Re-Imagining Capitalism: Building a Responsible Long-Term Model

Capitalism has been an unprecedented engine of wealth creation for many centuries, leading to sustained productivity gains and long-term growth and lifting an increasing part of humanity out of poverty and subsistence. But its effects, and hence its future, have come increasingly under question: Is capitalism still improving the wealth and well-being for the many? Or, has it become destructive for the economy, where long-term value creation is being sacrificed to the pressures of short-termism; for society, where the gap between rich and poor has increased and opportunities to lift oneself out of poverty have dwindled; and for the natural environment, which seems increasingly under threat with unforeseen consequences for prosperity and global order?

This volume reflects both the urgency of the needed action and the opportunity to achieve a wide-ranging agreement and lasting movement towards a more responsible, equitable, and sustainable model of capitalism in order to ensure its very survival. The volume is unique in that it brings together many of the leading proponents for a reformed, re-imagined capitalism from the fields of academia, business, and NGOs. Its contributors have been at the forefront of thought and action in regard to the future of capitalism. Both individually and collectively, they provide powerful suggestions of what such a long-term oriented model of capitalism should look like and how it can be achieved. Drawing on their research and/or professional experience, they write in an accessible way aiming to reach the broad audiences required to turn a re-imagined capitalism into a reality.

Dominic Barton, Global Managing Director, McKinsey & Company, ,Dezso Horvath, Dean and Tanna H Schulich Chair in Strategic Management, Schulich School of Business, York University,Matthias Kipping, Professor of Policy and Chair in Business History, Schulich School of Business, York University

Dominic Barton is the global managing director of McKinsey. Since joining the firm in 1986, Dominic has advised clients in a range of industries, including banking, consumer goods, high tech, and industrial. Before becoming global managing director, Dominic served as McKinsey's chairman in Asia from 2004-09, based in Shanghai, and led McKinsey's office in Korea from 2000-04. Dominic leads McKinsey's work on the future of capitalism, long-term value creation, and the role of business leadership in society. He has authored more than 80 articles on capitalism, leadership, financial-market development, Asia, history, and the issues and opportunities facing global and Asian markets. He is the co-author, with Roberto Newell and Greg Wilson, of Dangerous Markets: Managing in Financial Crises (Wiley & Sons, 2002). His most recent book is China Vignettes: An Inside Look at China (Talisman, 2007).

Dezso J. Horvath is Dean and Tanna H. Schulich Chair in Strategic Management at the Schulich School of Business, York University, where he has been a member of the faculty since 1977. He holds an electrical engineering degree, a Master's degree in Business Administration, and Licentiate and PhD degrees in Management from Sweden. In addition to his role as Dean, Dr. Horvath is a director of a number of companies and organizations and serves on the advisory board of various business schools around the world. He was named 2004 Dean of the Year by the Academy of International Business (AIB), the world's leading association of scholars in the field of international business, in recognition of his "outstanding leadership in various aspects of internationalization, including programs, research and curriculum development, and outreach." In 2008 he was made a Member of the Order of Canada, the country's highest civilian honour, for his academic leadership and sustained commitment to business education.

Matthias Kipping is Professor of Policy, Chair in Business History, and Director of the Kellogg-Schulich Executive MBA program at the Schulich School of Business. He teaches courses on global management in the undergraduate, MBA and Executive MBA programmes. Matthias has degrees from the University of Munich in Germany, the Sorbonne in Paris and Harvard's John F. Kennedy School of Government. He held previous appointments at the University of Reading in the UK and Universitat Pompeu Fabra in Barcelona. His main research interest has been the international transfer of management knowledge, with a particular focus on the role of management consultants and management education - topics on which he has published widely.