'Māori Perspectives on Conscious Capitalism' provides recommendations on rethinking economic policy to position Māori enterprise for success. Photo / Greg Bowker / NZME
A blueprint for a sustainable, economically viable economy based with integrated Māori values has been laid out by academics at the University of Auckland.
Māori Perspectives on Conscious Capitalism provides insight on Māori wealth creation, and recommendations on how to rethink government policy to position Māori enterprise for success.
“Māori imperatives for wealth creation are intergenerational and focus on value creation beyond financial profits,” University of Auckland Business School academics Kiri Dell, Carla Houkamau, Jamie Newth, and the University of Waikato's Jason Mika says.
“Māori people whakapapa to the natural world, and examples from our research and others show that Māori take a view that's aligned to sustainability imperatives because of an underlying spiritual belief that the environment is our ancestor,” they say.
The global phenomenon of ‘conscious capitalism’ offers a helpful guide for policy makers but Aotearoa needs to refine potential policy changes, beyond the reference points of its western foundation, to integrate te ao Māori.
"Conscious capitalism, in our view offers useful principles that are in some ways relatable to Māori beliefs, but they're limited in terms of understanding how spirituality, whakapapa, and service to past and future generations are balanced as part of the process of wealth creation,” they say.
Manahau
The researchers discuss the concept of manahau - a contraction of mana (power, authority, and dignity) and hau (vitality of people, places, and objects) to illustrate how Māori perspectives extend the notion of conscious capitalism to incorporate Indigenous ways of thinking and operating.
"Manahau expands our profit and capital-focused interpretation of economy where only what can be measured financially is considered of value.” they write.
“It sees human activity, including survival and wealth creation, as inextricably linked with community-based values and benefits rather than individualised productivity or benefits alone."
In its push for equity, the Labour government somewhat controversially pivoted budgets and economic policy orientations to quality of life in 2019, with its first so-called 'Well-being budget'.
The authors suggest investigating pre- and post-colonial Māori economic values and practice will determine how far manahau can be realised in a Western-dominated financial system.
"We need environmental and economic policies and practices that enable Māori to do business in ways that align with Māori values that have resonance for both Māori and non-Māori enterprises." The group says.
