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The core tenets of a capitalist system that dominated the world for more than a century are being challenged as never before. Narratives about the failures of capitalism, the greed of the 1 percent, and the blindness of corporations to public need have made their mark and are driving change. These aren't the superficial cosmetic fixes that generated so much cynicism in the past, but a revolution in the way corporations are imagined and run.
Tomorrow's Capitalist reveals how corporate CEOs—the ultimate pragmatists—realized that they could lose their "operating license" unless they tackle the fundamental issues of our time: climate, diversity and inclusion, and inequality and workforce opportunity. Responding to their employees and customers who are demanding corporate change, they have taken the lead in establishing the bold new principles of stakeholder capitalism, ensuring that for the first time in more than a half a century it is not just shareholders who have a say in how corporations are run.
Alan Murray vividly captures the zeitgeist of the real and compelling dynamic that is transforming much of the corporate world.
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Creators
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Publisher
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Release date
May 10, 2022 -
Formats
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OverDrive Listen audiobook
- ISBN: 9781549164002
- File size: 262803 KB
- Duration: 09:07:30
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Languages
- English
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Reviews
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March 15, 2022
Business journalist Murray examines the growing idea of the socially conscious company. When Bill Gates, "capitalism's greatest victor," argues that corporations should help improve the lives of people less fortunate than he, then you know that the worm has definitely turned. For generations, thanks to the hold that the economic ideas of Milton Friedman once exerted on business thinking, it was a tenet of market fundamentalism that the sole duty of a corporation was to maximize profits for its shareholders. But not long ago, as Murray meaningfully puts it, "capitalism got a second look." One manifestation was a joint statement announced by the attendees at a 2016 conference, among them representatives of Ford, IBM, Siemens, and Dow Chemical, that capitalism needed "to do a better job demonstrating its value to society." The Covid-19 pandemic has only sharpened that need, as workers leave unsatisfying jobs and as decision-making becomes increasingly decentralized such that managers are needed mostly to articulate corporate values and set goals. The flavors of this reenvisioned capitalism are many, Murray writes, including Whole Foods founder John Mackey's "conscious capitalism," Chase leader Jamie Dimon's insistence on looking at big-picture issues such as diversity and inequality, and GM head Mary Barra's climate change-oriented pledge to "eliminate all tailpipe emissions from new GM cars by 2035." Murray isn't exactly a cheerleader, but he offers positive news for those seeking to take part in this evolving market. As he writes, 75 million jobs will be eliminated by new technologies worldwide in 2022, but 133 million will be created--good reason, he adds, to insist that socially responsible companies help "reskill" their workers to meet changing times. He hammers on a few themes, such as the decline of shareholder supremacy, a time or two too often, but business readers will find plenty to ponder. A wide-ranging reconsideration of long-held ideas about doing business.COPYRIGHT(2022) Kirkus Reviews, ALL RIGHTS RESERVED.
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