INSEAD Library

Includes bibliographical references and index

Digitized

Capitalism as if the World Matters Contents Foreword by Amory B. Lovins Acknowledgements Introduction xv xvii xix PART I -- OUR UNSUSTAINABLE WORLD 1 Conflicting Imperatives Introduction The assault on nature Economic prosperity Our changing climate Breakdown: breakthrough or collapse? A glimpse into a sustainable future 3 3 3 9 12 22 29 2 Sustainable Development for Real Introduction Disentangling the definitions Framing sustainable development Culture wars in the US The challenge to environmentalism 33 33 33 38 43 49 3 Re-engaging with Economic Growth Introduction The limits to growth Raising the happiness stakes The end of cheap oil The peak oil/climate change interface 54 54 54 60 72 75 4 Unsustainable Capitalism? Introduction Capitalism and sustainability Scale Wants and needs Competition 86 86 86 98 99 102 Inequality Inherent unsustainability? 104 107 5 Through the Global Looking Glass Introduction Democracy and globalization Confronting the Washington Consensus Confronting the multinationals Confronting population growth Taking stock 111 111 111 114 118 125 132 PART II - A FRAMEWORK FOR SUSTAINABLE CAPITALISM 6 The Five Capitals Framework Introduction Grappling with the concept of capital The challenge of China 137 137 137 142 7 Natural Capital Introduction Defining natural capital Natural added value Valuing natural capital 148 148 148 149 155 8 Human Capital Introduction Defining human capital Valuing human capital 163 163 163 170 9 Social Capital Introduction Defining social capital Building social capital 174 174 174 177 10 Manufactured Capital Introduction Defining manufactured capital Renewable energy Aligning natural and manufactured capital 183 183 183 186 191 11 Financial Capital Introduction 197 197 Defining financial capital Governance failures The business case Bringing financial capital down to Earth 197 199 202 206 PART III -- BETTER LIVES IN A BETTER WORLD 12 Confronting Denial Introduction The capacity for denial Nature denied Justice denied Closer to home Security denied Science denied Are environmentalists in denial too? 213 213 213 215 220 227 229 237 242 13 Changing the Metrics Introduction Gross Domestic Product Index of Sustainable Economic Welfare And what about wellbeing? Price signals and tax reform The metrics of climate change 248 248 248 251 252 255 259 14 Business Excellence Introduction Reviewing the business case The seductive illusion of CSR Extending the licence to operate Engaging with the base of the pyramid Towards a more balanced scorecard 264 264 264 270 275 281 287 15 Civil Society Introduction Consumers and citizens Sustainable consumption Addressing the governance gap 293 293 293 298 304 16 Visions and Values Introduction Defining the universal dream 309 309 309 Sustainability values Confronting the sceptics Raising our spirits 314 319 322 17 Converging Imperatives Introduction Programmed for sustainability? Education for sustainable development Making sustainable development desirable The high price of materialism The politics of interdependence Index 327 327 327 332 335 339 343 349