Capital (the storage of wealth) and the increasing affluence of a few amongst a scarce earth has run its course, is now on a self-destructive path and must rise to new challenges.
The new capital must provide:
- variety and choice
- financial participation and stability
- investment in enrichment vs high-volume consumption
- new markets based on the reality of resource limits
Economist Kenneth Boulding, a co-founder of The General Systems Theory, observed:
“Economics and evolution are both examples of a larger process which indeed can be described as a process in the growth of knowledge. What the economist calls “capital” is nothing more than human knowledge imposed on the material world. Knowledge and the growth of knowledge, therefore, is the essential key to economic development. Investment, financial systems and economic organizations and institutions are in a sense only the machinery by which a knowledge process is created and expressed.”