Something incredible is happening within our economy. Beyond the failures of state socialism and the excesses of corporate capitalism, a realistic alternative is emerging. In How on Earth, Donnie Maclurcan and Jennifer Hinton chart the rise of businesses that place purpose ahead of profit, and outline how the advantages these businesses hold in the marketplace pave the way to an entirely different economic system, focused on addressing human need, not greed.
At the heart of this monumental transition lies the changing nature of not-for-profit (NFP) organizations. Contrary to popular notions of non-profit inefficiency, unaccountability, and dependence on donors, the 21st century NFP is proving highly efficient, transparent, and increasingly self-funded.
Distinguishing themselves from B corps and ethical/green shareholder companies by always reinvesting rather than privatizing profits, NFP enterprises around the world are proliferating and succeeding in areas as diverse as construction, manufacturing, software development, food catering, and retail. In a process described by Jeremy Rifkin as ‘the eclipse of capitalism’, many NFP enterprises (including various forms of cooperatives, community interest companies, government-owned corporations, and social businesses) are now outperforming their for-profit counterparts, driven by marked advantages in terms of finance, human resources, productivity, innovation, governance, environmental outcomes, value creation and market reputation. Simultaneously, NFP enterprises are increasingly curbing the excesses that have traditionally been associated with the charitable sector.
Moving beyond the market/state dichotomy, the NFP model finally aligns our economy with the social values that modern science and ancient wisdom agree are central to our shared prosperity. With wealth recirculating through a purpose-driven system, the emerging NFP world economy is better able to serve people and planet, while retaining market dynamics and requiring less taxation and government bureaucracy in the process.
A groundbreaking contribution to economic theory, How on Earth presents the world’s first practical blueprint for the transition to a fairer, thriving economy that offers quality of life for all while respecting our ecological limits.