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By Peter Barnes

From the cofounder of operating resources comes a visionary plan to improve capitalism.

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Additional resources for Capitalism 3.0: A Guide to Reclaiming the Commons (BK Currents)

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The Magna Carta, which King John of England was forced to sign in 1215, established forests and fisheries as res communes. Given that forests were sources of game, firewood, building materials, medicinal herbs, and grazing for livestock, this was no small shift. In the seventeenth century, John Locke sought to balance the commons and private property. Like others of his era, he saw that private property doesn’t exist in a vacuum; it exists in relationship to a commons, vis-à-vis which there are takings and leavings.

4). A noneconomist might conclude that, if happiness is our goal, we’ve wasted trillions of dollars. Why isn’t economic growth making us happier? There are many possibilities, and they’re additive rather than exclusive. One is that, once material needs are met, happiness is based on comparative rather than absolute conditions. If your neighbors have bigger houses than you do, the fact that yours is smaller diminishes your happiness, even though your house by itself meets your needs. In the same way, more income wouldn’t make you happier if other people got even more.

0 SURPLUS CAPITALISM Scale Local Global Supply and demand Demand exceeds supply Supply exceeds demand Externalities Low High Advertising Minimal Ubiquitous Credit Scarce Abundant Marginal value of more stuff High Low Scarcities Aggregated capital Waste sinks, time, habitat, income, companionship, community A Short History of Capitalism | 25 have to recognize that times have changed. The world is awash with capital, most of it devoted to speculation. By contrast, healthy ecosystems are increasingly scarce.

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