Towards a Regenerative Economic Architecture: Scaling Non-Extractive Capital Beyond Debt, Equity, and Philanthropy

Roshan Ghadamian
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Roshan Ghadamian: Institute for Regenerative Systems Architecture

IRSA Working Papers from Institute for Regenerative Systems Architecture

Abstract: Modern economies rely on three capital forms — debt, equity and grants — whose logics of extraction, dilution and depletion make them structurally incompatible with long-horizon, fragility-dominated domains: climate adaptation, scientific capability, public health infrastructure and mission-driven enterprise. Perennial Social Capital, Regenerative Capital Theory and Alignment Capital identify a missing quadrant in the capital taxonomy: non-liability, non-extractive, multi-cycle regenerative capital. This paper develops the macroeconomic architecture that quadrant requires. It models the capital phase space in which regenerative systems remain stable, derives long-horizon dynamics under variable recycling and capability accrual, and explains why regenerative pools expand relative to philanthropic inflows through temporal compounding rather than interest, leverage or risk transfer. It then outlines sovereign, sectoral and global regenerative capital markets, and the governance — transparency, mission-lock, soft obligation — that keeps them from drifting back into the forms they replace. âš ï¸ One headline figure is corrected rather than carried. The source states an expansion of 20–100× over philanthropic inflows, unqualified, in four places. On the paper's own formula and its own thirty-cycle horizon the range is 5× to 26×, and 20–100× is the infinite-horizon turnover multiple 1/(1-R) over R ∈ [0.95, 0.99]. states the corrected figures and shows the argument does not need the larger ones.

Keywords: regenerative capital; capital phase space; recycling rate; capability return; non-extractive finance; cycle constitution; sovereign capital pools; temporal compounding (search for similar items in EconPapers)
JEL-codes: E22 G32 H54 O16 Q01 (search for similar items in EconPapers)
Date: 2025-12
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