Welcome to the worst decade since the Great Depression. Trillions of dollars of financial assets and shareholder value destroyed; worldwide GDP stalled; new jobs vanishingly scarce. But this isn’t just a severe recession. It’s evidence that our economic institutions are obsoletea set of ideas inherited from the industrial age that no longer work for business, people, society, or the future.
In The New Capitalist Manifesto, economic strategist Umair Haque argues that business as usual has outgrown the old paradigm of short-term growth, competition at all costs, adversarial strategy, and pushing costs onto future generations. These outworn assumptions are good for creating only “thin” valuegains that are largely illusory and produce diminishing returns every year.
For “thick” valueenduring, meaningful, sustainable advantage that deeply benefits the larger societyHaque details five new cornerstones of prosperity in the twenty-first century:
Loss advantage: From value chains to value cycles
Responsiveness: From value propositions to value conversations
Resilience: From strategy to philosophy
Creativity: From protecting a marketplace to completing a marketplace
Difference: From goods to betters
The New Capitalist Manifesto makes a passionate, razor-sharp economic case that these methods will produce a more enduring prosperity for business as well as society.