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HerbEppel's picture

Jeremy Leggett's appraisal of modern capitalism

In 2007, probably very few people would have had doubts about the viability of capitalism as a global operating system. Now growing numbers harbour such doubts, many believing that before things can improve materially there must be root-to-branch reforms. Hence, of course, some of the recent initiatives such as the "Capitalism in Crisis" debate in the FT, the Kay Review of equity markets, and the Breakthrough Capitalism Forum: http://www.breakthroughcapitalism.com/.

As part of the latter, I was asked to give an honest appraisal of modern capitalism, as I have encountered it during my dozen years as an entrepreneur in cleantech, and my thoughts on where the system is headed with and without fundamental reform. My effort to do so is of course a personal view, but it is one rooted in a collective adventure in business, which the organisers asked me to recount as context. In case you find a bit of time to watch the video, which is 17 minutes long, it is here http://www.youtube.com/watch?v=77jmQ762hzo.

I offer these thoughts earnestly hoping they might be a useful contribution within the much broader emerging debate, and so I would be more than happy to respond to any comments or questions. .

Onward to whatever happens next!

Best regards

Jeremy

Jeremy Leggett
Founder and Chairman, Solarcentury and SolarAid
Chairman, CarbonTracker
www.jeremyleggett.net
Twitter: @JeremyLeggett
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Video summary: Peak Oil and 6C world. Root to branch reform necessary, financial system close to destruction, system blind to existential threats- dysfunctional / suicidal. PR industry- below the line influence on news production - exaggeration of problems with renewables, every small find of oil/ gas presented as salvation.
Next shock not able to be dealt with by rescues.Can we avoid terminal disaster? I don't know ...

Paul