Welcome to the Investors Trading Academy talking
glossary of financial terms and events.
Our word of the day is “Conscious Capitalism”
No economic system gives as much freedom for
entrepreneurship and innovation as the capitalist
system. In its current format, however, capitalism
also reflects the negative side of human nature:
greed, belligerence, and harm to the public
and the earth. Global changes in the 21st
century pose challenges to the business community
requiring that it chart a new course. The
sated Western world has given birth to a millennium
generation that expects businesses to behave
ethically, demands a rewarding and meaningful
work life, and is well acquainted with its
power and value as both employee and consumer.
There are companies in the world that act
according to a new revised model of capitalism.
They operate with concern and care for all
the people involved with them, enabling capitalism
to leverage its creative capabilities and
human cooperation. As a result, they are achieving
substantial economic success.
Examples of conscious capitalism abound in
the actions and philosophies of companies
such as Whole Foods Market, Southwest Airlines,
Costco, Google, and The Container Store. Walmart,
the world’s largest corporation, announced
plans to purchase an additional $250 billion
worth of products made in the U.S. during
the next decade, hopefully helping to reinvigorate
the American manufacturing base. Walgreens
pioneered a company-wide effort to prove that
people with disabilities can be exceptional
employees, capable of the same production
and entitled to the same compensation as able-bodied
workers.
