Globalization from the Bottom Up: A Blueprint for Modern Capitalism

The net pro?t of Exxonfor the year2005was reportedto be almost $8 billion which re?ectedabout40percentgrowthinits pro?tpicturewithina year. Aspro?tpictures of fuel, arms, medical services and ?nancial services industries among others reach unbelievable levels, by de?nition, most consumers get poorer because they have less money left for other essentials for their lives such as food, education, medical needs, and housing. Adding insult to injury, of the 100 largest budgets in the world, 52 belong to private corporations. Needless to say, such accumulation of economic power and such mind-boggling pro?t pictures do not encourage any movement on the part of these powerhouse companies to reach out and do something about the troubled world within which they have amassed such economic and indeed in- rectly political power. This is a questionable view of the world; I have to get more power before others do it and I get it at the expense of others. This is what this author coins the GREED FACTOR. As has been said, power corrupts and absolute power corrupts absolutely. The greed factor unfortunately is at the threshold of - solute power that corrupts absolutely. Unchecked and unguided continuity of this orientation is bound to bring disaster to this very fragile planet called the earth. We must establish a point of view that if the world we live in does better, there will be more for everyone. In other words, everyonewill be better off economically.

There is no doubt that the wheels of globalization are inexorably turning. Pundits on both sides of the fence argue that its forces are either creating greater opportunity for every citizen of the planet or driving a deeper wedge between the haves and the have-nots. In Globalization from the Bottom Up, Josh Samli argues that concentration of wealth is not sustainable; the world-wide financial and economic crisis that began in 2008 is a clear example of the impact of excess. This accumulation of wealth―and the political influence that it bestows―is what Samli calls the "greed factor"; left unchecked and unguided, it could spell economic, environmental, and cultural disaster. While acknowledging that power will continue to be concentrated at the top level of the pyramid, Samli offers an alternative model, a philosophy and practice of "social capitalism" that is grounded in a bottom-up approach to wealth creation. Drawing from examples around the world, Samli argues that wherever the entrepreneurial spirit is tapped, financial, social, and political change will inevitably take place, as other actors in the system recognize opportunities to reap the benefits (for example, through the creation of more consumers and collection of more taxes). Institutions and infrastructure designed to create more entrepreneurs may well be the key to emerging from the current crisis and setting the stage for a more diverse, inclusive global economy. Making the direct links among entrepreneurship, economic development, environmental protection, and political freedom, and offering practical recommendations for enlarging the pie, rather than slicing it into smaller pieces, Samli presents a provocative, and ultimately hopeful, view of a more inclusive, wealthier, and sustainable future.