New Book Review: "The Purpose Economy"
New book review for The Purpose Economy: How Your Desire for Impact, Personal Growth and Community is Changing the World, by Aaron Hurst, Elevate, 2014, reposted here:
The author believes that we as a society are in the early days of what he calls the "Purpose Economy", a fourth economic stage preceded by the Information Economy (a term coined in a doctoral thesis by his uncle, Marc Porat, almost 40 years ago), the Industrial Economy, and the Agrarian Economy. This new economy is centered on the needs of people to find purpose in their work and lives, a natural progression of the needs of people and the types of goods, services, and jobs desired by them. While the Information Economy still dominates, with technology largely synonymous with jobs, growth, and innovation, as Hurst began sharing his ideas with those around him, the ideas surrounding this new economic stage resonated with much of what they have been witnessing in their own lives.
As founder of Taproot Foundation, the largest nonprofit consulting firm in the United States, the author witnessed the positive social impact that pro bono work provided. His search for patterns in successful social change efforts resulted in what he called the "Five Levers for Social Change" (research, policy, public perceptions, disruptive technology, and bright spots) in his 5-part series for the "Stanford Social Innovation Review" a few years ago. As Hurst visually mapped out all of the diverse approaches to advancing progress, he came to understand that the diversity of perspectives of those around him to execute actually constitute a diversity of purpose.
The author explains the difference between "purpose" and "cause" early in the book to drive the message that cause is a noun whereas purpose is a verb. Purpose is an action. Over the course of reading thousands of applications by Taproot applicants seeking to contribute to nonprofit organizations, Hurst came to realize that people gain purpose when they grow personally, establish meaningful relationships, and are in service to something greater than themselves. But how can people be enabled to have work rich in purpose? This book explores the evolution of markets within the Purpose Economy and the key levers that can be used to advance them, the new approaches to running an organization across sectors that can thrive in this new economic stage, and the finding of professional purpose at the individual level.
After presenting examples of personal, social, and societal purpose, the author explores the evolution of our economy in greater depth, providing an analysis of the Purpose Economy (in much the same way as his uncle had for the Information Economy), and explaining that it is comprised of much more than the nonprofit sector. In subsequent chapters, Hurst presents the ten drivers of the new economy (human-scale technology, the Maslow Millennial Effect, Generation Disrupt, environmental, economic, and political turmoil, longevity, changing families and evolving roles, new social science, accelerated globalization, a shifting social context, and blending of the sectors), followed by discourses on why purpose matters, purpose myth-busting, the who, how, and why of purpose, the practice of purpose, the Purpose Economy organization and how an organization can thrive in the new economy, the purpose-driven professional, leading with purpose, and societal purpose.
As a former Taproot project manager who has also had fulfilling experiences working on pro bono initiatives both before and after Taproot, I was excited to hear about this forthcoming book. While not everyone will agree with all that the author presents, he hits the nail on the head in so many areas on the subjects of work and purpose that most will find it an engaging read. Many of my past book recommendations are limited to specific audiences, but because the subjects of work and purpose are so pervasive, an attempt to impose limits on the target audience proves difficult. In some aspects, the thoughts that Hurst shares are an evolution of those shared by other authors such as Max Weber and Rick Warren, but for a much broader readership that includes the society at large, composed of individuals with diverse backgrounds.
The author ties together topics well, and as a reader I especially appreciate the even mix of theory and practice that focuses on action, including dozens of sidebars about individuals and organizations throughout the text, and the points he makes about the purpose-driven individual and why companies seeking innovation and creativity need to think of their employees as artists. And for readers who are not familiar with the difference between "pro bono service", which uses specific skills of professionals to provide services to those unable to afford them, and "volunteerism", a great discussion on this subject matter is provided in Chapter 4 ("Purpose is What Matters"). Research has shown "that pro bono, the donation of [one's] highest strengths and talents, [is] more rewarding and pleasurable than traditional volunteerism, because it combines the elements of meaning and engagement." Well said.