Date: 2024-10-06 Page is: DBtxt003.php txt00005779
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Discussion: A Journey in Search of Capitalism 2.0 - Please download the paper and Be Part The Change!
Burgess COMMENTARY
Peter Burgess
A Journey in Search of Capitalism 2.0 - Please download the paper and Be Part The Change! Brad Zarnett Founder, Toronto Sustainability Speaker Series (TSSS) Canada's premiere idea exchange for sustainability leadership A Journey in Search of Capitalism 2.0 ecoopportunity.net A Journey in Search of Capitalism 2.0 – This paper is the beginning of a journey in search of a better economic system – a system that creates wealth, opportunity, and satisfaction for the greatest number of people. Like (2) Comment (8) Share Unfollow Reply Privately4 days ago Comments Christopher Halburd, Heidi Darling like this 8 comments Fiona Savage Fiona Fiona Savage Turn ‘I Can’t’ into ‘I Can’ Assess, Re-calibrate, Measure for Success Thanks for sharing this paper Capitalism 2.0. will be following you on twitter Like Reply privately Flag as inappropriate 3 days ago Peter Burgess Peter Burgess Founder/CEO at TrueValueMetrics Thank you for alerting us to the release of this paper. There is a lot of good material in this paper, and links to a lot more. My passion is metrics. I argue that we need radical reform of the prevailing system of socio-economic metrics to end the dominance of money profits, capital market prices and GDP growth. We need metrics that are equally powerful for impact on people and planet as there are presently for profit. From my initial read, I see metrics are almost totally absent from this paper ... a brief reference to the problem of measuring the wrong things on page 21 ... but that is all I have been able to find. My position is simple. Without a change in the metrics, the initiatives to change the way the modern socio-economic system functions will get no traction and the dangerous dysfunction will continue. We absolutely have to start to measure what matters! Radical reform of the metrics is not particularly easy ... but there are ways. Peter Burgess - TrueValueMetrics Multi Dimension Impact Accounting Delete 2 days ago Heidi Darling Heidi Heidi Darling Founder at Songnote Thank you for sharing this. Would love to here your thoughts on the IVE movement.http://the-ive.org/ Like Reply privately Flag as inappropriate 2 days ago Peter Burgess Peter Burgess Founder/CEO at TrueValueMetrics Heidi ... I am delighted to see the IVE initiative. It will take me a while to get my head around the ideas, but they seem to be very compatible with my views about radical reform of the prevailing socio-economic metrics. Please stay tuned! Peter Burgess - TrueValueMetrics Multi Dimension Impact Accounting Delete 1 day ago Heidi Darling likes this Christina Kleinau Christina Christina Kleinau Research Associate at HHL - Leipzig Graduate School of Management Thanks for the heads up on the IVE Heidi! Really interesting!! Like (1) Reply privately Flag as inappropriate 23 hours ago Heidi Darling likes this Marco Monfils Marco Marco Monfils Independent marketing and business advisor Ive is very cool... will spend some time to check this out Heidi, thanks! Like (1) Reply privately Flag as inappropriate 20 hours ago Heidi Darling likes this Heidi Darling Heidi Heidi Darling Founder at Songnote Thank you! Like Reply privately Flag as inappropriate 44 minutes ago
Peter Burgess Peter Burgess Founder/CEO at TrueValueMetrics I am delighted to see the IVE initiative. It is further evidence that the issue of getting a handle of the cost and impact of externalities is being seriously addressed. Another example of an exchange launched in the impact investing space is the Impact Investing Exchange Asia based in Singapore ... http://www.asiaiix.com/ ... that has been recently launched under the leadership of Durreen Shahnaz. I think I learned as an economics student more than 50 years ago that an exchange or market only works efficiently when there is relevant information available to all the parties in the market. So while I like the fact that these exchanges are being created, I am of the view that they will not reach their full potential unless there are metrics that makes them work sensibly. As I understand the situation, the Intrinsic Value Exchange (IVE) is aiming to be a method for ascertaining the price or value including externalities ... but how does it do that unless there are metrics that provide information to determine a sensible price outcome. Unless there are the essential critical metrics, I see IVE developing into a platform for gambling without much connection with reality. This seems to have happened to some extent in the Carbon market exchanges ... and in another part of the global economy, with the valuation of BitCoins. It may also be argued that the mainstream exchanges are also getting manipulated by various ploys in the rules about how profits are reported! The Impact Investing Exchange (IIX) has more of a focus on being the needed link between investors and impact initiatives. Again, without a way to account for and report on the plans and performance of these impact initiatives it will not be able to work very well. These observations reflect my own bias and passion for metrics. As an old corporate CFO I see metrics as the solution to all problems ... which is probably not completely valid. I am convinced, however, that unless we do have some radical reform of the prevailing business money profit metrics and socio-economic metrics more broadly, there will be a lot of talk and not much meaningful progress, This post should not be construed as criticism of these exchanges ... they are an important part of the needed infrastructure for a better working socio-economic system, but I am advocating for the required metrics to make them operate effectively. Peter Burgess - TrueValueMetrics Multi Dimension Impact Accounting