Re-Imagining Capitalism

Capitalism has been an unprecedented engine of wealth creation for many centuries, leading to sustained productivity gains and long-term growth and lifting an increasing proportion of humanity out of poverty. But its effects, and hence its future, have come increasingly under question: Is capitalism still improving wealth and well-being for the many? Or, is long-term value creation being sacrificed to the pressures of short-termism, with potentially far-reaching consequences for society, the natural environment, prosperity, and global order? Building on a collaboration between the Schulich School of Business and global management consultancy McKinsey & Company, this volume reflects both the urgency of the needed action and the tremendous opportunity to forge consensus and catalyze a lasting movement toward a more responsible, long-term, and sustainable model of capitalism. This unique volume brings together many of the leading proponents for a reformed, re-imagined capitalism from the Afields of academia, business, and NGOs. Its contributors have been at the forefront of thought and action in regard to the future of capitalism. Both individually and collectively, they provide powerful suggestions of what such a long-term oriented model of capitalism should look like and how it can be achieved. Drawing on their research and professional experience, they write in an accessible style aiming to reach the broad audiences required to turn a re-imagined capitalism into a reality. Contributors to this volume - Dominic Barton is the Global Managing Director of McKinsey & Company Shawn Jacqueline Bohen serves on the executive leadership team at Year Up Gerald Chertavian is the CEO and founder of Year Up Gordon L. Clark is Professor and Director of the Smith School of Enterprise and Environment at Oxford University Andrew Crane is the George R. Gardiner Professor of Business Ethics at the Schulich School of Business, York University Robert G. Eccles is a Professor of Management Practice at the Harvard Business School R. Edward Freeman is a prolific educator, consultant, and speaker Dezso J. Horvath is Dean and Tanna H. Schulich Chair in Strategic Management at the Schulich School of Business, York University Bryan Husted is a Professor of Management at the EGADE Business School of the Tecnologico de Monterrey John Kay is currently visiting Professor at the London School of Economics Matthias Kipping is Professor of Policy and Chair in Business History at the Schulich School of Business, York University Monique Leroux is the Chair of the Board, President and Chief Executive Officer of the Desjardins Group Nick Lovegrove is the US managing partner of the Brunswick Group Kirsten E. Martin is an Assistant Professor of Strategic Management & Public Policy at the George Washington University's School of Business Dirk Matten is the Hewlett-Packard Chair in Corporate Social Responsibility and a Professor at the Schulich School of Business, York University Kathleen McLaughlin is President of the Walmart Foundation Doug McMillon is the President and Chief Executive officer of Wal-Mart Stores, Inc Bidhan Parmar is an Assistant Professor at the Darden School of Business Paul Polman is the Chief Executive of Unilever Richard Ross Schulich School of Business, York University Douglas Sarro is an Associate at Sullivan & Cromwell LLP Bruce Simpson is a Director of McKinsey Birgit Spiesshofer is Of Counsel at Dentons John Stackhouse is Senior Vice-President in the Office of the CEO of Royal Bank of Canada Lynn Stout is the Distinguished Professor of Corporate and Business Law at Cornell University Ratan Tata was the Chairman of Tata Sons from 1991 to 2012 Matthew Thomas is the founder of Prospect Madison Michael Viehs is Research Director at the Smith School of Enterprise and the Environment at the University of Oxford Tiffany Vogel is an Associate Principal at McKinsey in Toronto Edward Waitzer is former Chair of Stikeman Elliott LLP D. Eleanor Westney is Professor Emerita at the Schulich School of Business and at the MIT Sloan School of Management Galen G. Weston is the President and Executive Chairman of Loblaw Companies Limited Simon Zadek is the co-Director of the UN Environmental Program Inquiry into Design Options for a Sustainable Financial System