Doing Good Better
Choices and Paradigms in the Social Ecosystem

Section 4: New Capitalism

Chapter 4: Capitalism is dead, long live capitalism!

Despite its success in fostering economic growth, modern capitalism has a bad name for the many ills it has spawned. The good news is that capitalism is being reformed, not least through the influence of the social sector. This section describes the evolution and the many forces behind this new capitalism: from regulatory attempts to tame the corporate beast to new forms of corporate social responsibility (CSR) and the sustainability movement.

Chapter 4A: Taming the corporate beast
Corporations are, by nature, pathologically selfish. Taming the corporate beast requires either more regulations or their complete reconstitution – unless we can find a third way.

Chapter 4B: The resurgence of ethics in corporations
Corporations should go beyond not doing wrong, to focus on doing right and stake a higher ground in corporate morality.

Chapter 4C: CSR 2.0
The sustainability movement is pushing corporations to elevate their sense of social responsibility and to proactively address their material environmental, social and governance factors.

Chapter 4D: Towards a new capitalism
After much push, a new and more compassionate form of capitalism, focused on stakeholders and values, is emerging and manifesting through improved corporate behaviours and better ways of doing business.

Chapter 4E: Reconstructing company law
The last major amendment to the Companies Act in Singapore was a missed opportunity to effect two much needed structural changes: the types of directors on a board and improvements to the model of modern capitalism.