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Jay Coen Gilbert’s modern capitalism keynote discusses the ways in which today’s market and infrastructures can be altered to simultaneously benefit shareholders as well as members of society. He quickly introduces the concept of B Corporations, which help other large corporations set standards and implement practices that benefit the environment and society, without negatively affecting their profits.
Today’s markets still operate based on the 20th century capitalism, which exclusively focuses on generating revenue for shareholders. In order for this to change, corporate law must evolve. The problems with today’s outdated system can be summarized into three things including unsopportive corporate law, a lack of standards and a lack of a modern capital market. Businesses, brands and corporations today can evolve in a way that benefits both their revenue as well as society once standards and regulations are set across the board, making it the norm for businesses to act in a way that benefits society and its communities.