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  • 2020
  • Book

Capitalism at Risk: How Business Can Lead

By: Joseph L. Bower, Dutch Leonard and Lynn S. Paine
  • Format:Print
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Abstract

Who should take the lead in fixing market capitalism? Business—not government alone. The spread of capitalism worldwide has made people wealthier than ever before. But capitalism's future is far from assured. Pandemics, income inequality, resource depletion, mass migrations from poor to rich countries, religious fundamentalism, the misuse of social media, and cyberattacks—these are just a few of the threats to continuing prosperity that we see dominating the headlines every day. How can capitalism be sustained? And who should spearhead the effort? Critics turn to government. In their groundbreaking book, Capitalism at Risk, Harvard Business School professors Joseph Bower, Herman Leonard, and Lynn Paine argue that while robust governments must play a role, leadership by business is essential. For enterprising companies—whether large multinationals, established regional players, or small startups—the current threats to market capitalism present important opportunities. In this updated and expanded edition of Capitalism at Risk, Bower, Leonard, and Paine set forth a renewed and more urgent call to action. With three additional chapters and a new preface, the authors explain how the eleven original disruptors of the global market system clash with the digital age, and they provide lessons on how to take action. Presenting examples of companies already making a difference, Bower, Leonard, and Paine show how business must serve both as innovator and activist—developing corporate strategies that effect change at the community, national, and international levels. Filled with rich insights, this new edition of Capitalism at Risk presents a compelling and constructive vision for the future of market capitalism.

Keywords

Capitalism; Business And Society; Economic Systems; Economic Growth; Policy; Leading Change; Corporate Social Responsibility And Impact; Business And Community Relations; Corporate Strategy

Citation

Bower, Joseph L., Dutch Leonard, and Lynn S. Paine. Capitalism at Risk: How Business Can Lead. Updated and expanded ed. Boston: Harvard Business Review Press, 2020.
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About The Authors

Joseph L. Bower

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Dutch Leonard

General Management
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Lynn S. Paine

General Management
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    • 24 Nov 2020
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    Corporate Governance Amidst the Pandemic

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    Wilderness Safaris: Responses to the COVID-19 Crisis

    By: James E. Austin, Megan Epler Wood and Herman B. "Dutch" Leonard
    • November–December 2020
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    The Risks You Can't Foresee: What To Do When There's No Playbook

    By: Robert S. Kaplan, Herman B. Leonard and Anette Mikes
More from the Authors
  • Corporate Governance Amidst the Pandemic By: Lynn S. Paine
  • Wilderness Safaris: Responses to the COVID-19 Crisis By: James E. Austin, Megan Epler Wood and Herman B. "Dutch" Leonard
  • The Risks You Can't Foresee: What To Do When There's No Playbook By: Robert S. Kaplan, Herman B. Leonard and Anette Mikes
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