On this site we discuss the 14 points raised by Phil Kotler. Every two weeks we pick one and engage in lively debate here and on our Facebook page.
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The current state of capitalism is falling short because it:
- Proposes little or no solution to persistent poverty
- Generates a growing level of income inequality
- Fails to pay a living wage to billions of workers
- Not enough human jobs in the face of growing automation
- Doesn’t charge businesses with the full social costs of their activities
- Exploits the environment and natural resources in the absence of regulation
- Creates business cycles and economic instability
- Emphasizes individualism and self-interest at the expense of community and the commons
- Encourages high consumer debt and leads to a growing financially-driven rather than producer-driven economy
- Lets politicians and business interests collaborate to subvert the economic interests of the majority of citizens
- Favors short-run profit planning over long-run investment planning
- Should have regulations regarding product quality, safety, truth in advertising, and anti-competitive behavior
- Tends to focus narrowly on GDP growth
- Needs to bring social values and happiness into the market equation.
We will add to the list as our discussion develops. To propose additions or modifications, leave a reply below or send us an email.