Capitalism is bad, evil, and counterproductive. At least this was at one time some of my thinking.
Several years back I was in a conversation with a friend about capitalism. She felt that globalization would drive down hourly pay and that everyone would make the same amount of money. I cannot clearly recall all of her rationale for this view but it did challenge my thinking on capitalism. I started to think about how capitalism could and would possibly look different in the years to come.
Fast forward to now. As we move through the global downturn, many have thought about how capitalism could be different in the wake of the market crash and the environment of globalization. Inextricably connected in the global market through technology has made it almost impossible not to have what happens in one part of the world not impact others in the far reaches of the earth. It is not only “if America sneezes” it is “if [insert country of choice] sneezes others in the world get a cold”.
I have come to the realization that globalization will be here to stay but it will allow capitalism to take on a different and more open forms that will allow those who have been disenfranchised from it to take a hold of opportunity. Individuals can now manufacture items from home and sell them globally. Getting a microloan is just a click away if you have a good idea (kickstarter.com or Kiva.com). The small entrepreneur has a global reach and virtually anyone can start what I call a “kitchen table” business.
To explore this idea and more check out Big Think’s article: The Future of Capitalism
It is full of interesting views that will make you think more deeply about the world ahead.
Here’s to the Future,