Giving Compass' Take:

• Jay Coen Gilbert at B the Change writes his take on the concept of a capitalist reformation by reimagining the purpose of business and redefining what it means to be successful. 

• How can philanthropy create a new model of capitalism, and what would that look like? 

• Here's an article on young adults wanting to redesign and reshape our capitalistic culture. 

Larry Fink challenges. Tucker Carlson rants. David Brooks moralizes. Others wonder Can American Capitalism Survive? They all correctly diagnose the problem — a broken economic system that is not meeting the needs of the vast majority of people and that has embedded incentives that make it designed to fail in the more perilous times ahead — but they all fail to see clearly how long we’ve had this problem, what is its root cause, and what is required for its solution.

Capitalism did not go off the rails in the last 40 years. It may have metastasized into a financialized cancer, but capitalism’s cancer gene has been there since the beginning. Unconstrained, growth-at-any-cost, profit-over-purpose capitalism has destroyed the lives of millions upon millions of people for hundreds of years. They just weren’t people we typically cared enough about to behave differently or to question the system, as long as it was working for us. By “we” and “us,” I mean those who created and have benefited most from the capitalist system. But we are coming to a day of reckoning. If we do not properly diagnose the root cause of our potentially fatal illness, we will fail to develop or — worse — fail to use a promising cure.

Read the full article about reforming capitalism by Jay Coen Gilbert at B the Change.