Capitalism 3.0: A Guide to Reclaiming the Commons (Bk Currents)

By admin • Jul 8th, 2008 • Category: Business

Capitalism 3.0: A Guide to Reclaiming the Commons (Bk Currents)

Capitalism 3.0: A Guide to Reclaiming the Commons (Bk Currents)
By Peter Barnes

Publisher: Berrett-Koehler Publishers
Number Of Pages: 195
Publication Date: 2006-11-01
ISBN-10 / ASIN: 1576753611
ISBN-13 / EAN: 9781576753613
Binding: Hardcover

In Capitalism 3.0, Peter Barnes redefines the debate about the costs and benefits of the operating system known as the free market. Despite clunky features, early versions of capitalism were somewhat successful. The current model, however, is packed with proprietary features that benefit a lucky few while threatening to crash the system for everyone else. Far from being “free,” the market is accessible only to huge corporations that reap the benefits while passing the costs on to the consumer. Barnes maps out a better way. Drawn from his own career as a highly successful entrepreneur, the author’s vision of capitalism includes alternatives to the current profit-driven corporate approach, new legal entities, and a more responsible use of markets and property rights. Capitalism 3.0 offers viable solutions to some of the country’s most pressing economic, environmental, and social concerns.

Summary: Good ideas, poorly written
Rating: 3

There are some great ideas in this book and it is highly educational. However it seems like it could have really used a solid editor. First off, the running metaphor of capitalism and operating systems is just plain dumb, maybe it’s because I am a software guy, but I just find it distracting. It lowers the authors cred.

Another gripe is that the book doesn’t linearly develop an argument. It moves from high level ‘wouldn’t it be great ifs’ to details and then back and forth repeatedly.

Sigh…

Summary: Putting a vital ingredient to sustainability squarely on the map
Rating: 4

This book is an eye opener. the author does an excellent job at highlighting how the inherent limitations of both capitalist business and democratic multi-party governments in their current forms urgently need to be complemented by trusts that are constituted to have a long term mandate to protect ecological and community health as seed capital.

I agree that there are many complementary aspects such as ecological economics but feel that this book helps create a broader understanding of why trusts play such a vital role in moving beyond the dangers of centralized government and centralized big business.

A reviewer who claims that this book proposes any form of socialism seems to miss the point. Trusts are partially needed to prevent governments from taking short term populist decisions or over simplifying the quest for sustainability. Exactly because the author does not want to compromise the roles of business and government the author suggests trusts as a complementary force. If he was not a successful and convinced supporter of the free market he would reach different conclusions.

Summary: Finally someone thinks money isn’t everything
Rating: 5

I am enthusiascially asking you to take the leap and read this book. It is so refreshing to read words from someone who has made it “big”, who also understands that that isn’t all there is to being alive and well in America. The author clearly states that running a company that makes money is desirable and that that isn’t the end of it. There are other considerations and other ways to impact the world than simply raking in the dough. I have long thought there was an ugly face to capitalism and it seemed to me I was the only one who saw it that way. It is comforting and reassuring to know I am not alone. Give it a try, okay? It won’t hurt much and it helps to know there is a different way to see it all.

Summary: Socialism 2.0
Rating: 1

Socialism 2.0 That is what this should be called. Basically this guy wants to tax businesses and give that money to liberal social causes. Well guess what you know that the corporations are just going to pass the cost on to the consumer to protect profit margins. And this as always will hurt the middle class, making them poorer and poorer until there are so many poor individuals that we will all rise up in revolution and over through the evil capitalist regime and create his envisioned socialist utopia.

Summary: The Beginnings of a Conceptual Framework for a New Economic System
Rating: 5

I have just read Capitalism 3.0 by Peter Barnes and am very impressed. Peter is a Georgist of the US variety although that fact is not immediately apparent as the book is written in a very light, non-ideological, non academic style. It is an extremely accessible and well written case for ‘the propertisation’ of the commons – emphatically NOT ‘privatisation’. It does not discuss land value taxes/rents directly but places them indirectly within the context of all commons and proposes a solution to ‘the tragedy’ of all commons that, followed through, would nevertheless deliver LVT and something like a citizens income.

Peter sees a need for a counterbalance to corporate power linked to private property, but not by State ownership and hence not by any measure that smacks of Socialism. Instead he puts forward the idea of many kinds of Trusts holding many kinds of commons property- from the GHG emisison rights to scientific knowledge to community land. Apart from the very essential job of supporting Commons Trusts and assigning property rights and legal protections to them, governments would thereafter stand aside. Governments would especially distance themselves from disbursing the receipts/rents/ licence fees collected for the use of the various commons as their susceptibility to corporate influence, according to Peter Barnes, is systemic and cannot be overcome. It is a very American approach – rather than intervening directly to regulate the power of an damaging but essential force, a countervailing force is introduced to dynamically re balance the system. A global Trust would be required to protect the atmosphere but this would not be given political power per se – but it would have significant economic power to balance the existing private sector influence of the WTO.

This solution would satisfy libertarian, free market thinkers as it would not enhance the role of the State any more than that which it currently plays. Indeed many regulations would become unnecessary as social, cultural and environmental welfare would be intrinsically factored into ordinary business decisions.

Of course all of this fits conceptually very nicely into the work Feasta has been doing for a Cap and (equal per capita) Share of green house gas emission rights. See www.capandshare.org for an update. What I think the idea really needs is another book entitled ‘Socialism 3.0′ that says more or less the same thing but from a European perspective. Together they could bookend a conceptual framework for an Earth and human friendly new economic system.

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