Why Capitalists Need to Save Democracy

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

🗓️ 10 March 2020

⏱️ 28 minutes

🔗️ Recording | iTunes | RSS

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Summary

Rebecca Henderson, professor at Harvard Business School, says that both capitalism and democracy are failing us. She argues that it will take public and private leaders working together to simultaneously fix these two systems because free markets don't function well without free politics and healthy government needs corporate support to survive. She is calling on the business community to take the first step. Henderson is the author of the upcoming book "Reimagining Capitalism in a World on Fire." And the March Big Idea article, "The Business Case for Saving Democracy."

Transcript

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0:00.0	When leadership advice feels like buzzwords and platitudes, it's time to get real.
0:05.9	HPR's podcast Coaching Real Leaders brings you behind closed doors as Muriel Wilkins coaches anonymous
0:11.9	leaders through raw honest career questions
0:14.6	that we all face.
0:15.9	Listen and follow coaching real leaders for free
0:18.3	wherever you get your podcasts. Welcome to the HBR IdeaCast from Harvard Business Review. I'm Allison Beard. Democracy and capitalism. In the 20th century we saw both systems spread around the world.
0:50.5	The promise was greater freedom and prosperity for everyone.
0:54.4	But is that what we got?
0:56.2	Experts are worried, as are everyday Joes.
0:58.8	They don't trust big business or democratic government
1:01.4	as much as they used to. They say that both
1:03.7	systems are failing. Wealth and influence are increasingly concentrated, not
1:09.1	shared. So what went wrong and how can we fix it?
1:13.0	Our guest today says that it will take public and private leaders working together on both problems
1:18.1	simultaneously.
1:19.9	That's because free markets don't function successfully without free elections and fair lawmaking,
1:25.0	and democratic institutions need corporate support to survive.
1:29.1	She argues that you can't fix one without fixing the other, and is calling on the business community to take the first step.
1:35.0	Rebecca Henderson is an economist and professor at Harvard University and Harvard Business School.
1:40.0	She's the author of the upcoming book Reimagining Capitalism in a World on Fire and
1:45.3	the March Big Idea, the Business Case for Saving Democracy. Rebecca, thanks so
1:50.3	much for talking with me today. Thank you, Allison.
	...

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