Social-Capitalism a Vehicle for a Healthier Society Lesson Derived from the 2008-9 Crises
Amos Avny ()
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Amos Avny: Senior Management & Strategy Consultant, Omnidev International, Israel
Annals - Economic and Administrative Series -, 2011, vol. 5, issue 1, 15-28
During the second half of 2008 the world passed a severe financial brake down, which rapidly developed into a global recession. Many agreed that this crisis, caused by exaggerated greed of individuals and institutions, symbolizes the end of the Neo-liberal Capitalism dominance over the theoretical and practical approaches of economics. The general demand for a large governmental involvement in the economy, which demonstrates this collapse, together with the new character of the post-modern society encouraged the demand for another approach. The new paradigm in search is a reformed capital setup, named below as the Social-Capitalism, which will maintain a dynamic equilibrium based on a triad of Business Profitability, Social Accountability and Environmental Responsibility. This Social-Capitalist setup should be based on collaboration and Public Private Partnership (PPP) and be directed by the "common good" instead of the former individual egotistic greed. As other socio-economic issues implementing the ideas described here depends on and links to the activity of the Legislative and the Executive branches of government.
Keywords: Social-Capitalism; Business Profitability; Social Accountability Environmental Responsibility; Public Private Partnership (PPP) (search for similar items in EconPapers)
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