"The portion of the world's economy that doesn’t fit with the old model just keeps getting larger. That has major implications for everything from tax law to economic policy to which cities thrive and which cities fall behind, but in general, the rules that govern the economy haven't kept up. This is one of the biggest trends in the global economy that isn't getting enough attention."
Rethinking Capital has already started the process of adapting current rules, systems and norms with an initial focus on normative accounting applied to the net-zero transition.
Updating economic theory to reflect the reality of the current economy and its drivers of value.
Updating the practice of accounting, based on deductive logic or reasoning.
Creating an enhanced framework for decision-makers used in combination with normative accounting:
Establishing the first standard taxonomy of intangible assets and how these can be managed as both assets and liabilities.
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.