One of the definitions of profit in the dictionary is: “the income or reward accruing to a successful entrepreneur and held to be the motivating factor of all economic activity in a capitalist economy.”

Notice the last part of the sentence “and held to be the motivating factor of all economic activity in a capitalist economy.”

I added the bold for emphasis….”held to be” says mindset – it is a belief we’ve come to collectively hold about profit. And that belief is that profit is THE motivating factor of ALL acitivity…

No wonder we struggle as entrepreneurs, even employees and consumers as a part of this system. In what ways do you struggle with this? In what ways do you resonate with this definition of profit? What else comes up for you around this topic?

Rabbi Lapin in his book: Thou Shall Prosper shares this from the oral tradition of the Torah: (p.141)

God expressing this refrain to humanity: “I have created…you with almost limitless yearnings and desires, but I have placed you in a world with apparently limited resources. It may seem that there is not enough for everyone. However, if you follow my rules of ongoing and constant cooperation, there will be more than enough for everyone”

That sounds very similar to the good purposes of business I shared last month

1. to serve
   -provide goods and services for the community to flourish
   -provide meaningful and creative work for people (you and others)

2. to do no harm
   -create relationships that are sustainable and restorative

3. to generate profit to continue your contribution to
    the (local/global) community through the above

The oral tradition goes on to say: “Should you decide to try it on your own, you will condemn yourself to a constant struggle for survival. “ Is this you? Struggling? Exhausted? Trying to survive? Or just stuck in mediocrity and not thriving?

They key is cooperation, community, connectedness – all things that are natural for women. As the Jewish oral tradition emphasizes: “You are going to have to cooperate with one another, and you are going to have to understand that interpersonal economic interaction through Ethical Capitalism is good and pleases me [God].”

Capitalism is noted for several things: private ownership, moving property, money as a medium of exchange, value. All in and of themselves good things. It is people and their character (or lack thereof) which has created the distortion of the system and the resulting cultural mindsets.

It will be you and me and every other business owner to reshape our individual and collective thinking. And as Dave Ramsey says…BE the recovery….of the economy.

Rabbie Daniel Lapin suggests a new mindset of Ethical Capitalism: a system of interlocking obligations rather than rights. In a free, transparent, and honest marketplace, you cannot make money without first benefitting other people. It is based on trust.

Sir Richard Branson suggests a new mindset of Gaia Capitalism: all processes work in concert to maintain an environment conducive to life as everything is a single integrated organism. Combined with capitalism he is basically saying that private entities (a person, an entrepreneur, a corporation, etc.) are first concerned about the good of the whole while operating in the free market and generating profits and returns on investments.

Jeff Van Duzer suggests Shalom Capitalism: he doesn’t say this directly as the other two do in their books. It’s my conclusion based on the principles he shares and in some ways combines the previous two definitions. The word Shalom is Hebrew and means to be safe, sound, well, healthy, prosperous, complete within and without and has a component of vigor and vitality. And includes a sense of holistic restoration to oneness. Complete. Whole.

What would you suggest?

What type of capitalism will you propose and operate from?

Pick your word, your type of capitalism and share it with us on the blog …name and definition too!

If you really believed in this type of capitalism, what new action would you take?

By When?