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Date: 2024-08-16 Page is: DBtxt001.php txt00024146 |
MANAGEMENT METRICS
THE FOUR CAPITAL MODEL THE FOUR CAPITAL MODEL, MATRIX AND ACCOUNTS ... by-Bojan-Radej Open PDF ... The-Four-Capital-Model-by-Bojan-Radej 'http://truevaluemetrics.org/DBpdfs/Economics/OECD/The-Four-Capital-Model-by-Bojan-Radej.pdf' Peter Burgess COMMENTARY The idea of multiple capitals has been fundamental to my thinking going back to my university days. Capital and capitalism are difficult to understand without some clear appreciation that capital is more or less equivalent to resource. The prevailing management metrics which use money as the ubiquitous measure for everything cannot work. By (economic) definition the value of money is determined in large part by a 'market mechanism', while a core characteristic of a good 'measure' is that it has a constant characteristic. On this, of course, money fails, yet it is a core component of everything to do with economic management. Why is this? I think it has something to do with the behavioral characteristics of humankind. Some people have a lust for power and figure out how this can be achieved. Others are more subservient and 'go along with the flow'. This can work, but it also can result in catastrophe ... and experience suggests that the latter happens more often than not. But something else has been going on during the last few thousand years that we know about. People have built up a store of knowledge and learned more and more about how to be more and more 'productive'. A multitude of tools and materials have been invented over the years, and the pace of this has accelerated in an amazing way in the recent few centuries. The pace has never been more rapid than in the last few decades. Sadly, this is not all good. The power of modern technology has the potential to be deployed for the wrong reasons as well as for the right reasons and it has become fairly clear that much of modern technology is doing rather little to make quality of life better for the majority of people nor to preserve nature and the environment so that these essential services are available into the future. It should be of concern that the USA ... arguably the richest economy and society in all of history ... has a society that is so unhappy. What has gone wrong? What needs to be sone to fix the problem? Peter Burgess | |||
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