Using his years of experience as a successful entrepreneur, Peter Barnes shows us how capitalism can be upgraded so that it protects rather than devours our planet. Required reading for everyone who looks further than the next quarter's results.
Robert F. Kennedy, Jr., Natural Resources Defense Council
Our current version of capitalism—the corporate, globalized version 2.0—is rapidly squandering our shared inheritances. Now, Peter Barnes offers a solution: protect the commons by giving it property rights and strong institutional managers.
Barnes shows how capitalism—like a computer—is run by an operating system. Our current operating system gives too much power to profit-maximizing corporations that devour our commons and distribute most of their profit to a sliver of the population. And government—which in theory should defend our commons—is all too often a tool of those very corporations.
Barnes proposes a revised operating system—Capitalism 3.0—that protects the commons while preserving the many strengths of capitalism as we know it. His major innovation is the commons trust—a market-based entity with the power to limit use of scarce commons, charge rent, and pay dividends to everyone.
Capitalism 3.0 offers a practical alternative to our current flawed economic system. It points the way to a future in which we can retain capitalism's virtues while mitigating its vices.