The ability of man to modify the natural environment, transform raw materials into goods and services using technology, and the successive revolutions, especially the Industrial Revolution, has led human civilization to strengthen economic growth at the expense of social equity and environmental stewardship. This paper argues that up until the advent of neoclassical economics, societies of the anthroposphere did not degrade the environment with the same intensity has they have since. The upside of the capitalistic consumerist culture is that, though it created such environmental degradation and social injustice, it developed revolutionary communication technologies that allow for greater transparency thus increasing consumer awareness and lateralizing power. Part of a paradigm shift, a new business model is emerging. One that considers the human capital, the social capital, the natural capital in addition to the financial and economic capital typically accounted for. In this new model, natural capital is converted into manufactured capital by human capital that utilizes financial, economic, and manufactured capital to promote the development of social capital. This new model is globally driven by collaborative consumption, social equity, and environmental stewardship at a business level, governmental level, and the level of civil society.
|School:||The American University of Paris (France)|
|Department:||Cross-Cultural and Sustainable Business Management|
|Source:||MAI 56/02M(E), Masters Abstracts International|
|Keywords:||Collaborative consumption, Environmental stewardship, Green economy, Natural capital, Social equity|
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