Performance and Progress: Essays on Capitalism, Business, and Society

The prevailing aspiration of business is performance, while that of society is progress. Capitalism, both the paradigm and practice, sits at the intersection of these dual aspirations, and the essays in this volume explore its fraught status there. Contributions to this volume address questions such as (i) what's the problem with capitalism?; (ii) is the problem just with the practice or with the very paradigm?; (iii) what is progress and who is responsible for it?; (iv) what evolution is required at the individual, system, and paradigm level so that enterprises and the executives who lead them may better integrate performance with progress?; and (v) whither consumers, employees, and investors in this evolution? The book offers perspectives from two distinct intellectual domains-social science and philosophy. Scholars in social science (including economics, management, and sociology) tend to study performance. Ideas of progress, on the other hand, tend to fall more under the purview of philosophers (in particular social and political philosophers). Further, to obtain an insider's view on practice and possibilities, the volume includes essays from a handful of thoughtful business leaders. Research should consider not just how to make sustainability profitable, but also how to make profitability and the modern economic system sustainable. If we are to better comprehend why the world is in protest, to reflect on progress or dilemmas of trust, we must appreciate the tenuous assumptions of modern microeconomics and markets, and hear from modern philosophers about the basis and limits of rationality. Contributors to this volume - Elizabeth Anderson, Professor of Philosophy and Women's Studies, University of Michigan, Ann Arbor Kwame Anthony Appiah, Professor of Philosophy and Law, New York University Kenneth J. Arrow, Emeritus Professor of Economics, and Management Science and Engineering, Stanford University David H. Autor, Professor of Economics, Massachusetts Institute of Technology Jay B. Barney, Professor of Strategic Management, University of Utah Julie Battilana, Associate Professor of Business Administration, Harvard Business School Bertrand Collomb, Honorary Chairman, and former CEO, Lafarge Gerald F. Davis, Professor of Management and of Sociology, University of Michigan, Ann Arbor Robert H. Frank, Professor of Management and Professor of Economics, Cornell University Michael Fuerstein, Assistant Professor of Philosophy, Saint Olaf College Harrison Hong, Professor of Economics and Finance, Princeton University Majid H. Jafar, CEO, Crescent Petroleum Philip Kitcher, Professor of Philosophy, Columbia University Inessa Liskovichy, doctoral candidate in economics, Princeton University Jack Ma, Founder and Executive Chairman, Alibaba Group, China James G. March, Emeritus Professor of Organizational Behavior, Stanford University Ramon Mendiola, CEO, Florida Ice & Farm Company, Costa Rica John W. Meyer, Emeritus Professor of Sociology, Stanford University Susan Neiman, Director, Einstein Forum, Berlin Samuel J. Palmisano, Chairman, The Center for Global Enterprise; and Former Chairman, President and CEO, IBM Philip Pettit, University Professor, and Professor of Politics and Human Values, Princeton University; and Professor of Philosophy, Australian National University Subramanian Rangan - Professor of Strategy and Management, INSEAD Mathias Risse,Professor of Philosophy and Public Policy, Harvard University David Schmidtz, Professor of Philosophy, and Professor of Economics, University of Arizona Amartya Sen, University Professor, and Professor of Economics and Philosophy, Harvard University Jim Hagemann Snabe, Member of the Supervisory Board, and former Co-CEO, SAP AG Valerie Tiberius, Professor of Philosophy, University of Minnesota James P. Walsh, Professor of Business Administration, University of Michigan, Ann Arbor