Regenerative Capital Systems: A Formal Analysis of Multi-Cycle, Non-Liability Capital Architecture

Roshan Ghadamian
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Roshan Ghadamian: Institute for Regenerative Systems Architecture

IRSA Working Papers from Institute for Regenerative Systems Architecture

Abstract: Long-horizon institutions fail not because of weak governance or insufficient resources but because the capital structures funding them are temporally misdesigned. Debt, grants, equity and philanthropy are governed by short-horizon financial, political and civic cycles fundamentally misaligned with the long-duration mission cycles of infrastructure, scientific capability, climate adaptation and intergenerational public goods. The mismatch causes capital to arrive too early, too late or too discontinuously, producing capability decline regardless of managerial competence. This paper works the cycle ontology of Ghadamian through at the capital layer: what it means for a capital system specifically to be single-cycle, how each traditional form inherits fragility, and what decoupling and alignment require of an instrument rather than of an institution. We show that traditional capital is structurally single-cycle and coupled to volatility through four distinct channels — liabilities, discretionary renewal, extraction and termination — and state the conditions under which capital can be decoupled from fragility and aligned to mission, yielding stable, non-extractive, multi-cycle capital behaviour. âš ï¸ The coupling is a property of the instruments in use rather than a necessity of capital: the corporate form was closer to multi-cycle within living memory and was changed by doctrine rather than by law the paper). That makes the conditions below a design specification rather than a description of what capital must be — and it is why the paper argues at the level of the instrument.

Keywords: regenerative capital; capital architecture; non-liability capital; multi-cycle capital; fragility inheritance; cycle alignment (search for similar items in EconPapers)
JEL-codes: E22 G23 H41 O16 (search for similar items in EconPapers)
Date: 2025-12
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Persistent link: https://EconPapers.repec.org/RePEc:evk:wpaper:rcs

DOI: 10.2139/ssrn.5848902

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