Michael H. McCain: We need a new charter for capitalism, and here's what it should include


Yes, capitalism is at stake, and you want to think about changing things

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Capitalism as we know it, requires a change in our thinking.

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A recent survey of 34,000 people from 28 major countries found that 56 percent of those surveyed believe that capitalism does more harm than good. I believe that the capitalism in which we were born, which began long before the industrial revolution, has produced amazing results for the people. However, we now know that this has come with serious, unforgivable consequences related to the very foundations of our lives. Sales are huge.

Our house, the earth, is on fire and our natural forces are deteriorating. Globalization has brought all development, but especially to the bottom line. There has been a steady increase in serious inequalities and social ills. We have experienced endless human conflicts. And there has been a decline in trust in all our institutions.

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My generation has failed the “future test” because of our short-term preferences. This will not solve itself. The enormity of the challenges we face requires rethinking: A change of mindset to create a new “Charter for Capitalism”.

Based on experience and learning from failure, I offer six topics to consider.

The new Charter of Capitalism should:

1. Recognize many people equally , rejecting the majority of shareholders, in combining nature, natural life and human beings as stakeholders.

2. It should prevent having too little time , one of the curses of modern technology, to create real financial and incentive tools to achieve this.

3. Must approve state law creating competitive circles, not opportunities; to resist competition to the ground. Of course, all laws should be effective and efficient, provided by low-cost governments to prevent waste.

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4. It should also explain human rights to include all, public safety protections. Inequality is a violation of human rights, and these human rights must include the right to a secure home, the right to a stable income, the right to sustainable food, the right to health care, the right to education, the right to education, equal rights and opportunities. and the right to a healthy environment.

5. It should embrace giving a large portion of the price about the human rights of these people and dignitaries who have a way, rejecting the idea that if only the transfer of wealth.

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6. And lastly, it should ensure that all business relationships are in the New Chart, including the assurance of growing governance and sustainability, locally, regionally and globally, as well as local support such as the World Trade Organization, following the opportunity to block roads.

I do not believe that this is denying everything we know about the capitalist movement and its progress. I can’t say we should turn our backs. I believe the new document should be new, which would make the world feel that our next generation should leave the next but it did not … major social and environmental problems in our time, including climate problems and food shortages.

Leadership efforts cannot be limited to government, non-governmental organizations or civil society organizations. It can only succeed with the direct engagement of future-thinking business leaders.

Yes, capitalism is at stake, and you want to think about changing things. Change begins with a new vision for the future. Some may experience this hope with denial, criticism or fear. I think it gives hope for a stable and uniform way forward – and hope is always encouraging.

Michael H. McCain is the president and CEO of Maple Leaf Foods Inc.

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