Worried About A Crumbling Social Compact? Relax With Some "Inclusive Capitalism"!

[hatrack]

EDIT

The impetus for this, however, lies in the growing recognition that if such reforms are not pursued, global capitalists will be overthrown by the very populations currently overwhelmingly marginalised by their self-serving activity. As co-chair of the HJS Inclusive Capitalism taskforce, McKinsey managing director Dominic Barton, explained from his meetings with over 400 business and government leaders worldwide that:

"… there is growing concern that if the fundamental issues revealed in the crisis remain unaddressed and the system fails again, the social contract between the capitalist system and the citizenry may truly rupture, with unpredictable but severely damaging results."

Among those "damaging results" – apart from the potential disruption to profits and the capitalist system itself - is the potential failure to capitalise on the finding by "corporate-finance experts" that "70 to 90 percent of a company's value is related to cash flows expected three or more years out." Indeed, as the New York Observer reported after the US launch of the Henry Jackson Initiative for Inclusive Capitalism, the rather thin proposals for reform "seemed less important than bringing business leaders together to address a more central concern: In an era of rising income inequality and grim economic outlook, people seemed to be losing confidence in capitalism altogether."

Lady Lynn Forester de Rothschild, who co-hosted yesterday's conference, told the NY Observer why she was concerned:

"I think that a lot of kids have neither money nor hope, and that's really bad. Because then they're going to get mad at America. What our hope for this initiative, is that through all the efforts of all of the decent CEOs, all the decent kids without a job feel optimistic."

Yep. Feel optimistic. PR is the name of the game.

EDIT

http://www.theguardian.com/environment/earth-insight/2014/may/28/inclusive-capitalism-trojan-horse-global-revolt-henry-jackson-society-pr-growth

[vt_native]

1. How Shallow

Ms. Rich, doesn't want to fix the real issue, but wants to, through PR bullshit, create hope.

"Priority of needs" comes to mind.

[PowerToThePeople]

2. "Hope" worked before

What did we get? More facsism.

[Erich Bloodaxe BSN]

3. I have hope.

Seeing that more and more people are thinking about abandoning capitalism makes me quite hopeful.

[Ichingcarpenter]

4. Notice the elites are worried on their station

Sobering Up: Why the 1% Is Fussing About Guillotines ...



On the June cover of the conservative magazine American Spectator, a vision arises from the collective unconscious of the rich. Angry citizens look on as a monocled fatcat is led to a blood-soaked guillotine, calling up the memory of the Reign of Terror during the French Revolution, when tens of thousands were executed, many by what came to be known as the “National Razor.” The caption reads, “The New Class Warfare: Thomas Piketty’s intellectual cover for confiscation.” One member of the mob can be seen holding up a bloody copy of the French economist’s recent book, "Capital in the Twenty-First Century."


Much more.............


http://www.democraticunderground.com/10244866

[hatrack]

5. Shameless Self-Kick

.

[TBF]

6. "Inclusive Capitalism"

Sounds like a phrase Orwell could've dreamed up. Talk about an oxymoron ...

[socialist_n_TN]

7. Yep. Because inherent under capitalism is a VERY few winners.......

and a WHOLE lot of losers.

[el_bryanto]

8. I didn't find the argument compelling. It strikes me that any attempt to improve

capitalism - to make it run more fairly and to regulate it - can be seen as an attempt to paper over the faults with capitalism. It puts us in the awkward position of wanting capitalism to be cruel so that it will drive people to over throw it.

Bryant

[hatrack]

9. Anybody here feel like a tall, frosty mug of Inclusive Capitalism?

It's hot out there in the garden, and I sure could use one!

[Ruby the Liberal]

10. Social Contract?

[hatrack]

11. Different words, same concept . . . I think. I have been wrong in the past, my wife reminds me . .

[Ruby the Liberal]

12. Actually, I was hoping there was a new buzzword out there

Social Contract seems to fall on deaf ears lately.