This episode is a repost from The Working On Purpose Podcast

Capitalism comes in for criticism, despite the fact that this economic system has resulted in substantially increasing global per capita income over the centuries, spurring economic growth and progress. 

Critics often criticize a kind of Aberrant Capitalism, one that is dominated in their minds by corporations, whose behavior is not always meritorious. 

But from the earliest times, it was Customer Capitalism, not corporate capitalism, that was the driver of individual prosperity and thriving. Companies such as Wedgwood & Bentley of Wedgwood China fame (founded 1759) set the original precedents by prioritizing customer needs and innovation, laying the foundation for contemporary business practices. The advent of these corporations facilitated large-scale entrepreneurship, promoting innovation and efficient responses to customer demands.

Entropy has set into the capitalist system since the founding days, and there is some corporate behavior that needs reform. Dr. Alise Cortez is attentive to these concerns. We discussed the prospects for a revival of customer capitalism

Resources: 

Connect with Hunter Hastings on LinkedIn

Connect with Dr. Alise Cortez on LinkedIn

The Value Creators Website

Hunter Hasting’s Blog

 Dr. Alise Cortez's websites:  Gusto-Now.com and AliseCortez.com

Show Notes:
0:00 | Intro
3:25 | Capitalism: Bad Rap and the Purpose 
08:07 | Standard Oil's Impact on Civilization
09:52 | World War: Capitalism in the Next Era
14:20 | The Post-War Capitalism: Command and Control
19:50 | Period of Financialization 
21:05 | Maximising Shareholder Value 
22:14 | Government as the Customer 
25:35 | The Promise of Customer Capitalism 
28:30 | Current Landscape of Customer Capitalism 
33:03 | Management Practices of Forward-Thinking Companies: Extremely Flat Organization
35:33 | Cross-Functional Teams 
37:45 | Short-Term Problem Solving vs. Long-Term Planning 
39:50 | Long-Term Stock Exchanges: Role and Contribution
40:30 | AI and Middle Management
42:24 | Principles Over Rules 
43:40 | Customer-Centric Business Models 
45:13 | Idea of Subjective Value and Empathy
48:37 | Wrap - Up