Why Capitalism Needs a Reset Now

  • Climate change : Left unaddressed, climate change will leave the world less sustainable and species (including humans) more in peril than ever before
  • Harvard Business School (HBS) Impact Weighted Accounts: The HBS Impact-Weighted Accounts Project aims to drive the creation of financial accounts that reflect a company’s financial, social and environmental performance. Impact Weighted Accounts, and ESG ratings are becoming of increasing importance to investors who care about the long-term health of our planet and its people.
  • The pandemic: COVID19 will have serious consequences for economic growth, public debt, unemployment, and human well-being. This will further impact the social and environmental crisis that is happening now.
  • The widening poverty gap: In January 2020, a UN report found that inequality had reached unprecedented levels, with more than 70% of the global population living in countries where the wealth gap is growing. The income gap had been made worse by the climate crisis and the global pandemic only served to exacerbate the problem.
  • Social justice movements: Movements like Black Lives Matter showed the world that systemic racism and the cycle of poverty are deeply intertwined. BIPOCs, and especially Blacks, experience greater incarceration rates, more housing problems, improper healthcare, inadequate schooling, and other socio-economic issues that result in a lower quality of life.
  • The rise of tech companies that hold more GDP than most countries: The Big Five tech companies generate almost $900B annually, which rivals the GDP of countries like Saudi Arabia or the Netherlands. Many worry that along with too much money, they also wield too much power.

--

--

Senior Solution Consultant at Salesforce, Writer, Athlete, Outdoor Enthusiast, & Adventurer

Love podcasts or audiobooks? Learn on the go with our new app.

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store