Future of Capitalism course asks students to take global perspectives

Learn more about the Future of Capitalism course at RRU. 

Over the last century or more, capitalism has brought prosperity to some, hardship to others and, sometimes, devastation to the planet. But capitalism has evolved, too, and the way it is practised now isn’t necessarily the way it will be practised in 10, 20 or 50 years. 

That’s why Royal Roads University has partnered with educational institutions around the world to offer its students the course Future of Capitalism. 

Spain’s IESE Business School and Japan’s Shizenkan University started the Future of Capitalism project in 2021 in collaboration with the School of Inspired Leadership in India and Brazil’s Fundação Getulio Vargas.  Royal Roads  joined the alliance  several years ago at the invitation of Shizenkan.

 As part of the course, 20 schools from five continents offer a slate of 11 online sessions, with topics ranging from What are the challenges facing business enterprises and leaders at this critical time of change in capitalism? to Exploring purpose-driven management and new corporation models to Reflecting on the relationship between companies and the planet.

More voices in the conversation

“You have CEOs, you have professors, you have folks from organizations like Greenpeace or organizations that are involved in labour,” says Deb Linehan, an RRU associate professor and program head for both the Master of Global Management and the Master of Business Administration programs who is the faculty lead on the Future of Capitalism. 

“You're bringing in such a wide perspective and it's really very thought-provoking for our students,” she says, adding, “You really need more voices in the conversation.” 

The course examines different models of business, Linehan notes, looking at start-ups, co-ops, not-for-profits, B corporations and more. 

It also digs into the core tenets of capitalism and asks questions such as “What does profit maximization mean for the environment?” 

Each online session closes with dialogue amongst the students situated  across the globe. The entire course culminates in in-person presentations at each participating partner institution where  students reflect on what they’ve learned. 

Doing business differently

“This course has to do with morals. It has to do with integrity. It has to do with our future generations,” says Wanda Krause, an associate professor and Global Leadership program head at RRU. “It's about economic choice in a different way so that we are uplifting the Earth rather than destroying it.”

She sees the value in deeply exploring a system that many take for granted — and its potential for change.

“We are creatures of immediacy. We don't think in terms of the long term, but if we can understand how our collective choices are affecting us individually, we can be convinced to change,” Krause says. 

In leadership education, she says, students learn that systems change relies on ripple effects. “And this course contributes to raising awareness around the importance of doing business differently. So, we're hoping our students bring this knowledge forward into the decision making wherever they are.”

A system that works for people and the planet

“Some people have a really hard time imagining anything beyond capitalism,” says Julie MacArthur, an associate professor and Canada Research Chair in Reimagining Capitalism.

“It's really about thinking about the relationship between workers and their ability to survive,” she says. “Can you pay your rent? Are you safe and secure in your work? A lot of things we might take for granted, like health and safety or minimum wages, are hard-fought adjustments to pure capitalism.” 

MacArthur adds: “I'm interested in a system that works for people and for the planet. Alternatives are everywhere once you start looking.” 

And she points out the value in both the global network that participates in the Future of Capitalism course as well as in the broad spectrum of students from across a range of disciplines who take the course at Royal Roads. 

“One of the central focuses of Royal Roads is on interdisciplinary learning — people getting out of their silos in industry and academia and learning from each other, across different ways of knowing. And this course gives us that.” 

Life-changing for students

Krause calls the Future of Capitalism “life-changing” for students and Linehan shared their written reflections on the course that echo that.

 “I love the dynamic and diverse group of leaders — academia, industry and students — that were part of it,” one student writes in their reflection.

Another says it was inspiring to hear from “world-class experts” and share ideas with other students, writing: “I came into this series as a pretty outspoken anti-capitalist, and my assumptions have been challenged such that I would take a more nuanced approach now: I see a role for capitalism in a sustainable future but it is one tool in the toolbox.” 

Yet another writes: “This course presented ideas for deep systemic transformation to our world and the way we do business, including perhaps even having an economy that no longer looks like capitalism.”

“The reassurance that something better is possible which I received from this program has motivated me to reframe what sustainability leadership looks like right now,” another student writes. “Thinking on a longer time scale, I see it as the responsibility for myself and my peers to set up the next generation of change agents.”

Strong demand for course

 When the university opened up registration for the Futre of Capitalism course this year, its second year as a credit course, it was full in less than a day, showing a rise in interest in the class, says Harry Nakayama, global partnerships manager at RRU.

“Part of my job is to provide global learning experiences for our students. By joining this course, our students are able to learn with students from different countries and institutions,” he says.

Nakayama also notes the quality of the other institutions involved, including the University of Oxford and National University of Singapore Business School. 

“At Royal Roads, we’re proud to collaborate with like-minded institutions around the world to offer learning experiences that challenge conventional thinking and prepare our students to lead systems change,” says Zoë MacLeod, RRU’s associate vice-president of global partnerships and business development. “The Future of Capitalism course is an unparalleled opportunity to engage in global dialogue, broaden worldviews and explore new models of doing business — models that are more equitable, sustainable and grounded in shared purpose.”

Learn more about the Future of Capitalism course at RRU.