Capitalism…. a pandora’s box if ever there were one. At one time, it provided a freedom from the Feudal Age, and fueled the emergence of innovation and creativity in ways previously unimagined. Today, it looks to threaten the very civilization of life on earth. What the hell happened in between, and, more importantly, where do we go from here?
If you want to get deeper into these notions, check out this podcast, where Greg dives into “The Dignities and Disasters of Wealth,” a deep discussion of the various aspects of “the good, the bad, and the ugly” side of money.
Everything you put in your body (food, media, air, water, drugs) lives on a spectrum from medicine to poison. The same is true of money, which one of the most raw representations of energy in the world. In addition to generating financial returns (and losses), your money can do beautiful things, or it can contribute to human suffering and loss of life, sometimes on a grand scale. In many cases, it can be hard to tell one end of the spectrum from the middle.
This is where it helps to spend some time with the deeper notion that we can hold two opposing ideas in our head, without devaluing either. In other words, one thing does not have to be wrong for the seemingly opposing idea to be right. For instance, it’s true that traditional capitalism is one of the most powerful forces in existence on planet earth, and it’s not just going to go away because some activists and visionaries can dream up an alternative. At the same time, it’s equally clear that unrestrained capitalism has brought forward an alarming destruction of nature and the human spirt. That destruction has resulted in unimaginable suffering of humans, animals, plants, and the ecological support system for life (at least human life) to continue on this planet.
We can’t go much farther in this discussion without acknowledging both of these fundamental truths. One is not wrong at the cost of the other; capitalism exists, and is incredibly powerful. And if it continues without changing, threatens human life on the planet.
The challenge, therefore, is how we relate to capitalism. From here, I can see a three primary archetypes, and two emerging perspectives, who each relate to capitalism differently:
Proud Capitalist. These are the people (often men) who don’t see that there’s any sort of problem in the first place. They believe in what increasingly seem like overly simplistic notions of supply-and-demand, hewing to a hyper-rationalist view of the world. “The markets are the markets, and the price for everything is exactly and always what it should be.” When confronted with social or environmental risks, they believe “the markets will sort it out,” and find refuge in the notion that markets will “price-in” the cost of things like carbon (carbon tax) or see the wisdom in corporations nominally (but not structurally) supporting movements like Black Lives Matter, when they gain enough momentum to (say it with me) affect the price of corporate shares. Naturally, most of the people who work in finance are Proud Capitalists. My feeling is that they are the die-hards, and also generally the wealthiest people, as well as those with an over-abundance of power in our global system.
Resigned Capitalist. These are the folks who instinctively know something is wrong with the system, but are unable or unwilling to do much about it. They are happy to hear about — and invest in — ESG funds when presented with them, but find themselves overwhelmed by thinking about what can really be done to change the system. Their professional lives, and the life style that results, are dependent on the financial system continuing to operate smoothly, and they’re generally fully occupied by the demands of modern life. As a result, while they might like to see change come about in this area, they’re not able to take preemptive action. It seems to me that this is the largest group of capitalists — the quiet middle of the bell curve — and the ones who will need to be activated for the world to actually move beyond our current dead-locked system.
Anti Capitalist. It won’t take an economic scholar to understand what the Anti-Capitalist is all about. These folks see capitalism as the core of the problems facing our world. They are typically angry, loud, and highly committed to this world-view as a core part of their identity. Although their critique is well justified, it’s often rooted in a personal resentment that’s poorly disguised, and ultimately counter-productive. Their sound and fury, ultimately, signify (almost) nothing.
Beyond these three predominant perspectives, I see two primary emerging views that are likely to gain more traction as the future of the risk to human life on earth comes more clearly into common view:
Post Capitalist. This growing, yet still small group of people, have a more reasoned resolution to the perspective held by their younger, angrier cousins, the Anti-Capitalists. These folks believe that another system will need to replace Capitalism. While many have a strong set of Marxist and/or Socialist values, others are more curious and creative, and some more utopian. They anticipate better ways to exchange value, goods, and services, citing examples like Burning Man’s (temporary) gift economy, and Star Trek’s model of abundance, while often raising Charles Eisenstien’s Sacred Economics as a framework that inspires. My reaction to this perspective is empathetic yet skeptical. I’d like to live in a utopian future, but until I can see how we get from the factual reality of today to the visionary tomorrow, I’m leaving these ideas in the “science fiction and fantasy” section of the bookstore, and not economics.
Evolutionary Capitalist. This group accepts the paradox I named in the introduction; specifically that capitalism has a deep root in human society, and also that it’s likely to kill us. Evolutionary Capitalists resolve this tension with a notion that we must reform capitalism, and they do so from a place of responsibility and accountability. They are building new structures as examples of a new way of being fully human, and pursuing the life-enhancing personal practices that deepen their awareness, capacity, and impact in the world. Often, Evolutionary Capitalists have a background that includes a blend of traditional financial, economic, or business success, which was often followed by a deep exploration of personal meaning, and internal growth. After what is typically a 2-5 year cycle of research, intention and spiritual discovery, they take a risk, and launch a new system, company, fund, or idea that puts forward a bold solution on the edge of feasibility.
It may not surprise someone reading this far into my blog that Evolutionary Capitalism is, at least currently, my personal path and relation to capitalism. I believe it’s time for us to accept some risk and put forward active, functional solutions that embrace and resolve the fundamental paradox.
Although I retain the right to hold (and even change) my own opinions and judgements about people with other points of view, I broadly support the notion that each perspective has valid aspects, at least from one level of development, and understand that we’re all on a personal journey which is often more difficult than it appears. I have sympathy for each point of view, including Sympathy For The Devil.
So if you meet me, have some courtesy, some sympathy, and some taste…