Publication Type

Magazine Article

Version

Publisher’s Version

Publication Date

5-2014

Abstract

To have a conversation, the appropriate language is needed. The language is just starting to emerge in both Asia and the West for one of the most important conversations the world is now having—the discussion about the future of business and capitalism. Thailand’s King Bhumibol refers to the sufficiency economy. Harvard’s Michael Porter speaks of shared value. Ellen MacArthur’s eponymous foundation supports the transition to the circular economy. John Elkington proposes breakthrough capitalism. Bhutan’s call to measure progress by gross national happiness (GNH), rather than the narrow metric of gross domestic product (GDP), is now attracting attention around the globe. The explosion of terms, concepts and practices takes us far beyond the familiar corporate social responsibility. All are efforts to grapple with the same issue: capitalism as we have known it is not fit for the 21st century. What is to take its place?

Keywords

Capitalism, new political models, business, human progress

Discipline

Asian Studies | Business | Political Science | Public Policy

Research Areas

Political Science

Publication

Asian Management Insights

Volume

1

Issue

1

First Page

32

Last Page

37

ISSN

2315-4284

Publisher

Singapore Management University

City or Country

Singapore

Copyright Owner and License

Singapore Management University

Creative Commons License

Creative Commons Attribution-Noncommercial-No Derivative Works 4.0 License
This work is licensed under a Creative Commons Attribution-Noncommercial-No Derivative Works 4.0 License.

Additional URL

http://cmp.smu.edu.sg/ami/all

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