People-ized ownership patterns: The key to a smarter capitalism

With the end of the Cold War, private property free enterprise has emerged as the dominant economic model, its hallmark the rapid spread of capital ma rkets worldwide. Institutionalized capital is fast becoming the dominant me ans by which that capital is held. This detached form of capitalism has com bined with concentrated personal ownership to create a form of free enterpr ise that is often insensitive to the concerns of people and communities who se Lives its operations affect. The result is to endanger sustainability ac ross five overlapping domains: fiscal, constitutional, civil, social and en vironmental. Today's dumbed-down capitalism requires a policy environment c apable of fostering ownership patterns that include a component of people-i zed, localized and human-sized ownership. Copyright (C) 1999 John Wiley & S ons, Ltd.