Six Capitals

Six Capitals

Or, Can Accountants Save the Planet? : Rethinking Capitalism for the Twenty-first Century

Book - 2015
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This is the story of a twenty-first-century revolution being led by the most unlikely of rebels: accountants. Only the second revolution in accounting since double-entry bookkeeping began, it is of seismic proportions, driven by the 2008 financial crash and our ongoing environmental crisis. The changes it will wreak are profound and far-reaching and not only will transform the way the world does business but also will alter the nature of capitalism.While the wealth of nations and corporations has been vital to the global economy, increasingly the world is coming to realize that such endless growth is limited by the earth's resources and comes at a huge price to the planet and to human well-being. It simply cannot be sustained.This revolution demands that we go beyond merely accounting for traditional financial and industrial capital and take account of the benefits and detriments to the natural world and society. It urges us to include four new categories of wealth: intellectual (such as intellectual property), human (skills, productivity, and health), social and relationship (shared norms and values), and natural (environment). Making them part of our financial statements and GDP figures may be the only way to address the many calamities we face.Just two years ago this revolution seemed idealistic and unlikely. Today it is quickly unfolding. In 2012, the sea-change year, two key initiatives took root: an international movement to transform how corporate accounting is calculated and the rise of incorporating the effects on the environment to the accounting of national and global economies. Six Capitals tells the story of this coming new age in capitalism, evaluating its promise and the disaster that lies ahead if it is not implemented.
Publisher: New York : W.W. Norton & Company, 2015
Edition: First American edition
ISBN: 9780393246674
Characteristics: xxvii, 342 pages ; 22 cm


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Nov 01, 2016

One always loves these nonsense books about using capitalism to save capitalism - - it's just because // The People \\ don't realize what's transpiring, or some such drivel!
I can turn on CNN or some other pseudo-news show and listen to talking twits talking about economics and finance, subjects they have absolutely no knowledge about.
For instance, the GDP went up in America this October 2016, not because - - according to the CNN twits - - the economy grew, but for the opposite reason, the shrinking or or lack of consumption - - less imports due to this equates to shrinking trade deficits which pumps up the GDP!
Just as when the government falsely tells us that the unemployment is down, when what they've done is move large numbers of the unemployed over to the non-participation in the labor force category, thus pumping up the number of employed people percentage wise!
Then there's their decrepit dialogue about innovation, which disappears with the ever-increasing number of offshored jobs, and replacement of American workers with foreign visa scab workers - - less opportunity equates to shrinking innovation.
This book is chiefly aimed at those clueless types who still religiously believe that the [mostly Koch brothers-financed] NPR is // liberal \\ or that they can believe the [Koch brothers financed] PBS or Frontline.
While such types will fervently believe the carbon tax will miraculously save the planet, a little research shows it has zero effect other than further enriching the .01%.


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