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Stuart Hart, "Beyond Shareholder Primacy: Remaking Capitalism for a Sustainable Future" (Stanford Business Books, 2024)

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Content provided by New Books Network. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by New Books Network or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://podcastplayer.com/legal.

In Beyond Shareholder Primacy: Remaking Capitalism for a Sustainable Future (Stanford Business Books, 2024) Hart argues that the current Milton Friedman–style "shareholder primacy capitalism," as taught in business schools and embraced around the world, has become dangerous for society, the climate, and the planet. Moreover, he maintains, it's economically unnecessary. Yet there are many reasons for hope―from the history of capitalism itself. Hart holds that capitalism has reformed itself twice before and is poised for a third major reformation. Retelling the origin story of capitalism from the fifteenth century to the present, he argues that a radically sustainable, just capitalism is possible, and even likely.

Hart goes on to describe what it will take to move beyond capitalism's present worship of "shareholder primacy," including corporate transformations to re-embed purpose and reforms to major economic institutions. A key requirement is eliminating the "externalities" (or collateral damage) of the current version of shareholder capitalism.

Sustainable capitalism has to explicitly incorporate the needs of society and the planet, include a financial system that allows leaders to prioritize the planet, reorganize business schools around sustainable management thinking, and enable corporations not just to stop ignoring the damage they cause, but actually begin to create positive impact.

Learn more about your ad choices. Visit megaphone.fm/adchoices

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488 episodes

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Manage episode 515012407 series 3381770
Content provided by New Books Network. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by New Books Network or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://podcastplayer.com/legal.

In Beyond Shareholder Primacy: Remaking Capitalism for a Sustainable Future (Stanford Business Books, 2024) Hart argues that the current Milton Friedman–style "shareholder primacy capitalism," as taught in business schools and embraced around the world, has become dangerous for society, the climate, and the planet. Moreover, he maintains, it's economically unnecessary. Yet there are many reasons for hope―from the history of capitalism itself. Hart holds that capitalism has reformed itself twice before and is poised for a third major reformation. Retelling the origin story of capitalism from the fifteenth century to the present, he argues that a radically sustainable, just capitalism is possible, and even likely.

Hart goes on to describe what it will take to move beyond capitalism's present worship of "shareholder primacy," including corporate transformations to re-embed purpose and reforms to major economic institutions. A key requirement is eliminating the "externalities" (or collateral damage) of the current version of shareholder capitalism.

Sustainable capitalism has to explicitly incorporate the needs of society and the planet, include a financial system that allows leaders to prioritize the planet, reorganize business schools around sustainable management thinking, and enable corporations not just to stop ignoring the damage they cause, but actually begin to create positive impact.

Learn more about your ad choices. Visit megaphone.fm/adchoices

  continue reading

488 episodes

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