Book presentation by Jan Peter Balkenende and Govert Buijs to Roberta Metsola

The book is written by the Dutch former Prime Minister, Minister of State and emeritus professor of Erasmus University Rotterdam Jan Peter Balkenende together with professor Govert Buijs of Vrije Universiteit Amsterdam. It is the outcome of a broad consultation with international economists, a think tank of young economists, research agencies of political parties, entrepreneurs and social organizations.

Capitalism has gone astray. Today we face ecological exhaustion, persistent inequality, financialization, stress on communities, short-termism, and new power concentrations.

An avalanche of new economic thinking and a reorientation of European values show the way toward a different economy. A new perspective is necessary if we want to implement the Sustainable Development Goals and if we consider our planet as ‘Our Common Home,’ for present and future generations.

In Capitalism Reconnected Balkenende and Buijs bring together the most important insights of this new thinking. Moreover, they place the renewal of the economy in the broader context of societal, geopolitical and geo-economic developments. The book starts with a 'Diagnosis' section, followed by sections on Europe's 'Mission', and a 'Geopolitics' section. It concludes with recommendations.

This book argues that European economies should be the initiators of a global transition toward a sustainable and inclusive world economy. Together, amid severe geopolitical and geoeconomic challenges, they need to develop their own perspective on what a good economy really is, in distinction to Chinese state capitalism and American big business capitalism.

Crucially, this requires the rediscovery and development of key European values, such as human dignity, regenerative/circular thinking, inclusivity and co-creativity. Europe can present a coherent view on responsible capitalism, and play a role as a global player for the Common Good in today’s and tomorrow’s world: an economy of hope that is sustainable for future generations.

Photo by Daina Le Lardic.