ABOUT KAMRAN’s Blog and GUEST BLOG
I- KAMRAN’s Blog: Dedicated to the Common Good- aiming to be a source of hope and inspiration; enabling us all to move from despair to hope; darkness to light and competition to cooperation. “Let the beauty we love be what we do.”-Rumi
II- KAMRAN MOFID’s GUEST’s BLOG: Here on The Guest Blog you’ll find commentary, analysis, insight and at times provocation from some of the world’s influential and spiritual thought leaders as they weigh in on critical questions about the state of the world, the emerging societal issues, the dominant socio-economic logic, globalisation, money, markets, sustainability, dialogue, cooperation, environment, media, spirituality, faith, culture, the youth, the purpose of business and economic life, the crucial role of leadership, and the challenges facing economic, business, management, education, and more.
“When we are dreaming alone it is only a dream. When we are dreaming together it is the beginning of reality.”—Helder Camara
Angel Oak Tree, Charleston, South Carolina, USA
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- Written by: Kamran Mofid
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‘Free market capitalism is the greatest agent of collective human progress ever created’-Theresa May
Photo:thedailysheeple.com
In an Open Letter to Prime Minister May published on the GCGI website, I had noted the disastrous consequences of our broken capitalist model and values, whilst offering an alternative path (more on this a bit later).
Today I was very pleased to hear that many leading capitalists, the so-called captains of industry and finance in our country have come out, agreeing with me! WoW! Can you believe it!
‘Capitalism 'has been broken', top UK business leaders warn’
'Greedy, tax-dodging capitalism'
Photo: bing.com
Socialism for the Fatcats and Capitalism for the rest
Capitalism and the Grenfell Towering Inferno Photo:bing.com
Photo:edie.net
Bastard Economics of Greedy Neoliberalism and the Killings of the Innocents in London Tower
‘The state of capitalism is in desperate need of reform and modernisation, according to some of the UK’s top business leaders, who claim that the system has been hurt by management greed, corporate tax dodging and investor short-termism.
Speaking on a panel for the Financial Times, former minister Baroness Shriti Vadera, who is now chairwoman of Santander UK, said that “the underlying promise of western capitalist economies — that a rising tide lifts all boats — has been broken”. She said that a “better model” is needed. Others echoed her remarks.
Robert Swannell, the former chairman of retailer Marks and Spencer, said that capitalism had “lost its way” and that companies and their investors had become much too focused on short termism, according to the FT.
People’s Tragedy: Neoliberal Legacy of Thatcher and Reagan
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The Value of Values: Why Values Matter
What might an Economy for the Common Good look like?
And Carolyn Fairbairn, director-general of the Confederation of British Industry, said that capitalism had taken a number of “wrong turnings”.
“The financial crash, a fixation on shareholder value at the expense of purpose, and the toxic issues of […] payment of tax and executive pay stand in the way of redemption,” she said, according to the FT.
The chairman of Barclays and Lloyds and the former chairman of HSBC also levelled criticism at the emergence of short-termism. Anne Richards, chief executive of asset management company M&G, said: “In the current era, best described as ‘the age of anxiety’, we will see capitalism rejected unless it finds a way of fundamentally addressing this anxiety.”
Last week the former Greek finance minister, Yanis Varoufakis, claimed capitalism is coming to an end because it is making itself obsolete.
Speaking to an audience at University College London, he said that artificial intelligence would spell the end of capitalism in its current form.
“Capitalism is going to undermine capitalism, because they are producing all these technologies that will make corporations and the private means of production obsolete,” he said, according to the FT.’
The above excerpts were first published in The Independent on 23 October 2018
Photo:printerest.co.uk
Capitalism is broken. Here’s how to fix it
The best I can offer is to revisit the letter I had written to Mrs. May which is as true today as when I wrote it: Dear Prime Minister-Britain needs a New Economic Model
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