Fates of Capitalism

 

Fates of Capitalism, the Equinomy of the Quatenary is a book aiming to transform capitalism (and to avoid returning to socialism or communism). It explains the next phase after capitalism, around the next technology revolution, robotics. Its goal is to avoid the abuses of power from capitalism and to fix many current mistakes, both against the environment, societies and the whole economy. The solution to capitalism imbalance presented here is a great step forward toward more freedom and balance, more ecology and justice, toward an equitable market economy in equilibrium (hence the name Equinomy). 

 

Fates of Capitalism stems from two distinct origins : a real world experience as a Venture Capitalist, investing in start-ups since 2002 and a thesis in philosophy (on Capitalism and Market Economy at La Sorbonne, Paris, 2015) . It concludes 15 years of work both in theory and in practice, a unique combination explaining the novelty of these ideas. This book now needs significant media exposure to make it known, to apply this new solution to the world. The most important thing is actually to change the world, to repair it instead of watching (or participating to) the destruction of the environment, the rise of violence and extremism and the sadness of our abandoned people. It starts by changing the way you understand it, by offering a new solution.

 

The Two Fates of Capitalism

 

40 years ago, capitalism fell ill and never recovered : its condition worsens since. Capitalism today faces a decisive choice, linked to the next technology revolution, robotics. Two opposite fates arise : one would see its cure, the other the prolongation of the illness. This second darker destiny is sadly the most probable nowadays : a rush ahead toward even more inequalities and imbalance, bringing us closer to a catastrophic ecologic, social and economic crisis. Still, hope remains. Capitalism can still get out of it. To cure it, and us at the same time, we need an original medicine,  born from a new paradigm where freedom, balance and progress are united. It is still time to decide the fate of capitalism. 

 

Capitalism has become crazy and the treatment lies in the correct construction of the quaternary sector, the next major economic sector where humans will work, after the primary sector (agriculture), the secondary (industry) and the tertiary (services). The inevitable transformation of our economies by robots produces this new economic sector named quaternary, capable of curing capitalism as well as worsening it. The quaternary, if properly organized,  will cure capitalism by freeing people instead of enslaving them and opposing them. Robotics will create a vast mutation of our jobs, bringing us to creativity and emotions. We need to face this change and order it in the best way possible to avoid resistance or submission, to allow all and everyone to enjoy the benefits of progress. Instead of dreaming it and awakening in a nightmare, humanity must now organize the future to share efficiently and fairly the large productivity gains from the revolution of robots and from the other revolutions of the past. The brighter fate of capitalism advocated in the book, instead of the more dangerous one we all sense, is still doable.

 

Overtaking the marxist view of capitalism limited to the conflict between work and capital, repositioning the advantage of progress of Schumpeter and going deeper into the justifications of capitalism stemming from Weber and Hirschman's works, this book transforms the whole idea of capitalism. Capitalism as an idea becomes clearer, neater and closer to reality. Capitalism and market economy start to separate, giving room to an understanding of our capitalist market economy, the economic system in which we live. Other possible market economies exist then, with diverse power configurations. One of them stands out, a balanced market economy without any dominant power.

 

The conceptual separation between capitalism and the market economy allows to think a new post-capitalist market economy where balance of power is key. Revealing power in economy and economics results in a new system of thought where capitalism is not the only one with power in companies, where productivity gains are shared fairly in a consensus and where the market economy is not anymore only maximizing the cold competition. A balanced and free market economy - where environment is fundamental again - emerges, controlling capitalism abuses. After political freedom, economical freedom is born from the cure of capitalism. In a properly organized quaternary sector, robots will even help us give birth to this new freedom. Freedom is not capitalism, freedom is beyond capitalism.

 

Fates of Capitalism solves the main problems of capitalism :

- Destruction of the environnement : through the end of the domination of profit and consumerism over environnemental problems (in companies through a new compensation scheme for CEOs and in individuals through a transformation of their comparison processes)

- Injustice : through a fair distribution of productivity gains (especially regarding the robotics revolution) and the end of arbitrary property, thanks to a significant basic income correlated to production (50% of GDP) 

- Abuse of power : through a balanced corporate governance between customers, shareholders and employees and through the economic liberation of individuals

 

 This book also corrects the errors of existing financial markets through a new market economy theory and offers a new picture of human activity, filled with creativity, emotions and peace. Human fulfillment is not that far anymore. Equinomy transforms capitalism.