Stakeholder Capitalism

Stakeholder Capitalism
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Reimagining our global economy so it becomes more sustainable and prosperous for all Our global economic system is broken. But we can replace the current picture of global upheaval, unsustainability, and uncertainty with one of an economy that works for all people, and the planet. First, we must eliminate rising income inequality within societies where productivity and wage growth has slowed. Second, we must reduce the dampening effect of monopoly market power wielded by large corporations on innovation and productivity gains. And finally, the short-sighted exploitation of natural resources that is corroding the environment and affecting the lives of many for the worse must end. The debate over the causes of the broken economy—laissez-faire government, poorly managed globalization, the rise of technology in favor of the few, or yet another reason—is wide open. Stakeholder Capitalism: A Global Economy that Works for Progress, People and Planet argues convincingly that if we don't start with recognizing the true shape of our problems, our current system will continue to fail us. To help us see our challenges more clearly, Schwab—the Founder and Executive Chairman of the World Economic Forum—looks for the real causes of our system's shortcomings, and for solutions in best practices from around the world in places as diverse as China, Denmark, Ethiopia, Germany, Indonesia, New Zealand, and Singapore. And in doing so, Schwab finds emerging examples of new ways of doing things that provide grounds for hope, including: Individual agency: how countries and policies can make a difference against large external forces A clearly defined social contract: agreement on shared values and goals allows government, business, and individuals to produce the most optimal outcomes Planning for future generations: short-sighted presentism harms our shared future, and that of those yet to be born Better measures of economic success: move beyond a myopic focus on GDP to more complete, human-scaled measures of societal flourishing By accurately describing our real situation, Stakeholder Capitalism is able to pinpoint achievable ways to deal with our problems. Chapter by chapter, Professor Schwab shows us that there are ways for everyone at all levels of society to reshape the broken pieces of the global economy and—country by country, company by company, and citizen by citizen—glue them back together in a way that benefits us all.

Оглавление

Klaus Schwab. Stakeholder Capitalism

Table of Contents

List of Illustrations

Guide

Pages

STAKEHOLDER CAPITALISM. A GLOBAL ECONOMY THAT WORKS FOR PROGRESS, PEOPLE AND PLANET

About the Authors

Preface

1 75 Years of Global Growth and Development

Foundations of the Post-War Global Economic Order

The Glorious Thirty Years in the West

The Tumultuous 1970s and 1980s

Die Wende

Globalization in the 1990s and 2000s

The Collapse of a System

Notes

2 Kuznets’ Curse : The Issues of the World Economy Today

The Original Kuznets’ Curse: GDP as Measure of Progress

Low GDP Growth

Rising Debt

Low-Interest Rates and Low Inflation

Declining Productivity Growth

The Second Kuznets’ Curse: Inequality

Income Inequality

Wealth, Health, and Social Mobility

The Third Kuznets Curse: The Environment

A Degrading Environment

Notes

3 The Rise of Asia

China's Special Economic Zones

The Price of Progress

Emerging Markets in China's Slipstream

Growth in India

The Bigger Picture

Notes

4 Divided Societies

German Division and Reunification

The Erosion of the Political Center

Societal Unrest

The Lesson to Draw from a Divided Society

Notes

5 Globalization

Indonesia and Globalization

Early Beginnings and Spice Routes6

Age of Discovery (15th to 18th Century)

First Wave of Globalization (19th Century–1914)

Second and Third Wave of Globalization

Globalization 4.0

Globalization Today

Notes

6 Technology. A Changing Labor Market

A Changing Business Landscape

Pre-Industrial Revolutions

The First Industrial Revolution

The Second Industrial Revolution

The Third Industrial Revolution

The Fourth Industrial Revolution

Notes

7 People and the Planet

Thunberg at Davos

Notes

8 Concept

The History of the Stakeholder Concept

The Stakeholder Model Today

Principles and Beliefs Underlying the Stakeholder Model

Subsidiarity

Value Creation and Sharing

Stakeholder Capitalism in Practice. A Seat at the Table

Going Beyond GDP and Profits

Check and Balances, and Robust Institutions

Notes

9 Companies

Mærsk

Notes

10 Communities. New Zealand during the COVID-19 Crisis

The Key Tasks of National Governments

Singapore as a Model of Stakeholder Government

New Zealand and the Move Away from GDP

Civil Society and the International Community

Consumer Rights Groups

Modern Unions

Advocacy Groups

Notes

Conclusion: The Road to Stakeholder Capitalism

Notes

Acknowledgments

Index

WILEY END USER LICENSE AGREEMENT

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“Fifty years ago Klaus Schwab first proposed his theory that businesses are not only responsible to their shareholders, but also to all their stakeholders. With a global economic system generating deep divisions and inequalities, Klaus renews his call for a form of capitalism that works for everyone and where businesses don't just take from society but truly give back and have a positive impact. Stakeholder Capitalism is an urgent call to action.”

.....

Finally, more and more people are questioning even how useful it is to pursue growth as an indicator of progress. According to the Global Footprint Network,27 1969 was the last time the global economy didn't “overspend” nature's resources for the planet. Fifty years on, our ecological footprint is greater than ever, as we use up more than 1.75 times the resources the world can replenish.

All these macroeconomic, social, and environmental trends are mirrored in the incremental effects of decisions taken by individuals, companies, and governments, both local and national. And it confronts those same societies, which have come so far from the era of wars, poverty, and destruction, with an unpleasant new reality: they grew rich but at the expense of inequality and unsustainability.

.....

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