By Joseph L. Bower

The unfold of capitalism world wide has made humans wealthier than ever prior to. yet capitalism’s destiny is much from guaranteed. the worldwide monetary meltdown of 2008 approximately produced an outstanding melancholy. Economies in Europe are nonetheless teetering. source of revenue inequality, source depletion, mass migrations from terrible to wealthy international locations, non secular fundamentalism—these are only the various threats to carrying on with prosperity.

How can capitalism be sustained? And who should still spearhead the trouble? Critics flip to executive. In Capitalism at Risk, Harvard enterprise college professors Joseph Bower, Herman Leonard, and Lynn Paine argue that whereas governments needs to play a job, companies may still take the lead. For enterprising companies—whether huge multinationals, demonstrated neighborhood avid gamers, or small start-ups—the present threats to industry capitalism current vital opportunities.

Capitalism at Risk attracts on discussions with enterprise leaders around the globe to spot ten strength disruptors of the worldwide industry approach. offering examples of businesses already creating a distinction, the authors clarify how enterprise needs to serve either as innovator and activist—developing company options that influence swap on the group, nationwide, and overseas levels.

Filled with wealthy insights, Capitalism at Risk offers a compelling and positive imaginative and prescient for the way forward for industry capitalism.

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Are there important challenges ahead that are not addressed in the World Bank study? Many of the concerns raised by the Bank’s work seem to arise from the inner workings of capitalism— to be, as it were, potential threats from within. What about threats from without? Are there forces originating from outside the market system that might undercut its future performance or operate in ways that are antithetical to its continued expansion—or even its very existence? qxd 44 | 7/13/11 8:07 AM Page 44 The Future of Market Capitalism Consider, for example, breakdowns in the rule of law, the rise of religious fundamentalism, or the spread of illness and disease.

But growth will be uneven across countries, and sub-Saharan Africa may lag considerably The World Bank’s forecasts represent a dramatic improvement in the lives of millions of people, but as the authors of the study emphasize, there are important caveats. Despite the high rate of progress in lowand middle-income countries, incomes in those countries—particularly in sub-Saharan Africa—will still be noticeably lower than those in high-income countries (figure 2-2). , Global Economic Prospects 2007: Managing the Next Wave of Globalization (Washington, DC: The World Bank, 2007), xvii, fig.

In many cases, that “new” view centers on an expanded role for governments. The business leaders with whom we spoke were also very concerned, but not because of 2008. Theirs was a precrisis view but they were already worried about the very forces that were leading up to the financial meltdown and, more generally, about how the global system might evolve over the coming two or three decades. In this chapter, we consider what the world might look like if the market system continues to function more or less as it has functioned in the recent past.

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