Breakthrough Capitalism
A conference in London on 29 May 2012

About 'breakthrough' in workshop images

COMMENTARY

Peter Burgess

2020 backcasting

Synthesised report out

Barriers Power and failure of the incumbency Short-termism Tendency to nationalism Broken global systems Media

FLOTILLA/CATALYSTS Pension funds Indviduals Socilam movements Transparency Super-brands (debatable) SHARING/COLLABORATIVE → new models → non-rich Mega CEO as icon

Four lenses SYSTEM BUSINESS MODELS INDIVIDUALS FINANCIERS Two approaches: ANGEL CONSUMER – doing the ‘right thing’ DEVIL CONSUMER – doing the ‘easy thing’ COMMONALITIES Top-level: universal values, focusing on individual needs WIN-WIN (not a zero-sum world) Mix of service and technology

RESET in ten years 1) redefine value 2) redefine players VALUES & PLAYERS Happiness as a driver Transparency and meritocracy Pluralism and diversity TBL Ethical frameworks Accountability and consequence – aligned incentives Consumption Redefined! IP ownership/deployment/utilization “People want to be more, not have more.” Ownership models / collaborative consumption models Cradle-to cradle Intergenerational Shareholder → stakeholder Creation w customers Valuing ecosystem services

League of a revolution: a story [It all got worse before it got better] DESTRUCTION: (6 horsemen of the apocalypse) war financial systems civil unrest environment political pensions/intergenerational CREATION: (flotilla) transparency networks (internet) leaderless revolution – society coming together and being driven by mission mission-driven new value post binary collaborative consumption no blueprint 'Breakthrough capitalism will come from the breakdown of the old capitalism.'

AGREE rethink values and actions need to rethink valuation & discount crisis & constraint – perfect place for innovation & need for information to manage it new forms of organization & exchange – can’t work in isolation, have to work together will need different sizes and scales of actors DISAGREE will capitalism bring about this change? Something big has to happen - Pandemic? Will the rich prevail? Dystopian future We’re not engaging enough with reality to realize systems are broken. Will people notice? That’s a worry for us. Is it going from too much to enough?

Mrs. ME I consume habitually No idea where my pension is invested My children will have the best education that can be offered. I don’t care what undermines me. I care though. 2% of my income into charitable causes. I think I’m happy. Except I get a bit depressed sometimes. 3 Guardian Angels: Kelly Clark: Values – collective consumption, community, collaboration, idea of economic growth being possible without reaching planetary boundaries, ways we can create collective communities without undermining individuality Nations working together – collective role models, in addition to individuals (including ME). We value talent and the collective. Reciprocal communities - access

2012 TOOTHBRUSH (flotillas, log) – ideas are like a toothbrush – everyone needs and wants one, but no one wants to use anyone else’s – main obstacle. fear of failure short-term toothbrush youth disengagement culture of dependency 2022 ANGELS JUMPING OFF A CLIFF: very few will grow wings and be prepared value alignment new order ask different questions new rules of engagement amnesty culture of ownership challenging assumptions Use another toothbrusth.

WINDMILL OF INNOVATION Innovation won’t happen on its own, needs momentum. Social Financial Culture Regulation Political INNOVATION Values: social & environmental WIND: aspirations / catastrophe / preferences / inequalities WIND OF CHANGE: sustainable / good life / for the majority Mandatory and voluntary action are going to have to converge Social value will be collapsed into the price of a product or service.