Reimagining Capitalism in a World on Fire

Reimagining Capitalism in a World on Fire

A renowned Harvard professor debunks prevailing orthodoxy with a new intellectual foundation and a practical pathway forward for a system that has lost its moral and ethical foundation. Free market capitalism is one of humanity's greatest inventions and the greatest source of prosperity the world has ever seen. But this success has been costly. Capitalism is on the verge of destroying the planet and destabilizing society as wealth rushes to the top. The time for action is running short. Rebecca Henderson's rigorous research in economics, psychology, and organizational behavior, as well as her many years of work with companies around the world, give us a path forward. She debunks the worldview that the only purpose of business is to make money and maximize shareholder value. She shows that we have failed to reimagine capitalism so that it is not only an engine of prosperity but also a system that is in harmony with environmental realities, the striving for social justice, and the demands of truly democratic institutions. Henderson's deep understanding of how change takes place, combined with fascinating in-depth stories of companies that have made the first steps towards reimagining capitalism, provide inspiring insight into what capitalism can be. Together with rich discussions of important role of government and how the worlds of finance, governance, and leadership must also evolve, Henderson provides the pragmatic foundation for navigating a world faced with unprecedented challenge, but also with extraordinary opportunity for those who can get it right. Shortlisted for the Financial Times/McKinsey Book of the Year Award "Henderson's convincing arguments and passion will be a clarion call to action for business leaders and interested readers everywhere."― Library Journal, starred review "Lucid and optimistic...this accessible and richly detailed call to action offers a clear vision for policy makers and business executives who agree with Henderson that the private sector has an obligation to tackle the world's biggest problems."― Publishers Weekly "A well-constructed critique of an economic system that, by the author's account, is a driver of the world's destruction... A readable, persuasive argument that our ways of doing business will have to change if we are to prosper-or even survive."― Kirkus Reviews "This book has an important message about the critical role of purpose-driven businesses in our society and how capitalism and democracy need to interact constructively to solve our most pressing challenges."― Stanford School of Business "The COVID-19 pandemic has given the ideas in... Reimagining Capitalism in a World on Fire ...a perverse timeliness, making these issues not only relevant, but even appealing, to people who previously may not have touched them with a 10-foot pole." ― Katherine Dunn, Fortune "In engaging and refreshingly candid writing, Henderson sets out her vision of equitable and sustainable capitalism and enumerates the changes needed to get us there....Her blueprint may sound impossible, yet Henderson's optimism is founded on deep expertise as a scholar who has worked closely with corporate leaders." ― Mark Kramer, Stanford Social Innovation Review "Coupling detailed accounts from companies taking strides toward redefining capitalism with her own rich understanding of the potential of modern businesses, Henderson makes a compelling argument that capitalism as we know it is a missed opportunity, and builds the framework for business to prosper while complying with environmental factors and championing social justice." ― WBUR.org The ARTery " Reimagining Capitalism in a World on Fire ...should encourage a new era of co-operation & collaboration between government, business & communities of individuals." ― Andrew Hill, Financial Times "This powerful and readable book is a clarion call for reimagining and remaking capitalism. The market economy, which used to generate rapid productivity growth and shared prosperity, has done much less of that over the last four decades. The shifting balance of power in favor of large companies and lobbies, the gutting of basic regulations, the increasing ability of corporations and the very rich to get their way in every domain of life, and the unwillingness of the government to step up to protect its weakest citizens are likely responsible for low productivity growth and ballooning inequality in the US economy. Rebecca Henderson argues that the market system can be reformed and this can be done without unduly harming corporations. We can have a more moral and more innovative capitalism. There is hope!"― Daron Acemoglu, coauthor of Why Nations Fail "If you are unsatisfied with today's economic arguments--which too often seem to present an unappealing choice between unbridled markets and old-school collectivism--you need to read Rebecca Henderson's Reimagining Capitalism in a World on Fire . Henderson offers a system that reward