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CHAPTER 10REDEFINING WEALTH AND PROGRESS: THE NEW INDICATORS

Companies and the marketplace are assuming new roles and responsibilities in all mature industrial countries. In Europe, the United States, and some other countries, they call it stakeholder capitalism or the social market; in Japan it is “Japanese capitalism”; while Scandinavian countries have their own distinctive brands of mixed-market economies. Markets are developing both social conscience and environmental awareness. As privatizations continue in the European Union, Eastern Europe, Russia, Latin America, Asia, and increasingly in Africa, we see many cultural ways, means, and faces of a new kind of hybrid capitalism. How can linear balance sheets and economists’ categories ...

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