Stowe Boyd on Slow Capitalism

A very good comment by my Futures Agency colleague Stowe Body: we need to reboot capitalism. Underpaid Genius • Slow Capitalism

‘Sustainable Capitalism’ is a term dreamed up by enlightened and benign members of the 1%: an admonition by the members of the elite to the elite, saying in effect that they should to play more fairly. But it’s not broadly based enough for the 99%, who demand a system rooted in justice, not just a suggestion that the overloads agree to crush us a bit less. What we need is ‘slow capitalism’. A system that rewards all for their work and investments, but which is founded on the full accounting of costs in the world. Businesses cannot be allowed to make a huge profit by moving operations to an unregulated corner of the world where there are no environmental regulations, and spewing poisons into the air and ocean. Investors cannot be allowed to make money on pointless financial transactions that add no value, but simply bleed money from a broken system. And the time horizon of our considerations must be reckoned in decades, not in quarters or microseconds.

Like slow food — which is not really about having leisurely meals, but is all about our obligate connection to the food chain and the earth that sustains it — we need slow capitalism: a world order based on our obligate connections to each other, based on the premise that economic forces should not be used to do harm, but to benefit us all.

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