NEW CORPORATE MODEL
Capitalism needs makeover to shift short-term focus
The capitalist model has run into deep trouble and is mainly surviving mainly due to a lack of obvious alternatives. For most of the past century corporations were regarded as the major driver of development and innovation for society. Now it is predominantly seen as a mechanism to serve the 1%, increasingly to the detriment of the majority. While the capitalist model has often succeeded in the commercialisation of innovation, it has been entirely unsuccessful in innovation regarding its own model. Just as on the level of products and services, without innovation of its own model capitalism will surely cause its own demise. Free-market economies are often confused with capitalism. They are not the same, even though they have often occurred together. Free markets imply the right of individuals and companies freely to exchange goods and services. Capitalism’s central tenet is the ownership of companies by private investors. Yet the concept of ownership as it applies to listed companie...
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