Multicapitalism
Contextual Quotation
" A multicapital approach looks at all capitals (financial AND natural, social, human, built, etc) NOT with an eye toward maximizing them (as hypercapitalism does with financial capital), but rather dynamically balancing them amongst each other, and importantly, maintaining the health of their cycles (through regeneration of flows from originating stocks) within the carrying capacities of these resources."
— Bill Baue [1]
Description
Mark McElroy:
"It is demonstrably the case that ecocide is mainly attributable to the effects of business and commerce in the world. Any attempt to resolve it, therefore, must be conceived accordingly.
Most businesses, however, do not measure, manage or report their performance in these terms, nor are they required to. In the aggregate, therefore, their effects result in the problems we have before us. Modern commerce is unsustainable.
The problem, however, is not capitalism, it's monocapitalism: capitalism designed to maintain (and grow) only one form of vital capital, economic capital, very often at the expense of all others. The solution is multicapitalism: capitalism designed to maintain all vital capitals, not just one of them: natural, human, social, constructed and economic at required levels.
If we manage organizational performance in these terms, it should be possible to avoid ecocide; if not, ecocide seems inevitable. We need to shift from monocapitalism to multicapitalism." (Great Transition mailing list, debate on ecocide, August 2016)