Even though I have been thinking about it for a while, I have taken my time to write this final piece on the Capitalism 2.0 series. Well, it is my conclusion that capitalism 2.0 needs to be rooted in value creation, somewhat distanced from the reaches of the speculators who have basically hijacked the 1.0 system, and it needs to be democratic, distributed, and its fruits far reaching.
Indeed, One Million by One Million is my proposed framework for capitalism 2.0. Through extensive education and mentoring, I would like to see 1M/1M evolve into a global movement that teaches sophisticated business practices with respect to entrepreneurship and wealth creation to a significantly larger number of people.
The knowledge and expertise that has so far remained restricted to an elite group of schools and a select few entrepreneurial hubs needs to be democratized. Much, much larger numbers of people need to learn how to create value and then how to create wealth through entrepreneurship.
Rather than just a handful of companies building up to become billion-dollar enterprises, we need millions of companies building million-dollar businesses. Or even 500,000 dollar businesses. Two hundred thousand-dollar businesses. 100,000-dollar businesses. 50,000-dollar businesses. 10,000-dollar businesses.
Yes, the 10,000- or 50,000-dollar businesses are important as the developing world finds its own stride and grassroots entrepreneurs in all those regions build within their own capacity and economic realities.
I am convinced that the Western world’s economic turnaround and the developing world’s economic development are both dependent upon how well and how fast the entrepreneurs around the world step up to the plate. They are also dependent on how successfully world leaders design policies and frameworks to support this movement.
Let me also note here that the distributed capitalism I envision will largely be made up of small, private businesses, and as such, the speculators will have nothing to do with them. This will also create a somewhat more stable economic system, perhaps a little less susceptible to bubbles and shocks that cause such colossal human suffering.
I would love to hear your thoughts.
Related Reading: Capitalism’s Fundamental Flaw
This segment is a part in the series : Capitalism 2.0