A few months ago, we saw an interesting article from a leader "on the inside" who believes that we need to improve our economic system. Meet asset manager Jeremy Grantham, whose key insight cuts straight to the heart.
Though we may endeavor to ignore it in favor of today's short term profits, he says, our grandchildren (or those of our friends and neighbors, if we won't have any of our own) will inevitably bear the costs of the 'externalities' and damages to 'the commons' that our markets simply do not account for today - things like pollution, soil degradation, and resource depletion. As Grantham puts it, "our grandchildren really do have no value" in the economic system we currently use. It is they who will live out the "Tragedy of the Commons."
A company that is gaining Telosity - what we believe represents the business of the future - will focus itself on serving the needs of others, and not just of its owners (in the form of its shareholders). So how do you imagine it will attend to future generations as Grantham insists we must? Whether you have grandchildren or not, a penny for your thoughts...?