Our Programme
"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."
Bill Gates, reviewing Capitalism Without Capital: The Rise of the Intangible Economy
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.
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.
