Capitalism has over-focused on profit-maximization to the detriment of workers, the environment and even the businesses themselves, but by balancing the needs of all stakeholders, capitalism can thrive again. As business becomes an ever more powerful institution, it must similarly accept this responsibility for the wellbeing of all citizens. There is no doubt that while Capitalism and free trade has been good in the aggregate, it has not always been positive for all individuals. Unless our growth is inclusive, it will not be sustainable. The good news is that businesses that do care for the wellbeing of all stakeholders and have a purpose beyond making profits are more sustainable AND successful. If we can evolve toward a more Conscious Capitalism, we can achieve more inclusive growth while also achieving the systems-level cooperation necessary to tackle the global issues we face.
