823 As companies across all sectors of the economy pay for energy-either directly or indirectly-the anticipated rise in energy costs will affect profit margins throughout the market. Moreover, the costs of manufacturing abroad are increasing, largely due to the rising costs of transportation and mineral extraction (compared to 2005 levels, the latter is expected to rise 35 percent by 2036 824 ). Surging consumer costs (particularly food prices, which, by 2036, are estimated to increase by 91 percent compared to 2005 levels 825 ) combined with reduced disposable income in the common economy is a recipe for disaster. People either go deeper into debt or forgo necessities like lighting and heating. Furthermore, with the outcome of the 2015 climate negotiations in Paris (COP21), carbon and other environmental taxes, fines, and trading schemes are set to rise. 826 This translates into even higher costs for companies, especially in resource-intensive fields. The problem transcends the increasing costs of extracting resources to fuel economic growth. We have reached limits in terms of the amount of damage we can wreak on the planet's ecosystems without our economy being negatively impacted by it. Given that our economy relies on a functioning biosphere, human impacts on the environment-including climate change, biodiversity loss, degraded land, and polluted water and air-put our economy (not to mention the existence of humans and all other species) in a perilous position. 827 These problems:

• threaten the amount of food we can grow and therein prices;

• wipe out material security, largely in the common economy, through natural disasters while also leaving some assets uninsurable; and • exacerbate illness 828 . These mounting environmental and socioeconomic problems aren't going unnoticed by the masses. Having grown up with the threat of ecological collapse, the Millennials have more ecologically conscious worldviews 829 and have been at the forefront of environmental activism, climate coalitions 830 , and the fossil fuel divestment movement 831 . On many fronts, they are more open to questioning the status quo. Indeed, Millennials are the x factor threatening to magnify the aforementioned trends driving the end of economic growth. The global youth were affected by the 2008 crisis and subsequent inequality more than the older generations. Many of them were just coming into adulthood and entering the workforce when the global economy cracked wide open, and they were met with record levels of job insecurity. In this light, many young people are choosing to challenge the system, as witnessed by the massive rally of youth support for US Senator Bernie Sanders, a self-declared "democratic socialist," in the run-up to the 2016 US presidential election. A Harvard University survey conducted in 2016 found most members of the American Millennial generation reject capitalism. 832 This sentiment is manifesting in their increasingly selective spending patterns 833 , how much they favor access over ownership 834 , and their "opting out" of elements of what was previously considered mainstream culture, including the stock market 835 . In response, there is greater support for distributed production and the local economy (as witnessed in Greece and Spain following the 2008 crash). Given the demographics of global population growth, most births in the coming decades will occur in the households most marginalized by the global economy, stretching the rubber band of inequality further as such families-and their respective governments-are forced to absorb debt even faster. We are not alone in thinking a massive economic crash is coming. 836 We envisage this crash being deeper and more widespread than any the world has ever experienced due to the sheer size of global debt and the interdependencies woven throughout the contemporary economy. Combined, these factors form a house of cards ready to collapse as soon as the first few players go down. The collapse will be swift. The lack of regulation in the global financial sector has enabled instruments such as derivatives and high-speed trading systems to create great reactivity and volatility in financial markets. Most worryingly, as of mid-2016, the total value of the unregulated derivative markets is US $492 trillion. 837 As avenues for high returns in productive sectors of the economy decrease, capital will continue to be steered to more speculative ends. The coming collapse will also be longer not only due to the depth of the crash but also because many of the conditions leading to the end of growth will continue to be exacerbated. At the moment, last-gasp tactics such as quantitative easing and the 2015 rise in the US federal interest rate for the first time in seven years are creating unwarranted confidence in an economy loaded with debt and risk. Many for-profit companies have involved themselves in speculative forms of debt based on the questionable assumption of future growth. Likewise, governments have undertaken stimulus measures without a clear sense of how they will manage their debt obligations in the long run. More realistically, negative interest rates 838 signal the capitalist system is reaching its absolute limits. The crash may begin with a large portion of corporate, household, and public debt coming due, triggering a huge wave of defaults and subsequent bankruptcies, as happened with housing debt in the US in 2007-2008. Indeed, speculative investment in housing is likely creating another global real estate bubble 839 , while the steering of investment toward the speculative financial markets is driving more asset bubbles 840 . The crisis could also begin with a national debt default, causing what is known as a "run on the banks" and leading banks and large financial institutions to collapse or be bailed out again because they cannot stay in business without their loans being repaid. In the next three sections, we present an entirely speculative account of a post-crash transition to an NFP system. We cover both the collapse of the for-profit story and the emergence of the not-for-profit story.
We have split the narrative into three sections outlining three waves of global experience we imagine might accompany the great transition beyond capitalism: the Big Crash, Big Rebalancing, and Big Shift. In our highly speculative account, we envision these waves rolling out over the period 2020 to 2050. No matter the specific cause, the crash begins devastatingly, at around 2020. Stock prices, primary export markets, and currencies collapse. Efforts to suspend trading and foreign exchange do little to halt the hemorrhaging. In an act of desperation, people in the elite economy shift what investments they can to gold, cash deposits, cryptocurrencies, low-yield government bonds, and offshore bank accounts. With the crash come widespread business bankruptcies. A number of multinational corporations fold due to collapsed demand for their goods and services or recalled loans that they can't service or renegotiate. It is discovered that many companies have been holding significant debt "off the books," unbeknownst to regulators, stockholders, and even some employees and company directors. In the meantime, people in the common economy suffer the most. Small businesses are also forced to close their doors due to diminished demand and rising costs. Hundreds of millions of people lose their jobs and ability to pay their debts. Many of these people are unable to continue paying the mortgages on their homes, forcing them to try to sell their homes to avoid bankruptcy. With hardly anyone trying to buy a home, however, housing prices have dropped to the point that what the homeowner can secure through a sale is lower than the amount owed on the outstanding mortgage, meaning people lose their homes to the banks through foreclosure. This housing market collapse is as bad if not worse than the one that occurred in 2008. Vehicles and other valuable items are commonly repossessed as well, and additional savings are decimated with the bankruptcy of pension and retirement funds. 841 Prices of goods and services skyrocket due to a massive drop in global production. 842 Shortages of water, electricity, gas, fuel, and food create social devastation. Levels of famine rise along with suicide rates. Families are living in even more cramped conditions, sleeping in cars and on the streets, squatting 843 , or swelling the world's slums. As extreme poverty surges, airborne and waterborne diseases spread. When natural disasters hit, the toll is even more horrific than usual. There is an immediate rise in crime-especially assault, robbery, and looting-and the black market as well as exploitative lenders feed on the scarcity. While shock, despair, and survival instincts prevail, long-held rage also bursts through. Rioting, threats to wealthy landowners, and the forceful takeover of estates cause owners to flee their properties. Civil and international disputes turn into military escalations. Given the extent of the collapse, it is no surprise many are claiming Armageddon has arrived. Governments immediately declare a state of emergency, calling on the military to assist in matters such as the rationing of food. Some leaders even temporarily declare martial law, leaving populations susceptible to fascist leadership and state brutality. While the tax base has shrunk dramatically and publicly funded services are cut, governments rush through unopposed legislation to bail out and temporarily nationalize the "too big to fail" banks and other large companies deemed crucial to the economy. Extending methods from the 2008 crash, for-profit banks facing insolvency take depositors' money as their own 844 in a legal phenomenon known as "bail-ins" 845 . Governments follow suit, nationalizing retirement savings. 846 Corporate mergers occur with limited oversight, and many for-profit insurance companies rapidly mutualize. Fear-based national protectionism sees the immediate introduction of strong capital controls (limits on how much money can be withdrawn from bank accounts or sent abroad), while countries overtly renege on free trade agreements, exacerbating pressure on prices. The collapse of the US dollar accelerates the shift to a basket of currencies acting as reserve currencies, which are ultimately replaced by a global reserve currency. Geopolitical power decentralizes as the wealthiest countries experience dramatic falls in GDP, requiring them to scale back military spending and overseas operations. Communities and their leaders rise to the challenge. Of those that have survived, local businesses, nonprofits, and NFP enterprises play a significant role in providing stability amidst the chaos, responding to the greatly expanded need for essential services such as food, accommodation, and health care. With widespread collapse in government and donor support for nonprofits, the extension of essential services relies heavily on volunteered labor and donated goods. Even government services are propped up with volunteer teachers, nurses, 842 Interestingly, in times of crisis, (de)inflation largely flips -the prices of high-cost assets, except for rare materials like gold, drop and the prices of regular goods and services rise. However, this doesn't reduce the inequality gap because the common economy can no longer afford investments, as income declines in crises as well. 843  doctors, police officers, firefighters, and emergency services personnel. In local communities around the world, people increasingly work together to meet each other's needs directly. They hire one another informally; barter goods and services; and share meals, seeds, tools, energy, fuel, vehicles, and land more readily than ever. Systems of mutual credit and alternative, community-based currencies swell as a means for brokering local exchange. In contrast to previous recessions, the Big Crash is so severe there is a fall in the overall amount of debt in the system847 (and therein the money supply). This is because throughout the crash, governments, corporations, and households are forced to default on debts and declare bankruptcy. When bankruptcy is declared, the unpayable debt is often canceled from the associated financial ledger. When this happens with a lot of large companies over a short period of time, the amount of overall debt (and money) in the economy decreases. Debt in the financial sector also shrinks as the financial markets contract severely.
While governments seek desperately to expand the money supply, trust is so low that financial institutions (other than public banks) restrict their lending, and citizens and businesses try to avoid taking on more risk. In the process of overall debt contracting, insolvencies ensure ownership of assets such as homes transfer from the common economy to the elite economy. With most debts involving payments to for-profit banks, global inequality actually rises further throughout the crash, and the gap between those with investment assets and the means for material security and those without widens. Indeed, many in the elite economy grow their equity investments by buying back stock at various stages of the market bottoming out, and some even make money by shorting the markets before and during the crash. Even the elite economy has shrunk during the crash, with many upper-middle-income households losing everything because they had accumulated substantial debt to support speculative activities or aspirational lifestyles before the crash and lacked sufficient assets to sustain the market's immediate losses. Having already shifted their money offshore before heavy capital controls were enacted, many wealthy people from high-income nations migrate to middle-income nations to avoid harassment and maintain a lavish lifestyle amidst the strife. The Big Crash leaves the economy in a protracted recession. Much more than a "market correction" that returns asset values to "reasonable" levels and clears out unproductive actors in the economy, the crash leaves few nations capable of producing even a single quarter of economic growth. With mass unemployment, many are living in extreme poverty. Average consumer demand is close to flatlining. In India and China, where economists were counting on a large consumer class to develop and spur economic growth throughout the twenty-first century, consumption has dropped with devastating effects. Reflecting the state of the economy, financial markets remain decimated. Investor confidence is at an all-time low, and there is minimal appetite for high-risk ventures, especially new businesses and startups. In isolated cases (and often as a result of direct government subsidies), rumors spread about booming assets. Small bubbles form but pop once the fervor evaporates and the market corrects to reflect the real value of the underlying assets. Rather, during the entire decade, capitalists shy away from equity-based investments since stocks in most sectors, businesses, and commodities offer little security (let alone returns), and those that do are rarely traded. This means few new businesses emerge, and a notable slowing of innovation occurs worldwide. Many for-profit business and political leaders intuit the deep connection between the forprofit system and the collapse being experienced, yet they know addressing these issues means overhauling the entire economy. They often present themselves as offering systemic solutions, but ultimately this is a façade for business as usual. There is still a lot of fear involved in contemplating those kinds of changes because the most powerful people in the world (who continue to bankroll candidates for political office) stand to lose much of their remaining fortunes and power in the transition away from a profit-oriented economy. Most leaders cannot see any viable alternative. The vast majority of people remain stuck in thinking the economy can only model some form of capitalism or state socialism. A bitter debate continues to rage about the free market versus the regulatory state. Some even lay blame for the crisis on the for-profit system not being dominant enough, claiming the 2008 corporate bailouts didn't allow the market to operate freely and effectively, creating inefficiencies that led to widespread overleveraging. Thus, in the longer term, official responses to the crisis largely involve denying its real causes, with efforts geared solely toward restarting the for-profit system. Throughout, there is little public acknowledgment that the global economy is in a state of protracted collapse. Governments try to keep people's faith by distorting statistics in ways that suggest growth is just around the corner. 848 Indeed, growth at all costs is the mantra, and the mainstream argument is social and environmental concerns can only be addressed once growth is restored. This allows lowestcommon-denominator corporate behavior to abound. Following mass layoffs, for-profit companies in high-income nations automate what labor they can while outsourcing most of their service and production centers to low-income countries, where labor is cheap (except for the brightest talent, which remains lured by promises of stock options once the global economy returns to growth). High unemployment and a massive labor surplus mean bonuses and benefits are curtailed, while working conditions and wages deteriorate. In a reinforcing loop, there is a loss of confidence and membership in workplace unions. Largely out of fear, governments do little to enforce good business practices. With the prices of goods and services so volatile, major for-profit companies commonly collude in attempts to gain market share from smaller players, including controlling the flow of information through the media and even the Internet. 849 Corporate fraud-including that committed at nonprofits and some NFPs-has remained high ever since the Big Crash commenced. With governments and the courts scrambling to respond to the chaos, the managers, CEOs, and owners complicit in corporate fraud escape prosecution. On the environmental front, standards have dropped due to inadequate budgets for enforcing regulatory measures as well as the focus on growth at all costs. Ironically, while pre-crash feedback loops continue to drive environmental problems, the global recession and massive drop in demand and global trade (along with the misery it has brought to people's lives) has driven a sizable drop in population growth, consumption of resources, waste, and greenhouse gas emissions (as happened during the 2008 crisis 850 ). Overall demand for coal, oil, gas, and energy-intensive products such as meat dropped in a phenomenon that extended through the decade. Efforts to kick-start growth focus on stimulating market demand and incentivizing private sector investment and job growth. There are still many differences, however, in the ways countries approach fiscal policy as well as their attitudes toward the size of government debt. Many national governments try to stimulate consumer demand through public investment. Measures include the creation of major infrastructure projects and direct payments to citizens (sometimes referred to as "helicopter money").
Although less severe in countries with sovereign wealth funds and public banks, recurring budget deficits are funded via low-yield government bonds, higher taxes on the wealthy, and the privatization of public assets (especially land) at below-market rates. Across all economies, there is public messaging such as "consume to get the economy going" and "have a child for the nation." Other governments focus on maintaining minimal government debt by implementing austerity-based measures. They provide tax cuts for the rich to stimulate investment (thereby increasing relative taxes for the poorer classes). They also privatize public goods (especially services) as part of a targeted plan to cut government services and create more space for private sector businesses in addition to contracting work traditionally performed by public agencies to for-profit companies. 851 Across all governments, standard measures to drive business investment and employment include corporate tax breaks (fearing capital flight), returning to the private sector the businesses and industries that were nationalized after the Big Crash (having absorbed the debt that would have otherwise bankrupt such companies). Although stimulus and austerity measures occasionally provide short-term success in reviving growth, by the mid-2020s, nothing has succeeded in getting the economy back on track. Stateled responses have failed primarily because they have not been able to counter the rate at 850 REF: 851 We already see this happening in political campaigns like the Big Society, in the UK, which is gradually de-nationalizing many goods and services previously provided by the government, like care for the elderly (Ref: NESTA?). Other examples include austerity measures in Spain, Italy, and Greece. which money is siphoned out of the common economy, and the perpetual expansion of sovereign debt has undermined investor confidence. Market-led responses have failed primarily because they have been unable to create the necessary material security in the common economy to allow people to consume at an evergreater rate each year. On the contrary, most approaches have driven greater inequality as the wealth extraction siphon-although weakened by the anemic economy-remains the dominant mechanism through which money flows within the economy. The official story is an extended recession is a necessary part of creating a new and better form of capitalism and such an economy lies waiting on the horizon. A considerable segment of the global population has lost faith entirely in capitalism by this time. For two decades, the global economy has been steadily worsening with no real signs of recovery, despite numerous efforts by governments to show otherwise. Millennials, now in their 40s and 50s, face a future without a secure retirement, even in high-income countries. This generation is the first in high-income countries to have less material security than its parents. In the rest of the world, the majority are struggling to simply survive. The result is widespread participation in anti-establishment demonstrations, protests, and organized social movements. Through the strengthened community, bonds have been formed between people of all political persuasions. Protesters focus their energy on the wealthy and corporate capitalism, demanding that the elite economy and corporations pay more taxes, unfair subsidies and limited accountability end, and money in politics and widespread corruption be addressed. But there remains a struggle (and even contest) to clearly articulate an overarching alternative. Among other proposals852 , word spreads about the not-for-profit market economy as an alternative. Yet many misinterpret the descriptions they hear, dismissing the model as state socialism or communism. They confuse NFP enterprise with the traditional charity-dependent nonprofit model, which conjures up thoughts of inefficient bureaucratic organizations as well as lobbying groups and partisan think tanks. Ignorance, combined with attachment to the old for-profit story, ensures most of the social entrepreneurs seeking to start businesses during this period still choose for-profit legal structures. Some others, who understand more about NFP business, believe it is corrupt for certain nonprofit organizations to make money, especially in light of tax exemptions. What constrains the emergence of the NFP World even more is that, despite shifts, the profit motive and for-profit story remain deeply embedded in the collective psyche, even as capitalism is increasingly challenged. For many, the thought of an economic system based on NFP business is too great a conceptual leap. Many find it hard to imagine a market based on purpose or the idea that human nature is anything more than greedy and competitive. Economists and business schools reinforce this belief. Although there is now greater openness to social enterprise and cooperative models operating with a profit motive, economists and business leaders perpetuate the myth that business is always a for-profit activity and a for-profit market is the only way to ensure appropriate incentives, competition, and the economic diversity needed for innovation and kick-starting growth. People have made the connection between capitalism; the Big Crash; and the crises of inequality, well-being, and environmental degradation, but the pivotal role capitalism's profitmaximizing logic played in triggering these crises is not universally understood. The majority of people still don't comprehend the financial system and how money is created as debt. And most-including many environmentalists-are still unaware they live in a for-profit system that requires an ever-growing throughput of resources incompatible with life on a finite planet. Acknowledging it is our economy causing the sixth mass extinction-and not just some isolated bad behavior-relies on the kind of nuanced understanding of our economic system most people do not yet possess. Nonetheless, global movements result in action that steers the economy and social values in an NFP direction. "Conscious capitalism," "social enterprise," and "purpose-driven business" make headlines, and underneath these concepts lies a powerful longing for distributed power and ownership. The rise of community economies-especially the expansion of the digital and social commons as well as informal barter networks-gives people a chance to realize what is possible without shareholder ownership. Technologies such as the blockchain (supporting decentralized innovations such as cryptocurrencies) continue to show how interconnected economic activities can be governed by collective authentication systems that don't privilege any one individual.
Community purchasing and the management of failing businesses such as cafés and pubs-often under cooperative structures-has proven one of the more dependable avenues for viable local business. Indeed, the movement to divest from the largest corporations is growing, particularly the momentum behind people moving their money out of big for-profit banks. Nowhere has the divestment movement been stronger than in the energy sector, where people, organizations, and governments are encouraged to remove their investments from companies involved in extracting fossil fuels. Despite the ongoing recession, there has been a faster shift to renewable resources than believed possible before the Big Crash. As nations, regions, and communities recognize the desperate need for local energy security amidst shortages and rising prices, there is a strong impetus for the development of a renewable energy infrastructure, especially in countries in which the nationalization of foreign energy companies was not an option. In addition to government initiatives funded by green bonds, subsidies assist communities with forming local NFP energy cooperatives. With the renewal of mass environmental concern in the second half of the 2020s-driven by resource shortages, escalating climate impacts, and conflicts-communities are eager to reduce their ecological footprints, with localization seen as a powerful means by which to achieve strong outcomes. More broadly, there are shifts to systems demanding less energy, such as mass transportation and organic agriculture, with the transition somewhat paralleling what happened when Cuba lost more than half its oil imports following the collapse of the Soviet Union in the early 1990s 853 . But it's not just energy systems that have been transformed. The Big Crash, and the associated drop in philanthropy and government support, have forced traditional nonprofits and those beginning their social enterprise journey to become even more innovative about generating revenue through the sale of goods and services. This means NFP businesses now form an ever-greater percentage of the overall not-for-profit mix, reinforcing the story of what is possible when NFPs run as businesses. While most people still prize employment of any form, there is movement in the jobs market. Not-for-profit businesses are now able to hire previously inaccessible talent, thanks to the labor surplus. Many of those pushed out of large corporations seek work with purpose-driven companies, like NFP businesses, that are increasingly showing their capacity to provide greater job security. Yet many individuals working in for-profit enterprises genuinely believe in the social value of their work and think for-profit business remains the best structure by which to deliver social value. In trying to maintain market share, some continue to use terms such as "sustainable," "sharing," "ethical," and "eco-friendly" as well as seeking to create markets for activities that commonly occur outside the market. The need for businesses to demonstrate social impact is so great most for-profit companies start claiming to be some form of ethical business, social enterprise, or cooperative with a social mission. The for-profit business community, entrepreneurs, and certain consumers and citizens rally behind triple bottom line models like B Corp certification, obfuscating the importance of the NFP distinction. As the 2020s roll on, inequality continues to rise. Unemployment, inadequate wages, and the ongoing extraction of wealth from the common economy to the elite economy mean the majority of the world's population remains enslaved to debt. While debt defaults are still widespread, groups are encouraging people to stop paying down their debt to big banks and corporations. There is growing talk of a global debt jubilee in which a range of debts around the world might be simultaneously forgiven or central banks print and give citizens money on the condition it is used to pay down debt. In a repeat of the Jubilee 2000 actions 854 , multilateral institutions like the International Monetary Fund have already developed a schedule for canceling large amounts of government debt in parts of Africa, Asia, Latin America, and Southern Europe without associated political prescriptions 855 . Such debt cancellations have proven especially beneficial for people in countries where governments had accumulated substantial unjust (odious) debt 853 REF: Power of Community documentary? 854 The Jubilee 2000 was the cancellation of $34 billion in debts owed by 'heavily-indebted poor countries' to high-income countries. REF: https://www.imf.org/external/np/exr/ib/2001/071001.htm. 855 What we are describing here is different from the debt-forgiveness of Structural Adjustment Programs, which offered loans and debt-forgiveness to economies in crisis, but the support was given on the condition that the debtor countries made certain economic reforms that often involved privatizing national services, private foreign investment, and reorienting to export-led growth. dating from as far back as the energy crisis of the 1970s through to the profit-oriented bailout schemes following the 2008 financial crisis. Although debt forgiveness has allowed for an increased focus on well-being-related investments by governments in these countries, it has not been enough to restart economic growth and business worldwide. Moreover, corporate leaders are worried ubiquitous debt forgiveness will undermine the capitalist system, threatening the viability of lending companies and damaging confidence in future lending. And central banks worry about the inflationary potential of a massive increase in the money supply. Sensing the rubber band of inequality is about to snap and afraid "the pitchforks are coming," the world's wealthiest decide on a different form of debt jubilee that actually enables them to be cast as heroes. They use some of their cash reserves to voluntarily create a global relief and stimulus fund for scheduled debt alleviation. The fund purchases and forgives junk debt856 , helps people and nations by restructuring various forms of debt, and-with the assistance of governments-distributes the remaining money in direct one-off payments to citizens. The debt jubilee provides temporary breathing room for the common economy as well as respite from riots and attacks on governments and the elite economy. Because the financing comes from existing money held by the wealthiest-not governments-global inequality drops, and mass inflation is evaded. With a swift injection of liquidity, consumption jumps, giving companies a sales boost.
Nevertheless, these efforts are insufficient to address longterm job security, given far more is needed to provide households with the material security that would encourage a return to strong levels of borrowing and business investment. Moreover, the market has fundamentally shifted over the previous decade. Not only have people been forced to develop frugal lifestyles, but they are increasingly choosing an ethic of "enough" as they see the impact of a stronger community on their daily well-being. For many whose debts are cleared, the jubilee presents an opportunity to further opt-out of the for-profit economy. The philanthropy from the wealthiest segment of society is largely cycled back into the elite economy via rents as well as company profits from increased consumption and, in the case of for-profit banks, debt repayments with interest. With ongoing job shortages and insecurity, debt soon re-enslaves people in the common economy. Fearing anarchy, many governments respond by placing strong constraints on predatory lending, instituting taxes on high-frequency trading, and cracking down on tax havens. As a reflection of the rising social unacceptability of extreme wealth, citizens pressure governments to instate higher taxes on privately owned land and inheritance857 to redistribute wealth and keep a few families from hoarding obscene amounts of assets. The biggest move many governments make is to increasingly take on ownership in the financial sector. In addition to breaking up the biggest banks (a process that includes separating banks from investment firms), governments establish public banks-sometimes as iterations of previously nationalized institutions-at the local, regional, and national levels in countries where they did not previously exist. With all state revenue flowing into public banks, governments can now lend to themselves. 858 The gradual nationalization of the financial sector builds on a more general trend among many governments to become more business-minded and entrepreneurial. Along with income from remaining sovereign wealth funds, the interest on loans to nongovernment entities provides governments with a new form of revenue 859 , allowing many countries to introduce a universal basic income in which the government gives every citizen a base income regardless of employment or financial status. This helps in some ways to increase fundamental levels of well-being for the most vulnerable segments of society. In response to collapses in for-profit health care provision due to the inability of the majority of people to pay for it, most countries move to implement or expand universal health care provision 860 , with many favoring NFP providers of services and goods over for-profit equivalents. It is increasingly seen as best practice to implement universal health care systems in a way that complements rather than replaces traditional community and cultural networks of care. The debt jubilee and basic income guarantee have given people some freedom to reflect on the sobering previous decade. By now, the ways in which the general population thinks have changed significantly. The unrelenting discomfort of the last decades has paved the way for more critical thinking and a newfound openness to different perspectives and alternative approaches to social challenges. Issues like emotional well-being, inequality, and the decline of ecosystems-once considered secondary to the all-important goal of economic growth-are now widely viewed as the foundation of a healthy economy. People are more open to considering ideas for new systems to resolve these issues. Even proposals once considered utopian or out-of-touch with reality at the turn of the century-when it felt like we didn't really need systemic change-are now accepted as viable. Accordingly, formal education shifts have also transpired, playing a critical role in reshaping ideas, attitudes and perspectives. When funding to public education was cut at the beginning of the Big Crash, teaching became more community-based, hands-on, and, in many cases, informal. In rural areas especially, local volunteers replaced the teaching of standard curricula with trades and skills like plumbing, carpentry, sewing, building, farming, and foraging. Of course, there was still a great need for software developers, electricians, chemists, biologists, and engineers, and such skills continued to be taught. There was a new appreciation for skills like counseling, facilitating dialogues, and creating a space for group decision-making. 861 Education moved into unconventional places like peoples' homes, makeshift community buildings, and even the outdoors. 858 Governments that lend to themselves can develop infrastructure for as much as 50 percent of what it would normally cost (REF: Ellen Brown). 859 Note that public banks typically create more revenue than is lost via the absence of for-profit private banks <REF>. 860 Most high-income countries already have universal health care systems, but many of these countries are currently cutting back on their provision due to austerity and privatization measures. We envision these countries expanding their provision of universal health care provision. 861 For more examples of the kinds of subjects receiving greater focus, see: http://postgrowth.org/upskilling-for-post-growth-futures-together/ With some stability restored by the early 2030s, formal education is expanding once more, but with a generally altered purpose seen as complementary to traditional forms of knowledge and modes of learning. With increased humility, more people accept the limitations of Western science. They increasingly accept more traditional approaches to health and education. Learning is seen through an evolutionary lens-people understand we are always learning and developing, without an endpoint. Students are encouraged to cultivate wisdom, knowledge, and skills that align with their passions and interests while also serving practical needs. What is considered practical has taken on a new meaning beyond a skill set that neatly fits the capitalist division of labor. Out of the strengthened community, the arts, for example, are valued for their contribution to improving human well-being and ability to inspire insights and creativity, rather than the "unproductive" label they often carried in the for-profit story. It is far more common for people to learn about diverse fields of knowledge, so even though someone might focus on engineering, they may also study ecology and sociology to understand how these disciplines are connected to engineering. The altered purpose of education enables a more holistic approach to lifelong learning.
The experience of strengthened communities has reinforced the value of providing children with a relaxed, natural, and outdoor experience of play-based activities through their childhood. As a result, more children grow up with a deeper connection to nature than in previous generations-even in big cities-developing what has been termed an "ecological worldview." 862 As children progress into their pre-teen years, they are more frequently sheltered from violence and emotional themes inappropriate for their level of development, especially in light of the ever-present challenges still characterizing people's daily lives. The forced community living of the 2020s also encouraged appreciation for different learning styles and needs. Through the economic collapse, people have come to see the systemic complexity that underlies everything within a larger, interconnected system. With more breathing room in the economy, there is time to think in longer time horizons. Issues such as population pressure and reproductive health come to the forefront, supported by increased NFP services and a caring ethos that strongly values women's rights. Groups use entertainment-education soap operas on radio, television, and the Internet to change attitudes and behaviors toward family planning, reproductive rights, and gender equity.863

Changes in education and thinking coevolve with a more holistic understanding of human nature that transcends the belief that the economy can only function on appeals to individual self-interest. Indeed, people are sharing and spreading ideas and information that flies in the face of the theoretical foundations and assumptions of capitalism. The media reflects this shifting social consciousness. When advertising revenues collapsed at the beginning of the Big Crash, several mainstream media outlets were taken over by NFPs, governments, and nonprofit foundations. The depressed economy resulted in less advertising overall, and with different ownership structures, reporting has become more critical of what's not working (like the "consume for growth's sake" narrative) as well as providing hope by shining a spotlight on what's working. A wider evolution of the public service develops, led by government-wide reviews undertaken by each country's auditor-general. Democracy is experiencing a revival, particularly in low-income nations, with the spread of fair and open elections, citizens' juries, people's parliaments, and online referenda. Seeing the paradigm shift is forging an economy that works for social good, the younger generations of the elite economy want to be part of the positive change as well. 864 Having inherited wealth from their Baby Boomer grandparents865 , some of them are ashamed of the role their families played in creating inequality and ecological devastation. When they realize they can help remedy the primary challenges of the twenty-first century-becoming local heroes as respect and social status shift from wealth accumulation to social impact-they increasingly have an urge to:

• charge fair rent on their properties, rather than trying to maximize their personal gain; • focus on the service aspects of property management;

• allow for the low-cost use of vacant housing;

• expand affordable housing opportunities;

• donate land to community land trusts and land conservancies; • be more philanthropic as well as lending money to NFPs; and • start NFP enterprises themselves. While the wealthy play a crucial role in influencing the direction of the economic system, the NFP ethic has been most strongly pioneered by "poorer" communities. In the early stages of the crash, necessity proved the mother of connection for communities worldwide, causing people's compassion and empathy to deepen. Yet in poorer rural and urban communities, including slums, such deep connection already existed. Because people living in extreme poverty had come to depend on each other rather than state welfare, they could more quickly adapt to the devastating decline in global conditions. Building on their strengths, many combined traditional knowledge with the decentralized innovations of the twenty-first century (including those the Big Crash accelerated)866 in fields such as energy, communications, agriculture, and manufacturing to create resilient local economies. At the international level, low-income countries focused through the 2020s on substituting imports with local production because it was the only way to respond to the collapse of global trade. Now, thanks to the liberating effects of debt forgiveness, they are charting a new development path focused on well-being and the collaborative fulfillment of needs, not economic growth. Not-for-profit businesses (especially cooperatives) are taking off especially fast across Africa, Latin America, and Southeast Asia, where there is considerable openness to new approaches and cooperation happens more easily. Following the villages' lead, cities undertake retrofitting measures to ensure peoples' needs can be met while maintaining low ecological footprints. Globally, there is increasing acknowledgment of the alignment between the NFP business model and the direction in which popular values and behavior are heading. The not-for-profit ethic is seen as representative of the next step in the moral evolution of humanity, with NFP enterprise progressively viewed as a functional business model on which the entire economy could be centered, efficiently delivering the goods and services society truly needs. More aware of their potential to transform the economy for the better while harnessing and maximizing their ethical, financial, and workforce advantages, NFP organizations are intentionally driven to outperform for-profit businesses in the market. Many NFP enterprises display their NFP status with pride to show they are 100-percent mission-driven. <pq>"Notfor-profit" has become a mantra for the new economy movement and those yearning for economic justice.<pq>"

The rigid for-profit mentality is unable to keep up with the flexibility demanded by the social and cultural shifts toward sharing and collaboration embraced by NFP businesses. For-profit corporations grasp for ways to keep knowledge and innovation private, but they are swimming upstream in the face of free-flowing information, rise of the digital commons, and evolution of the patent system, which rewards more open forms of innovation. Continuing to emerge in traditionally for-profit fields such as law, real estate, marketing, manufacturing, and IT, NFP companies tend to offer concessional pricing to-and procure goods and services from-fellow NFP entities, while for-profits still contract for-profits at typically higher cost.
In part due to ongoing government subsidies, goods and services offered by companies that don't have an active commitment to social and ecological sustainability remain cheaper than those offered by socially-and environmentally-minded companies. This gap in prices is narrowing, however, as increasing demand for ethically produced local items allows NFP businesses to take advantage of economies of scale and environmental tax breaks while avoiding worldwide fine increases and the rising costs of long supply lines (favored by forprofit multinational corporations). Despite some places still wishing to attract foreign investment and business, cutting costs by offshoring operations to places with lax environmental regulations and fewer labor rights becomes less feasible due to global pressures-especially the expanded Fair Trade movement. Indeed, labor costs in low-income nations (especially China and India) have been rising 867 through greater equality, global campaigns for working conditions and wages, and the introduction of the universal basic income in many countries. By the mid-2030s, the rise of the NFP economy and corresponding decline of the for-profit economy are so evident that those with a major stake in maintaining the for-profit status quo start to wage a serious fight. Up to this point, polite condescension and casual mockery about the role of NFP business in the economy had formed the extent of the pushback. Now forprofit businesses launch a concerted campaign touting their social and economic credentials, along with warnings that a world with more NFP businesses (i.e., the absence of the profit motive) would be doomed. They run media campaigns spreading misinformation and fear about NFP agencies. The larger context involves individual, for-profit entities sabotaging NFP competitors by spreading rumors and seeking to ruin their reputations. Such smear campaigns damage trust in the NFP business model among people who don't possess a solid understanding of its fundamental importance to a sustainable future. In some cases, scandals and poor actions by NFP businesses and their leaders reinforce the damaging messages, making the NFP World appear less desirable. Further escalating matters, investors and for-profit banks squeeze NFP access to capital, and for-profit companies restrict their business-to-business dealings with NFPs. For-profit companies sue NFPs for patent and copyright infringement, with certain large corporations taking legal action against governments that actively favor NFP enterprise. Many politicians fall in line. They declare their intentions to outlaw NFP discounts to other NFP businesses (under anti-competition/anti-monopoly laws); cease grants to not-for-profit organizations with business activities; remove tax exemptions 868 ; and force all NFP companies to pay taxes on unrelated business income. In extreme cases, there is even talk of NFP businesses being forced to take on the for-profit legal status, as happened to the credit unions in Canada in the early 1970s. The for-profit campaign to derail the rise of NFP business is largely in vain. Given NFPs have reached the point where they are seen as such a threat by the for-profit world, they have also achieved a critical mass of supporters 869 who, in the digitally networked era, rapidly mobilize to halt attempts to undermine the NFP sector and its rise. The central role of the for-profit ethic in scandals is evident, and there is now a powerful social disdain for this behavior. In the end, the scandals even solidify the importance of the NFP ethic and drive greater transparency in business more generally. Foundations and NFP banks continue to make loans to NFP businesses at below-market interest rates 870 , and NFP's access to capital enjoys sustained growth thanks to an emerging class of NFP investors. As more people understand the prudent nature of NFP governance, like the reduced ability for vested interests to drive board oversight, they become more willing to contribute to NFP capital-raising campaigns, mainly through debt-based investment (such as social finance) and crowdfunded contributions. Of major importance, pension funds now regularly invest in NFPs, which are increasingly perceived as a safe and socially valuable avenue for investment. Campaigns successfully defend the ability of NFPs to provide discounts to other NFPs and conduct unrelated business while receiving tax exemptions due to their social impact. Such 868 A current example of this can be seen in Governor Paul LePage of the US state of Maine stating that he believes that the state should impose property taxes on nonprofits, because they are "takers, not givers" Ref: Christian Science Monitor article 869 For a contemporary example, look at the campaign to keep tax exemptions for US credit unions or the campaign to maintain access to generic HIV/AIDS drugs in South Africa. There are numerous historic examples of mass protests and demonstrations when a moral line of this nature is crossed. Once something is allowed and gains enough citizen support, it's very difficult to reverse its allowance. One very clear example of this is how big a failure alcohol prohibition has been all over the world. Or in a more similar vein, imagine what would happen if the American government tried to do away with civil rights, women's suffrage, basic environmental protection laws, or the minimum wage. There would be enormous uprisings. 870 This already happens. Ref: Fruchterman article. campaigns are also quick to point out that taxes are still collected through such activity via taxes on wages and the sale of goods and services. As a result of for-profit scare tactics, the struggle to secure an NFP system gains valuable exposure on the world stage. The more visible NFP enterprise becomes, the more people become aware of it-and start looking to buy from, work for, and even start NFP businesses. By the late 2030s, a significant portion of the population has come to realize the NFP economy can deliver outcomes the for-profit economy simply cannot: greater well-being, economic stability, increased equality, and respect for the biosphere on which we depend.
In places that have chosen to actively support for-profit activity, it is now clear staying profitoriented has made the environmental and social crises worsen, while well-being, inequality, and ecological conditions have improved in the places that have chosen to go in an NFP direction. Many citizens now favor NFPs over for-profits in whatever consumption choices they can. Under enormous public pressure, policymakers make a U-turn on their earlier plans to strengthen for-profit business at the expense of their NFP competitors. They intentionally move their support to the NFP sector, proactively favoring NFPs in state contracts, subsidies, and new policies. They increase the number of grants provided to NFP startups and offer additional training, mentoring, and physical spaces for business incubation. This U-turn is partly possible because a growing number of people have been voting for politicians focused on creating a purpose-driven economy, especially at the local level. With most people able to see the impact of the wealth extraction siphon more clearly now, a movement for financial reform assembles in the strongest of ways. In many countries, public demands carry greater weight due to corporate lobbying restrictions instituted by campaign finance reform, which keeps big money from taking over political campaigns. Indeed, politicians are now able to campaign on an NFP platform. As 2040 approaches, the Big Shift occurs: NFP enterprise replaces for-profit enterprise as the central mode of business. Most remaining for-profit corporations fail as the majority of customers shifts their patronage to local companies, worker cooperatives, and NFPs. Governments nationalize certain failing businesses but let others collapse, a limited number of which are acquired by thriving NFPs. To avoid failure, some for-profit companies shift to NFP structures themselves871 or create new NFP structures and gift over residual assets. But most medium to large for-profit businesses simply shut down as they are outcompeted by NFPs and react too slowly to changing conditions to survive. For solo entrepreneurs and small business owners seeking to scale up, the NFP route is now the most favored form of incorporated business. The end of the for-profit model's dominance coincides with a larger evolution from stock markets to bond markets. This transition includes many intermediate developments, including experiments with capped returns and limited term stocks 872 ; systems that reduce high-frequency trading 873 ; and local, regional, and social stock exchanges 874 . Such developments greatly reduce speculative financial activity. We have entered an NFP World. <pq>Rather than the invisible hand somehow delivering collective well-being via everyone working toward their own short-term self-interest, the visible hand of NFP enterprise delivers collective well-being through the reinvestment of company profits into further social outcomes.<pq> The wealth circulation pump is now stronger than the wealth extraction siphon. Differences in pay (including gender-based) are smaller than in the for-profit economy and not disproportionate enough to stagnate the circulation of money. With the NFP market's surplus largely circulating throughout the economy, the wealth that has been concentrating in the elite economy is working its way back into the common economy. Prices of everyday goods and services have stabilized, and housing-along with other factors influencing material security-is increasingly affordable, thanks to the free circulation of money and debt, which enables real wealth and value creation. Over the coming years, the elite and common economies merge, ushering in the first large-scale improvements in the human condition in decades. Around the globe, people are filled with hope as they see the bigger picture of change emerging. As people gain material security through greater equality, their fear and belief in the need to dominate others and nature to survive (the dominator model) are replaced with calm and the understanding that when we nurture each other and nature, there is more than enough for everyone to thrive (the partnership model). Geared toward positive social outcomes, the NFP World benefits vulnerable groups (often minorities, women, and children) and creates more widespread socioeconomic equality while building on developments from the community level, all of which alleviates tensions between races, nations, cultures, genders, and socioeconomic classes. The prevalent notion that we are all in this together creates more space to discuss and address social oppression. Local forms of truth-and-reconciliation commissions are ongoing, allowing the voices of those who suffered under the for-profit era to be heard and facilitating healing between the dominators and dominated. These commissions give people the chance to express the pain and residual anger that has accumulated over millennia of domination and suppression. Religious extremism and the threat of international terrorism are also fading, and armed conflicts are waning. As British economist and Small Is Beautiful author E.F. Schumacher noted in the 1970s, "People who live in highly self-sufficient local communities are less likely to get involved in large-scale violence than people whose existence depends on world-wide systems of trade." Indeed, less consumption and trade mean less motivation for countries to extract natural resources from each other. And the absence of the for-profit ethic frees governments to focus on real security rather than military prowess, defense, and economically motivated control. A new generation committed to peace is emerging in a world that is 873 <REF?>. 874 Canada, the UK, Singapore, South Africa, Brazil, and Kenya have already started their own social stock exchanges. <REF>, while in the US we see examples of local stock exchanges such as California Stock Exchange, Hatch Oregon, and NPOEx (an NFP stock exchange that offers virtual shares and a purely social return on investments (Ref: http://npoex.strikingly.com). dramatically fairer, encouraging extensive multilateralism in policy spheres. Youth are cognizant that moving beyond the for-profit system is a turning point for humanity. Not everything is rosy, though. The shift to the NFP World is not a utopia, nor is it a silver bullet. International, regional, and subregional disparities in wealth remain, along with struggles for land and autonomy. Regional conflicts over resources continue as the pressures of climate change are further felt. A lot of residual and silenced suffering from the for-profit era is now bubbling to the surface.
In the for-profit world, this pain had been dismissed, denied, repressed, or trivialized because acknowledging our economy systematically led to social oppression was equivalent to questioning the fundamental assumptions and very legitimacy of our existing system. Strong differences of opinion on social issues still exist, as does sociopathic, ruthlessly competitive, corrupt, and greedy behavior. Individuals and communities face the ongoing challenge of learning how to get along better, with growing awareness of the need for everyone to work on healing their own internal struggles. Crime, violence, mental illness, addiction, suicide, homelessness, and even a black market still exist. But all of these have decreased greatly from levels in the previous twenty years as numerous businesses and organizations have emerged to help people with these issues in every community, and most people lead more physically active, connected, and fulfilling lives. The legacy of the for-profit era has combined with new issues emerging in the wake of the Big Crash to engender significant concerns. A series of unforeseen health crises has been exacerbated by superbug resistance to antibiotics. The former use of toxic profit-driven agricultural production methods and of dangerous materials in products and buildings are triggering new health problems amongst the global population. Environmentally, matters remain precarious. The material and energy footprint of the digital revolution (and even the costs of the mass transition to renewable energy) were severely underestimated. Feedback loops remain problematic, ensuring ongoing weather extremes and impacts from the era of environmental degradation continue to be felt. Further planetary boundaries have been crossed, such as ocean acidification, which has led to the collapse of global fisheries as well as the sweeping extinction of much marine and land life. In the process of goods and services becoming more accessible through greater economic equality, some people who have been liberated from true scarcity temporarily consume as much as they can. Unaccustomed to the availability and accessibility of goods and servicesand after many generations of the for-profit story dominating society-they try to compensate for feelings of emptiness, scarcity, and inadequacy through material consumption. We call this phenomenon the liberation effect. Yet the liberation effect is likely short-lived, if it happens at all, thanks to the evolving NFP ethic. Consumption falls rapidly when people realize that not only is there no longer a need to accumulate material goods to show one's status but such behavior is increasingly considered socially unacceptable. People who consume more than they need are seen as heralding another destructive for-profit era, which many are eager to ward off. By 2040, the lean society model has emerged. Many needs are met most efficiently outside the market, with phenomena like the gift economy, time banking, community gardening, "upcycling," peer-to-peer production, and sharing now widespread. It is common for neighbors, friends, and family members to "share the care," helping each other with activities that used to be paid for, like caring for children, elderly or sick family members, and each other; cooking meals; cleaning homes; growing food; and making repairs. In the Big Shift, many for-profit companies died out completely rather than being replaced by NFPs because people started doing so much more for themselves and for each other-often simply by matching what they could offer with what others needed through offers and needs markets 876 . For needs met through the market, NFP businesses (including government enterprises, various forms of cooperatives, and industrial foundations) comprise the primary providers along with sole traders and nonprofits. Residual for-profit social enterprises are fading through social pressures. Charities now receive corporate philanthropy from businesses that benefit the community instead of profit-maximizing businesses that exacerbate the very conditions many charities seek to ameliorate. 875 Note, that while the end average consumption of 'the poor' is higher than to begin with, the overall footprint may be lower due to relative decoupling, over time. 876 See: http://postgrowth.org/running-an-offers-and-needs-market/, or for a current example of an offers and needs market, see online Freecycle groups that are spread around the world. Financially motivated political capture has all but ended. Elections, policies, subsidies, and tax breaks can no longer be "bought" by for-profit corporations, leading to the associated end of the military industrial complex877 . But there is carryover from the for-profit world. While there is a welcome influx of for-profit expertise, capital, and connections in the NFP sector, for-profit managers, owners, and executives also bring aspects of the for-profit ethic and culture into their NFP businesses, such as the focus on corporatization, efficiency, hierarchy, and obedience to authority-to the point of it becoming rigid dogma. Likewise, some legacy nonprofit bureaucracy remains, but it is counteracted by the decentralization of power within the market. With a large proportion of most communities employed by NFPs, not-for-profit companies become even more embedded in community contexts. Local stakeholders influence programs, policies, and budgeting, leading to effective and efficient outcomes thanks to smaller and more appropriate economic flows. Most people in paid employment are hired to work twenty to thirty-five hours a week, an amount that is fast dropping. A much larger portion of society derives a sense of purpose from their paid work than at the turn of the century, and many no longer see Mondays as the worst day of the week. With purpose at the heart of business, even the mundane tasks that haven't been automated are experienced with greater joy. In the case of unpaid caregivers, the universal basic income has reduced the need for additional paid work to survive. The reduced number of hours in paid employment permits a more equal distribution of household tasks within families. Overall, most people have more time for doing non-work-related activities, like playing sports, games, and music; enjoying entertainment; working on new ideas and inventions; creating art; spending time with loved ones and in nature; gardening; making fresh food; and savoring all the other beautiful experiences life has to offer.
The end of the era in which business had a mandate to maximize profit no matter the social and environmental costs combined with the merging of the elite and common economies extinguishes the culture of consumerism and the imperative for economies to grow. By the mid-2040s, the ethic of enough is firmly embedded in society. The anxiety that drives people to buy things they don't need or want has faded. When people do still buy unnecessary goods and services, it is rarely as a form of "therapy," compulsion, or addiction but instead primarily involves purchasing recycled, refurbished, or secondhand goods. Upcycling, reusing, repairing, and recycling manufactured products is more common than buying completely new items. Even products that seem new often contain recycled components, with significantly reduced and different forms of packaging. Products are made according to the principle of built-in-resilience-they are designed to last as long as possible, with the ability to be recycled or reused if they break. Levels of consumption ebb and flow, staying mostly within the planet's ecological limits. Indeed, we are close to achieving a steady state economy. The innovative efforts of NFP enterprises combined with the decrease and localization of trade, production, and consumption mean greenhouse gas emissions are close to peaking. Renewable resources provide for the bulk of the world's energy needs, and the global human population is close to stabilizing in number. Together, these factors provide the earth with breathing room to heal from the destruction caused by the relentless growth of the for-profit system. To address the ongoing legacy of environmental feedback loops, businesses, nonprofit organizations, and communities are working to restore and regenerate ecosystems through processes such as mass reforestation and soil remediation. While there was no single technological innovation that magically addressed all of the world's environmental and social ills 878 , there have been amazing advances since the Big Crash began, especially in the fields of communications, IT, material science, energy storage, and energy generation. Importantly, open-source science and the hacker culture in the digital commons make amazing technological innovations widely available. We have not colonized other planets by 2050, but we have something better than that: a thriving human civilization that can continue to coevolve with other species on this magnificent planet we call home. Looking back from 2050, it is hard to reconcile what transpired during the latter stages of the for-profit era. How did businesses get away with damaging nature and hurting people for a few individuals to profit? Why did charities take money from companies that were doing more damage to society than they could ever compensate for? And why were citizens and consumers ever okay with those kinds of businesses? The Millennials tell their grandchildren that was just the way things were back then-in the absence of a better alternative. As we have explored throughout this book, the circulation of money (and therein debt) is the lifeblood of a healthy, modern economy. But as we have discovered, any system that privileges profit-maximization will ultimately result in economic stagnation due to the concentration of money and reciprocal accumulation of debt. When businesses are driven primarily by purpose-not profit-money and debt more readily circulate in the economy, allowing broad wealth creation, material security, and well-being. 878 Examples of these technological panaceas include the singularity, or a 'free' energy source being discovered that defies the laws of thermodynamics. If such a source was discovered, this could break down the market system altogether, because people would be able to do almost everything for themselves with free energy. However, this still wouldn't address the issue of environmental degradation. To the contrary, without a change in mentality and values away from Homo economicus, free energy would only exacerbate the ecological crises, as it would enable people to consume even more resources, more quickly, creating, accumulating and throwing out as much as they want. Resource shortages would soon ensue and result in an economic crisis and we'd be suffering major health crises due to environmental pollution. A world with free energy would still have to figure out ways of making sure we take care of the natural environment. This also allows for reduced levels of consumption. Thus, moving from the for-profit world to the NFP World is absolutely necessary if we desire a healthier, more equal society that can flourish within ecological limits. Yet an NFP system is not inevitable. Capitalism may be coming to an end, but what follows it could be disastrous. If a ruthless form of corporate capitalism undermines communitybuilding efforts and the NFP sector in the ensuing years, we could enter the Big Crash facing even deeper ecological and social distress. Our environment could be on an unstoppable path to full systems collapse 879 , likely leading to our mass extinction. And if things head in a more for-profit direction-with NFP activities being usurped or outcompeted by for-profit businesses 880 -we could lack the cushion of collective resilience (reinforced by low levels of trust) needed to buffer the worst impacts of the Crash. Or perhaps the Crash will be so devastating that we will enter a "fortress world" scenario, as described by the Global Scenario Group 881 , in which authoritarian figures take over amidst the chaos of social collapse and survivalism, enforcing prolonged martial law and a culture of war and terror. Even the path to an NFP World can take many different routes, some better for society than others. Keeping these weaknesses and challenges in mind is crucial as we advance with the intention of creating a flourishing Not-for-Profit World economy. How we reach the NFP World depends, to a large extent, on how quickly social norms change in the not-for-profit direction. Will most businesses continue to seek profits above (or even alongside) all else? Or will they learn to embody an ethic of enough? Will the richest people in society continue to be publicly lauded for their accumulation of wealth and "charity"?
Or will they become local heroes for widely sharing their wealth to create social impact, establishing not-for-profit businesses and community land trusts to steward the land they aren't directly using? Will feeding off exploitative rent and interest payments from poorer classes remain socially acceptable? Or will popular culture shift toward deeper definitions of success and prosperity, which praise contribution rather than accumulation? Will governments see the rise of NFP enterprise as a threat to for-profit market competition and economic stability? Or will they see the value of having a higher moral standard in 879 We have assumed throughout this chapter that, through the coming great transition, the feedback loops driving ecological devestation are not strong enough to lead to a full ecosystems collapse in the next few decades. 880 The Skoll Foundation, for example, advocates that nonprofit organizations should transition to for-profit structures. This is an attitude also found in an article published by Forbes called 'The Nonprofit Sector Should Not Exist'. (Ref: Forbes article; Skoll Foundation article). Despite the rise of NFP business, the nonprofit sector is still largely made up of traditional nonprofits that might tend to operate inefficiently. As a result, for-profit businesses might move into traditionally NFP sectors, rather than the other way around. We can already see some of this happening, with the advent of for-profit charter schools, for-profit nursing homes, and for-profit daycare services <Ref: Hold the Fort report>. It is possible that all of the trends we've mentioned will not strengthen fast enough to counter for-profits outcompeting inefficient nonprofits. Consumers could continue to see things as a choice between business and charity-dependent nonprofit programs. If most people aren't aware of NFP enterprise as an option in the near future, and if NFP enterprise doesn't rise fast enough to secure a solid place in the economy, the for-profit economy could take over completely. 881 Ref: Global Scenario Group business and, as a result, promote NFP enterprise? Will for-profit businesses sabotage NFP competitors and create misinformation campaigns? Or will for-profits continue to move in the NFP direction? Will citizens and consumers support NFP businesses and favor them over forprofit competitors? Will a significant number of people become aware of the potential of NFP business to create better outcomes for everyone before for-profits begin to perceive NFPs as a threat? It is impossible to say precisely what will happen, and there are an infinite number of pathways forward. We all play a role in the way this story unfolds. Nonetheless, all kinds of extraordinary changes are happening over the globe. The transition to NFP enterprise is just one of them. Together, they form the basis for a story of hope. What, then, can we actually do to create the more beautiful world our hearts know is possible? The day Kristen Christian heard her for-profit bank was introducing fees on checking accounts with a balance below $20,000, she decided enough was enough. She moved her money to a not-for-profit credit union and set up a Facebook event page encouraging 500 of her friends to do the same. The twenty-seven-year-old art gallery owner from Los Angeles had no idea what she was about to inspire. The ensuing five weeks involved one of the largest consumer migrations in US history. Between September 29, 2011-the day Bank of America announced its (now-defunct) monthly fee-and November 5, which Christian dubbed Bank Transfer Day, credit unions received $4.5 billion in funds and 440,000 new customers, equating to a 50-percent increase in new accounts. 882 An estimated six million Americans changed the way they bank in the year following the first Bank Transfer Day, 883 with credit unions experiencing exponential membership growth 884 . In America alone, credit union membership has passed 106 million people, 885 who are saving a combined $6.3 billion a year in lower fees and better rates thanks to their banks being purpose-driven and not-for-profit 886 . Christian's action galvanized everyday citizens into choosing the NFP way when it came to banking, but it also encouraged change at the upper end of town. Fed up with not mattering to the big banks, one Seattle businessman moved $3 million out of Chase and Bank of America into his local credit union. 887 Following that first Bank Transfer Day, half a dozen additional "move your money" movements emerged across the globe, with many of these movements continuing to this day to promote community-driven finance. 888 We Are the Leaders While capitalism is devolving toward collapse, we all have meaningful choices to make. What sort of post-capitalist world do we want to help create? What roles do we want to play in defining this new world? The decisions we make and the ways we choose to direct our energy can profoundly influence the formation of a future that would truly sustain us. How we will shape the post-capitalist world is up to all of us. For too long, we have placed considerable faith in decisions made by experts in government, business, and science. In reality, as Kristen Christian's example illustrates, evolution to a new economic system will involve everyone's input. This requires us to thoughtfully consider mind when it comes to administrative costs for NFPs 895 ; their employees need adequate compensation, and good salaries attract talent. Another great starting point is moving your money to a credit union or other NFP financial institution. 896 Most people are pleasantly surprised to discover the range of services credit unions offer, including widespread access to ATMs, which hasn't always been the case. In America and elsewhere, certain phone apps make it easier for you to find local options. 897 If there are no NFP banks in your community, consider switching to a smaller local institution or even working with other community members to form your own credit union 898 . You can also do something powerful with any credit card debt you currently hold with a for-profit bank.
Open or extend a line of credit with your credit union and pay down your debt using this line of credit. Not only will you likely receive a much lower interest rate on any balance you carry forward, but you will know the interest you pay is going back into your community thanks to the NFP structure. In addition to moving your money (and continuing to donate) to NFPs, if you have investments, you can begin to divest from the for-profit economy. If you have funds under management, see if your fund manager offers an ethical option for your investments. 899 Pressure your fund manager to divest from the most destructive industries and companies or sign yourself up to the growing ranks of shareholder activists 900 . While we can't offer financial advice, when it comes to self-managed funds, it is worth noting government bonds offer an established avenue of investment in an NFP activity. Other investments through debt-based crowdfunding and peer-to-peer lending are in an exciting stage of development. You may also wish to start with the broader field of impact investing, which often focuses on purpose-driven for-profit initiatives but can be a less risky investment. For those who are accredited investors, keep an eye out for opportunities to loan money to younger social entrepreneurs. One UK study 901 showed younger people are more likely than the general population to want to start a social enterprise. Startup weekends and public pitch events offer great opportunities to make such connections. If you are seeking to purchase a home, investigate your local options with respect to community land trusts, eco-villages, intentional communities, and housing co-ops (especially those that are non-equity-based). If none exist, consider starting one of these forms yourself, with the help of family and friends. 902 If you are selling your house, try to avoid transferring it to a property developer, unless the intention is to create affordable housing. If you are a landlord, think about adding affordable housing to your portfolio or selling your property to an NFP or into a housing cooperative. If you want to go even further, you can gift your property into a community land trust or bequeath it to an NFP in your will. a break in the status quo story for those around you, spurring them to question their assumptions, even if just for a few seconds. If you act in an unexpectedly generous or kind way, for instance, it weakens the story that human nature is mostly greedy, selfish, and competitive. This is why the work of millions of people around the world on issues of inequality, declining well-being, consumerism, social justice, and ecological devastation is so vital. These movements create the fabric for a new story, stirring us from our preconceptions of what is "normal." Moving beyond the for-profit economy to a flourishing NFP World strengthens all of these movements. We must evolve past an economic paradigm focused on private individual gain to address the root causes of the issues these movements seek to ameliorate. In a for-profit world, all we can do is apply temporary fixes that are wholly inadequate for the size and depth of the challenges we face. The NFP model, supported by the growing movement for a new economic story, provides the missing key for which we have been yearning. It offers a focal point for social and environmental movements in desperate need of a unified approach to their diverse thinking903 , speeding up the systemic change we so desperately need. Simply speaking about NFP enterprise and the NFP World vision is of great value. The more people use the terms "for-profit" and "not-for-profit" (or "NFP") and discuss the NFP World, the more others will learn about this alternative and the quicker the movement will grow. At the more specific end of advocacy, you can publicly support the ability for NFPs to conduct unrelated business and directly compete with for-profit companies, without threat to their business tax exemptions 904 . In this way, you can show how we do not so much need new legal structures for social enterprise as we need a re-evaluation and broadening of existing not-for-profit structures. You can also voice support for new forms of debt-based investment in NFPs, helping to expand the community's ability to finance new purpose-driven initiatives. To gain a better understanding of the NFP legislation in your part of the world, visit the International Center for Not-for-Profit Law's comprehensive online database 905 . Even if you are not an outspoken advocate for the NFP World, you can make a vital contribution by aligning your actions with purpose. If you currently work in an unsatisfying job at a for-profit company, consider working for an NFP enterprise that aligns more with your passions instead. In addition to performing more meaningful work, you are more likely to enjoy long-term job security as the economy shifts in the NFP direction. We recommend investigating your options closely. When applying for an NFP job, ask your potential employer, "What's your business model?" This will reinforce the growing social expectation that NFPs work toward financial independence rather than reliance on charity. If you work at a for-profit cooperative, raise with your colleagues the idea of transitioning to an NFP model while retaining cooperative values and practices. This could involve shifting to a worker self-directed NFP or a nonprofit mutual corporation. 906 Wherever you work, there is always the opportunity to volunteer for an NFP business. Even though you aren't being financially compensated, you will be increasing that organization's market competitiveness, creating a healthier community, and-given that it feels good to volunteer with an organization whose ideals you support-contributing to your own wellbeing. Finally, you can consciously avoid the downward spiral of working longer hours and refuse to maximize productivity at the expense of your well-being. Rather, seek balance. Carrying the ethic of enough with you into your work and personal life can be empowering and can send an inspirational message to others.
If you work at a traditional nonprofit or charity-whether you are a volunteer, paid worker, manager, CEO, or board member-you can help shift your organization to a more efficient, independent, and enterprising model. At organizational meetings, raise the idea of becoming more financially self-sufficient. Use lean business concepts 907 as an alternative to time-intensive business plans. Test the innovative finance mechanisms we have outlined in this book. Create revenue generation strategies that build on your organization's existing strengths, integrating sliding scale or scholarship models where possible. Throughout, see if you can use NFP-friendly alternatives for status quo vocabulary to help spread awareness of the NFP distinction: for example, use "not-for-profit" instead of "private"; "patronage returns" instead of "dividends"; "stake" instead of "equity"; "members" instead of "owners"; and "stakeholders" instead of "shareholders." 904 For example: http://www.donttaxmycreditunion.org/. In fact, Canadians could even pressure their political leaders to reinstate tax exemptions for credit unions, returning them to their NFP roots. 905 http://www.icnl.org/research/library/ol/ 906 907 Including the lean business canvas. Use your NFP status to your competitive advantage. Seek procurement discounts, especially for software 908 , and explore tax deductions for volunteers, pro bono consultants, or property owners who are willing to offer your organization reduced-cost rent. Make your NFP status an integral part of your marketing strategy-something that distinguishes you from competitors. For example, when you download Mozilla Firefox, a message appears saying, "Thanks for downloading Firefox! As a non-profit, we're free to innovate on your behalf without any pressure to compromise. You're going to love the difference." Indeed, as an enterprising NFP, you are at the leading edge of business, contributing to a better economic future for us all. You can also make sure your NFP follows best practices such as:

• establishing thorough policies, procedures, and bylaws 909 ; • establishing a compensation committee;

• undertaking voluntary financial audits;

• ensuring public transparency and accountability (e.g., publishing annual reports, financial statements, and possibly board meeting minutes); • treating volunteers and staff with equal dignity;

• ensuring financial literacy across the organization (especially the board); • maximizing participation in budgeting processes; • using democratic decision-making processes and creating a culture where objections are embraced for their potential wisdom; • sharing and collaborating with other NFPs whenever possible 910 ; • providing thorough onboarding (induction) and exit procedures; and • conducting periodic organizational reviews. Investing in ongoing training and professional development is the most effective way to ensure high organizational standards. It also builds the pool of potential NFP consultants, who will be essential during the great transition ahead. If you are an entrepreneur, consider starting your next venture as an NFP enterprise. Perhaps you have even become an NFP entrepreneur by accident because you didn't like what an FP business was doing in a certain sector (as was the case with the folks behind VTC Cab, an NFP alternative to Uber in France 911 ). Whatever your motivation, there are numerous resources available to help you on your journey. 912 If you're not yet sure whether you want to choose the NFP route, keep your options open by avoiding the distribution of company equity (i.e., stick with crowdfunding, loans, and other forms of debt-based financing). At the least, try to avoid the restrictions that come with venture capital. 908 even if your organization is not US-based, most US software companies will honor foreign organizations that can prove their legal NFP status. 909 Especially those relating to: conflicts of interest; corporate structure and the delegation of powers; whistleblower protection; discrimination and grievance; conflict resolution; document retention and destruction; financial controls; ethical investment; gift acceptance; maximum employee income differentials; joint ventures; and board term-limits and rotation. 910 Given your organization is part of a complex, interdependent ecosystem, seek to strengthen fellow NFPs in every way possible. Move into deeper, smarter models of partnership that are grounded in the strengths of each organization and save partners time and money. Join with other groups to database investment needs, and support the peak bodies representing NFPs in your industry. 911 http://www.theverge.com/2015/12/3/9841562/french-uber-drivers-launch-app-vtc-cab. 912 See, for example: https://www.councilofnonprofits.org/tools-resources; and our forthcoming book, The Not-for-Profit Handbook: http://notforprofithandbook.org. If you are an owner of an existing for-profit business, consider making your company not-forprofit. Based on the trends we have outlined in this book, shifting to an NFP legal structure may be the smartest way to ensure your company exists well into the future, both financially and in terms of your vision (via the anti-takeover protection NFPs offer). 913 The first route to taking a company not-for-profit is to buy back existing shares. Ironically, this strategy is one large companies have long employed to make their earnings look better. 914 If your profits or net capital reserves are strong, you may be able to do this without securing a loan. You may also choose to reduce the overall volume of stock via an equity-for-debt swap, either with existing shareholders becoming the lenders or by taking out a loan to finance the repurchasing of shares. Once the company has been divested of all its private equity ownership (i.e., it is "self-owning," either through the absence of stock or complete ownership of reacquired stock), it can be rechartered as an NFP. Nationwide Mutual Insurance, a Fortune 100 company, did something similar in 2008 when it purchased all the outstanding shares it did not already own in Nationwide Financial Services (NFS), making NFS a wholly owned subsidiary 915 -except in this case, the parent company, Nationwide, was already an NFP company. This isn't just an idea for existing NFP companies. It is possible a passionate CEO, innovator, and investor like Elon Musk might see the economic and innovative benefits of having his companies (such as Tesla) repurchase their publicly traded stock (including his own) to allow for their transition to NFP companies.
Given Tesla's industry-shaking decision in 2014 to make all its patents publicly available and free to use 916 , there might even be a case for Tesla receiving corporate tax-exemption in the United States because its research-based production activities could be considered in the public interest. An easier route to converting your for-profit company to an NFP structure might be to start an NFP foundation that receives 100 percent of the profits from your business, as in the case of multinational food company Newman's Own, which donates all after-tax profits and royalties to the Newman's Own Foundation. <SHIFT TO CH. 2> Alternatively, full or partial ownership 917 of a company can be donated to an NFP trust or foundation, creating what is referred to as industrial or shareholder foundations 918 . In Northern European countries and elsewhere (less so in America 919 ), such a structure has a long and successful history. Prominent companies that are solely or mostly owned by NFP foundations or trusts include:

• Trader Joe's (100 percent -Markus Foundation) • Aldi Süd (100 percent -Siepmann Foundation) 913 http://link.springer.com/article/10.1023%2FA%3A1008605309347. 914 https://hbr.org/2014/09/profits-without-prosperity. 915 To raise capital, in 1997 Nationwide Mutual Insurance had publicly issued 20 percent of its stock in Nationwide Financial Services, a separate legal entity. 916 https://www.teslamotors.com/blog/all-our-patent-are-belong-you. 917 Can relate to voting rights. Minority outside ownership, including on publicly traded platforms, exists for many industrial foundations. 42 percent of companies are not 100% foundation owned, 13 percent have publicly listed shares, and 73 percent of the foundations have a general charitable purpose <REF>. 918 Industrial foundations are defined as "…independent legal entities without owners or members typically with the dual objective of preserving the company and using excess profits for charity" Børsting, Christa and Kuhn, Johan and Poulsen, Thomas and Thomsen, Steen, Long-Term Ownership by Industrial Foundations (January 31, 2016). Available at SSRN: http://ssrn.com/abstract=2725462 or http://dx.doi.org/10.2139/ssrn.2725462 919 "Industrial foundations were common in the US, prior to 1969 tax legislation that effectively prohibited private foundations from owning more than 20% of the voting shares in a business corporation" REF: Fleishman in Hansmen and Thomsen http://economics.mit.edu/files/8783. Other companies-such as Carlsberg, Hershey's, Novo Nordisk, Maersk, and Trelleborg-are partially owned by trusts and foundations, which have less than half of the ownership rights but the majority of voting shares. What is more, the largest ever research project on industrial foundations (focused on Denmark, given its prominent concentration of such structures 920 ) shows that compared to other types of companies, industrial foundations last five times longer, have less employee turnover (including at the management level), pay higher average salaries, and hold less debt. 921 Crucial to these advantages is the fact that they are required to have independent boards rather than directors who have a personal stake in the company's profits, as is common in large, for-profit companies. 922 If converting to an NFP structure is too much of a stretch, you can still move your company in the NFP direction. Consider adding a distribution cap to your company bylaws and writing a social purpose into your corporate charter. Other legal structures (see Chapter 2)-such as employee-ownership, a worker cooperative, a community interest company limited by shares in the United Kingdom, or benefit corporation in certain US states-may serve such a shift to an NFP direction as well as providing economic advantages. The for-profit business community has a great deal to offer emerging NFP enterprises. Business mentorship, board membership, and joint ventures are just a few of the ways business people (and NFP entrepreneurs themselves) can aid with the rise of NFP enterprise. Accelerating the shift to the NFP World requires strengthening and expanding existing legislation. If you work in this field, you can help maintain existing NFP tax exemptions for eligible groups. 923 You can also help expand the types of NFP activity that are eligible for tax exemptions. For many countries, this likely involves clarifying and widening the legal meaning of "charitable purpose," as was done in Australia in 2013 924 . Given the decision to forgo private ownership can be viewed as a socially oriented act of goodwill, we see any NFP with a broadly defined social purpose as worthy of tax exemptions. 920 There are more than 1300 foundations in Denmark. REF: Thomsen, S. (2013) 'Industrial Foundations in the Danish Economy' Center for Corporate Governance. Department of International Economics and Management. Copenhagen Business School, Frederiksberg. 921 http://www.cbs.dk/en/research/departments-and-centres/department-of-internationaleconomics-and-management/center-corporate-governance/news/industrial-foundations-liveforever. 922 REF: 923 E.g., credit unions in the US, and NFPs with unrelated business activities in Australia. 924 Charities Act 2013 -https://www.legislation.gov.au/Details/C2013A00100 Indeed, in Nordic countries, an NFP foundation "running a business for the good of society is considered an acceptable charitable aim." 925 Expanding tax exemptions across the spectrum of enterprises by broadening the criteria for what is required to "serve society's needs" could provide incentive for social entrepreneurs considering the NFP route in typically for-profit industries such as hospitality, construction, energy, and manufacturing. More fundamentally, you can support the right for NFP organizations to engage in trade. This means allowing NFPs to maintain surplus funds from year to year 926 , enabling them to function as any other business would. You can lobby for the rights of NFPs to conduct unrelated business (to fund their primary mission) without jeopardizing their tax exemptions. You can also make the case that NFPs forming business partnerships with other NFPs to create greater market accessibility should be excluded from anti-trust legislation, as long as they are still in accordance with the law, using all of their resources for social benefit. Since your government role confers a degree of public authority, you are well-positioned to raise awareness about the ability of NFPs to generate their own income. If you are working for a finance or business ministry, chamber of commerce, business bureau, or economic arm of government, consciously including NFP businesses (as well as for-profit co-ops and employee owned companies) when describing "the business community" in official communications helps change the story.
The more you publicly acknowledge the contributions NFP businesses make to our economy and collective well-being, the more people will think of NFPs in a new light. Even more proactively, you can establish public awareness campaigns encouraging people to start an NFP business. In most countries, for-profit startups receive significant government support. It is time to develop the equivalent for NFP startups. This can include providing financial backing; coworking spaces; equipment; startup guides; incubation programs; mentoring; legal and accounting assistance; training; platforms for NFPs to connect with customers and supporters; and opportunities to bid for government contracts. Listen closely to startup entrepreneurs, seasoned veterans, and representative groups to learn what is working and what is still needed. If you really want to get ahead of the curve, set up a ministry dedicated to NFP enterprise, just like the government of Indonesia has done for cooperatives. In supporting the rise of NFP enterprise, you create co-evolutionary potential. Given the state's own drive toward entrepreneurialism 927 , many of the resources it creates or makes available to NFPs-such as manuals, training programs, and software-may be equally useful to government agencies. Moreover, the insights gained while championing NFP innovation could prove relevant to governments as both realms share a mission-driven focus. Beyond providing support, you can strengthen the integrity of the NFP legal status. If, in the shift to an NFP economy, there is a watering down of the three principles that differentiate NFPs from for-profits (a social mission-driven mandate, the inability to privatize company profits, and the absence of individual owners), the NFP World will suffer from many of the ills witnessed in the for-profit alternative. Reducing the rate of fraud across both nonprofit and NFP activities is essential. Tax agencies will need greater resources to expand auditing, and regulators will remain crucial for monitoring all aspects of business activities. A strengthening of regulatory requirements (e.g., financial/salary ratio reporting, mandatory 925 http://www.tifp.dk/wp-content/uploads/2011/11/What-Do-We-Know-about-Industrial-Foundations.pdf. 926 Currently not allowed in countries such as Greece. executive compensation committees, labor laws) should parallel the associated rise in expected public accountability, especially for large NFP organizations. New scrutiny, legislation, and protocols will be needed to buttress emerging finance mechanisms, including crowdfunding, cryptocurrencies, peer-to-peer lending, community public offerings, and the bond market. Policymakers should pay particular attention to the rapid advances threatening centralized regulation, such as open-source software, the blockchain (currently providing the operational basis for cryptocurrencies), and Creative Commons licensing. Increased NFP scrutiny builds on the greater accountability many legislators are already trying to bring to the for-profit world. These include efforts to limit tax evasion; strengthen progressive and environmental taxation systems; improve financial literacy among all citizens; and heighten transparency regarding the financial, social, and environmental impacts of business. All of these changes accelerate the shift to a new economy. As a researcher, you can provide pertinent data to promote the momentous transition we outlined in the previous chapter. Research in fields such as behavioral economics and other social sciences is crucial to challenging unhealthy orthodoxies and understanding their underlying assumptions and motivations. As researchers, you play a significant role in directing innovation toward real needs. Exciting research opportunities also exist in the field of NFP enterprise itself. There is inadequate data on the rise of NFP enterprise and the challenges they face, especially data that distinguishes NFP enterprises from traditional nonprofits. There is a particular need for studies comparing FP and NFP businesses in terms of operational efficiencies; productivity; innovation; salary differentials; approaches to decision-making and risk; social impact; collaboration; competition; ecological impact; and market share by sector and country. As a researcher, you can assist by investigating NFP successes and failures in financial, social, and ecological terms. There is endless potential for case studies and comparative case studies around the world. Both specific and aggregate data is needed to influence policymakers, business leaders, and the public. If you can, publish in open-access journals or make your data publicly available in other ways. If you have skills in economic analysis, we would appreciate your assessment of the NFP World proposal outlined here as well as analytically rigorous modeling of the abstractions, phenomena, and scenarios we have described in this book. You may agree it is time to rethink not just mainstream neoclassical theories but also many heterodox theories, insofar as the NFP model breaks the state-versus-market binary that sits at the heart of conventional studies in political economy. You can help disseminate such thinking through conferences; public and media engagements; journals; and textbooks and other pedagogical tools. The most influential avenue may be integrating the NFP model into the teaching of economics and business, including consideration of the complex interplay between consumption choices and well-being. Whether your field is business, commerce, economics, sociology, anthropology, environmental science, history, or psychology-or whether you teach at a high school, university, or online MBA program-consider using the FP/NFP lens to analyze historical and present-day phenomena. The teaching of economics should evolve to become more appropriate, accurate, and relevant for the contemporary contexts we collectively face. Both authors of economic textbooks, interconnectedness. This message carries even more weight when it comes from people frequently idolized by the media in unhealthy ways. As we transition to the NFP World, our different contributions will effect change on different levels. Citizens are changing behaviors relating to their spending and tapping into feelings such as empathy and unrest. Public servants and legislators are establishing the conditions for NFP tax exemptions. Workers, NFP managers, and business leaders are adopting new frameworks for participatory, decentralized business. Advocates are promoting values such as social justice and ecological stewardship. And researchers and journalists are helping to create and spread new constructs, such as the story of interconnectedness. We call these the six layers. Explanation Examples

Our actions, both as individuals and groups All six layers constantly influence each other, and all layers must be actively engaged for there to be a high likelihood of whole system change.
The electric car's failure to emerge in the 1990s 934 provides a perfect example of what can go wrong when some layers are missing. In the 1990s, there were strong feelings of despair and frustration about the state of the planet, and conservation was emerging as a value, but people's behaviors as both individuals and groups were still heavily consumption-oriented. Transportation relied on conditions of cheap oil and policies that were strongly influenced by lobbying from the automotive and fossil fuel industries. Energy infrastructure was still largely conceived in terms of hierarchical and centralized frameworks. The overarching construct was the triumph of humanity's ability to harness nature's potential through ingenuity. The necessary ingredients for systems change were missing on multiple levels. What author Malcolm Gladwell terms "the tipping point" simply could not eventuate, and, as a result, the great potential of the electric car languished. Reports suggest the electric car is finally approaching a global tipping point. 935 When we examine the layers where ingredients were previously missing, we see why: consumption has become a more conscious behavior (Chapter 4). Networked energy and ridesharing services represent the increasingly decentralized frameworks being used by designers, and environmental advocacy has changed the overarching construct to increasingly focus on the fragility of nature in relation to human impact. The missing ingredients remain the political will to develop legislative measures that would accelerate this shift as well as price parity (oil remains cheap). The stage is set for developments supporting these two remaining layers to catalyze a systemic shift in transportation. Not only is the time right for people to embrace the NFP story since the key ingredients now exist across each layer, but it is also becoming obvious that no one's contribution is more important than any one else's in driving this systemic change. Because the layers are interconnected and complementary, all are necessary. We need one another to bring the NFP World into existence. Anything we do, across any level, reinforces all other actions in the system. When enough of us act in a certain way, a pattern is created. Each one of our actions is either reinforcing the for-profit story and patterns to some extent or telling a new story and helping to strengthen the new NFP World pattern. As author Charles Eisenstein points out, at present, no one can live in this new story 100 percent of the time . 936 We live in both old and new stories simultaneously. Most of us cannot fully align our lifestyles with this new story yet, but there is a definite mass movement in that direction. And the momentum is accelerating. Given your unique background and connections within the wider world, how will you use your talents to bring the NFP World story closer to fruition? What behaviors can you change that will encourage others to follow your lead? What are you feeling that might motivate you to act even more passionately for social change? What can you create that will inspire hope? What assumptions will you question? What values will motivate your choices? And what story of human nature will you seek to embrace? The Not-for-Profit Way 934 Brought to wider attention by the 2006 documentary 'Who Killed the Electric Car?' 935 http://www.businessinsider.com/the-2020s-could-be-the-decade-of-the-electric-car-2016-2. 936 REF. A healthy economy thrives on circulation. In such an economy, money, resources, and value constantly flow to where they are needed, creating shared wealth. We can realize such an economy by shifting our central mode of businesses to NFP enterprise. In that way, money (including profit) is constantly cycled through the economy in service of purpose, ensuring human needs are adequately met while eradicating the conditions of false scarcity and culture of consumerism driving overconsumption. These bold claims have required us to reconsider our understanding of profit and recognize its potential to be either generative or destructive, depending on the circumstances. This more realistic approach also acknowledges the massive potential inherent in an NFP World, together with the significance of clearly demarcating the differing wider consequences of the FP and NFP forms of business 937 . Let us take a moment to review the argument presented in this book. We have discovered an NFP structure enables far more activities than charity, and successful businesses-across all types of industries-can be run as not-for-profit. We have realized coops and social enterprises are umbrella structures and that it is valuable to learn whether a cooperative or social enterprise activity is run as FP or NFP, given the former facilitates wealth extraction while the latter supports the principle of wealth circulation. When we see the world through the FP/NFP lens, we tend to assign less blame to "the market," "big business," "corporations," "private banks," and "sociopathic CEOs" for the state of our world. Instead, we realize the essential qualifier for each of these important critiques is "for-profit." Without this distinction, it has been difficult to develop comprehensive macroeconomic alternatives, given that it is the for-profit market economy, for-profit corporations, for-profit CEOs, for-profit banking, and, perhaps most importantly, the for-profit story that need changing. Until now, "for-profit" has been as invisible to us as the water is to a fish. Most of us were raised with the for-profit story taught as the entire story, with the underlying assumptions that all businesses must be run in an FP way and that we have to ruthlessly compete to get ahead. This isn't some huge conspiracy-it's merely the ideology and assumption of our time. <pq>The NFP business model proves the profit motive is not necessary for business efficiency. 938 <pq> The existence of new financing mechanisms and falling startup costs combine to nullify the rationale that businesses must start out as for-profit enterprises. Notfor-profit business offers a model for corporate sustainability that creates real value through its purpose-driven focus. It also increases employee and community participation, promotes greater ecological sensitivity, and drives the circulation of money and resources throughout our economy.
We have not romanticized NFP business but rather have highlighted its vulnerability to the shortfalls of traditional nonprofits (e.g., fraud, bureaucracy, inefficiency, and mission drift). We have, however, witnessed how NFP enterprises are less susceptible to these shortfalls than traditional nonprofits, thanks to their structure. Particularly in the context of the NFP World-in which the NFP ethic has become paramount-this potential problem would shrink even further. We have explored the grave need for an economic alternative given that FP enterprise and the for-profit story are at the root of our economic, social, and environmental crises. We have 937 Cooperative federalism. 938 Especially by basic agency theory. seen how the for-profit system has a tendency to exacerbate economic inequality and environmental devastation, and any reformation of capitalism will ultimately prove inadequate since its very nature requires the extractive siphon. We have discovered how the rising NFP ethic worldwide is setting the stage for an economic evolution. And we have seen the many advantages NFP enterprises hold in the marketincluding being more financially efficient and affordable, having an increased capacity for innovation, and better aligning with the more ethical market and more purpose-motivated workforce of the twenty-first century. We have investigated how a global economy in which NFP companies constitute the primary business mode can function effectively. We illustrated how this one shift enables four underlying mechanisms to emerge that in turn create a system of abundance within ecological limits. Since NFP finance eliminates the necessity for debt to constantly expand, other seemingly intractable structures and institutions (such as compounding interest, money creation, limited liability, "the corporation," corporate personhood, and intellectual property) become irrelevant or even benevolent in an NFP economic framework. Shifting to an NFP paradigm feels like less of a leap when you realize how familiar such a system could be while at the same time being so fundamentally different. We explored the seemingly inevitable fall of the for-profit system and journeyed through a scenario for transitioning to the NFP World. There are many ways we can each accelerate the evolution to an NFP World. Not only do we all have roles to play, but our very success relies on each of us playing these parts. We have shared these ideas with you in the hope that you will become an ambassador for this new vision. We ask that you share the parts that most resonate for you as well as your insights regarding the parts that do not. This vision has something for everyone. It can unite a diverse range of politics, ideologies, and worldviews, from the most idealistic to the most pragmatic. The NFP World appeals to those who:

• yearn for the expansion of social services and safety nets because NFP enterprises prime the wealth circulation pump, ensuring people's needs are fully met; • desire greater freedom and less government influence in society and their lives, or those who distrust big organizations (in the NFP World, wealth and power are decentralized, and the system operates with interconnected efficiency. State control and the need for taxation have decreased, and institutions are highly accountable to the wider community. ); • believe in the power of business and markets as a force for good, value profit, and feel individual choice and competition are needed to ensure the efficient allocation of resources; • crave status and recognition as social entrepreneurs, and their financial supporters are celebrated as true heroes in the NFP World; • wish to encourage technological innovation (the NFP model spurs progress faster than ever since competition occurs within a wider context of genuine collaboration); • are concerned about the well-being of the planet and future generations, thanks to the inbuilt paradox of enough and associated reductions in per capita consumption; and • are simply tired of the daily grind and eager to enjoy the path to rest, leisure, and greater well-being promised by the NFP World. viii Of course, much peer-to-peer lending happens within a for-profit context and investors are just looking for a financial return on investment. However, we are focusing on peer-to-peer lending in the NFP context. ix All bonds are basically loans that investors make to companies and governments (Ref: Personal Finance book, Biedenweg, p. 37). x Other ways to raise startup finance for NFPs include: revenue-based finance, direct public offerings, refundable membership shares (which involve no equity or means to make a capital gain); social investment funds; and community development funds. xi To learn about other kinds of capital-raising strategies available to NFPs, see How on Earth's sister book, The Not-for-Profit Handbook. xii The other 9% is labeled as 'other revenue' in their annual report. xiii See for instance: Cooperatives and the Sustainable Development Goals, UK Cooperative economy , Coops Europe, Consumer Co-operatives Worldwide website xiv In consumer co-ops, there are also generally provisions which prohibit trading member shares in the co-op (non-transferable shares) or prohibiting members from profiting from selling shares in the co-op (limited transferability of shares). xv Credit unions can be legally categorized as for-profit or not-for-profit depending on local legal frameworks. In the U.S., for instance, all credit unions are legally not-for-profit, while in Canada all credit unions are legally categorized as for-profit (although they still act like NFPs). We consider all credit unions to be NFP, as no one makes a private gain from them. xvi In addition to the NFP business models mentioned in this chapter, here's a fuller (but still not comprehensive) list of NFP models found around the world: non-equity housing co-ops, community land trusts, mutual benefit corporations, community benefit societies, community development corporations, community investment corporations, mission-controlled corporations, social enterprise cooperatives, restorative corporations, common good corporations, community advancement co-ops, non-distributing purchasing co-ops, nondistributing producer co-ops, NFP social franchises, NFP disability enterprises, international associations without lucrative cause, common profit organizations, gift-based business and barter.
Communities and people living subsistence lifestyles, who focus on meeting their own needs and do not typically participate in the formal market, are also considered to be part of this NFP realm (referred to in the figure below as 'non-trading self-sufficiency'). xvii Freelancers and self-employed persons who embody the 'ethic of enough' should probably be in the Zone of NFP Enterprise, too, but there's no formal way of defining a 'non-acquisitive freelancer' at this point, so we have left it out of the depiction. xviii We know that Harry Shutt, for instance, has also explored this and made important contributions in his book, "Beyond the Profits System". For better or worse, we weren't aware of his book until the final editing stage of our book, so we weren't able to incorporate much of the wisdoms put forth in his writings. xix See, for example: Urban Institute, Salamon, Casey?, Shutt xx We will explain this more fully in the 'Incredible Inequality' section of the chapter. xxi Companies report their financial positions every 3 months, known as quarters. xxii Some early observers, like Marx, noted many of the internal contradictions of the capitalist system, including its tendency to create inequality. xxiii And it's likely to be more extreme now, as those numbers are from 2008.

xxiv This trend has spurred social responses, such as Go Home on Time Day, a campaign that invites employees to pledge to leave work on time on one day each November, as well as calculating how much unpaid overtime is being donated to the employer -see: www.gohomeontimeday.org.au xxv Of course this is not limited to for-profit companies, but it is an effect of the for-profit way of organizing the economy. xxvi Small, family-owned businesses xxvii It is too large for us to show in this book, but we encourage readers to view it online at: http://www.motherjones.com/files/legacy/news/feature/2007/03/and_then_there_were_eight. pdf xxviii Furthermore, many corporations are lobbying to tilt the Internet in their favor. They are lobbying for policies that will make companies pay fees in order to have more Internet reach (Ref: Guardian article). Along the same lines, big telecom companies in the U.S. for instance, lobby to keep hundreds of cities from using their high-speed fiber cables to provide Internet to their citizens at affordable prices (Ref: Motherboard article). xxix Lobbying refers to the legal act of trying to influence decisions made by government officials. xxx Companies on the stock market that seek to raise shareholder value in ethical ways are an exception to this general rule; however, when it comes to making decisions about tradeoffs between shareholder value and environmental or social concerns, the profit motive and the legal structure of these companies pushes them to prioritize shareholder value. xxxvi In updating the draft of this book, we found that Gates went from having $80.1 billion in 2015, to $87.4 billion in 2016. xxxvii A complex system is different from a complicated system. A complicated system is made up of many different parts and it's not very clear how it works, but it can be taken apart and put back together. A computer, for instance, is a complicated system. Whereas a complex system, like a living organism, cannot simply be taken apart and put back together, because all the parts are so interdependent. xxxviii While it remains obvious that crime and violence disproportionately affect the poorest in society. xxxix Often referred to as minimalism or voluntary simplicity, which are both about doing more with less. xl See Human Development Index: http://hdr.undp.org/en/content/human-development-indexhdi; Genuine Progress Indicator: http://rprogress.org/sustainability_indicators/genuine_progress_indicator.htm; Happy Planet Index: http://www.happyplanetindex.org/; and Social Progress Index: http://www.socialprogressimperative.org/data/spi xli As a cohort, the Millennial Generation was born between the early 1980s and the early 2000s. They are the first generation to begin their adult lives in the new millenium. xlii MBA refers to the Master of Business Administration professional degree. xliii We are certainly not the first to look at the evolution of business models over time, but we are probably the first to say that trends are leading in a NFP direction. We see the evolution of business lining up with the evolution of global society as described by Spiral Dynamics, a theory put forth by Clare Graves, which is why we've chosen this specific order of colors (see, for instance: The Five Levels of Understanding, by Natasha Todorovic and Chris Cowan). xliv After adjusting for inflation. xlv These countries are Australia, Belgium, Brazil, Canada, the Czech Republic, France, Israel, Japan, Kyrgyzstan, Mexico, Mozambique, New Zealand, Norway, Portugal, Thailand, and the United States. xlvi The GDP contribution of the nonprofit sector in all 8 countries for which longitudinal data are available outpaced overall economic growth. xlvii Not all NFP enterprises necessarily have all of the advantages we explore here, but they are unique to the not-for-profit realm. These advantages also vary from place to place. xlviii At least in most 'developed' countries. xlix This commercial aired in the U.S. in May 2013 l The Green Bay Packers is the exception, as an NFP member-'owned' team. li The study indicates that the sectors with the highest concentration of purpose-driven employees are education, nonprofits, agriculture/forestry/fishing, entertainment, and

129  Greyston website (2018) 'Mission and History' page. (https://greyston.org/about-us/mission-andhistory/) 130 Kickul, J. & Lyons, T.S. (2012) Understanding Social Entrepreneurship: The Relentless Pursuit of Mission. New York, NY: Routledge.
129

304  (Ref: Gallup 2013) 305 (Ref: Bruce Levine article, How Stress Influences Disease, Incidence and Prevalence of Chronic Disease) 306 (Ref: Easterlin) 307 (Ref: 'Why capitalism makes us sick' talk by Gabor Maté, and Andy Fisher) 308 (Ref: Newsweek article linking suicide epidemic to societal problems)

304

336  (Ref: Dick Smith's book) 337 (Ref: Richard Heinberg, Peak Everything) 338 (Ref: Pacific Institute) 339 (Ref: Nature09440) 340 (Refs: Guardian article, Earth Island Journal) 341 (REF: Dick Smith's book)

336

348  (Ref: Impacts of Biodiversity Loss on Ocean Ecosystem Services) 349 (Ref: Living Planet Report, 2012) 350 (Ref: Ibid) 351 (Ref: Ibid) 352 (Ref: UNEP; NASA) 353 (Ref: NASA website)

348

403  (Ref: Information Asymmetry and Power in a Surveillance Society?) 404 (Ref: Working for the Few) 405 (Ref: Revolving Door Lobbyists) 406 (Eisler, K. Hired Guns: The City's Top 50 Lobbyists, 2007) 407 (Ref: Revolving Door Lobbyists and Interest Representation) 408 (Ref: Transparency International report)Other examples of how extreme concentrated power is negatively impacting democracy include the current TransPacific Partnership (TPP) and Transatlantic Trade and Investment Partnership (TTIP), trade agreements that have been negotiated behind closed doors, away from public scrutiny. Large transnational corporations are pulling the strings in these agreements that seek to, among many other things, allow corporations to take governments to private arbitration courts when they feel a government policy or decision is impacting their profit margins.410  This clause in the trade agreements is called the Investor-State Dispute Settlement (ISDS) provision and it's nothing new -ISDSs have already caused a lot of damage, especially for Canada, which has been sued by corporations under the ISDS provision more than any other country.411

403  (Ref: Information Asymmetry and Power in a Surveillance Society?) 404 (Ref: Working for the Few) 405 (Ref: Revolving Door Lobbyists) 406 (Eisler, K. Hired Guns: The City's Top 50 Lobbyists, 2007) 407 (Ref: Revolving Door Lobbyists and Interest Representation) 408 (Ref: Transparency International report)Other examples of how extreme concentrated power is negatively impacting democracy include the current TransPacific Partnership (TPP) and Transatlantic Trade and Investment Partnership (TTIP), trade agreements that have been negotiated behind closed doors, away from public scrutiny. Large transnational corporations are pulling the strings in these agreements that seek to, among many other things, allow corporations to take governments to private arbitration courts when they feel a government policy or decision is impacting their profit margins.410  This clause in the trade agreements is called the Investor-State Dispute Settlement (ISDS) provision and it's nothing new -ISDSs have already caused a lot of damage, especially for Canada, which has been sued by corporations under the ISDS provision more than any other country. 403  (Ref: Information Asymmetry and Power in a Surveillance Society?) 404 (Ref: Working for the Few) 405 (Ref: Revolving Door Lobbyists) 406 (Eisler, K. Hired Guns: The City's Top 50 Lobbyists, 2007) 407 (Ref: Revolving Door Lobbyists and Interest Representation) 408 (Ref: Transparency International report)Other examples of how extreme concentrated power is negatively impacting democracy include the current TransPacific Partnership (TPP) and Transatlantic Trade and Investment Partnership (TTIP), trade agreements that have been negotiated behind closed doors, away from public scrutiny. Large transnational corporations are pulling the strings in these agreements that seek to, among many other things, allow corporations to take governments to private arbitration courts when they feel a government policy or decision is impacting their profit margins.410

403  (Ref: Information Asymmetry and Power in a Surveillance Society?) 404 (Ref: Working for the Few) 405 (Ref: Revolving Door Lobbyists) 406 (Eisler, K. Hired Guns: The City's Top 50 Lobbyists, 2007) 407 (Ref: Revolving Door Lobbyists and Interest Representation) 408 (Ref: Transparency International report)Other examples of how extreme concentrated power is negatively impacting democracy include the current TransPacific Partnership (TPP) and Transatlantic Trade and Investment Partnership (TTIP), trade agreements that have been negotiated behind closed doors, away from public scrutiny. Large transnational corporations are pulling the strings in these agreements that seek to, among many other things, allow corporations to take governments to private arbitration courts when they feel a government policy or decision is impacting their profit margins. 403  (Ref: Information Asymmetry and Power in a Surveillance Society?) 404 (Ref: Working for the Few) 405 (Ref: Revolving Door Lobbyists) 406 (Eisler, K. Hired Guns: The City's Top 50 Lobbyists, 2007) 407 (Ref: Revolving Door Lobbyists and Interest Representation) 408 (Ref: Transparency International report)

403

438  (Ref: UNICEF) 439 (Ref: World Food Program) 440 (Ref: World Water Day (UN)) 441 (Ref: In Ethiopia; In Cambodia; In Myanmar; In Indonesia; Kenya) 442 (Ref: World Bank report) 443 (Ref: OECD report)

438

456 (Ref: Maclurcan and Radywyl) 457 (Ref: Ibid) 458 (Ref: Henrich, 'The weirdest people in the world') 459 (Ref: Philip Zimbardo, Psychology of Evil TED Talk)

463  (Ref: BioPowerSystems website) 464 (Ref: Baltic Biogas Bus project website) 465 (Ref: Wikipedia article) 466 (Ref: Desmond Tut, Templeton Prize 2013 video) 467 (Ref: Desmond Tutu talk 2007 Semester at Sea video)

463

468  (Ref: Rifkin, Empathic Civilization) 469 (Ref: Giacomo Rizzolatti, Mirror Neurons) 470 (Ref: Ibid) 471 (Ref: Wilkinson and Pickett, The Spirit Level) 472 (Ref: Ibid)

468

509  (Ref: Forbes article) 510 (Ref: The Emergence and Development of Social Enterprise Sectors) 511 (Ref: Encore Entrepreneurs report) 512 (Ref: B Corps homepage) 513 (Ref: B Corps Our History page) 514 (Ref: 'History' page Balance Sheet for the Common Good)

509

and Economic Impact of Food Co-ops. Iowa City, IA: NCG) 575 (Ref: Nager's supply-chain) 576 (Ref: Nager's website) 577 (Ref: http://www.monmouthshiregreenweb.co.uk/rde-ltd-eco-home-centre)

which in part is because they don't have to compensate for privately distributed profits. Obamacare might have more supporters if the program only allowed NFP insurance and healthcare providers to receive public funds.
Another clear illustration of the higher ethical expectations to which society holds NFPs is the public outcry about nonprofit CEOs making large salaries.588  Ref: Atlantic article 589 (Ref: Business Insider article, The Center for Investigative Reporting) 590 (Ref: Wall Street Journal article) 591 (Ref: Health Pocket article, Obamacare Healthcare Facts) 592 (Ref: Bloomberg Business article)

which in part is because they don't have to compensate for privately distributed profits. Obamacare might have more supporters if the program only allowed NFP insurance and healthcare providers to receive public funds. Another clear illustration of the higher ethical expectations to which society holds NFPs is the public outcry about nonprofit CEOs making large salaries.588

which in part is because they don't have to compensate for privately distributed profits. Obamacare might have more supporters if the program only allowed NFP insurance and healthcare providers to receive public funds. Another clear illustration of the higher ethical expectations to which society holds NFPs is the public outcry about nonprofit CEOs making large salaries. 653 (Ref: Harvard Business Review articles 1 and 2) 654 (Ref: Ref: Joe's TEDx Talk) 655 (Ref: Donnie's emails with Joe) compromise. Philanthropy; taxation; NFP earned income; government earned income; scholarships and sliding scale fees; investments in NFPs; investments in the commons; public works; welfare payments; insurance payments; compensation payments; penalties; low income finance; licenses; rent paid to NFP entities Semi-

806 REF: Rushkoff. 807 REF: platform cooperativism movement. 808 REF: Joshua Pearce's research on the cost of producing household items using a RepRap. 839 Ref: Ibid 840 Ref: Minsky? xxxv  First used by John Erhenfeld in <1999?>. xxxv

Salamon, L., et al., (2013), The State of Global Civil Society and Volunteering: Latest Findings from the Implementation of the UN Nonprofit Handbook, Baltimore, MD. Bupa (2015), "Longer, Healthier, Happier Lives: Annual Report 2014," http://www.bupa.com/annualreport/pdf/bupa_full_report.pdf. Mozilla (2014), "Mozilla Foundation and Subsidiaries -2013 Audited Financial Statements," https://static.mozilla.com/moco/en-US/pdf/Mozilla_Audited_Financials_2013.pdf. By wider community, we refer to different levels of community, including neighborhoods, religious or other social communities, towns, cities, nations, bioregions or the entire planet. Different NFPs aim at meeting the needs of different communities, but the important aspect is that they are not set up to enrich a few individuals; there is always some sort of community at the heart of NFPs

In many places, nonprofit organizations refer to excess funds at the end of any given financial year as 'surplus' rather than profit. Within NFP enterprise, we use the terms surplus and profit interchangeably irrespective of the level to which income is self-generated. The profit motive is a central concept in capitalism, which refers to economic actors being primarily motivated by financial gain. Hardoon, D. (2015), "Wealth: Having It All and Wanting More," Oxfam, http://hdl.handle.net/10546/338125. Wilkinson, R. G. and Pickett, K., (2009), The Spirit Level: Why Greater Equality Makes Societies Stronger, Bloomsbury Press, New York. Piketty, T. and Goldhammer, A., (2014), Capital in the Twenty-First Century, The Belknap Press of Harvard University Press, Cambridge Massachusetts. Midler, P., (2011), Poorly Made in China: An Insider's Account of the Tactics Behind China's Production Game, Wiley, Hoboken, N.J.

Andersen, E., "21 Quotes from Henry Ford on Business, Leadership and Life," Forbes, May 31, 2013, http://www.forbes.com/sites/erikaandersen/2013/05/31/21-quotes-from-henry-ford-on-businessleadership-and-life/. Wilkinson, R. G. and Pickett, K., (2009), The Spirit Level: Why Greater Equality Makes Societies Stronger, Bloomsbury Press, New York. See, for instance, the potlatch of indigenous communities of the Pacific Northwest, in which individuals of high social standing hold feasts or ceremonies for the entire community, (more information at: Encyclopedia Britannica 'Potlatch'). Wolf, E. R.,(1982), Europe and the People without History, University of California Press, Berkeley. Sometimes spelled 'whitiko', 'windigo' or 'wendigo'. Levy, P., (2013), Dispelling Wetiko: Breaking the Curse of Evil, North Atlantic Books, Berkeley, Calif.

Botsman, R. and Rogers, R., (2010), What's Mine Is Yours : The Rise of Collaborative Consumption, Harper Business, New York. Wilkinson, R. G. and Pickett, K., (2009), The Spirit Level: Why Greater Equality Makes Societies Stronger, Bloomsbury Press, New York. Foster, W. & Bradach, J. L. (2005) 'Should Nonprofits Seek Profits? ', Harvard Business Review, February Issue. BRAC (2014) 'BRAC at a glance'. [http://www.brac.net/partnership?view=page]

Korngold, A. (2010) 'The Nonprofit Financial Model Never Worked; Here's a New Model that Does', Fast Company, October 27. (https://www.fastcompany.com/1698097/nonprofit-financialmodel-never-worked-heres-new-model-does)

100  YHA. (2015) Our Impact: A look back at a year of positive impact. Derbyshire, UK: YHA. (https://www.yha.org.uk/sites/default/files/YHA-Impact-Review-2015. pdf) 101 YHA website. (2018) 'About' page. (http://www.yha.org.uk/about-yha/yha-today)

McGregor, J. (2015) 'One Big Reason REI Can Decide to Skip Black Friday', The Washington Post, October 28. CarShare website (2018) 'Membership FAQs' page. (http://carshare.org/membership-faqs/)

Blue Star Recyclers website (2017) 'A 100% Solution'. (http://www.bluestarrecyclers.org/solution.htm)

Blue Star Recyclers (2017) 2016 Annual Report, Colorado Springs, CO: Blue Star Recyclers. (http://www.bluestarrecyclers.org/_images/mission-jobsdisabilities/Annual%20Report%202016.pdf)

Wilkinson, R.G. & Pickett, K., 2009

Glaeser, E. (2003)  The Governance of Not-for-Profit Organizations. Chicago, IL: University of Chicago Press)

Glaeser, 2003

Thompson, D. (2005) 'Building the Future: Change, challenge, capital, and clusters in Italy's market leader', Cooperative Grocer Network Magazine, November -December. (https://www.grocer.coop/articles/building-future)

Robehmed, N. (2013) 'A New Nonprofit Model: Meet the Charitable Startups', Forbes, December 16. (https://www.forbes.com/sites/natalierobehmed/2013/12/16/a-new-nonprofit-model-meet-thecharitable-startups/#7e8ce8787aab)

138  Lectic Law Library website (2018) 'State Interest Rates and Usury Limits' page. (https://www.lectlaw.com/files/ban02.htm)

Jeffries, A. (2014) 'If you back a Kickstarter project that sells for $2 billion, do you deserve to get rich? ', The Verge, March 28. (http://www.theverge.com/2014/3/28/5557120/what-if-oculus-riftkickstarter-backers-had-gotten-equity)

Ocean Cleanup website (2018) 'Foundation Details' page. (https://www.theoceancleanup.com/foundation-details.html)

Nonprofit Finance Fund website (2018) 'Financing' page. (http://www.nonprofitfinancefund.org/financing)

Glas Cymru website (2015) 'Company information' page. (http://www.dwrcymru.com/en/companyinformation/glas-cymru.aspx)

National Center for Charitable Statistics (2018) 'National Taxonomy of Exempt Entities'. (http://nccs.urban.org/classification/national-taxonomy-exempt-entities)

The Editors (2011) Does My Nonprofit Need to Pay Tax? Understanding Unrelated Business Income Tax, Nonprofit Quarterly, December 25. (https://nonprofitquarterly.org/2011/12/25/does-mynonprofit-need-to-pay-tax-understanding-unrelated-business-income-tax/)

146  Canada Customs and Revenue Agency (2001) IT-496R Income Tax Act: Nonprofit Organizations, August 2. Community Enterprise Law website (2018) Nonprofit organizations; 'Nonprofits without tax exemption' section. (http://communityenterpriselaw.org/forming-community-enterprise/nonprofitorganizations-in-the-sharing-economy/)

148 U.K. government website (2018) 'Charities and Tax' page. (https://www.gov.uk/charitiesand-tax/tax-

reliefs)149  Canadian Revenue Agency website (2018) Income Tax Act (R.S.C., 1985, c. 1 (5 th supp.)) (http://laws-lois.justice.gc.ca/eng/acts/I-3.3/

section-149.html) 150 Australian Tax Office website (2018) Income tax exempt organisations.
(https://www.ato.gov.au/non-profit/your-organisation/do-you-have-to-pay-income-tax-/income-tax-

exempt-organisations/) 151 Blue Star Recyclers (2016) 2015 Annual Report, Colorado

Springs, CO: Blue Star Recyclers. 152 Klein, N. (2014) This Changes

Everything. Camp Hill, PA: Simon & Schuster. 153 Schenk, M. (2017) 'The $1 billion bank benefit', CUNA News online. (http://news.cuna.org/articles/112361-the-1-billion-bank-benefit)

USAA website (2018) 'Financial strength' page. (https://www.usaa.com/inet/pages/about_usaa_corporate_overview_financial_strength)

Fortune 500 list (2015) (http://fortune.com/global500/2013/robert-bosch-gmbh-131/)

Bosch website (2018) 'Robert Bosch Stiftung' page. (https://www.bosch.com/ourcompany/sustainability/society/robert-bosch-stiftung/)

163  TROSA website (2015) 'About us' page. (http://www.trosainc.org/about-us)

De Kringwinkel's website (2015) 'English' page. (https://www.dekringwinkel.be)

Grameen Shakti website (2015) (http://www.gshakti.org/index.php?option=com_content&view=category&layout=blog&id=54&Itemid =78)

Akhuwat website (2016) 'Impact' page. (http://www.akhuwat.org.pk/overview/#impact)

Deloitte Yousuf Adil Accountants (2016) Akhuwat Financial Statements for the Year Ended June 30, 2016. (http://www.akhuwat.org.pk/wpcontent/uploads/2017/10/AuditReportfortheyearendedJune302016.pdf)

(Ref: CWEC website)

(Ref: CUNA Mutual report)

(Ref: CUNA Mutual report, US Census)

(Ref: CUNA powerpoint)

(Ref: CUNA powerpoint)

(Ref: Firefighters First Credit Union website)

(REF: CUNA powerpoint slide 13)

(Ref: India Stock Market Law and Handbook)

(Ref: other Ellen Brown article)

(Ref: CIC regulator)

(Ref: Social Cooperatives in Greece; Social Co-operatives in Italy). Salamon, 2013

(Ref: America Beyond Capitalism)

(Ref: SCVO report)

(Ref:  The Not-for-Profit Sector in Australia: Fact Sheet)

(Ref: Wellesly Institute report). (Ref:  Green White Space's website)

(Ref:  Harari -primary sources?) (Ref: Harari, A Brief History of Humankind online course; Storytelling Species article (primary sources: Gazzaniga; Gottschall?)) (Ref: Extreme Working Hours paper)

(Ref: International Labour Organisation Global Wage Report 2014/15)

(Ref: McKinsey Global Institute report). (Ref: International Labour Organisation World Employment Social Outlook)

(Refs: CNN (primary source: World Bank?). (Ref: Investopedia (primary source?)) (Ref: Smith, Adam. "On the Division of Labour," The Wealth of Nations, Books I-III. New York: Penguin Classics, 1986, page 119)

(Refs: Frans De Waal; Emma Seppala)

(Refs: Piff & Keltner, 2012; Piff & Keltner, 2010; New York article; Daniel Goleman, 2005, Sydney Morning Herald article)

(Ref: CNBC report, Tax Policy Center report)

(Ref: David Harvey talk)

(Ref: Capgemini World Wealth Report 2015, Business Insider report on Capgemini report)

(Ref: Capgemini World Wealth Report 2015, Business Insider report on Capgemini report)

(Ref: Capgemini World Wealth Report 2015, Business Insider report on Capgemini report)

(Ref: Congressional Budget Office, International Labour Organisation Global Wage Report 2014/15)

(Ref: Stoll, 2008). (Ref: Margrit Kennedy)

(Ref: RT article about McKinsey Global Institute study)

If this all sounds confusing, don't worry. It is. There are lots of resources on the Internet that explain fractional reserve banking, if you're interested. Perhaps it's worth mentioning that we used to be very skeptical about fractional reserve banking ourselves. (Ref:  The $8 Pedestal Fan)

(Ref: Global Supply Chain Quality Management). (Ref: Poorly Made in China by Paul Midler?, Global Supply Chain Quality Management?). (Ref: Poorly Made in China by Paul Midler)

Ref: Ibid?, Global Supply Chain Quality Management? (Ref: Sustainable Electronics article? ; Bodies of Planned Obsolescence? ; Environmental Impacts of Planned Obscolencence?) (Wilkinson & Pickett, 2009)

(Ref:  The Chalice and the Blade)

(Ref: Critiques and Contentions article)

(Refs: The Chalice and the Blade)

(Ref: Bloomberg article)

(Ref:  professional cuddlers and rent a friend)

Ref: Common Rights to Land in England, English Peasantry and Common Fields

(Ref:  The Australia Institute report)

(See: No Leave, No Life)

(Ref: Gallup)

(Ref: Ken Robinson talk)

(Ref: Leiter & Maslach, Handbook of Health Psychology, 2001)

(Ref: How Stress Influences Disease, Incidence and Prevalence of Chronic Disease, 'Why capitalism makes us sick' talk by Gabor Maté)

(Ref: Market Watch)

(Ref: Tsai & Scomegna)

(Ref: Government data; FBI data)

(Ref: April Short article)

(Ref: TIME article)

(Ref: TIME article)

(Ref: Punitivity, p. 67)

(Refs: Forbes article))

(Ref: Guardian article, Open Democracy article)

(Ref: Bloomberg article)

(Refs: find primary refs from CorpWatch article)

(Ref: Eurozone Profiteers article)

(Ref: Guardian article)

(Ref: Guttmacher Institute)

(Ref: Scientific American article)

(Ref: Graedel article)

(Ref: Vitali, Glattfelder & Battiston)

(Ref: Ibid)

(Ref: Washington Post article)

(Ref: Gabel M. & Bruner H., Global Inc.: An Atlas of the Multinational Corporations, New York, 2003)

(Ref: Amy Cortese article) 'Local community' in this book refers to the level of a village, town, or city; or a part of a city. In some cases, it could be a cluster of smaller areas within a city, or a cluster of villages, towns or cities that share the same bioregion. (Ref: Time article)

(Ref: Ibid)

(Ref: New Scientist article)

(Ref: Politifact calculations)

(Refs: Ostrom, 2009; Underhill, 2009)

(Ref: Erehnfield article)

(Ref: Wall Street Journal)

(Ref: Stuart Hill, The Peckham Experiment into Health Ecology: An old study with modern implications)

(Ref: Yuval Harari "Sapiens"; Eisenstein "Ascent of Humanity"; Eisler "Chalice and the Blade")

(Ref: Gladwell, "David and Goliath")

(Ref: Max-Neef's needs)

(Ref: SSIR article)

The unrelated business, subsidiary model means there is some extra energy is needed to ensure the fulfilment of social needs -money needs to be transferred over from a separately governed company, but it's still a lot more efficient than the FP-to-NP via the Government flow of capital and the Nonprofit Enabler effect. http://www.icnl.org/research/journal/vol12iss4/art_5.htm and http://fivethirtyeight.com/datalab/what-percentage-of-state-lottery-money-goes-to-the-state/

A much more detailed exploration of a possible transformation pathway from the current forprofit economy to the NFP World is outlined in the next chapter. Less than 1% of healthcare budgets in the U.S./Australia, for example. If labor is not spread evenly, a maximum number of hours of paid work might need to be instituted. This does not consider domestic unpaid labor, which is likely more. NEF paper on 21 hour work-week

(Ref: Schor

For example, basic income experiments…

<E.g., the data on sleep and napping>. Not sure we need refs here -isn't it just common sense? Wilkinson and Pickett's book The Spirit Level shows just how far more equality alone can contribute to better physical and mental health outcomes. Think of what open access of movies has done for entertainment. There are many parts of the caring/social economy that you can't automate. Additionally, there is the advantage of retained earnings and federal support for credit unions to assist with 'runs on the bank'. (Ref: Lectic Law Library)

https://hatchoregon.com/im-seeking-funding/raise-capital-public-offerings/

No matter who owns a bond, the NFP company or government still has the original money raised (it hasn't been extracted via an IPO to original founders, for example).
For example, fluctuations in currency or interest rates, although the likelihood of these fluctuations is reduced with the re-localization of trade. http://positivenews.org.uk/2014/positive_perspective/15042/lots-less-solve-incomeinequality/. 731  In countries such as the U.S., in which unrelated business income remains taxed, this is the only way the income from such subsidiaries could qualify for tax

exemption.732  Including, amongst others, business income taxes, payroll taxes, commercial land taxes and goods and services taxes). Korten: When Corporations Rule the World; Klein, N: No Logo. Corporate personhood since 1886, for instance: https://en.wikipedia.org/wiki/Santa_Clara_County_v._Southern_Pacific_Railroad_Co. See, for example, The Corporation. And analyses on Citizen's United. The precautionary principle refers to the idea that we should choose not to do something if it might entail significant risks for people and/or planet. These illustrations are not meant to be accurate, but just to give an idea of the kind of changes that happen in the transition from the current economy to the NFP World. Although there will always be limits to full circularity due to entropy -this is why we also need to reduce consumption. In the for-profit world, most international migration is economically motivated (Ref:Population and  Society,. There are some ways around this, as shown by Iceland, where bananas are currently grown in greenhouses, using geothermal heat. But it is hard to imagine this being done in a sustainable way for most imported produce in the world. This is due to the wealth extraction siphon of capitalism, which entails unacceptable social and ecological consequences. This will, at some point, lead to capitalism's superseding. If this seems hard to imagine, just look at what happened in the US economic crisis of 2008, which left millions of people unemployed and homeless. However, the debt-to-GDP ratio is increasing, given GDP has dropped so significantly and government debt is rising so fast in many parts of the world. In our present world, governments are already distorting unemployment, efficiency and price index data (Ref: Shutt). This struggle has already started, with debates about net neutrality (Ref: ). Proposals like the Pluralist Commonwealth (Alperovitz); reinvigorating the Commons (Bollier); Resource-Based Economy (Fresco), and the Circular Economy (Ellen MacArthur Foundation). Contemporary examples of this are movements like RIP Medical Debt and Rolling Jubilee. Japan currently charges a 55 percent death tax, so this is not as drastic as it might sound (REF). REF: Steve Schein. For a contemporary example of this, see the Population Media Center, which already runs such radio and T.V. programs. This sort of sentiment can already be seen in the documentary that heir to Johnson and Johnson's fortune Jamie Johnson made, called The One Percent. Baby boomers were born in the years following the Second World War. These are innovations such as mobile Internet, mesh wireless networks, solar power and LED lighting, open source hardware, and permaculture. In some parts of the world, this is as simple as filing an amendment to their articles of incorporation. See Enspiral's capped returns for examples of this in the current economy, or Professor Steve Keen's proposals for a seven-year cap on investment returns. National militaries still exist, as do weapons manufacturers, but they are all governmentowned. And in the absence of for-profit weapons manufacturers, war-profiteering has all but faded away. Although yet to expand beyond an online market in German, by the end of 2015 Fairmondo was offering over 2 million products, including a wide variety of high quality, fair-trade, and sustainably produced items throughout most categories. See: https://www.fairmondo.de. <REF: http://thenextsystem.org/wpcontent/uploads/2015/10/GettingToTheNextSystem.pdf>. healthcare. As education and healthcare are largely made up of NFPs, we feel it's safe to conclude that the not-for-profit sector has more purpose-driven employees than the for-profit sector. lii Value Added Tax free