‘Sustainable Development’ The Mandate for the Future

Capitalism is better than critics try to make it. Capitalism has the ability to change, keeping long-term profits in mind, but declaring money (making money) and purpose (keeping purpose high on the agenda) as twins.

Additionally, investors are forcing companies to think in sustainability. If company managements do not follow, investors will boycott the shares of those organizations.

Given the quarterly focus on record earnings being expected by investors, the question whether this is sufficient ‘reason-to-be’ is only fair. Companies additionally have to realize the Home-Office-Work-Life-Balance-Generation of the Millennials who are exactly raising the issue of ‘purpose’ of a company.

Because of the fact that the issue of ‘maximizing profits’ versus ‘fair profit and focus on purpose’ is raised regularly now, more and more companies are taking ‘sustainable development’ more seriously. One large multinational company is talking about ‘inclusive capitalism’.

In this context, I like to encourage everybody to read Yuval Noah Harari’s book ’21 Lessons for the 21st Century. 21 provocative chapters cover a range of issues, such as:

• Big Data – you are being watched whether you like it or not

• Communities – humans have bodies, in other words we need tech-touch coupled with human-touch

• Education – change is the only constant; life-long learning is a must

• Equality – those who own the data own the future, which requires us to watch Google, Facebook, Twitter and many others with great concern

• Humility – while we are not the center of the world, we can show social support in our communities

• Ignorance – we know less than we think; spending hours every day on smart phones and computers does not change that

• Immigration – some cultures may be better than others; one of the questions remains: are all immigrants willing to integrate into new communities and accept their values?

• Justice – our sense of justice might be out of date…

• Nationalism – global challenges need global solutions; and remember: if you don’t want to be part of the solution, you are part of the problem

• Post-Truth – some fake news last for ever

• Work – will you still have a job when you grow up?

While we try to get the message across that ‘sustainable development’ should be the battle cry of the future, Hatari is certainly right with his warning that corporations and entrepreneurs who lead the technological revolution and sing the praises of their creations, will have to be aware that philosophers and historians will continuously sound the alarm and explain all the ways things could go wrong.