Churchill said, “”Capitalism is the worst economic system, except for all the others.” “The inherent vice of capitalism is the unequal sharing of blessings; the inherent virtue of socialism is the equal sharing of miseries.”
Although the Bible dopes not explicitly promote or defend the capitalist system, it is the best we have … but it needs to be strongly influenced by Gods economy.
Last week, I was privileged to be with Bruno Roche, Chief Economist at Mars Inc. at a meeting of the European Economic Summit, who proposed an economics of mutuality. This is based on the value of the individual.
Starting with the value of the individual, the first task is to develop and invest in Human Capital. Then in the way each individual relates to and interacts with others – developing Social Capital with shared identity and values.. And then this should be developed within the framework of our Natural Capital, investing in environmental capital. Lastly, this all leads to developing financial capital.
Bruno Roche stated that if we start with developing Financial Capital as the primary goal, then this will always transpire to the cost of human capital, social capital and environmental capital. Financial Capital is the fruit of investing in human, social and natural capital and is needed for liquidity in the system.
Roche, “Marxism only wanted to pay the people at the expense of the others; Greens only want to pay the land at the expense of the others: and Modern capitalism only wants to pay the capital at the expense of the others!”
This is merely a re-iteration of the creation order! Firstly, God created the earth and gave it to man to provide and enjoy! That is natural, environmental capital. Then, God created man to enjoy the creation and develop this natural capital. He wanted people to grow and develop their gifs and talents. Human Capital. Then God observed that it was ‘not good that man should be alone,’ and created woman. Social Capital was born! Financial Capital only came as a means of facilitating the exchange of goods and services allowing people to interact, share and grow their economy. The purpose of money is not to accumulate but to facilitate!
Focus on developing human, social and natural capital and the shared financial capital will follow.
Don’t follow money, money will follow you. Read the rest of this entry »