Reimagining Capitalism : In a world on fire’ (interview with professor and author rebecca henderson)
Rebecca Henderson (@RebeccaReCap) is an economist, researcher, Harvard professor, and the author of Reimagining Capitalism in a World on Fire.
In this podcast episode, Rebecca sheds light on the role of purpose-driven businesses in our world today; what'll it take for us to keep the creative freedom, opportunities, and ability to realize our potentials that many people believe capitalism enables, while not ending up with a cut-throat society that fails to have a basic human decency in ensuring people and our environments are not exploited for monetary profit; and more.
To start, get a glimpse below into the conversation between Rebecca and Green Dreamer Podcast's host, Kamea Chayne.
Musical feature: Trust The Sun by Mission to Earth by NYADO
“Real free-market capitalism is where everyone is playing on a level playing field with rules that make sure pollution is properly controlled and that corporations can’t lobby to change the rules for their own benefit.”
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This is a conversation on Green Dreamer with Kamea Chayne, a podcast and multimedia journal illuminating our paths towards ecological balance, intersectional sustainability, and true abundance and wellness for all. This preview has been edited for clarity. Subscribe to Green Dreamer Podcast on Apple Podcasts, Spotify, Stitcher, or any podcast app to stay informed and updated on our latest episodes.
On why we don't have true free-market capitalism today:
"Real free-market capitalism is where everyone is playing on a level playing field with rules that make sure pollution is properly controlled or properly priced, that everyone gets a chance to play, and that corporations can't lobby to change the rules for their own benefit.
There are people who are standing up and saying that the system we have is great.
It's not—any system that is systematically poisoning the earth and is leaving hundreds of millions of people behind is not the best possible system. So I think capitalism could be great and should be great, but we need to strengthen the guardrails to make sure that it operates in the way it was originally intended."
On the limitations of money's influence on happiness:
"I'm pretty sure that beyond a certain minimum threshold, money doesn't make you any happier. [Happiness comes from] engagement with the world, feeling like you're making a difference, getting out there and meeting people where they are. That is the source of love, joy, and connection.
Of course, if you don't have enough to eat or a safe place to stay, you need a decent income. I'm not saying money isn't important. But I think beyond a certain point, it's really not necessary."'
On the consequences of continuing with ‘business as usual’:
"It's pretty clear that if we keep doing business as usual, things are not going to go terribly well: You can see massive social unrest; you can see an acceleration in climate change's effect.
[The wildfires] we saw in California and Australia are not the new normal—it's just the next step on the road to where we're going…
Where we're going, unless we change, is a really bad place. This is not good for business. If you want a prosperous and healthy economy, help out, get in line, make a difference."
Final words of wisdom:
“Part of us hopes we can fix things all at once and that it won't take effort or difficulty, but that's what it takes to change the world, and it's a profound source of joy and energy to actually get down in the weeds of driving change and making it happen.
It's never beautiful; it's never perfect. But life is what it is—it's simultaneously amazing and difficult.
If you can dance in the middle of that, for me, that's where the joy is.”
