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TRUE VALUE METRICS |
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THESE ARE TODAY'S DOMINANT METRICS
SUCH METRICS ARE NOT FIT-FOR-PURPOSE | ||
GDP GROWTH | CORPORATE PROFITS | STOCK PRICES |
|
BETTER METRICS
MUST TAKE INTO ACCOUNT ALL THE CAPITALS NOT JUST FINANCIAL CAPITAL AND MONEY WEALTH | ||
SOCIAL CAPITAL SOCIO |
NATURAL CAPITAL ENVIRO |
ECONOMIC CAPITAL ECONOMIC |
Social and economic progress has been achieved over the past 200+ years by exploiting natural capital. All value originates with nature and everything depends on nature. This is unsustainable, but technological innovation can (must) be used to change things for the better. |
ACTIVITIES have IMPACT on ALL the CAPITALS | ||
SOCIAL IMPACT | ENVIRONMENTAL IMPACT | ECONOMIC IMPACT |
There is a cost of living to support quality of life
There are contributions that people make There is net benefit AND change to capitals (hopefully positive) |
There are storms, earthquakes and natural disasters
Ecosystem services are a source of all value There is net benefit AND change to capitals (mostly negative) |
There are operating costs for all oconomic activities
There are benefits from economic activity There is net benefit AND change to capitals (hopefully positive) |
CONSUMPTION DRIVES THE MODERN ECONOMY
WITH IMPACTS ON SOCIETY, ENVIRONMENT AND THE ECONOMY! | ||
CONSUMPTION | IMPACTS OF PRODUCTION | |
Quality of Life
SOCIO |
Pollution (BAD)
ENVIRO |
Profit (GOOD)
ECONOMIC |
Consumption is driving the modern economy. It looks like success as long as the depletion of natural resourcs and the degradation of the environment is ignored.There is strong correlation between better quality of life and more consumption in poor economies, but less so in mature rich economies. Rich economies are increasingly associated with catastrophic pollution, waste, inequality and inefficiency. |
ACTORS ARE PEOPLE IN MANY DIFFERENT ROLES.
MANAGEMENT METRICS NEEDED FOR EVERYONE ALL MUST BE HELD ACCOUNTABLE INCLUDING THE RICH AND POWERFUL! | ||
AS INDIVIDUALS
Live life ... work & family |
IN ORGANIZATIONS
Do the work ... make the decisions |
AS INVESTORS
Allocate financial resources |
Prevailing metrics and financialization have had mixed results ... very good economic outcomes for an elite few, but extremely disappointing for everyone else. The concentration of wealth and power is fueling global discontent in very destabilizing ways, including social discontent and anger at the establishment elites and increasingly out-of-control climate instability. |
NATURE IS ALSO AN ACTOR
NATURE IS THE SOURCE OF ALL VALUE AND PREDATES PEOPLE BY MANY BILLIONS OF YEARS | ||||
WATER, AIR, ETC. | MINERALS | VEGETATION | ANIMALS | |
The natural world is complicated and amazing. It is thought-provoking to look up into the sky and to apprciate how large the universe. And then there are all the amazing things in the natural world on earth that exist and are available for people to use, How all these things got to exist is difficult to comprehend! |
FOR EXAMPLE: NATURE MAKES A FISHERY SUSTAINABLE | ||
JUVENILE NURSERY | INDUSTRIAL FISHERY | SEAFOOD MARKET |
|
CONSIDER ALL THE PERSPECTIVES
ECONOMIC ACTIVITIES (PROCESS) PRODUCES PROFIT ... LOT'S OF IT BUT ALSO HAS IMPACT ON PEOPLE, PLACE & PRODUCTS | ||||
PROCESS
Engineering |
PROFIT
Economic goal |
PEOPLE
Families |
PLACE
Where people live |
PRODUCTS
Quality of Life |
There is valueadd when there is a positive balance from every perspective. Process is constrained by technology and engineering. Optimizing for profit alone is not enough, people should also progress. And the progress of people is enhanced by the characteristics of the place. Products impact everything. The production of products is a factor in the generation of profits. The consumption of products is a factor in quality of life. Optimizing for all of this is not a simple exercise ... but optimizing simply for profit is not enough. |
IMPERATIVE FOR RADICAL ACCOUNTABILITY
EVERYTHING FOCUSED ON PROFIT PERFORMANCE MAKES NO SENSE | |||
We talk about profit and money and wealth | But not about low wages, poverty and deprivation | And how the system is rigged in favor of the wealthy | And all sorts of abysmal hidden corporate behavior |
The only group that are protected systemically are investors ... everyone else may be lied to with impunity. In the USA it is called the First Amendment. But there is nothing to stop society from doing RADICAL ACCOUNTABILITY so that misfeasance in every aspect of society is exposed. |
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