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Reimagining Capitalism in a World on Fire
A renowned Harvard professor debunks prevailing orthodoxy with a new intellectual foundation and a practical pathway forward for a system that has lost its moral and ethical foundation.
Free market capitalism is one of humanity's greatest inventions and the greatest source of prosperity the world has ever seen. But this success has been costly. Capitalism is on the verge of destroying the planet and destabilizing society as wealth rushes to the top. The time for action is running short.
Rebecca Henderson's rigorous research in economics, psychology, and organizational behavior, as well as her many years of work with companies around the world, give us a path forward. She debunks the worldview that the only purpose of business is to make money and maximize shareholder value. She shows that we have failed to reimagine capitalism so that it is not only an engine of prosperity but also a system that is in harmony with environmental realities, the striving for social justice, and the demands of truly democratic institutions.
Henderson's deep understanding of how change takes place, combined with fascinating in-depth stories of companies that have made the first steps towards reimagining capitalism, provide inspiring insight into what capitalism can be. Together with rich discussions of important role of government and how the worlds of finance, governance, and leadership must also evolve, Henderson provides the pragmatic foundation for navigating a world faced with unprecedented challenge, but also with extraordinary opportunity for those who can get it right.
Free market capitalism is one of humanity's greatest inventions and the greatest source of prosperity the world has ever seen. But this success has been costly. Capitalism is on the verge of destroying the planet and destabilizing society as wealth rushes to the top. The time for action is running short.
Rebecca Henderson's rigorous research in economics, psychology, and organizational behavior, as well as her many years of work with companies around the world, give us a path forward. She debunks the worldview that the only purpose of business is to make money and maximize shareholder value. She shows that we have failed to reimagine capitalism so that it is not only an engine of prosperity but also a system that is in harmony with environmental realities, the striving for social justice, and the demands of truly democratic institutions.
Henderson's deep understanding of how change takes place, combined with fascinating in-depth stories of companies that have made the first steps towards reimagining capitalism, provide inspiring insight into what capitalism can be. Together with rich discussions of important role of government and how the worlds of finance, governance, and leadership must also evolve, Henderson provides the pragmatic foundation for navigating a world faced with unprecedented challenge, but also with extraordinary opportunity for those who can get it right.
336 pages, Hardcover
First published April 28, 2020
444 people are currently reading
4768 people want to read
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May 25, 2021
Worst book of 2020. I disliked this book so much that it actually concerned me a little bit.
This book is bad business fanfiction and anyone who reads it is probably worse off for having done so. Someone told Rebecca Henderson “shoot for the moon, even if you miss you’ll land among the stars.“ So she tried to write a book about “reinventing capitalism“ but instead of landing among the stars or on the moon, her book exploded during takeoff. She doesn't reimagine capitalism. She can barely reimagine empty platitudes about "purpose" and "innovation." It’s written in a style that consistently obfuscates the bullshit of the actual points made with complicated writing and fancy words. I lost hair reading this book. I lost brain cells. And I lost a lot of respect for Harvard Business School for having this author on staff. This book is almost entirely rubbish.
I expect a lot more from a “renowned HBS professor.” If the content of this book is one of the “most popular electives'' at Harvard Business School, no wonder the world is in such dire straits. There are people thirsting for answers to questions around capitalism and ethics, and this drivel is what they get instead. The major contention of this book is “if everyone does the right thing. We will all make more money and the world will heal. It would be so beautiful and we could all hold hands and sing kumbyah.” It’s a self confirming worldview that business is fine, it just needs a few tweaks and thoughtful meetings to solve major problems. Which is convenient because the author then turns around and sells her advice for tens of thousands of dollars in consulting fees. It’s a good hustle if you can swing it. My consulting advice is to save your money and hire a clown that does balloon animals. The slowly deflating giraffes and wiener dogs will be more valuable than any advice this author has to give.
Rebecca uses her experience as a consultant to fortune 500 companies and her late night reading of some Wikipedia entries to flush out her points. There’s a lot of sugar plums and “wouldn’t it be nice” but almost no actual instances she can point to as a template for reinventing capitalism or improving the system of economics we already have. The funny bit is that the majority of her examples actively undermine her points. The points that she does make are weak and rely upon a lot of magical handwaving to solve problems. I think most of the value in this book is as an example of just how far some peoples heads can fit up their own ass. Her best persuasive arguments rely upon something I’m gonna call the “think about how nice it would be if...“ Rhetorical device. If Harvard is supposed to be a premier institution, and this is what they’re teaching there, I think we all should just give up. Pack it in folks, we’re fucked.
To give credit where it’s due, I thought her identification of problems facing the business world was well thought out. Unfortunately, her conclusions and nearly everything else in the book is trash. Much of it reads like the undigested thoughts of someone in a Benadryl induced haze, making connections and using examples only she understands.
She says no less than three times “you probably think I’m drinking too much of that purpose flavored Kool-Aid“ and the answer is "Yes she has." By the end of the book, I’m pretty sure her diet is 90% Kool-Aid, likely with some grain alcohol mixed in. Her discussion of “purpose driven firms” is the the type of mba hogwash that makes people hate mba’s. “Purpose” in work is a form of gaslighting used to trick you into giving up as much personal energy and creativity as possible. Her prime example reinforces this point. She talks at length about King Arthur Flour building community and inspiring its workers. Do we really think that the distribution of flour, an undifferentiated commodity, is really what people were meant to be doing? Are people finding deep meaningful purpose in their shipping of crushed wheat? Or is it more likely that management telling people their distribution of flour is “changing lives“ is a ploy to raise morale and productivity. All the while conveniently ignoring millions of people starving in England and abroad. They aren't looking to solve that problem, or childhood nutritional defiects. No their "purpose" is to make fun cooking videos. It sounds like “purpose driven work” is convincing those lucky privileged few who managed to score a job at the flour company that their marketing reports mean something. Because to me it seems like dancing in the rain while those closer to the rising banks of the river drown.
The meat of this book contains a bunch of made up nonsense talk about how businesses don’t need to be regulated because they will, out of their self interest, do what’s right for humanity. How what is right for humanity is also good for business. Rebecca spends a lot of time providing examples of how she worked with X company or Y investor, but very little actual meat of what was accomplished. At one part she points to the money that people save from shopping at Wal-Mart as proof of how they are focused on the plight of small town people. Who believes this? Norway (the country) refused investment from Walmart because of their labor practices. Human Rights Watch has labeled Walmart as a company that “Denies Workers Basic Rights“ and said “After hearing workers’ concerns about terms and conditions of employment at Wal-Mart and reviewing numerous claims of US employment law violations against the company, Human Rights Watch asked workers why they remain with the company. Many responded that they fear they would be unable to find jobs elsewhere.” I actually recommend reading their findings from 2007 before reading this book. (https://www.hrw.org/reports/2007/us05...) I don’t know what world this author lives in, but it doesn’t bear much resemblance to the one where I live.
The mental gymnastics performed to make these examples work are Olympic. At one point she describes how private partnership’s can enact change, describing a group of businessmen who wanted to reduce air pollution around the Chicago world’s fair in 1893. She talks about how much the air pollution was affecting business profits, how public health was impacted, and concludes her point by saying, “Chicago didn’t effectively address its air pollution problems until the 1960s.“ Effectively undermining the several previous pages of “evidence“ that she has put together. I just can’t with this book. 57 years of air pollution! That’s what private partnerships can do! What a shining example.
She continues the whitewashing of corporate practices for most of the book. Cherrypicking examples from companies such as Lipton Tea who "no longer uses slaves or child labor." Except the bar she sets is essentially one of "do the minimum required to be able to market your 'ethical practices.'" Y’all remember that little company called the east India trading company. They ultimately did the right things in the global interest of humanity didn’t they? How about other huge businesses over the past 300 years? Tons of historical precedent to support her thesis, except there isn’t. She actually quotes a “historian” on page 151 saying, “His view was that industrialists have often used self-regulation merely to diffuse the threat of government regulation and to disadvantage smaller firms and potential entrants, rather than to make fundamental change, and that in general self-regulation is rarely effective except in the shadow of government regulation.” She responds to this criticism with “But desperate times call for desperate measures.” (Page 151). You cant make this up.
It’s not good when a quote from one of your sources contradicts your whole book and you respond by saying, “yolo.” The rest of the book doesn’t get better. She talks about how companies want to do the right thing while in the same breath talking about how Unilever, only after pressure from Greenpeace, started changing their corporate practices in regards to palm oil, concluding that, “palm oil cultivation continues to be a major driver of deforestation.... The industry’s self-regulatory efforts have increased the odds that these partnerships will succeed, but the situation is still very much in flux. (Page 156).” Two quick bits about this, Greenpeace is regularly arrested in their pursuit of activism. So that means part of the business ecosystem Rebecca proposes is to have a situation where the only recourse people feel against large corporations is to be publicly arrested while protesting them. Second, If I wanted to read bullshit about how hard it is to have an ethical multi-national supply chain, I would beat my head against my desk until I lost enough brain cells to be able to comprehensively understand and believe in Mark Zuckerberg’s Senate testimony. I get that it’s hard to have an ethical multinational supply chain, however the premise of this book is that it reimagines things so that we can feel comfortable living in a better world. Essentially this chapter (chapter 6) just simply wasted my life. I felt Adam Smith roll over in his grave so many times that he started spinning. If we were smart, we could use him as a source of renewable energy if one would attach a series of pulleys to his feet and tie it to a windmill.
After that is a talk about how individual investors struggle to perform public services and just how difficult it is to invest in the interest of the public. Investors don’t want to deal with the scenario of them doing the right thing and other companies taking a free ride. She keeps calling it a “public goods problem”. And then, acting like a surprised child who has created a mess, “whatever could we do about this” she says, “it’s so hard for poor businesses.” I almost threw my copy of this library book across the room. If only there was some sort of structure that maybe people could create to regulate the markets. If only it we could perhaps pool our small individual influences into a larger let’s say, governing body? And what if that governing body could enact rules, let’s call them laws, that discourage bad behavior and encourage good behavior. What a concept. Too bad that’ll never happen. Oh wait.
I’ll be the first to agree, government isn’t the greatest, there’s plenty of flaws, but throwing your hands up in the air at “how difficult it will be for companies to do the right thing” In a book like this seems close to malpractice. If we’re going to get really groovy for a second, I think a lot of this starts with campaign-finance reform but, that’s an argument for another day. This isn’t some novel problem unbeknownst to man. We have encountered issues between business and the public good before. We don’t have to burn down the whole system, we don’t have to guillotine the rich, and we don’t have to reinvent government supervision. We just have to use the tools and institutions available to us in a better way. Where are the trustbusters, where is the oversight? the resources are there, they just being used poorly. When the author does briefly touched upon government regulation, she uses it as a sort of magic wand, maybe a release valve for the pressure buildup of her concentrated and fermented bullshit. There is this “Kumbaya and everything is solved” aspect to it that just doesn’t make any sense to someone who has The most middling of backgrounds working near the government.
Idiots like this author would propose that it’s “noble work” wringing your hands about these problems. I actually think this book is bad enough that reading it represents a detrimental impact on anyone who wants to do good in the world. The author is so congratulatory towards indecent actors that listening to her would mix up the moral compass of any impressionable youth. Her effectiveness is thankfully limited by her lack of imagination. She seems like the type of person who sends a few calender invites, tweets a few empty platitudes, and cracks open a beer to reward herself for her “hard work.” Instead of wasting your life reading this book, go do something useful like arguing with a lamp post. I don’t know, I feel dumber for having read this.
This book is bad business fanfiction and anyone who reads it is probably worse off for having done so. Someone told Rebecca Henderson “shoot for the moon, even if you miss you’ll land among the stars.“ So she tried to write a book about “reinventing capitalism“ but instead of landing among the stars or on the moon, her book exploded during takeoff. She doesn't reimagine capitalism. She can barely reimagine empty platitudes about "purpose" and "innovation." It’s written in a style that consistently obfuscates the bullshit of the actual points made with complicated writing and fancy words. I lost hair reading this book. I lost brain cells. And I lost a lot of respect for Harvard Business School for having this author on staff. This book is almost entirely rubbish.
I expect a lot more from a “renowned HBS professor.” If the content of this book is one of the “most popular electives'' at Harvard Business School, no wonder the world is in such dire straits. There are people thirsting for answers to questions around capitalism and ethics, and this drivel is what they get instead. The major contention of this book is “if everyone does the right thing. We will all make more money and the world will heal. It would be so beautiful and we could all hold hands and sing kumbyah.” It’s a self confirming worldview that business is fine, it just needs a few tweaks and thoughtful meetings to solve major problems. Which is convenient because the author then turns around and sells her advice for tens of thousands of dollars in consulting fees. It’s a good hustle if you can swing it. My consulting advice is to save your money and hire a clown that does balloon animals. The slowly deflating giraffes and wiener dogs will be more valuable than any advice this author has to give.
Rebecca uses her experience as a consultant to fortune 500 companies and her late night reading of some Wikipedia entries to flush out her points. There’s a lot of sugar plums and “wouldn’t it be nice” but almost no actual instances she can point to as a template for reinventing capitalism or improving the system of economics we already have. The funny bit is that the majority of her examples actively undermine her points. The points that she does make are weak and rely upon a lot of magical handwaving to solve problems. I think most of the value in this book is as an example of just how far some peoples heads can fit up their own ass. Her best persuasive arguments rely upon something I’m gonna call the “think about how nice it would be if...“ Rhetorical device. If Harvard is supposed to be a premier institution, and this is what they’re teaching there, I think we all should just give up. Pack it in folks, we’re fucked.
To give credit where it’s due, I thought her identification of problems facing the business world was well thought out. Unfortunately, her conclusions and nearly everything else in the book is trash. Much of it reads like the undigested thoughts of someone in a Benadryl induced haze, making connections and using examples only she understands.
She says no less than three times “you probably think I’m drinking too much of that purpose flavored Kool-Aid“ and the answer is "Yes she has." By the end of the book, I’m pretty sure her diet is 90% Kool-Aid, likely with some grain alcohol mixed in. Her discussion of “purpose driven firms” is the the type of mba hogwash that makes people hate mba’s. “Purpose” in work is a form of gaslighting used to trick you into giving up as much personal energy and creativity as possible. Her prime example reinforces this point. She talks at length about King Arthur Flour building community and inspiring its workers. Do we really think that the distribution of flour, an undifferentiated commodity, is really what people were meant to be doing? Are people finding deep meaningful purpose in their shipping of crushed wheat? Or is it more likely that management telling people their distribution of flour is “changing lives“ is a ploy to raise morale and productivity. All the while conveniently ignoring millions of people starving in England and abroad. They aren't looking to solve that problem, or childhood nutritional defiects. No their "purpose" is to make fun cooking videos. It sounds like “purpose driven work” is convincing those lucky privileged few who managed to score a job at the flour company that their marketing reports mean something. Because to me it seems like dancing in the rain while those closer to the rising banks of the river drown.
The meat of this book contains a bunch of made up nonsense talk about how businesses don’t need to be regulated because they will, out of their self interest, do what’s right for humanity. How what is right for humanity is also good for business. Rebecca spends a lot of time providing examples of how she worked with X company or Y investor, but very little actual meat of what was accomplished. At one part she points to the money that people save from shopping at Wal-Mart as proof of how they are focused on the plight of small town people. Who believes this? Norway (the country) refused investment from Walmart because of their labor practices. Human Rights Watch has labeled Walmart as a company that “Denies Workers Basic Rights“ and said “After hearing workers’ concerns about terms and conditions of employment at Wal-Mart and reviewing numerous claims of US employment law violations against the company, Human Rights Watch asked workers why they remain with the company. Many responded that they fear they would be unable to find jobs elsewhere.” I actually recommend reading their findings from 2007 before reading this book. (https://www.hrw.org/reports/2007/us05...) I don’t know what world this author lives in, but it doesn’t bear much resemblance to the one where I live.
The mental gymnastics performed to make these examples work are Olympic. At one point she describes how private partnership’s can enact change, describing a group of businessmen who wanted to reduce air pollution around the Chicago world’s fair in 1893. She talks about how much the air pollution was affecting business profits, how public health was impacted, and concludes her point by saying, “Chicago didn’t effectively address its air pollution problems until the 1960s.“ Effectively undermining the several previous pages of “evidence“ that she has put together. I just can’t with this book. 57 years of air pollution! That’s what private partnerships can do! What a shining example.
She continues the whitewashing of corporate practices for most of the book. Cherrypicking examples from companies such as Lipton Tea who "no longer uses slaves or child labor." Except the bar she sets is essentially one of "do the minimum required to be able to market your 'ethical practices.'" Y’all remember that little company called the east India trading company. They ultimately did the right things in the global interest of humanity didn’t they? How about other huge businesses over the past 300 years? Tons of historical precedent to support her thesis, except there isn’t. She actually quotes a “historian” on page 151 saying, “His view was that industrialists have often used self-regulation merely to diffuse the threat of government regulation and to disadvantage smaller firms and potential entrants, rather than to make fundamental change, and that in general self-regulation is rarely effective except in the shadow of government regulation.” She responds to this criticism with “But desperate times call for desperate measures.” (Page 151). You cant make this up.
It’s not good when a quote from one of your sources contradicts your whole book and you respond by saying, “yolo.” The rest of the book doesn’t get better. She talks about how companies want to do the right thing while in the same breath talking about how Unilever, only after pressure from Greenpeace, started changing their corporate practices in regards to palm oil, concluding that, “palm oil cultivation continues to be a major driver of deforestation.... The industry’s self-regulatory efforts have increased the odds that these partnerships will succeed, but the situation is still very much in flux. (Page 156).” Two quick bits about this, Greenpeace is regularly arrested in their pursuit of activism. So that means part of the business ecosystem Rebecca proposes is to have a situation where the only recourse people feel against large corporations is to be publicly arrested while protesting them. Second, If I wanted to read bullshit about how hard it is to have an ethical multi-national supply chain, I would beat my head against my desk until I lost enough brain cells to be able to comprehensively understand and believe in Mark Zuckerberg’s Senate testimony. I get that it’s hard to have an ethical multinational supply chain, however the premise of this book is that it reimagines things so that we can feel comfortable living in a better world. Essentially this chapter (chapter 6) just simply wasted my life. I felt Adam Smith roll over in his grave so many times that he started spinning. If we were smart, we could use him as a source of renewable energy if one would attach a series of pulleys to his feet and tie it to a windmill.
After that is a talk about how individual investors struggle to perform public services and just how difficult it is to invest in the interest of the public. Investors don’t want to deal with the scenario of them doing the right thing and other companies taking a free ride. She keeps calling it a “public goods problem”. And then, acting like a surprised child who has created a mess, “whatever could we do about this” she says, “it’s so hard for poor businesses.” I almost threw my copy of this library book across the room. If only there was some sort of structure that maybe people could create to regulate the markets. If only it we could perhaps pool our small individual influences into a larger let’s say, governing body? And what if that governing body could enact rules, let’s call them laws, that discourage bad behavior and encourage good behavior. What a concept. Too bad that’ll never happen. Oh wait.
I’ll be the first to agree, government isn’t the greatest, there’s plenty of flaws, but throwing your hands up in the air at “how difficult it will be for companies to do the right thing” In a book like this seems close to malpractice. If we’re going to get really groovy for a second, I think a lot of this starts with campaign-finance reform but, that’s an argument for another day. This isn’t some novel problem unbeknownst to man. We have encountered issues between business and the public good before. We don’t have to burn down the whole system, we don’t have to guillotine the rich, and we don’t have to reinvent government supervision. We just have to use the tools and institutions available to us in a better way. Where are the trustbusters, where is the oversight? the resources are there, they just being used poorly. When the author does briefly touched upon government regulation, she uses it as a sort of magic wand, maybe a release valve for the pressure buildup of her concentrated and fermented bullshit. There is this “Kumbaya and everything is solved” aspect to it that just doesn’t make any sense to someone who has The most middling of backgrounds working near the government.
Idiots like this author would propose that it’s “noble work” wringing your hands about these problems. I actually think this book is bad enough that reading it represents a detrimental impact on anyone who wants to do good in the world. The author is so congratulatory towards indecent actors that listening to her would mix up the moral compass of any impressionable youth. Her effectiveness is thankfully limited by her lack of imagination. She seems like the type of person who sends a few calender invites, tweets a few empty platitudes, and cracks open a beer to reward herself for her “hard work.” Instead of wasting your life reading this book, go do something useful like arguing with a lamp post. I don’t know, I feel dumber for having read this.
November 30, 2020
You know that feeling when something amazing is about to happen? The music is building and your nerves are on fire and you're so close, teetering on the edge-- and then nothing. Cliffhanger ending, series cancellation, batteries died. You can feel it in your teeth. This book is that, for socialism.
I hate-read this book. I knew I wouldn't agree with it from the moment I read the blurb - "Capitalism is the greatest source of prosperity the world has ever seen." - and I was not disappointed. The author is clearly smart, the book is very well written and argued, but it misses the point by a hairs breadth. Or by an ocean, depending on how you look at it.
To write, of climate change, that "It is going to be hard to make money if the major coastal cities are underwater", is to spectacularly miss the point that the major coastal cities are underwater. If you think that you can price up a life, thousands of lives, and enter them into a cost/benefit risk analysis, you are my enemy. That is not what people are.
And again, to say "Billions of people lack access to education, healthcare and the chance of a decent job, while advances in robotics and AI threatens to throw millions out of work" is true, but it misses the fundamental truth that AI is not a threat, worklessness is not a threat, if being out of a job was not tantamount to a death sentence under capitalism.
This book is trying to convince you that companies should try to be for Good, as well as for profit. But it's a false dichotomy. There is no need to build profitable firms at all if we can live in a post-scarcity world. Which we can - capitalism just doesn't want to.
If you can break away from the idea that capitalism is a fixed constant, like the speed of light or pi, then you can immediately see what is wrong with this book. We don't have to accept the distorted, abusive version of society that capitalism gives us. We can be better. We just have to stop writing books like this and calling them enough.
I hate-read this book. I knew I wouldn't agree with it from the moment I read the blurb - "Capitalism is the greatest source of prosperity the world has ever seen." - and I was not disappointed. The author is clearly smart, the book is very well written and argued, but it misses the point by a hairs breadth. Or by an ocean, depending on how you look at it.
To write, of climate change, that "It is going to be hard to make money if the major coastal cities are underwater", is to spectacularly miss the point that the major coastal cities are underwater. If you think that you can price up a life, thousands of lives, and enter them into a cost/benefit risk analysis, you are my enemy. That is not what people are.
And again, to say "Billions of people lack access to education, healthcare and the chance of a decent job, while advances in robotics and AI threatens to throw millions out of work" is true, but it misses the fundamental truth that AI is not a threat, worklessness is not a threat, if being out of a job was not tantamount to a death sentence under capitalism.
This book is trying to convince you that companies should try to be for Good, as well as for profit. But it's a false dichotomy. There is no need to build profitable firms at all if we can live in a post-scarcity world. Which we can - capitalism just doesn't want to.
If you can break away from the idea that capitalism is a fixed constant, like the speed of light or pi, then you can immediately see what is wrong with this book. We don't have to accept the distorted, abusive version of society that capitalism gives us. We can be better. We just have to stop writing books like this and calling them enough.
May 15, 2020
I am a big fan of Professor Henderson's paper on Architectural innovation (Henderson and Clark 1990), but unfortunately this book fails to convince me that a business-led change can work. Even the most progressive-minded corporate executives face constraints due to their positions in a capitalistic system: either maximize profit, or lose to competitors and get fired by the board. While the book provides cases of firms that managed to increase profit by going green via architectural innovation, (1) I doubt that most firms are willing to take the risk and undergo such transformation (2) there are constraints on how "green" firms can go without falling apart or losing to competitors. Without an external force (the government) to alter the rules of the game and change the incentives to innovate, appealing to moral values alone cannot go very far.
A political change is necessary before private efforts can become truly effective. As desperate as it sounds, it's the only way.
A political change is necessary before private efforts can become truly effective. As desperate as it sounds, it's the only way.
April 12, 2021
I thought I was going to like this book but it came up short on a lot of levels. I got about 2/3rds through it but had to put it down. Once Henderson started raving on how good of a job Walmart does at conservation and waste reduction I started to realize that she's probably just a corporate shill with an unrealistic view of how things in the world can be improved.
Read
October 18, 2022İlk çevirim, okuru bol olsun 🤭
November 12, 2020
A lame attempt to resurrect capitalism from its ashes. Capitalism is anti-democracy, capitalism is oppressive, capitalism is destructive. It cannot be saved. It cannot be "re-imagined". Capitalists need to be taxed out of existence. The economy must be done by people, and must be owned by workers. No more ruling class. One worker = one share = one vote. Democracy at work. Socialized wealth. Pay gap 1:6 maximum from lowest paid to CEO.
The stories from the book are ludicrous. Aetna? Really? An example of "good capitalism"? Private insurance must disappear and become illegal. Walmart? Really? The plutocrat Walmart family must be taxed out of their billions. Nationalize Walmart and transform it into local cooperatives. That's how you "reimagine" the system. Capitalism must end now! Period.
Nationalize Walmart:
https://youtu.be/kE0O0owPouE
The stories from the book are ludicrous. Aetna? Really? An example of "good capitalism"? Private insurance must disappear and become illegal. Walmart? Really? The plutocrat Walmart family must be taxed out of their billions. Nationalize Walmart and transform it into local cooperatives. That's how you "reimagine" the system. Capitalism must end now! Period.
Nationalize Walmart:
https://youtu.be/kE0O0owPouE
This entire review has been hidden because of spoilers.
July 11, 2020
A must read for our time. I’m inspired by the author’s commitment to a shared value growth model for business and being unsympathetic about it. I agree with this blueprint for a path to a better, sustainable and regenerative future for all people and living beings.
April 22, 2021
- no original thoughts or innovative solutions
- offers only platitudes and cherry picked case studies and often contradicts herself
- most touching part of the book was totally unrelated to reimagining capitalism
- made me realize that what’s outlined in this book tells us how NOT to reimagine capitalism
- made me deeply question business’ role in development and sustainability
- glad to read it though and understand rick’s 1 star review.
- offers only platitudes and cherry picked case studies and often contradicts herself
- most touching part of the book was totally unrelated to reimagining capitalism
- made me realize that what’s outlined in this book tells us how NOT to reimagine capitalism
- made me deeply question business’ role in development and sustainability
- glad to read it though and understand rick’s 1 star review.
August 14, 2020
How to reimagine capitalism? From a Harvard Professor teaching MBA students:
1. Find value: a Norwegian recycling company found that proper recycling (rather than dumping waste illegally) generated high value recycled steel and other useful products, improving profits!
2. Investor activism: BlackRock demands the businesses they invest in has sustainable practices, not making profits by creating negative externalities.
3. Greenpeace: exposed polluting palm oil practices in Malaysia and Indonesia that were killing orang-utans. Create industry-wide monitoring organisations. They succeeded but those countries are still losing rain forests.
4. Work with governments to have standards, regulations and the stick.
5. Media: Nike’s third world Contractors were exposed to use child labour. Now it is the leader in responsible capitalism.
6. Form industry-specific watch groups, set standards to allow branding so that consumers would know which companies to support.
7. Consumers must support sustainable, conscious capitalism by choosing those that are responsible. Switch off unused lighting; insulate our homes; bring recyclable shopping bags; change to energy saving lights; install solar panels; do conference calls rather than travel; support local farmers.
If all of us support businesses that are responsible, soon all the businesses will follow. A great book!
1. Find value: a Norwegian recycling company found that proper recycling (rather than dumping waste illegally) generated high value recycled steel and other useful products, improving profits!
2. Investor activism: BlackRock demands the businesses they invest in has sustainable practices, not making profits by creating negative externalities.
3. Greenpeace: exposed polluting palm oil practices in Malaysia and Indonesia that were killing orang-utans. Create industry-wide monitoring organisations. They succeeded but those countries are still losing rain forests.
4. Work with governments to have standards, regulations and the stick.
5. Media: Nike’s third world Contractors were exposed to use child labour. Now it is the leader in responsible capitalism.
6. Form industry-specific watch groups, set standards to allow branding so that consumers would know which companies to support.
7. Consumers must support sustainable, conscious capitalism by choosing those that are responsible. Switch off unused lighting; insulate our homes; bring recyclable shopping bags; change to energy saving lights; install solar panels; do conference calls rather than travel; support local farmers.
If all of us support businesses that are responsible, soon all the businesses will follow. A great book!
October 4, 2021
I did not choose this book. It was a requirement for a class. However, it earns a review for being hopefully the worst thing I read in 2021. I had fun writing this. You can read Rick’s review below for a hilarious in-depth analysis of all the way this book was trash, but here were my notes.
1. I’ve never read a book with more fallacies in my life. I want to send this to my 8th grade English teacher so she can use it as an example of literally all the ways to not win an argument. It’s pathos-city up in here.
2. Her solution is for everyone to stop loving money and love each other instead. Good one, Becky. Of course if every corporation stopped loving money and cared more about their employees, the world would be a better place.
3. “A lot of evidence shows…” followed by a whopping heap of no evidence.
4. The part that really got me- I laughed, I sighed, I said “lol wut” - the last chapter… the whole chapter is weird and randomly philosophical as heck, but “live life to the full” and “everybody dies but not everybody lives” and “look for me in the rain” and “I’m Buddhist… we don’t exist?” I had to re-read it because I wasn’t sure if somehow I accidentally picked up the Tipitaka… I was that woman in the gif of math equations swirling around her head. If we don’t exist, then neither does capitalism, or climate change, or any of the hundred million corporations she studied… and neither does this book? I mean, I wish it didn’t exist, but… I am holding it in my hand… and I rolled my eyes while looking at it quite a few times… that is, if I have eyes.
Thats all. Enjoy not reading this book as we all continue struggling to figure out exactly how to reimagine capitalism at our next Kumbaya circle.
1. I’ve never read a book with more fallacies in my life. I want to send this to my 8th grade English teacher so she can use it as an example of literally all the ways to not win an argument. It’s pathos-city up in here.
2. Her solution is for everyone to stop loving money and love each other instead. Good one, Becky. Of course if every corporation stopped loving money and cared more about their employees, the world would be a better place.
3. “A lot of evidence shows…” followed by a whopping heap of no evidence.
4. The part that really got me- I laughed, I sighed, I said “lol wut” - the last chapter… the whole chapter is weird and randomly philosophical as heck, but “live life to the full” and “everybody dies but not everybody lives” and “look for me in the rain” and “I’m Buddhist… we don’t exist?” I had to re-read it because I wasn’t sure if somehow I accidentally picked up the Tipitaka… I was that woman in the gif of math equations swirling around her head. If we don’t exist, then neither does capitalism, or climate change, or any of the hundred million corporations she studied… and neither does this book? I mean, I wish it didn’t exist, but… I am holding it in my hand… and I rolled my eyes while looking at it quite a few times… that is, if I have eyes.
Thats all. Enjoy not reading this book as we all continue struggling to figure out exactly how to reimagine capitalism at our next Kumbaya circle.
December 24, 2020
Reimagining Capitalism in a World on Fire brought me back to my economic development days when I read book after book preaching the importance of equity, strong institutions, and a guiding purpose. Henderson distills these economic theories into an easy to understand micro-level guide on how businesses can make these changes themselves. Henderson specifically focuses on preventing climate change, reducing inequality, and strengthening the pillars of democracy.
Henderson's basic argument is that capitalism as is contains fundamental flaws that prioritize short-term gain over long-term sustainability. Businesses' focus on profit maximization leads to perverse incentives where leaders focus more on meeting short-term earnings targets than long-term strategy. Current accounting does not factor in the externalities created by pollution, erosion of democracy, and economic inequality. This means that businesses can pollute and destroy communities without having to worry about paying for it since we as a society will eventually be picking up the bill. Businesses are also incentivized to weaken government power in order to maximize their profits. They lobby and spend millions to reduce regulations meant to protect consumers, leading to lower overall wellbeing which ends up being paid for by society.
Henderson then offers five solutions to help transform capitalism into a more positive force for change: imbue your organization with a purpose for good, create shared value so stakeholders can see the economic benefit of your purpose, rewire finance to focus on long-term sustainability rather than short-term profit maximization, self-regulate by pressuring competitors to act more sustainably or risk consumer backlash, and build inclusive cultures so everyone has the opportunity to benefit from the economic success from your organization.
Overall, I really enjoyed this read and found it to be extremely thought-provoking. I especially appreciated the section on ESG-related accounting changes and how companies were not shouldering their fair share of costs produced. It helped me understand the idea of a carbon tax and why it might be necessary. I recommend this book for anyone wanting to learn more about how capitalism can be used for good and why economic reform may be necessary in these 'uncertain times.'
Henderson's basic argument is that capitalism as is contains fundamental flaws that prioritize short-term gain over long-term sustainability. Businesses' focus on profit maximization leads to perverse incentives where leaders focus more on meeting short-term earnings targets than long-term strategy. Current accounting does not factor in the externalities created by pollution, erosion of democracy, and economic inequality. This means that businesses can pollute and destroy communities without having to worry about paying for it since we as a society will eventually be picking up the bill. Businesses are also incentivized to weaken government power in order to maximize their profits. They lobby and spend millions to reduce regulations meant to protect consumers, leading to lower overall wellbeing which ends up being paid for by society.
Henderson then offers five solutions to help transform capitalism into a more positive force for change: imbue your organization with a purpose for good, create shared value so stakeholders can see the economic benefit of your purpose, rewire finance to focus on long-term sustainability rather than short-term profit maximization, self-regulate by pressuring competitors to act more sustainably or risk consumer backlash, and build inclusive cultures so everyone has the opportunity to benefit from the economic success from your organization.
Overall, I really enjoyed this read and found it to be extremely thought-provoking. I especially appreciated the section on ESG-related accounting changes and how companies were not shouldering their fair share of costs produced. It helped me understand the idea of a carbon tax and why it might be necessary. I recommend this book for anyone wanting to learn more about how capitalism can be used for good and why economic reform may be necessary in these 'uncertain times.'
April 24, 2021
A 4.5 stars read*. I have read this book as part of my Sustainability Honours programme at Amsterdam Business School and I'm *thrilled* that a book like this is part of the curriculum. Over the last few years, I've been intensively learning about the true extent to which we live an unsustainable life and the apocalyptic scenarios awaiting us and future generations if we don't reverse the pace. However, all this grim and bleak info quickly built up and made me feel hopeless. I think the timing could not have been better for me to read Rebecca Henderson's book. I underlined a lot of quotes and paragraphs and definitely found the final 10 pages to be the push I needed to find my motivation and drive again.
*The book does focus a lot on business case studies from the Global North, but the lessons derived are full of insights which should be fit to be applicable worldwide.
LE: I do find it increasingly harder to sit with Henderson's optimism. While it is much needed, I am afraid a lot of the changes she is discussing about won't happen (in time).
*The book does focus a lot on business case studies from the Global North, but the lessons derived are full of insights which should be fit to be applicable worldwide.
LE: I do find it increasingly harder to sit with Henderson's optimism. While it is much needed, I am afraid a lot of the changes she is discussing about won't happen (in time).
May 23, 2020
For a long time, I've been pessimistic about the future of the planet and feel powerless to make any significant change. This book shows me how this mindset is not necessarily right, by showing examples of purpose-driving companies, sustainability-driven financial metrics, countries that have achieved long-term sustainable economic growth by sacrificing immediate benefits. Moreover, it shows how each individual can make a difference in our daily lives and our seemingly ordinary roles.
Indeed, those individual acts are small, but eventually "we are all pebbles in an avalanche of change." It was a great journey reading this very well-researched books talking about the most important problem we face.
Indeed, those individual acts are small, but eventually "we are all pebbles in an avalanche of change." It was a great journey reading this very well-researched books talking about the most important problem we face.
February 20, 2021
Insightful, practical and optimistic!
I had first come across Rebecca in a GIIN podcast in summer of 2020 promoting this book. Frankly I felt she was super American (ironically she is originally English) in her optimism towards the private sector being more purpose driven.
This book however is not just about that optimism and the private sector- it is flooded with well researched examples and case studies to back up ESG/impact values. However more so and very importantly it moves from how govt and business must be real partners to engineer solutions together, and the practical role of the individual.
Powerful book and a must read for every change maker.
I had first come across Rebecca in a GIIN podcast in summer of 2020 promoting this book. Frankly I felt she was super American (ironically she is originally English) in her optimism towards the private sector being more purpose driven.
This book however is not just about that optimism and the private sector- it is flooded with well researched examples and case studies to back up ESG/impact values. However more so and very importantly it moves from how govt and business must be real partners to engineer solutions together, and the practical role of the individual.
Powerful book and a must read for every change maker.
March 6, 2020
If you're lookung for suggestions about how individuals can impact climate change and suggestions for one's mid-level boss, this is not it. But it is an excellent summary of how a lot of companies are doing a lot of things right for the planet and humanity. I found it uplifting, ultimately. I can only hope lots of business leaders read this take it to heart, and take massive action. Kudos to the author, who put together an excellent book. Highly recommended for readers seeking hope and leaders that are bold and brave. 4.5 stars.
Thanks very much for the ARC for review!!
Thanks very much for the ARC for review!!
August 20, 2021
3.2
"Power and promise of development -- promise of a better future" I remembered this quote from Sir Leland while reading this book
After my first dev class, I became wary of capitalism as its cracks are clearly evident in our world now. Yet history has shown how we can't just skip capitalism all together, this MOP will definitely subsist in our lifetime. This book didn't shell out a lasting impact on me, though it was informative in a sense that it contained many case studies of companies that have been able to grow their business sustainably while still satisfying investors and making large returns. It is definitely possible but it isn't the status quo. The structures that keep wealth concentrated are still very much anchored and even with benefit corporations trying to trail blaze a path of sustainable business, I don't think it's enough but it's better than nothing. I still have a hard time believing in the process and promise of development, and I wasn't fully sold on the author's idea of development too which is mainly centered on lessening the power of investors, more accountability, government intervention etc. She just scratched the surface level of the issues of capitalism, there was no particularly strong stance on anything. She was pleasing both investors and employees but with the state of our world now, a more drastic and controversial critique is needed. A lot of what she mentioned also was obvious. The only informative parts were the case studies.
"Power and promise of development -- promise of a better future" I remembered this quote from Sir Leland while reading this book
After my first dev class, I became wary of capitalism as its cracks are clearly evident in our world now. Yet history has shown how we can't just skip capitalism all together, this MOP will definitely subsist in our lifetime. This book didn't shell out a lasting impact on me, though it was informative in a sense that it contained many case studies of companies that have been able to grow their business sustainably while still satisfying investors and making large returns. It is definitely possible but it isn't the status quo. The structures that keep wealth concentrated are still very much anchored and even with benefit corporations trying to trail blaze a path of sustainable business, I don't think it's enough but it's better than nothing. I still have a hard time believing in the process and promise of development, and I wasn't fully sold on the author's idea of development too which is mainly centered on lessening the power of investors, more accountability, government intervention etc. She just scratched the surface level of the issues of capitalism, there was no particularly strong stance on anything. She was pleasing both investors and employees but with the state of our world now, a more drastic and controversial critique is needed. A lot of what she mentioned also was obvious. The only informative parts were the case studies.
April 17, 2021
Can business make the world a better place? Building on examples Rebecca Henderson encountered during her career, she makes her case for what a reimagined capitalism can look like. She works out five pillars: creating shared value, developing purpose-driven organizations, rewiring finance, building cooperation, as well as rebuilding our institutions and fixing our governments.
The book gives a comprehensive overview of these important themes in sustainable management. With best and worst practice examples she makes her argument clear and understandable. However, this also makes the book superficial. In parts, it reads like a praise story on businesses and leaders who all want to save the world but are trapped in an imperfect system the prevents them from doing so.
Saying this, I missed an elaboration on the core problems of the capitalist system and more concrete ideas on how to change it. For example, the role of the universities training today’s managers was completely left out. The short-term view of the capital market is mentioned but not further elaborated. (The discussion summarizes in: It is bad, and we should do it differently).
Maybe this simplicity is necessary to make this book work for busy professionals who want to start making a difference. And if you are looking for a first overview, I highly recommend reading it. But if you are already invested in the topic, this book will teach you nothing new.
The book gives a comprehensive overview of these important themes in sustainable management. With best and worst practice examples she makes her argument clear and understandable. However, this also makes the book superficial. In parts, it reads like a praise story on businesses and leaders who all want to save the world but are trapped in an imperfect system the prevents them from doing so.
Saying this, I missed an elaboration on the core problems of the capitalist system and more concrete ideas on how to change it. For example, the role of the universities training today’s managers was completely left out. The short-term view of the capital market is mentioned but not further elaborated. (The discussion summarizes in: It is bad, and we should do it differently).
Maybe this simplicity is necessary to make this book work for busy professionals who want to start making a difference. And if you are looking for a first overview, I highly recommend reading it. But if you are already invested in the topic, this book will teach you nothing new.
May 23, 2021
Incredibly disappointing book. Henderson did some brilliant analysis of the key problems highlighted by capitalism, but fell short on solutions.
The key takeaways from the book were nothing revolutionary - if we want businesses to behave ethically, we must make unethical practice unprofitable. The most realistic ways she suggests this are through government policy and consumer action. What is so disappointing is how light she is on specifics. While she cherrypicks some scenarios (many of which undermine her own point - see other reviews for some specifics) it is hard to see how her solutions could apply on a wide scale.
The other worrying aspect for me is the huge weight placed on the consumer. The book is filled with examples of brands who only changed their ways once consumer backlash was so great that it affected their sales. The natural result of this book (and what the final chapter explicitly calls for) is to be more politically active, boycott unethical brands, protest, vote for progressive policies, and the list goes on. It all seems like depressingly relentless work for the consumer.
The key takeaways from the book were nothing revolutionary - if we want businesses to behave ethically, we must make unethical practice unprofitable. The most realistic ways she suggests this are through government policy and consumer action. What is so disappointing is how light she is on specifics. While she cherrypicks some scenarios (many of which undermine her own point - see other reviews for some specifics) it is hard to see how her solutions could apply on a wide scale.
The other worrying aspect for me is the huge weight placed on the consumer. The book is filled with examples of brands who only changed their ways once consumer backlash was so great that it affected their sales. The natural result of this book (and what the final chapter explicitly calls for) is to be more politically active, boycott unethical brands, protest, vote for progressive policies, and the list goes on. It all seems like depressingly relentless work for the consumer.
July 8, 2020
If something has served you well and then breaks, do you throw it in the garbage? Or, being the good environmentalist you are, do you instead try to fix it?
Modern capitalism is showing signs of wear. As a result, many people want to trash it in favour of something new. Henderson has written a book for the people out there who recognize that capitalism is the best economic system we've got, but who also think that its current American incarnation has some serious problems.
Is capitalism compatible with inclusive government? Income equality? Education & opportunity? A healthy environment? Henderson thinks "yes" and offers persuasive argument backed by case studies to encourage you to think so too. For me, this book was the perfect blend of conservative pragmatism and progressive optimism.
Modern capitalism is showing signs of wear. As a result, many people want to trash it in favour of something new. Henderson has written a book for the people out there who recognize that capitalism is the best economic system we've got, but who also think that its current American incarnation has some serious problems.
Is capitalism compatible with inclusive government? Income equality? Education & opportunity? A healthy environment? Henderson thinks "yes" and offers persuasive argument backed by case studies to encourage you to think so too. For me, this book was the perfect blend of conservative pragmatism and progressive optimism.
April 28, 2020
A small minded governmental bureaucrat going straight for the same argument in the last century : give himself more power and hopefully a bigger cut from the taxes collected by the State. At every page turn, as in the old zombie movies you don't hear "Braaaains!", but "Power!"
In itself the discourse is not original in any way. A century ago Bolsheviks were seizing the power and started systematically killing the peasants "for the common good". In 2020 this bureaucrat is ready to seize the power for the exact same illusory common good.
In itself the discourse is not original in any way. A century ago Bolsheviks were seizing the power and started systematically killing the peasants "for the common good". In 2020 this bureaucrat is ready to seize the power for the exact same illusory common good.
April 30, 2020
A bunch o fun facts on companies that managed to take envionmental or social action whilst getting more profitable. But to reimagine capitalism, as the title suggests, recquires more than mere anecdotes, and needs a framework that deals with theory, application on a grand scale, replicability, as well as an analysis for what's right, what's wrong, why is it that way, and how to change and replicate to other industries.
As a business case review, the book is fine, but the title has little to do with the content.
As a business case review, the book is fine, but the title has little to do with the content.
July 25, 2020
Professor Henderson writes engagingly and with a clear sense of hope. The book is filled with inspiring examples of people who saw a wrong or a need and found a way to address it. She makes an important point that the leaders we remember are so often people who just stepped out in front of a movement that was already underway at a grassroots level. Thus, don't wait for someone to wave the banner for change. Do what's right, wherever you are, and your action and example will spread. It helps if you bring friends along with you.
February 6, 2021
Really enjoyed this one.
The author, Rebecca Henderson, does a thorough job of explaining WHY we’re in the situation we’re in, but also sheds light on HOW we can move forward to a far better situation through many real-world examples. I also enjoyed how the author was very non-partisan throughout. It’s very easy to bring that added layer of complexity to a book like this, but she did a great job treading the line.
I would highly recommend this for anyone interested in making a difference in the world they live in.
The author, Rebecca Henderson, does a thorough job of explaining WHY we’re in the situation we’re in, but also sheds light on HOW we can move forward to a far better situation through many real-world examples. I also enjoyed how the author was very non-partisan throughout. It’s very easy to bring that added layer of complexity to a book like this, but she did a great job treading the line.
I would highly recommend this for anyone interested in making a difference in the world they live in.
July 17, 2020
Another book that should’ve been an article. Great in theory, but I’m not sure how you really change the underlying economic incentives to make her ideas work. Should private businesses have a more vested interest in the social good? Yes. Are the long term economic benefits too remote and abstract to motivate them to do so? Probably.
Great ideas and clearly written, but it just took too long to explain something that doesn’t seem realistic to me.
Great ideas and clearly written, but it just took too long to explain something that doesn’t seem realistic to me.
June 22, 2020
i had high hopes for this book after hearing her in an interview. instead it's a hobbled mix of smiley business stories and winnie the pooh quotes. very little rigor or substance
January 1, 2023
Finished this book on the eve of the new year; fitting, since my new year’s resolution this year and each henceforth is to build a life around bringing principles like the ones Henderson describes into reality (principles for business to help create a more sustainable, inclusive, and just environment).
The book is centered around five pillars for leaders and corporations to follow to reimagine capitalism: creating shared value (note: this is not the same thing as profit!), becoming deeply purpose-driven, rewriting finance (and accounting, self-regulating, and building inclusive societies. Explicit in her argument is the need for strong institutions to support and reinforce business, including democracy, education, infrastructure, unions etc.
To me, this is a must-read for anyone who may find themselves in a leadership position one day. I’ll end my review with the quote Henderson uses to kick-off the last chapter entitled ‘Pebbles in an Avalanche of Change’
“To be hopeful in bad times is not just foolishly romantic…Human history is a history not only of cruelty, but also if compassion, sacrifice, courage, and kindness. What we choose to emphasize in this complex history will determine our lives. If we see only the worst, it destroys our capacity to do something. If we remember those times and places—and there are so many—where people have behaved magnificently, this gives us the energy to act, and at least the possibility of sending this spinning top of a world in a different direction. And if we do act, in however small a way, we don’t have to wait for some grand utopian future. The future is an infinite succession of presents, and to live now as we think human beings should live, in defiance of all that is bad around us, is itself a marvelous victory.” -Howard Zinn
The book is centered around five pillars for leaders and corporations to follow to reimagine capitalism: creating shared value (note: this is not the same thing as profit!), becoming deeply purpose-driven, rewriting finance (and accounting, self-regulating, and building inclusive societies. Explicit in her argument is the need for strong institutions to support and reinforce business, including democracy, education, infrastructure, unions etc.
To me, this is a must-read for anyone who may find themselves in a leadership position one day. I’ll end my review with the quote Henderson uses to kick-off the last chapter entitled ‘Pebbles in an Avalanche of Change’
“To be hopeful in bad times is not just foolishly romantic…Human history is a history not only of cruelty, but also if compassion, sacrifice, courage, and kindness. What we choose to emphasize in this complex history will determine our lives. If we see only the worst, it destroys our capacity to do something. If we remember those times and places—and there are so many—where people have behaved magnificently, this gives us the energy to act, and at least the possibility of sending this spinning top of a world in a different direction. And if we do act, in however small a way, we don’t have to wait for some grand utopian future. The future is an infinite succession of presents, and to live now as we think human beings should live, in defiance of all that is bad around us, is itself a marvelous victory.” -Howard Zinn
June 8, 2021
Had a bunch of good ideas & case studies, from someone who's spent a couple of decades working with big corporates trying to achieve positive change (Harvard Economics / Business Professor). Discusses, with examples, ways that businesses can have a better impact on the world while staying profitable. But she is also pretty firm that this won't be enough alone, ultimately much stronger government regulation/ incentives etc are needed for large-scale lasting change, along with treating workers and society as equals. But certainly helps greatly if businesses are not just on board with this, but leads initial steps that can be scaled as they become mainstream.
Might be a useful read to recommend to ppl whose heads are mainly in the business world. And is encouraging for me to read that she can see a path to fixing things, she seems to understand the science of climate change, economics of inequality and the world & language of corporations equally well.
Footnote: I think I'd need some more detailed evidence to believe some of the case studies. E.g. that Nike went from its atrocious record of using 3rd world sweatshop labour, to leading the clothing industry to clean up its supply chain; or that Unilever has successfully 'solved' exploitation in its tea supply chain and would have got to fully sustainable palm oil if it wasn't for the uncooperative Indonesian government.
In her case studies, Henderson has seemed willing to call greenwash when she sees it, and point out the limits of business acting in absence of effective government. I'm open to the likelihood that these companies have genuinely tried to improve. I guess I just would need more evidence than she was able to provide in passing summary to overcome my deep skepticism of how far they went. But perhaps it does exist out there somewhere.
Might be a useful read to recommend to ppl whose heads are mainly in the business world. And is encouraging for me to read that she can see a path to fixing things, she seems to understand the science of climate change, economics of inequality and the world & language of corporations equally well.
Footnote: I think I'd need some more detailed evidence to believe some of the case studies. E.g. that Nike went from its atrocious record of using 3rd world sweatshop labour, to leading the clothing industry to clean up its supply chain; or that Unilever has successfully 'solved' exploitation in its tea supply chain and would have got to fully sustainable palm oil if it wasn't for the uncooperative Indonesian government.
In her case studies, Henderson has seemed willing to call greenwash when she sees it, and point out the limits of business acting in absence of effective government. I'm open to the likelihood that these companies have genuinely tried to improve. I guess I just would need more evidence than she was able to provide in passing summary to overcome my deep skepticism of how far they went. But perhaps it does exist out there somewhere.
September 1, 2024
A bit of a shopping list, collecting stories to illustrate the points, but without ever mentioning the magnitude of the change proposed (does it solve 50% of the problem? 1%?) and also without ever analysing the real causes of the problem. The underlying mechanisms of capitalism will not be changed. This is a naive book, written in a "business book" tone, without enough analysis, enough economics, and enough engineering.
Nice final chapter though.
Nice final chapter though.
March 19, 2023
Um livro bastante bom sobre como deve ser o futuro do capitalismo na busca de um mundo melhor para todos. Peca por ser um pouco repetitivo por vezes ao relembrar capítulos anteriores.
No final fui surpreendido por uma descrição super pessoal e emotiva da autora sobre o luto e a forma de olhar para a vida! Nada à espera, mas muito bom!
No final fui surpreendido por uma descrição super pessoal e emotiva da autora sobre o luto e a forma de olhar para a vida! Nada à espera, mas muito bom!
August 30, 2020
This is a very thoughtful, well-researched, well-written book on the role that businesses and business leaders can have in bringing capitalism back in line with human thriving. I found it both inspiring and instructive and highly recommend it to all business leaders who are striving to do good while doing well.
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