Publication Type
Magazine Article
Version
acceptedVersion
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
Citation
FLORINI, Ann and SHARMA, Bindu, "The new capitalism: Asia and the future of business, government, and society" (2014). Research Collection School of Social Sciences. Paper 1673.
https://ink.library.smu.edu.sg/soss_research/1673
Available at: https://ink.library.smu.edu.sg/soss_research/1673
Copyright Owner and License
Singapore Management University
Creative Commons License
This work is licensed under a Creative Commons Attribution-NonCommercial-No Derivative Works 4.0 International License.
Additional URL
https://cmp.smu.edu.sg/ami/all
Included in
Asian Studies Commons, Business Commons, Political Science Commons, Public Policy Commons