“Conventional capitalism is dying with yesterday’s industrial era model of growth in permanent decline. Increasingly, the advantage will cede to companies that practice a more enlightened form of business, paying more than just lip-service to environmental and social agendas. According to the Irish Times, that’s the central premise of Umair Haque’s thesis in his book which offers a blueprint for a better form of capitalism.
Capitalism, he says, is founded on the equation of creative destruction. The cornerstones of capitalism as we know it systematically and chronically undercount the costs of destruction and over-count the benefits of creation. The result is an oversupply of “bads” with too much economic destruction for too little creation. The sum of over-destruction and under-creation is the deep debt a society incurs. Umair Haque is clarifying the goal of the 21st Century brand, which is to create what he calls “thick value”—value that matters, value that lasts and value that multiples, not the “thin value” of the 20th Century firm that is artificial and unsustainable, often gained through harm to or at the expense of people, communities or society. It is about making a positive difference in people’s lives, not merely having a differentiated product and brand. The New Capitalist Manifesto by Umair Haque is also available at Amazon.