Capitalism in question

The merits of capitalism and what form of economic governance is needed post-crisis is at the centre of a review by a Griffith University sustainability expert.

The free downloadable review, called Capitalism in Question, summarises over a dozen books published in 2009 and describes how politicians and business leaders are calling for a critical assessment of the economic systems we need for a fair and sustainable future.

Leader author Associate Professor Jem Bendell from Griffith University said the majority of these new books defend capitalism.

“The dual financial and climate crises are leading people in all walks of life to question the kind of economy that makes sense for their businesses, communities and families,” explains Associate Professor Bendell, who is also director of management consultancy Lifeworth.

“As well as some anger at bankers, the financial crisis has led many to ask deeper questions about finance in general and, therefore, about capitalism.

“From bars to seminars, bookshops to board meetings, capitalism is beginning to be discussed - openly and critically,” he said.

Associate Professor Bendell said the review is a call for people to become involved in developing fair and sustainable societies.

“Behind the jargon of corporate social responsibility, corporate accountability, environmental management, social enterprise and responsible finance are people like you and me who want to change the way business does business and the way money makes money.

“We need more governance of capital by people who are directly affected by its ownership and control.

Griffith University’s Asia Pacific Centre for Sustainable Enterprise Director Professor Malcolm McIntosh sponsored the review so it could be released publicly for free.

“Capitalism will change, there is no doubt, and it must change so that it delivers both private wealth and public good,” Professor McIntosh said.

Professor Bendell said there are important implications for management education.

“In Griffith University’s new Graduate Certificate for Sustainable Enterprise, we help our students to navigate increasingly complex social and political contexts so they can find ways to prosper by being part of the solution.”

Capitalism in Question is available in pdf for free at www.lifeworth.com/consult.

Information on Griffith's research centre is available at www.asiapacificsustainableenterprise.com.