1. Normative Economics:

Updating economic theory to reflect the reality of the current economy and its drivers of value.

2. Normative accounting:

Updating the practice of accounting, based on deductive logic or reasoning.

3. Normative governance:

Creating an enhanced framework for decision-makers used in combination with normative accounting:

  • To manage and measure reputation as a risk and the social license as an intangible asset.
  • That creates accountability for fiduciary, employment and other duties of decision-makers for decisions taken in the best interests of shareholders and all stakeholders.

4. Taxonomy:

Establishing the first standard taxonomy of intangible assets and how these can be managed as both assets and liabilities.

5. Further system change:

Innovating in related practices, such as reporting and auditing, standards, data and measurement at government and business level, and creating policy actions based on the impact of 1 to 4 above.

6. Roadmap:

Identifying the first applications of normative accounting that will begin a process of metamorphosis of the current system.

Our roadmap focuses on how economics, accounting and governance can be transformed through a small number of interventions to achieve the optimum outcome of creating a prosperous, just and equitable society.

Rethinking Capital's Normative Economics programme model

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