Mission, Vision & History of the Common Good Capitalism Movement!
The mission of Common Good Capitalism Movement is to mature capitalism into common good capitalism. This is where, unilaterally, individuals and organizations freely choose to give priority to the common good and second priority to profit or mission. Secondly, while doing both fully, someday competitors in each large or small product market, like the teams in a sports league, will meet and reach voluntary agreements that give priority to the common good. At these meetings, a government official will always be present so he or she can confirm for the public the only conversations were for the purpose of reaching agreements for the common good, not collusion for their mutual self-interests. With the auditors serving as the referees, they will continue to compete as ferociously as before. This day will come. This movement provides many steps organizations can now take in that direction that are part of preparing the way for this voluntary maturation of capitalism into common good capitalism.
As mentioned above, and without waiting for governments to act, we dream of the day when all competitors in large and small product markets reach voluntary agreements that give priority to the common good as the container within which they will continue to compete as a secondary priority. They will proudly share their agreements with the public and their level of success at accomplishing them. Then both the public and governments will strongly support this responsible behavior in the private sector.
We also dream of the day when all for-profit organizations become Cap Club members by placing an appropriate cap on their annual return and invest any excess in Common Good Investment Banking Firms.
We also dream of the day when all organizations, for-profits and non-profits, commit 1-10% of their annual net profits as investments in Common Good Investment Banking Firms that primarily buy companies and convert them to Cap Club members.
We also dream of the day when, through a program such as Trusts for All Children, all organizations make significant annual donations to put a permanent end to extreme poverty on Earth from the bottom up by creating a trust fund for every child at birth.
In other words, we dream of the day when all private sector organizations reach agreements that go beyond the demands of governments and execute actions like the above ones where the highest priority is the common good.
In November of 2014 Terry Mollner spoke to Chetan Chawla's Social Business Class at the Isenberg School of Business at the University of Massachusetts in Amherst, MA. Since the 1970s he has been one of the pioneers of common good business and investing.
He noticed that there were a number of students who were clearly very excited about his suggestion that we are ready to graduate capitalism into common good capitalism. In response, at the end of his speech he pointed out the Bill McKibben was speaking to a class of students at Middlebury College about the need to take action to stop the accumulation of carbon in our atmosphere. Some of them joined with him to create the website 350.org to invite people around the world to take some kind of action to educate the public about the need to not have the parts per million of carbon in the air exceed 350 milligrams. It is today one of the most powerful environmental organizations.
Terry then said that if any of the students wanted to join with him to create a Common Good Capitalism Movement website to raise the awareness of the public of the need to graduate into common good capitalism, they should speak to him afterwards. A number of the students and the instructor, Chetan Chawla, came to Terry afterwards and said they would like to join with him to do it.
The team met once a week for weeks to design the website. What you are reading is the result.
The other members of the team that brought CGCM into being are Vince Kozica, Samantha Marino, Sonam Sherpa, and Ashleigh Syphers.