Social media empowers consumers to change the way companies do business.
By Simon Mainwaring
No doubt many readers of Talkback agree that free market capitalism has fallen into disrepute, proving to be ineffective in creating a prosperous society for everyone. Today, Wall Street banks, wealthy investors, corporate CEOs and boards continue to pursue profits at the expense of the overall society. Jobs are being outsourced to cheaper labor countries, worker salaries are falling and the middle class is slowly disappearing. Meanwhile calls for values-based practices, ethical conduct and concern for the greater good fall on deaf ears.
In response, many thought leaders and social visionaries have proposed new versions of capitalism – co-op capitalism, conscious capitalism, ethical capitalism, philanthrocapitalism and creative capitalism to name just a few. But these efforts are yet to have the impact we need to build a better world.
That is about to change.