Edited by Dominic Barton, Dezso Horvath, and Matthias Kipping

Re-Imagining Capitalism
Editions:Hardcover: $ 40.00 USD
ISBN: 9780198785453
Pages: 352
ePub

Re-Imagining Capitalism

  • provides views on reforming capitalism from academia, business, and NGOs;
  • brings together a first rate group of academics and business people who have made significant contributions to debate on the subject;
  • offers suggestions that are being and can be implemented;
  • is accessibly written, in a style that brings novel ideas and practices to a broad audience.

Capitalism has been an unprecedented engine of wealth creation for many centuries, leading to sustained productivity gains and long-term growth and lifting an increasing part of humanity out of poverty and subsistence. But its effects, and hence its future, have come increasingly under question: Is capitalism still improving the wealth and well-being for the many? Or, has it become destructive for the economy, where long-term value creation is being sacrificed to the pressures of short-termism; for society, where the gap between rich and poor has increased and opportunities to lift oneself out of poverty have dwindled; and for the natural environment, which seems increasingly under threat with unforeseen consequences for prosperity and global order?

Re-Imagining Capitalism reflects both the urgency of the needed action and the opportunity to achieve a wide-ranging agreement and lasting movement towards a more responsible, equitable, and sustainable model of capitalism in order to ensure its very survival. The volume is unique in that it brings together many of the leading proponents for a reformed, re-imagined capitalism from the fields of academia, business, and NGOs. Its contributors have been at the forefront of thought and action in regard to the future of capitalism. Both individually and collectively, they provide powerful suggestions of what such a long-term oriented model of capitalism should look like and how it can be achieved. Drawing on their research and/or professional experience, they write in an accessible way aiming to reach the broad audiences required to turn a re-imagined capitalism into a reality.

Excerpt:

Abstracts of chapters on Oxford Scholarship Online google books preview button

About the Editors

Dominic Barton is Global Managing Director at McKinsey & Company, Dezso Horvath, is Dean and Tanna H Schulich Chair in Strategic Management, Schulich School of Business, York University, and Matthias Kipping is Professor of Policy and Chair in Business History, Schulich School of Business, York University.

Table of Contents for Re-Imagining Capitalism

  1. Re-imagining Capitalism for the Long Term: Situating the Volume (Dominic Barton, Dezso Horvath and Matthias Kipping)

Part I. Trailblazing: The Role of Exemplary Leadership

  1.  Re-establishing Trust: Making Business with Purpose the Purpose of Business (Paul Polman)
  2. Business and Society: Reshaping Global Systems (Kathleen McLaughlin and Doug McMillon)
  3. Family Firms and "Patient Capital": Thinking in Decades, not Quarters (Galen G. Weston)
  4. Cooperatives: Stakeholder-oriented by Design, Long-term Focused by Necessity (Monique Leroux)
  5. Corporate Community Involvement in the 21st Century (Ratan N. Tata, with Dirk Matten)
  6. Broad: The Gifts of Breadth in a World Sold on Depth (Nick Lovegrove and Matthew Thomas)

Part II. Engaging: Broader Views for a Better Capitalism

  1. Understanding and Misunderstanding the Triumph of Capitalism (John Kay)
  2. Engagement Required: The Changing Role of the Corporation in Society (Andrew Crane and Dirk Matten)
  3. Responsible Capitalism: Business for the 21st Century (R. Edward Freeman, Bidhan L. Parmar, and Kirsten M. Martin)
  4. Being Good and Doing Well: Not as Easy as You Think (Bryan W. Husted)
  5. 'Maximizing Shareholder Value' is an Unnecessary and Unworkable Corporate Objective (Lynn Stout)
  6. Narrowcasting: How Media and Political Disruption Changed the Economic Debate (John Stackhouse)

Part III. Advancing: Suggestions for the Ways Forward

  1. Imagining a Sustainable Financial System (Simon Zadek)
  2. Integrated Reporting for a Re-Imagined Capitalism (Robert G. Eccles and Birgit Spiesshofer)
  3. Reasonable Expectations and Fiduciary Obligations: Legal Pathways to Longer-term Thinking (Edward Waitzer and Douglas Sarro)
  4. Corporate Social Responsibility: The Case for Active Ownership by Institutional Investors (Gordon L. Clark and Michael Viehs)
  5. Building the Right Long-term Approach: The Power of Aligning Leadership, Strategy, and Execution (Bruce Simpson and Tiffany Vogel)
  6. A New Way of Thinking About Resource Development: A Values-Based Approach (Richard A. Ross and D. Eleanor Westney)
  7. Restoring the Capitalist Promise: Opportunities in the U.S. Youth Labor Market (Shawn Bohen and Gerald Chertavian)

Conclusion

  1.  Capitalism Re-imagined (Dezso Horvath and Dominic Barton)