Capitalism 3.0

Capitalism 3.0

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The commons a€” those creations of nature and society we inherit together and must preserve for our children a€” is under siege. Our current version of capitalism a€” the corporate, globalized version 2.0 a€” is rapidly squandering this heritage. Now, Peter Barnes offers a solution: protect the commons by giving it property rights and strong institutional managers. Barnes shows how capitalism a€” like a computer a€” is run by an operating system. Our current operating system gives too much power to profit-maximizing corporations that devour the commons and distribute most of their profits to a sliver of the population. And government a€” which in theory should defend the commons a€” is all too often a tool of those very corporations. Barnes proposes a revised operating system a€” Capitalism 3.0 a€” that protects the commons while preserving the many strengths of capitalism as we know it. His major innovation is the commons trust, a market based legal entity with the power to limit the use of scare commons, charge rent, and pay dividends a€” in both cash and services a€” to everyone. In Barnes' vision, an array of commons trusts would institutionalize our obligations to future generations, fellow citizens, and nature. Once established, they'd use markets and property rights to create a better world for us all. Capitalism 3.0 offers a practical alternative to our current flawed economic system. It points the way to a future in which we can retain capitalism's virtues while mitigating its vices.Alternatives to Economic Globalization: A Better World Is Possible. San Francisco : Berrett-Koehler, 2002. Coase, Ronald. Essays on Economics and Economists. ... The New Economy ofNature: The Quest to Make Conservation Profitable.

Title:Capitalism 3.0
Author: Peter Barnes
Publisher:Berrett-Koehler Publishers - 2006-10-15

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