Valueism,is a concept developed by Paul Barnett, a co-founder of BE Advisory. It represents a human-centred evolution of capitalism, the next evolution of capitalism. It argues that the purpose of any business should be the creation of value, measured in terms of contribution to prosperity. By prosperity we mean shared human flourishing and well-being.
Aristotle (384–322 BC) used the term Eudaimonia to describe human flourishing and well-being. And the concept of the Social Contract describes the implicit contract between Business and society under which businesses are granted a license to create profits in return for their contribution to society.
The current form of capitalism, focused on profit maximisation and driven by rent seeking, has broken the social contract. Extreme and rising inequality mean fewer people are flourishing. The well-being of many is not increasing, and for large numbers of people it is even decreasing. Valueism will reverse this situation.