Documents Home » Considered Proposal » Principled Capitalism

Search Documents

Social Share

Archives

Principled Capitalism

October 3, 2018
Uploaded by Tony Clack - Category: Considered Proposal - Tags: #capitalism  #merit  #organisational merit  #incentives  0 1,642 0
This paper puts forward a new approach called Principled Capitalism. We believe Principled Capitalism, when applied to organisations, can address many of the current issues in society and at the same time set in place an enhanced system that is designed to benefit all, not just the few, on an on-going basis.

 

Essentially the objective of Principled Capitalism is to change our society over time to be based on merit and reward merit, whether organisational merit or personal merit, at every turn. The objective is also to be relevant to the long-term and future generations, not just the short-term. In particular to take account of the speed of technological change and in particular the high potential but likely disruption of some of the advances such as Artificial Intelligence.


The 7 principles of Principled Capitalism applied to Organisations and Government are:

• Responsibility to provide a Net benefit to Society commensurate with the rights and benefits they receive.
• Commensurate Taxation. Tax paid in the UK by an organisation should, by law, be commensurate with the business done in the UK, whether over the internet or directly.
• Visibility of Contribution. The contribution organisations make to society should be visible to us in a factual regulated form on the web, to allow us to make judgements.
• Responsibility for Consequential impacts. Organisations must take responsibility for negative, as well as positive, consequences of their products and services. This includes generating the funds to pay for the consequences of AI Disruption.
A Manifesto for Society in the Artificial Intelligence Future – Version 6.2 Page 8 of 12
• Moral Decision-Making. Organisations need to be incentivised to make moral decisions and to be accountable for them, not just to rely on the letter of regulations or of the law.
• Financial and Wellbeing Security for individuals. Anyone working with a good work ethic, in a full working week, should have enough income for a good home and good life free from major worry.
• A fair and considerate society. The country should demonstrably be run by Government for the good of all. Everyone should tangibly benefit financially from UK success.