Originally posted : TED Talk Please allocate just 10 minutes to listen unmissable video Why we need to rethink capitalism


Paul Tudor Jones II loves capitalism. It’s a system that has done him very well over the last few decades. Nonetheless, the hedge fund manager and philanthropist is concerned that a laser focus on profits is, as he puts it, “threatening the very underpinnings of society.” In this thoughtful, passionate talk, he outlines his planned counter-offensive, which centers on the concept of “justness.”

…In all fairness, when I started writing this, I thought, “Oh wow, what does my company, what does Tudor do?” And I realized we give one percent of corporate profits to charity every year. And I’m supposed to be a philanthropist…

 …Now, capitalism has been responsible for every major innovation that’s made this world a more inspiring and wonderful place to live in. Capitalism has to be based on justice. It has to be, and now more than ever, with economic divisions growing wider every day. It’s estimated that 47 percent of American workers can be displaced in the next 20 years. I’m not against progress. I want the driverless car and the jet pack just like everyone else. But I’m pleading for recognition that with increased wealth and profits has to come greater corporate social responsibility…

 “If justice is removed,” said Adam Smith, the father of capitalism, “the great, the immense fabric of human society must in a moment crumble into atoms.”

 

Advertisements