Summary of Reimagining Capitalism in a World on Fire

Reimagining Capitalism in a World on Fire is an expansive look at critically how entrenched forms of “neoliberal” capitalism are wreaking ecological havoc and entrenching inequalities. The authors argue that capitalism and democracies will only survive together if we reimagine a more robust, more equitable form of the economic system. They argue that the current version of capitalism—which puts shareholders and corporate profits first, at the expense of workers, the environment, and collective well-being—is no longer sustainable. The authors envision an economy that puts people first, evaluating success based on social and environmental, rather than purely financial outcomes. They propose several innovative economic tools to measure and reward the wellbeing of communities alongside the focus on economic productivity and returns to investors. Among them: public banks, which can finance public goods; mission-oriented startups focused on fighting inequality and ecological destruction; and a Wellbeing Economy requiring the government, business, civil society, and individuals to incorporate values and ethics into decision-making, while setting and enforcing regulatory frameworks. While the authors don't presume to know a single roadmap, they do present a compelling argument for concerted action to transform our economy in order to both serve citizens and protect the ecosystems upon which all life depends. This book is an important read for anyone interested in a reexamination of our current, broken economic structure and offers thoughtful strategies to make our societies more just and equitable.