Caux Round Table for Moral Capitalism
We make the case for Moral Capitalism.
Here is the August edition of Pegasus.
In this issue, we review two new publications that not only offer hope but also evidence of how universally accepted the need for a sustainable form of capitalism has become. We also include a comment about the Business Roundtable’s Statement on the Purpose of a Corporation.
We would be most interested in your thoughts and feedback.
Please mark your calendars! The Caux Round Table for Moral Capitalism’s 2019 Global Dialogue has been scheduled for Thursday, November 21st through Saturday, November 23rd in Minneapolis, Minnesota.
Of special note, Paul Polman, Chairman of the International Chamber of Commerce and former CEO of Unilever, will be joining us for lunch on November 22nd. We’re working on a number of other distinguished guests, as well.
An official invitation, along with registration information, will be available shortly.
I do hope you can join us!
Here is the July edition of Pegasus.
In this issue, we include reports on the valuation round tables in Sydney and Amsterdam and an article on rebalancing capitalism.
I would be most interested in your thoughts and feedback.
Here is the June edition of Pegasus.
In this issue, we include a report on the 2019 annual convention of the Fondazione Centesimus Annus Pro Pontifice and an article on short-termism and financialization.
I would be most interested in your thoughts and feedback.
Here is the May edition of Pegasus.
This issue is on financialism.
I would be most interested in your thoughts and feedback.
Here is the April edition of Pegasus.
Included in this issue is an article on love, truthfulness and investment by our German colleague, Andreas Suchanek.
I would be most interested in your thoughts and feedback.
The March edition of Pegasus is now available.
The issue discusses, among other things, how our Principles for Business came into being and the business leaders behind that effort.
This year marks the 25th anniversary of the founding of the Principles.
We would be most interested in your thoughts and feedback
Amazon’s emergence as a leading book publisher, as well as bookseller, is viewed as a threat to traditional publishing. At the same time, it presents an unprecedented opportunity, not just for budding writers of romance and mystery novels. It also offers non-profit organizations like the Caux Round Table for Moral Capitalism (CRT) a chance not only to publish books affordably but to promote ideas and reports to millions of Amazon customers.
Amazon is now the biggest seller of books in the world, bringing enormous pressure on traditional brick-and-mortar bookstores that face the challenge of finding ways to increase margins in order to survive. Some haven’t. And those that have are doing so by offering a host of products and services that go beyond book sales.
More recently, the online giant has mushroomed into the role of one of the leading book publishers. Since 2009, when it started publishing print, audio and e-books that can be read online or downloaded, Amazon’s list of publications has risen from 373 to more than 1200; each is produced by one of the company’s 15 imprints and promoted through Amazon apps like Kindle and First Read with monthly notification to a number of potential buyers that the traditional industry can only dream of – ten million customers in all.
Book publishing has traditionally been a low margin, high-risk enterprise in which publishing houses have accepted only a fraction of the manuscripts they receive from authors and agents. Despite this, many accepted books still fail to find an appreciable audience and publishing houses must often rely upon one or two best sellers each year to stay afloat.
But with Amazon, the margins are low and the cost of producing a book minimal when compared to traditional print costs with a high percentage – some 80 percent — of books in categories like romance self-published, meaning the company does not pay the author. The author finances the publishing of his or her manuscript.
This online revolution has created a backlash of criticism among traditional publishing houses. At the same time, Amazon’s low publishing cost, widespread promotion and ease of reader access has provided us the chance to reach a wider audience through self-publishing. Where once the only outlet for such organizations might be an academic press with limited runs and little money for promotion, now organizations like ours can potentially reach a much larger market with little cost. What’s more, once an e-book is published, it stays on Amazon’s list of books indefinitely, giving much greater weight to the ideas and opinions the organization wishes to promulgate.
And we are set to take advantage of this opening. At the moment, we have three e-books in the works, with more on the way.
“Amazon’s entry into publishing repeats the process of creative evolution improving humanity’s well-being which started with the first years of the industrial revolution and the birth of capitalism: enterprise takes a risk to introduce a new technology pioneered by science to change the ways in which we can live,” says Steve Young, Global Executive Director of the CRT.
“But as some Buddhists say, every gain comes with a loss,” he continues. “Those tied to old technologies lose out; their business models are no longer viable; their customers move on to new products and services.”
“For our non-profit enterprise, we see Amazon as an avenue to produce and distribute books at a cost we can afford,” Young says. “We have decided to join in the process of disruption to get good ideas and inspiration to more people all over the world.”
Here is the February edition of Pegasus.
You can read the table of contents by going to the Pegasus page.
We’d be most interested in your thoughts and feedback
This post is a request for your help and support.
As I look around our world with its achievements in improving living standards but its growing inequalities, antagonisms and rising mistrust of elites and others, I am reminded of David Livingstone’s last words:
“ALL I CAN ADD IN MY SOLITUDE, IS, MAY HEAVEN’S RICH BLESSING COME DOWN ON EVERY ONE, AMERICAN, ENGLISH, OR TURK, WHO WILL HELP TO HEAL THIS OPEN SORE OF THE WORLD”
Each of us has opportunities daily to help in healing; each of us can lead; each of us can make a difference.
I am grateful to all in our Caux Round Table for Moral Capitalism network for their contributions and their leaderships. We strive to contribute to the cause of healing and improving with ideas and recommendations – big picture and small bore – to put in the public domain for all to take up, improve upon and use in their many vocations.
During 2019, we plan to:
Your donations to our travel and organizational expenses are needed. Small donations can be particularly helpful:
You can donate here and a contribution form can be found here.
Anything you can give would be most appreciated.