The Triple Bottom Line: The Progressive Push for the ‘Phoenix Economy’
by Central Illinois 9/12 ProjectAs we mentioned in our last article, the prevalence of the Triple Bottom Line philosophy is signaling a changing paradigm, a time of transformation. Our question, then, is this: What exactly are we transforming into? The knee-jerk answer might be that we are transforming from a capitalist system to a socialist system. However, the widespread adoption of 3BL belies such a simple answer. Socialism, with its complete government control of production, is hardly desirable for private business interests. American corporations are willingly embracing 3BL without even a government mandate. There is something deeper going on than simply a tug of war between two economic systems, and we are seeking to explore just what that may be.

Our first clues as to where we are going lay in the past, with the origin of the term “Triple Bottom Line.” For that we can credit John Elkington (his personal website and blog is here), who introduced the public to the term for the first time in his 1997 publication Cannibals With Forks: The Triple Bottom Line of 21st Century Business. Elkington is a longtime advocate for corporate environmental and social awareness, having cofounded the business development consulting firm SustainAbility in 1987. In fact, we may consider him a “founder” of corporate sustainability, having been called a “dean of the corporate responsibility movement for three decades” by BusinessWeek. Elkington currently serves as the Executive Chairman of the sustainability think tank Volans, which he helped found in 2008. His work with Volans is what provides a real glimpse into the end game of 3BL, in a concept termed “The Phoenix Economy.”
The Phoenix Economy is a concept professing that the failure of an existing economic system will leave a void and an opportunity for a new system to take its place. (The term “phoenix” refers to the bird of that name which, in ancient mythology, dies in a self-created fire and is then reincarnated from the ashes.) Old paradigms and established principles are replaced by a new way of approaching economics — and indeed the culture. Elkington recognizes this as an opportunity to establish a new paradigm based on 3BL philosophy. Global sustainability is the principle by which the economic and social culture will be driven. The Volans website provides a concise explanation of the Phoenix Economy.
According to Volans:
From the ashes of the downturn, a new economy is self-assembling—focused on providing social and environmental solutions, where markets and governments have failed.






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