
Modern Capitalism Must Prioritize Our Minds and Brains
By prioritizing minds and brains, governments, civil society, and companies will be better equipped with the health and skills needed to face unprecedented global challenges.
We applaud this holistic model and believe it can do a better job prioritizing our brains—our most precious asset. Our brains are key to how we understand, navigate, and interact with our world, a world which is ever accelerating.3 We must be nimble, adaptable, and resilient to be successful in this modern world. Accelerating technological change requires agility and other
To synthesize these brain-based necessities, we recently proposed a new asset—brain capital, which prioritizes brain health and brain skills in the modern economy.5 Brain health challenges occur across the lifespan and include autism, depression, anxiety, and Alzheimer disease. They cost the global economy trillions per year,
Threats to Brain Health
Science can help us understand how our behaviors and environments shape our brains. These insights can potentially guide policy and investing. Air pollution has been shown to
Investing in Brain Capital
We note a number of stakeholder capitalism-based initiatives that are prioritizing our brains. To provide a few examples, the Sustainability Accounting Standards board recently included mental health and wellbeing in its
Initiatives which aim to support entrepreneur mental health may
Concluding Thoughts
We suggest a thorough approach when considering where and how to prioritize our minds and brains in the modern economy—brain-based stakeholder capitalism (see
Placing brain capital at the heart of economic development provides the opportunity to advance stakeholder capitalism. By prioritizing minds and brains, governments, civil society, companies, and the international community will be better equipped with health and skills needed to face unprecedented global challenges. Further, these stakeholders will be able to better develop the resilience and adaptability needed to navigate our modern world—enabling both people and the planet to thrive.
Erin Smith is a director with the PRODEO Institute and Thiel Fellow at Stanford University. Dr Hynes is a senior advisor to the Secretary General of the Organisation for Economic Co-operation and Development (OECD) and head of the New Approaches to Economic Challenges (NAEC) Unit. Dr Eyre is co-lead of the OECD Neuroscience-inspired Policy Initiative and holds adjunct roles with IMPACT at Deakin University, Baylor College of Medicine, the Global Brain Health Institute and BrainLat.
References
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6. Eyre HA, Sinha A, Smith E, et al. The brain economy. RSA. February 4, 2021. Accessed July 16, 2021.
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12. Boyle PA, Wang T, Yu L, et al. Purpose in life may delay adverse health outcomes in old age. Am J Geriatr Psychiatry. 2021;S1064-7481(21)00322-5.
13. Sustainability Accounting Standards Board. Human capital. December 2020. Accessed July 16, 2021.
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15. Business Roundtable. Statement on the purpose of a corporation. August 19, 2019. Accessed July 16, 2021.
16. Reynolds F. COVID-19 accelerates ESG trends, global investors confirm. Principles for Responsible Investment. September 3, 2020. Accessed July 16, 2021.
17. Baker S. Global ESG-data driven assets hit $40.5 trillion. Pensions & Investments. July 2, 2020. Accessed July 16, 2021.
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19. Van Beusekom M. Study: 80% of hospital COVID-19 patients have neurologic complications. Center for Infectious Disease Research and Policy. May 12, 2021. Accessed July 16, 2021.
20. Freeman MA, Johnson SL, Staudenmaier PJ, et al. Are entrepeneurs “touched with fire”? Updated April 17, 2015. Accessed July 16, 2021.
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24. Eyre HA, Ayadi R, Ellsworth W, et al. Building brain capital. Neuroview. 2021;109(9):1430-1432.
25. Hunt V, Nuttall R, Yamada Y. From principle to practice: making stakeholder capitalism work. McKinsey & Company. April 26, 2021. Accessed July 16, 2021.
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