Capitalism 3.0
Otto Scharmer, professor at MIT and author of Theory U: Leading from the Future as it Emerges, has written an interesting and provocative article titled “Seven Acupuncture Points for Shifting Capitalism to Create a Regenerative Ecosystem Economy”. I’ll post some of my reflections on it when I’m finished reading it.
In the meantime, here is an excerpt:
In the financial sector the single-minded quest for short-term financial profitability has led to a set of institutions that now are “too big to fail” and that engage in a type of Wall Street capitalism that Paul Krugman has called “heads I win, tails you lose.” The “I win” part of that principle led to an average annual compensation of $590 million per person for the top 50 Wall Street investment bankers in 2007. The “you lose” part of that same principle has dealt the taxpayers a multi-trillion-dollar bailout bill.
