by Miriam Garvi
When I was writing my dissertation just a few years ago about the world of venture capital and the financing of entrepreneurial ventures, it was a challenge to find a terminology that would adequately convey the purpose of a particular enterprise beyond the doctrine of profit maximization.
Today, however, this has changed. Yesterday’s oxymorons have become politically correct, and terms like non-profit companies and for-profit philanthropy reflect the on-going upgrade of concepts ascribing a sense of common good to the narrowly-focused, profit-seeking objective that has dominated our view of companies and corporations for far too long. Hybrid terms such as the «for-benefit enterprise» are promoted as examples of how capitalistic interests will merge with the idealistic into a harmonious compromise as long as everyone stands to gain from the alliance.
But behind the plethora of upgraded labels, what is actually changing? Bill Gates proposed a win-win scenario for all through the Gates foundation. Does this mean that he has left his strong-arm tactics behind, or has he simply found a way of practicing technology dumping on future markets in a form that is socially acceptable to the global community?
Many will say that we should settle for an upgraded version of capitalism that will allow for the continued pursuit of wealth and growth, where the costs incurred in that process are affordable to our conscience. A system of compromise that we can live with, and yet remaining the major beneficiary of it all.
But what legacy is it to leave behind, if all we do is minimize the damage of our lifestyle having realized that it is not sustainable?
A compromising alliance between selfishness and philanthropy is not what will bring our world meaningful progress and prosperity. Nor is the enticing language that offers what it does not deliver a satisfactory answer. It is time to raise the stakes and start aiming for visionary initiatives, where unlike the hybrids, the purpose is crystal-clear: fulfilment that will truly benefit mankind.
