As the effects of the financial crisis continue to be felt around the world, people are starting to question the capitalist model. Alternatives and amendments are being proposed including caps on executive salaries and greater protection for the environment.

American writer, Peter Barnes, argues in his new book Capitalism 3.0: A Guide to Reclaiming the Commons that capitalism as we know it is long overdue for an upgrade - just like computer software. Barnes says that capitalism and corporations are very good at maximizing short-term profit. But this goal is achieved at the expense of nature, human equality and happiness.

Reporter: Cinnamon Nippard