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The second form of capitalism is related to the radical reaction known as
populism. It is a backlash against the first form. And as it gets stronger, the
European Union is drifting apart — drifting toward a continent of walls and
a more authoritarian way of life. This could lead to a more state-managed view
of capitalism, like that of many Asian countries, where economic tools are
used in the most aggressive way at the service of institutions that are not neces-
sarily democratic.
If we don’t create a framework for a third way, a reasonable, sustainable cap-
italism, then we are heading toward one of these first two futures. We run the risk
of seeing our culture disappear in a sort of no-man’s-land without any purpose.
S+B: You are trying to save capitalism from itself?
SENARD: Exactly. Because I think capitalism is the only system that we have
experienced that can increase the well-being of people and societies. All the other
systems have not been successful. The third-way approach, which many people
still believe in, will need a political decision. Only an entity like the French par-
liament or the European Commission can create a framework for this.
Enterprises with a mission
S+B: The French government has just established a law based on your recom-
mendations. What, in your view, are its central elements?
SENARD: Companies must orient their business models differently. They must of