Beyond Consumer Capitalism—Foundations for Sustainable Prosperity | Paper

Consumer capitalism is unsustainable in environmental, social and even in financial terms. This paper explores the ramifications of the combined crises now faced by the prevailing growth-based model of economics. It traces briefly the evolution of western notions of progress and in particular it critiques the very narrow view of human nature on which these notions were built. A wider and more realistic view of human nature allows us to recover more robust meanings of prosperity and to establish the foundations for a different kind of economy. The paper explores these foundations. It pays a particular attention to the nature of enterprise, the quality of work, the structure of investment and the role of money. It develops the conceptual basis for social innovation in each of these areas, and provides empirical examples of such innovations. The aim is to demonstrate that the transition from an unsustainable consumerism to a sustainable prosperity is a precise, meaningful, definable and pragmatic task.