The new economic laws of the Triple Bottom Line (people, planet, profit,) and Full Cost Full-Cycle Accounting for All Businesses
Sustainable Prosperity through these new principles of sustainable economics is created by all businesses and organizations embracing fair and appropriate exchange, the Triple Bottom Line Principle as well as product and production Full Cost Full-Cycle Accounting in managing and determining economic profitability. Full cycle accounting prevents individuals, businesses, or nations from exporting and externalizing ANY costs (including particularly all forms of pollution or other harms to society from things like the costs of alcohol, cigarette, or gambling addiction,) related to the full production and safe disposal cycle of their product to any other entity, including taxpayers.
Full cost accounting enforces full consequence capture onto those who have created the consequence. The Triple Bottom Line also redefines profit in terms of a sustainability, which involves fair and appropriate exchanges, the profit of the stakeholders (investors and employees,) of the organization, and the community/nation and environment the organization exists within.
Profitability that makes profit for the organization and then unfairly exports costs and harms to the individual, community, environment, bio-systems or even the nation is not sustainable or based on fair-exchange profitability. The Triple Bottom Line accounting would show all such costs and help to ensure such costs were recaptured fully by the source of such costs.
The triple bottom line when applied to all nations and businesses equally creates a level and fair playing field and it clearly helps to show at an environmental level which companies are truly profitable and which companies or nations are stealing from their communities their nations and other nations by failing to capture the full environmental and community costs of their production. A great example of the triple bottom line factor at work to have the polluter capture all of the costs of their pollution is the carbon pollution fee and 100% direct dividend to the public plan.
To learn more about Sustainable Prosperity in this online booklet click the next link to the bottom right.