ISBN : 9780198799573
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.
Part I Problem
1 Majid H. Jafar: What's Wrong with Capitalism?
2 James G. March: Do The Mistakes Lie In Decision Makers Or In Economics?
3 Kenneth J. Arrow: Some Failures Of The Economy
4 David Schmidtz: Toward a Philosophy of Corruption
5 John W. Meyer: Social Control in a Stateless World Society: Confronting and Constructing Social Problems
Discussion Summary - Problem
Part II Progress
6 Kwame Anthony Appiah: Capitalism and Human Progress
7 Philip Kitcher: On Progress
8 James P. Walsh: Freedom, Responsibility, and Keeping [Our] Hope Alive
9 Amartya Sen: Progress and Public Reasoning
10 Jack Ma: An Entrepreneur's Reflections on Progress
Discussion Summary - Progress
Part III Balancing And Tradeoffs
11 Elizabeth Anderson: The Business Enterprise as an Ethical Agent
12 Jay B. Barney: Shareholders, Stakeholders, and Strategic Factor Markets
13 Mathias Risse: Climate Change, Justice and Humanity's Collective Ownership of the Earth: Intergenerational Perspectives
14 David H. Autor: The Paradox of Abundance: Automation Anxiety Returns
15 Jim Hagemann Snabe: A Unique Opportunity: Balance without Trade-offs?
16 Samuel J. Palmisano: The Goal and Role of Business
Discussion Summary - Balancing and Tradeoffs
Part IV Choices And Preferences
17 Ramon Mendiola: Holistic Capitalism: The Role of Individuals
18 Harrison Hong and Inessa Liskovich: Whither the Good Firm: Quasi-Experiments in Corporate Social Responsibility
19 Robert H. Frank: Positional Externalities as a Source of Market Failure
20 Valerie Tiberius: Well-being, Values and Improving Lives
21 Susan Neiman: Ideas of Reason
Discussion Summary - Choices and Preferences
Part V Power and Trust
22 Philip Pettit: Two Fallacies about Corporations
23 Jerry Davis: Corporate Power In The 21st Century
24 Michael Fuerstein: Contesting The Market: An Assessment Of Capitalism's Threat To Democracy
25 Julie Battilana: Recasting The Corporate Model: What Can Be Learned From Social Enterprises?
26 Bertrand Collomb: Trust and power
Discussion Summary - Power and Trust