The Rise of Corporate Inequality

HBR IdeaCast

Harvard Business Review

Leadership, Entrepreneurship, Communication, Marketing, Business, Business/management, Management, Business/marketing, Business/entrepreneurship, Innovation, Hbr, Strategy, Economics, Finance, Teams, Harvard

4.4 • 1.9K Ratings

🗓️ 23 March 2017

⏱️ 25 minutes

🔗️ Recording | iTunes | RSS

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Summary

Stanford economist Nicholas Bloom discusses the research he's conducted showing what’s really driving the growth of income inequality: a widening gap between the most successful companies and the rest, across industries. In other words, inequality has less to do with what you do for work, and more to do with which specific company you work for. The rising gap in pay between firms accounts for a large majority of the rise in income inequality overall. Bloom tells us why, and discusses some ways that companies and governments might address it. He’s the author of the Harvard Business Review article, “Corporations in the Age of Inequality.” For more, visit hbr.org/inequality.

Transcript

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0:08.4	Young Professional's Guide to Building a Meaningful Career on your own terms.
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0:15.9	Listen for free wherever you got your podcasts.
0:18.6	Just search new here. Welcome to the HBR Idea Cast from Harvard Business Review.
0:32.6	I'm Sarah Green Carmichael.
0:34.9	A few years ago, Facebook's chief operating officer
0:37.9	gave the commencement address at Harvard Business School.
0:40.8	Cheryl Sandberg told the story of getting a job offer at Google back in 2001.
0:45.0	And the job was several levels lower than jobs I was being offered at other companies.
0:51.0	So I sat down with Eric Schmidt who had just become the CEO and I showed
0:55.2	in my spreadsheet and I said this job meets none of my criteria. He put his hand on my
1:00.9	sheet and he looked at me and he said,
1:03.0	don't be an idiot.
1:04.4	Excellent career advice.
1:08.6	And then he said, if you're offered a seat on a rocket ship, don't ask what seat, just get on.
1:16.4	That was good advice even for somebody like Sandburg who'd already worked at McKinsey, the World Bank,
1:22.1	and the U.S. Treasury.
1:23.2	If you get a chance to join a rocket ship company in your career, you absolutely should take it.
1:29.0	But not everybody does.
	...

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