Last week I saw a TED video where Nich Hanauer warned the wealthy 1% to alter their thinking about capitalism or face pitchforks. This week McKinsey came out with their 50th anniversary “magazine” where Nick Hanauer proposed capitalism needs rethinking. Unilever’s chief executive also said the capitalism needs to evolve.
Then there were a couple of HBR articles decrying the single focus on shareholder value. Robert Reich says business schools need to change.
All of these articles pretty much says the focus should evolve to include other stakeholders instead of just one group. There is definitely an underlying sense that if we don’t change what capitalism stands for and what it can do, society will destabilize.
Capitalism needs to be more inclusive.
So, thankfully, others are starting to speak up.
(This post will be short as I seriously lack time. I might later expound in more details but for now, search out the McKinsey and HBR sites for the articles. I’m reading mine through the apps so it’s hard to post the links.)