The 2008/09 recession has affected people in every sector, age group, and background, making this recession as crippling as the ‘Great Depression. The figures being reported in the US are grim with more unemployment yet to come and many people in their 50’s not being able to ever find work again. Some may see this as complete doom, however we see it as the shake-up we all needed to analyse value, fairness, and what capitalism actually really means.
Capitalism has always had a scourge-esque connotation, you can imagine a greedy oligarch sitting on a opulent chair greening his teeth at all his wealth, whilst the rest of us sit at his feet. However, this was never the intention of capitalism, it was originally set-up to offer economic freedom to all. As it is stated by definition capitalism is ‘when investments are made by private actors in the market rather than by a central government’ . ‘Government’ essentially can mean the government itself of the monolithic companies that for the past 70 years have acted in a totalitarian and governing manner. Why would we want this way of capitalism to continue?
We believe that capitalism is the social responsibility of providing services and products to peers for the creation of economy. This isn’t greed or avarice, simply the process of creating an independent flow of economy that can be of benefit to everyone.
How To Create True Capitalism? Being an entrepreneur does not mean that you have to make millions or take damaging risks. You can be an entrepreneur that creates a business which generates an immediate salary. True capitalism as about independence, so one more person that is creating their own economy is one more person contributing to other businesses and creating economic flow. The money has not gone away, it’s just stagnated and we need to create sustainable enterprises, which will begin to spend again and provide the platform for other businesses.
Coworking spaces are a great breeding ground for true capitalism, you see the members at THECUBE London, exchanging services, generating connections, all whilst maintaining their economic independence. The entrepreneurs in the space may not be the next Bill Gates, however they are contributing to each other’s economy and taking positive steps into creating sustainable and strong businesses.We view coworking spaces as microcosms of a new economic structure, the businesses are acting fairly, setting great value, and providing a new moral code for business exchange.
This isn’t utopia, but we have seen a shift from business being about cold ambition and avarice to collaboration and independence. We have a long way to go, but taking small, tangible and lean steps towards enterprise will begin to generate new streams of money, create independence, fairness, and true capitalism.