Reimagining Capitalism in a World on Fire

The Burning World: Why Capitalism Needs a New Vision

Imagine a world where the very systems that have propelled human progress are now threatening the future of life on Earth. We live in such a world today. Our planet is on fire—literally and metaphorically. Forests that once stood for centuries are dying, oceans are acidifying, and the air is thick with pollution. The burning of fossil fuels, the backbone of modern industry, is not only destabilizing our climate but also silently claiming thousands of lives through pollution-related diseases. Every kilowatt-hour of coal-fired electricity costs society more than twice what consumers pay, once health and climate damages are accounted for. Yet, the market prices fail to reflect these hidden costs, creating a dangerous illusion of cheap energy.

At the same time, the wealth gap between the richest and the poorest has widened to unprecedented levels. The 50 richest individuals now hold more wealth than the poorer half of humanity combined. This concentration of wealth threatens social cohesion and undermines the promise of equal opportunity. Meanwhile, the institutions designed to balance economic power and protect democratic governance are weakening, leaving markets less free and less fair.

This confluence of crises—environmental, social, and institutional—is not a failure of capitalism per se, but a sign that the system as currently practiced is broken. The dominant ideology that firms exist solely to maximize shareholder value has led to short-termism and externalization of costs, pushing us toward ecological and social collapse.

Yet, within this crisis lies an opportunity. The time has come to reimagine capitalism—not to discard it, but to transform it into a system that delivers prosperity, freedom, and sustainability for all. This journey begins with understanding the deep problems we face and recognizing that change is not only necessary but possible.

As we move forward, we will explore how businesses can align profit with purpose, how organizations can empower people, how finance can be rewired to support long-term value, how cooperation can solve collective problems, and how institutions must be rebuilt. Each step offers a beacon of hope in a world on fire.

Let us begin by examining how this reimagining takes shape in practice, through stories of companies turning challenges into opportunities.