2020 has been a watershed year, with a global pandemic changing not only the way we live and work but also how we think and interact. It has made us aware of our vulnerabilities and, more importantly, our strengths.
There is no turning back to the old days and old ways. Mutual cooperation, concern and mindful action are the way forward. Just one percent of the world’s total population holds 44% of global wealth and half of the world lives on less than $5.50 a day. Yet the global health crisis has highlighted the fact that at one level, everyone is in the same boat.
Meanwhile, the perceptible impact of climate change around the world is a call to action for nations, organisations, companies — and each of us.
The free market economy has unarguably snapped the shackles of feudal inequalities. Its unbridled energies have lifted millions from poverty. Capitalism has powered innovation and created aspiration. Importantly, it has helped build free societies, where the optimism of market forces combines with equal rights and institutional transparency.
But now, more bold ideas are called for to bolster employment, heal society and restore confidence. Conversations on the need to reimagine ongoing systems and practices to make them more inclusive, intuitive and sustainable have taken place over the past decade, but never has the urgency to rethink and reinvent been more apparent.
Lockdowns have made us pause and reflect. Cumulative actions of the past have led to valid questions about whom capitalism truly benefits and what’s next.
It is with these issues in focus that ET Evoke aims to bring you the best ideas from the best minds in business and academia on a new purpose for us, as people, organisations and societies. Our distinguished experts will share their innovative insights on the goals and values of a new age. We will identify examples of purposeful private enterprise that addresses all stakeholders from employees to communities and demonstrates commitment to justness and sustainability.
ET Evoke believes that the combined positive energies of a reimagined conscious capitalism and reinvigorated societies will create a virtuous cycle of sustainable profit. And you, dear readers, will be on the inside track.
The conundrum is, capitalism creates inequality, and corrects it too
RISE to the occasion: Capitalism’s purpose must benefit communities, says Mahindra Chairman
Virtue economics is vital for capitalism: Jeffrey Sachs, American economist
Firms with sustainable purpose are doing better by all measures: Lord Nicholas Stern