Connected Capitalism – The Future of Jobs

If you do not help a man with his troubles, it is equivalent to bringing troubles to him.

• Rabbi Nachman of Breslov

The term “caring capitalism” was created by Ben & Jerry’s ice cream in the 1990s to describe their corporate position of upholding a social conscience in business decisions. Twenty years later, several businesses have finally realized this idea. According to the Atlanta Business Chronicle, Neville Isdell, the former chairman and CEO of Coca-Cola, and the son of social activists and a trained social worker who once worked against apartheid in South Africa, is advocating for businesses to adhere to the principles of “connected capitalism.” This is the point at which firms link their social responsibility to their financial success. Additionally, Isdell has drawn a number of well-known CEOs to his cause. Today the term ‘Connected Capitalism’ has gained popularity across the globe.

Extreme Capitalism has failed to create jobs across the globe. During covid, over 122 million people in India lost their jobs in April 2020, according to estimates from Centre for Monitoring Indian Economy. Total number of jobs lost from 2019 to 2025 in India is said to be 260 million. Eurostat estimates that 12.824 million persons in the EU, of whom 10.655 million in the euro area, were unemployed in January 2025. Europe is facing massive job cuts and the economy is on the verge of a collapse. The Department of Labor in the United States of America, issued seasonally adjusted statistics on Thursday that showed a total of 242,000 unemployment claims. This represents a 22,000 increase over the previous week’s total and a number that was far higher than the 220,000 claims predicted by economists. Youth unemployment in China jumps to 17.1% in July 2024 and is expected to get worse by July 2025.

Businesses and nations are still feeling the effects of the global economic crisis that rocked the world at the end of the first decade of the twenty-first century. We cannot remain mute and let others to choose the direction of business in the twenty-first century when the destiny of this planet is on the line. Global business leaders are urged by this article to speak out about their companies’ contributions to the debate about the new form of capitalism, to rethink their companies to account for the rapidly shifting economic landscape, and to establish connections between their companies and the communities in which they operate on the fronts of sustainability, values, and regulations. If we fail to create jobs, we are moving towards anarchy.

In the complicated world of finance, connected capitalism is a straightforward concept. A business needs to be able to make money. However, to be a force for good in the world, it must also use the power of its brand and real money for social causes such as environment, job creation, green technology, and sustainability. Many corporate leaders are being forced to reconsider capitalism due to increased government regulation, unstable economic conditions, and a growing focus on sustainability.

In a world where Connected Capitalism is practiced, the purpose of the corporation is not just to maximize shareholder value, but also to serve society. The profit maximizers must stop thinking that the society servers are unrealistic; the society servers must stop thinking that the profit maximizers are unsympathetic. Both sides must collaborate to create a better future.

Neville Isdell, the former CEO of The Coca-Cola Company, fervently defended connected capitalism, which does not see “maximizing profits” and “doing good” as distinct concepts. Rather, it maintains that companies must act morally to safeguard long-term commercial interests, increase shareholder wealth, and compete successfully in international marketplaces.

The future lies in securing empowerment by creating jobs, sharing profits, ensuring sustainability, and redefining globalisation. Religion, gender, orientation, ethnicity, and race must take a back seat. Even if a country is free to declare itself as a religious state, development and sustainability must be the topmost agenda.

Thanks to pixabay.com for these lovely royalty free images!