Capitalism 2.0

Folks are looking for green shoots of growth and yearning for an upbeat report on the economy. Many wonder which industry would help kick start the economy. Some say it would be green tech, some say it would be high tech, and the speculation goes on... Here's an economist who says that growth will not be spurred by an industry but by an institution -- a different kind of institution.

Umair Haque observes that capitalism as it's been practiced so far has led us to this mess, and claims that it is not sustainable any longer. He suggests that a collaborative capitalism should and will replace the status quo.

The beauty of Capitalism 2.0 is that it is not anything like socialism, as some might suspect. Interestingly, it shares some traits with Web 2.0 [the long tail, wisdom of the crowds], and underscores the importance of running a business that focuses not only on income, but more so on the outcome -- the value gained by its consumers.

If you have the time, I'd suggest you watch this video from Haque's session on the same topic, with several examples [Threadless, Etsy, Nike, Walmart, to name a few] and exhibits [Global GDP Growth & Interaction explosion patterns].

Umair Haque @ Daytona Sessions vol. 2 - Constructive Capitalism from Daytona Sessions on Vimeo.