-23 (6 December 2006).

23 J. Ryan-Collins, T. Greenham, R. Werner and A. Jackson, Where Does Money Come From? A Guide to the UK Monetary and Banking System (London: New Economics Foundation, 2011).

24 All quotes from Ryan-Collins et al., op. cit.

25 N. Ferguson, The Ascent of Money: A Financial History of the World (London: Allen Lane, 2008): 49-50

26 All quotes from Ryan-Collins et al., op. cit.

27 E.C. Riegel, Private Enterprise Money (New York: Harbinger House, 1944); and Thomas H. Greco, Jr, The End of Money and the Future of Civilization (White River Junction, VT: Chelsea Green, 2009).

28 Hypothetically, if banks spent all their interest payments and also the velocity of monetary exchanges increased sufficiently, then the debts could be serviced without increasing amounts of lending. However, banks do not spend all their interest earnings; they add most of them to their capital and enable additional loans at interest.

29 Andrew Walker, ‘Richest 2% own “half the wealth”’, BBC, 5 December 2009; news.bbc. co.uk/1/hi/6211250.stm.

30 R. Wilkinson and K. Pickett, The Spirit Level: Why Equality is Better for Everyone (London: Penguin, 2009).

31 IMF, World Economic Outlook (Washington, DC: International Monetary Fund, 2012; www.imf.org/external/pubs/ft/weo/2012/01/pdf/text.pdf).

32 Helena Smith, ‘Greek woes drive up suicide rate’, The Guardian, 18 December 2011; www.guardian.co.uk/world/2011/dec/18/greek-woes-suicide-rate-highest.

33 Positive Money web page on the cost of housing: www.positivemoney.org.uk/2012/09/ house-prices-why-are-they-so-high-new-video, accessed 20 October 2012.

34 D. Bolchover, The Living Dead: Switched Off, Zoned Out—The Shocking Truth about Office Life (John Wiley & Sons, 2005).

35 B. Lietaer, C. Arnsberger, S. Goerner and S. Brunnhuber, Money and Sustainability: The Missing Link (Club of Rome, 2012).

36 www.beyond-gdp.eu

37 Greco, op. cit.

38 Lietaer et al., op. cit.

39 David Korten, The Post-Corporate World: Life after Capitalism (San Francisco: Berrett-Koehler Publishers, 1999).

40 Danielle Sacks, ‘John Mackey’s Whole Foods Vision to Reshape Capitalism’, Fast Company, 1 December 2009.

41 Ted Poole, ‘Conversations with North American Indians’, in Ralph Osborne (ed.), Who is the Chairman of This Meeting? A Collection of Essays (Toronto: Neewin Publishing Company, 1972): 39ff. [43].

42 J. Ruskin, ‘Essay IV: Ad Valorem’, in Unto This Last (1860): section 77.

43 J. Bendell, The Corporate Responsibility Movement (Sheffield, UK: Greenleaf Publishing, 2009).

44 Elinor Ostrom, Governing the Commons: The Evolution of Institutions for Collective Action (Cambridge University Press, 1990).

45 E.C. Riegel, Private Enterprise Money (self-published, 1944; available at www.mindtrek.com/treatise/ecr-pem).

46 J. Bendell and T. Greco, ‘Currencies of Transition: Transforming Money to Unleash Sustainability’, in M. McIntosh (ed.), The Necessary Transition: The Journey towards the Sustainable Enterprise Economy (Sheffield, UK: Greenleaf Publishing, 2011): 230.

47 Z/Yen, ‘Capacity Trade and Credit: Emerging Architectures for Commerce and Money’, Z/Yen, UK (2011).

48 B. Lietaer, M. Kennedy and J. Rogers, People Money: The Promise of Regional Currencies (Triarchy Press, 2012).

49 William O. Ruddick, Morgan Richards and Jem Bendell, ‘Complementary Currencies for Sustainable Development in Kenya: The Case of the Bangla-Pesa’, presented at the 2nd Conference on Community and Complementary Currency Systems, The Hague, June 2013; www.iss.nl/fileadmin/ASSETS/iss/Research_and_projects/Conferences/ CCS_June_2013/Papers/Will_Ruddick.pdf.

50 E.C. Riegel, Flight from Inflation: The Monetary Alternati...

Table of contents

• Cover
• Half Title
• Title
• Copyright
• Contents
• Introduction: Why do we need to heal capitalism?
• 2006
• 2007
• 2008
• 2009
• 2010
• Notes
• Thematic index