Rethinking Capitalism: Profit Meets Purpose

February 2021
London School of Economics (LSE)

Rethinking Capitalism: Profit Meets Purpose

Introduction

Dive into the thought-provoking world of capitalism's evolution with the London School of Economics! From its roots in trade and innovation to the modern challenges of social responsibility and environmental sustainability, this article explores how capitalism, once the engine of human progress, is at a crossroads. With humor and insight, it questions if it's time to give capitalism a makeover, blending profit with purpose, and how companies like Unilever and Danone are leading the charge towards a more conscious capitalism. Ready to rethink the future of business and its impact on our world?

READ FULL ARTICLE

Why It Matters

Discover how this topic shapes your world and future

Capitalism - A Double-Edged Sword?

Imagine a world where every trade, every investment, and every innovation not only leads to wealth but also contributes to the well-being of people and the planet. That's the dream, right? But here's the twist: capitalism, the very system driving our global economy, is at a crossroads. It's been a powerhouse of progress, pulling millions out of poverty and spurring incredible advancements. Yet, it's also facing criticism for widening inequality, harming our environment, and prioritizing profits over people. The buzz is all about "rehabilitating capitalism" - tweaking it to ensure it serves not just the wealthy few but everyone, including our planet. This matters to you because the world you'll inherit could look very different based on how we reshape capitalism today. It's about your future jobs, the environment you'll live in, and the society you'll be part of. Intrigued? Let's dive deeper.

Speak like a Scholar

border-left-bar-item

Capitalism

An economic system where private individuals rather than the state own and operate businesses.

border-left-bar-item

Financialised Capitalism

A form of capitalism where financial markets, institutions, and norms dominate the economy, influencing both economic policies and the real economy.

border-left-bar-item

Triple Bottom Line

A business strategy that includes social, environmental, and financial performance metrics to measure success.

border-left-bar-item

Decarbonisation

The process of reducing carbon dioxide emissions through low-carbon power sources and transitioning away from fossil fuels.

border-left-bar-item

Social Impact

The effect an organization's actions have on the well-being of the community and environment.

border-left-bar-item

Conscious Capitalism

An approach to capitalism that emphasizes the need for businesses to operate with a sense of responsibility towards all stakeholders, including society and the environment.

Independent Research Ideas

border-left-bar-item

The Role of Youth in Shaping Conscious Capitalism

Investigate how the values and priorities of younger generations are influencing companies to adopt more socially and environmentally responsible practices.

border-left-bar-item

Innovations in Plastic Packaging

Explore the latest innovations in plastic packaging aimed at reducing environmental impact, and assess their effectiveness and scalability.

border-left-bar-item

The Economics of Gender Norms

Examine how changing gender norms are affecting economic policies and practices, and identify the implications for global markets.

border-left-bar-item

Impact Investing and Its Contribution to Social Change

Analyze how impact investing (investing with the intention to generate positive, measurable social and environmental impact alongside a financial return) is driving social change, and evaluate its long-term sustainability.

border-left-bar-item

The Future of Work in a Decarbonised Economy

Delve into the changes in the labor market and employment patterns resulting from efforts to decarbonize the economy, focusing on new types of jobs and skills required.