| Sramana Mitra, in her post ‘Capitalism's | | | | We need to value talent and connections far more |
| Fundamental Flaws', has made a very important point: | | | | than capital. The individuals and organizations that are |
| the capitalistic system is not rewarding the right people | | | | best able to leverage not just talent but talent |
| – the innovators and creators. | | | | networks will generate far more value than firms that |
| Sramana has raised valid concerns about capitalism | | | | have access only to large capital. As Sramana says, |
| and the need to debug it. She's right about many | | | | the value equation will need to shift back to the people |
| bankers and venture capitalists walking away with the | | | | disproportionate share of the gain. |
| pie and leaving the innovators and entrepreneurs with | | | | More importantly, our definition of value has to change. |
| the crumbs. She's also right to blame unregulated | | | | With our Industrial Age mindset, we automatically read |
| greed for the unprecedented financial meltdown that | | | | ‘money' when we hear ‘value' -- just as an |
| has had ripple effects through every sector of the | | | | exercise, re-read the previous paragraph to check out |
| economy. She calls for Capitalism 2.0 to evolve a | | | | whether this statement is true. |
| better, fairer system. | | | | We need to replace this with more holistic, |
| While I agree with her on the problems, I don't think | | | | well-rounded definitions of value. To recognize and |
| Capitalism 2.0 is the solution. The Agrarian Age was | | | | acknowledge what drives people to contribute to |
| largely about land as a source of power, while the | | | | movements like Open Source or Wikipedia. Or the |
| Industrial Age has been about capital as the source of | | | | value we get by participating in environmental and |
| power. The Industrial Age has run its course, making a | | | | social movements like Green Peace or Sai Seva. Why |
| billion people super rich, a billion super poor and leaving | | | | should we short-change ourselves with the belief that |
| the world's remaining four billion somewhere in | | | | money is our only motivator? |
| between. | | | | We need to go beyond capitalism, and nurture more |
| It has depleted almost 60% of our ecosphere in just | | | | innovative forms of human activity that are more in line |
| 200 years – more damage than all of mankind | | | | with the new, connected age. While I don't have the |
| could manage in 50,000 years. The premise of New | | | | answers – I don't think any individual does – I |
| Constructs is that the industrial age -- with its focus on | | | | would like to catalyze conversation to help us all work |
| capital, money and wealth as the predominant | | | | together to take the world to the next level. That's the |
| measure of success – has to be replaced with a | | | | New Constructs opportunity. Stay engaged, stay |
| more inclusive, sustainable era – the Connected | | | | happy. |
| Age for want of a better phrase. | | | | |