Capitalism & Slowbalization - Market, State and Crowd in the 21st Century
Capitalism has been around for some time now, in more or less the same form and with the inevitable booms and busts that accompany economic growth. Since communism faded and globalization hit a new high around the turn of the Millennium, capitalism has seemed to be the only economic system left to rule the world.
Capitalism always depended on two factors: the market and the state. Some economists have favoured the influence of the free market, while others have advocated more state interference, but neither group saw any other significant players in the system. But now a new power, a third variable, has come into play: individual economic actors creating a powerful crowd.
This is because in recent years, individuals have gained far more power, largely as a result of the digital revolution. We can now access information and computer power whenever and wherever we want it. We can buy a 3D-printer and turn our designs into saleable products. We can finance one another's businesses through crowdfunding.Digitization and globalization have turned passive consumers into active consumers-producers-financiers. In the meantime the state has lost more and more control, while lasting low interest rates have decreased the influence of the market. Globalization is taking a slower pace and turning into slowbalization.
The last expansion phase of capitalism, the economic boom that lasted until 2007, produced financial excess due to greed, which plunged us into a worldwide recession. This ruthless side of capitalism had another consequence: it reinforced already existing hatred against western societies. Hatred that is expressed through anti-western violence, for example from ISIS and al-Qaeda. Recently we have witnessed the rise of an Axis of Hate opposed to the Axis of Ruthless Capitalism.
But part of the western elite recognizes the harsh side of capitalism and is adopting a new moral stance which has led to new forms of Karma Capitalism co-existing with The Capitalism of Greed. In the years to come karma capitalists will join in an Axis of Hope to overcome ruthless capitalism and fight the nihilistic Axis of Hate. A war economy will develop, triggering innovation. Bakas call this the'Israelization of the West'.
Adjiedj Bakas (1963) is a highly acclaimed futurologist, author and speaker with roots in India, Latin-America and Europe. He researches financial, social, economic, technological and spiritual trends and interprets these for an array of clients. His previous books have sold more than 700,000 copies and have been translated into German, English, Chinese, Portuguese and Norwegian. He is a regular lecturer and is considered 'a very important trendwatcher' ( China Daily), who 'brilliantly uses his roots in three continents' (Times of India) and 'explodes with enthusiasm' (Suddeutsche Zeitung). According to Dutch daily NRC Handelsblad he is 'the major trendwatcher of the Netherlands'. Bakas is provocative but always positive, even in these times of economic decline, hence his favourite phrase is: 'A kite rises highest when it flies against the wind.'
A video on the book can be viewed: https://www.youtube.com/watch?v=X1uYm80cYEI
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