Bruno Roche Delivers Inspiring ZAOJIU Talk in China
Selected highlights of Bruno’s presentation have been transcribed below.
‘It is my argument that the economic model will have to shift. It’s not an ideology, it’s just natural law. The only question is how the economic model will shift. Will it shift through catastrophic events and social unrest, or will it change through new knowledge? It is my argument that we are at a time when new knowledge is needed in economics.’
‘Today, many companies have more power and influence than nation states. This is a new phenomenon which puts additional pressure on business. There has also been an explosion of the middle class and a shift to the digital economy, which is far less financial capital intensive than the previous service economy in which we used to operate over the last 50 years.’
‘So, is there a future to capitalism? My answer is yes, but not in its current form. A series of profound changes will have to take place in order to ensure that capitalism will continue to be a source of growth, a source of wellbeing. Today, it is my argument that capitalism based on profit maximisation has not only become obsolete and outdated, but is becoming sub-optimum and even destructive.’
‘It is also my argument that this change, this reset, will not happen from the top, but will happen from the bottom at the level of business units, which actually control more power than nation states.’
Photos and video: ZAOJIU