A New Capitalism

Boardrooms across America are rethinking the role of purpose.

Fifty years after economist Milton Friedman famously argued that a firm’s main responsibility is to maximize returns for shareholders, boardrooms across America are rethinking the role of purpose. Many argue that corporations have broader responsibilities and must demonstrate the value they create for employees, the environment, and the society in which they exist. Beyond platitudes, will investors allow such a shift in corporate purpose and practice — after the decades-long supremacy of profits and share price? How do firms and investors measure success apart from financials and design long-term strategic goals that embrace the complexity of now? We will listen to scholars, leaders, and activists who are assessing the risks and defining what this new capitalism could look like.

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