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Does capitalism need a radical redesign to become more inclusive?

Designer Nina Montgomery offers up three innovation challenges for leaders who say they want to broaden the purpose of business. At the beginning of the month, leadership of the World Economic Forum declared that Milton Friedman was wrong. The purpose of business, they said, is no longer to maximize shareholder...
Designer Nina Montgomery offers up three innovation challenges for leaders who say they want to broaden the purpose of business. At the beginning of the month, leadership of the World Economic Forum declared that Milton Friedman was wrong. The purpose of business, they said, is no longer to maximize shareholder profits above all else, but to consider multiple stakeholders and society more broadly. It’s a refrain that has dominated 2019 — from Blackrock Chairman and CEO Larry Fink‘s letter to shareholders in January and the Business Roundtable announcement in August, to Salesforce.com founder and co-CEO Marc Benioff‘s New York Times article in October. From this growing chorus has emerged the promise of a more fair, inclusive, and sustainable “new capitalism.”Read Full Story
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