New Economic Values
Selfishness is capitalism's grand delusion. Economy should be governed by the same values as human relationships. A powerful plea for a "third path".
Capitalism fulfils none of its essential promises. Individual freedom and personal happiness, as stipulated by Hayek and Friedman, recede for most of us ever further into the distance. The core values of capitalism – growth, compatibility, profit –are inconsistent with the fundamental values of democracy: freedom, human rights and justice.
What, then, are the values we seek? In his new book, Christian Felber advocates a holistic "third path", arguing that the values that apply to human relations should also apply to the world of economy. Laws and institutions regulating social life must promote these new values, rewarding self-determination, solidarity and ecological sustainability instead of selfishness, competition and materialism. Successful human relations must be the primary objective of all economic action and the main criterion for performance and achievement.
Capitalism's grand delusion has been to expect maximum public benefit from the selfish behaviour of individual protagonists. Christian Felber shows convincingly how we can, instead, align economic and personal values and establish a new basis for "creating value".