Capitalism, socialism, systemic thinking and creating a society we want to live in

Have you noticed in the last 5–15 years, that prominent folks are talking about the intersections of things a lot more? And how some “non-business” practices are increasingly regarded as indispensable to the executive and the company’s success? Business is successfully being done in a different way from the operations-focused 1980s management style still used today in many companies. Both large and start-up company CEOs are talking about mindfulness (e.g. William C Ford Jr, Mark Benioff of SalesForce.com, Oprah, Katy Perry). Others have created policies to support their communities and staff members e.g. flex time or adoption support or paying employees for an afternoon volunteering for a cause (corporate volunteering, as part of employee engagement). Some are even offering a guaranteed minimum income to increase retention, reduce hiring and training costs, and further the development of their community, e.g. Gravity Payments

Dan Price is the founder/CEO of Gravity Payments, a credit card processing company for small and medium sized businesses (SMB). He created waves in 2015, when he raised the minimum salary at his company to $70,000, and reduced his own compensation from >$1M to $70,000. Critics said he would go bankrupt, but instead, over the next 7 years, he doubled the number of employees, tripled his business, and his employees bought homes, paid off student loans, had children, and the extra wealth in the community has supported other small businesses.

In a time where increasing attention is being directed toward economic inequality and massive pay disparities (compensation for top executives soared an inflation-adjusted 1,300 percent in the past 40 years), Dan Price has become a prominent voice for socially responsible companies and management. 

[Read on at this friends’ link] 

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