Future of Capitalism

The moral foundation of capitalism should be reconsidered. Modern capitalism is disembedded from the social and cultural norms of society and produced a deep financial, ecological and social crisis. Competitiveness is the prevailing ideology of today’s business and economic policy. Companies, regions, and national economies seek to improve their productivity and gain competitive advantage. But these efforts often produce negative effects on various stakeholders at home and abroad. Competitiveness involves self-interest and aggressivity and produces monetary results at the expense of nature, society and future generations The collaborative enterprise framework promotes a view in which economic agents care about others and themselves and aim to create values for all the participants in their business ecosystems. Their criterion of success is mutually satisfying relationships with the stakeholders. New results of positive psychology and the Homo reciprocans model of behavioral sciences support this approach. The economic teachings of world religions challenge the way capitalism is functioning, and their corresponding perspectives are worthy of consideration. They represent life-serving modes of economizing which can assure the livelihood of human communities and the sustainability of natural ecosystems. Ethics and the future of capitalism are strongly connected. If we want to sustain capitalism for a long time we have to create a less violent, more caring form of it.

Changing attitudes to the future in Hungary

In the mid-1990s a theoretical definition of future orientation was elaborated by Hungarian futurists Nova´ ky, Hideg and Kappe´ ter to conduct empirical research on the capacity of human foresight under given historical conditions. Future orientation is a way human thinking is manifested, where thoughts are filled with preconceptions, imagination and expectations. Our research has shown that the following component parts characterise future orientation: thinking about the future, applying regular social techniques to limit its uncertainty, actions taken in the interest of the future, and expectations concerning the future. Based on these component parts the future orientation of Hungarian society was studied empirically in 1995 and in 2006. Comparative analysis of the findings of the two surveys is presented below.

Interpretation of time and future in strategy research

Time is in constant motion: the present, the future and the past, although they are not concepts having a fixed meaning, they are present in everyday life both at the conscious and the unconscious levels. The author’s intention in this paper is to grasp the relationship of companies to time and to the future in the mature and nascent states of their life cycles. As discussed in this paper, this relationship may appear with little reflection in the form of assumptions in the eyes of strategy researchers and practitioners. At first the interrelatedness of theory and practice is discussed in order to focus on the role of scholars and practitioners in creating theory and putting it to practice or vice versa. This general introduction will lay the ground for the study of interpretations of the future and time from the perspective of strategy research and strategy practice, respectively.