Economic Power of Individuals in Redesigning Capitalism

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Let’s talk about the ’08 crisis.

Some of us have studied it deeply and others have heard about it.

However, we all share one thing; we all felt the effects of it.

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Source : Bloomberg. Note that the top 10% not only recovered faster post 2008, but also owns more wealth than the bottom 50%.
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I’d imagine that if everyone around me were buying houses on cheap credit — it’d look stupid for me to not jump on the wave. I’d be, at the very least, tempted to get cheap mortgages as well. This impulse, I would propose, is not solely my responsibility. We are innately struggling with with self-control and naturally look to other people for signals on how to behave. It’s built into our biology.

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We need to redesign our capitalistic system — by consuming and investing in such a way where businesses are forced to think beyond the bottom line ($).

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Written by

Cheeky Psychology and Philosophy graduate who spends too much time on ethical capitalism. Auditor by profession, buddhist in spirit, child at heart.

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