Tekena Fubara

Reframing Capitalism for Sustainability Tekena Fubara

Capitalism needs to transform, as its engine's real purpose - business - to solve society's problems and not profit from causing problems to the community. Everyone needs to feel a sense of justified belief in the capitalist system that offers an equitable share in the benefits. We need to move away from the new rentier capitalism into which we are gradually drifting into. The broader ramifications and implications of which are degraded democracies, a more minor middle-class, impact to social mobility, weakened aggregate demand, slower economic growth, and a penultimate challenge to globalisation and capitalism in itself. We would therefore review some of the fundamental neoclassical principles of economics that need to change, as well as how to better incorporate sustainability principles to create a more fairer world.