Aug 2020

Recasting Multilateralism and Reforming Capitalism

Published August 2020

Bruno Roche has co-authored an article published by the World Economic Forum and Project Syndicate, which makes the case for recasting multilateralism and reforming capitalism on the basis of mutuality and reciprocity. An extract has been reproduced below. Click the button to read the full piece.


“In meeting the COVID-19 crisis, many companies are preparing to contribute to a reform agenda by adopting new models of corporate governance and innovation, with an eye toward purpose-led value creation. The business community is recognizing that addressing stakeholder problems is a better approach than maximizing shareholder returns without considering the consequences.

Stakeholder capitalism is no longer just an aspiration. Business leaders and investors are launching and joining encouraging real-world initiatives that will elevate the place of long-neglected participants in the corporate calculus. Most important, promising new schools of economic thought are being tested and applied to transform value-creation models across business and finance. For example, the Economics of Mutuality, a course co-created by scholars at the University of Oxford and Catalyst, Mars Inc.’s in-house think tank, is now being taught at leading universities, including Oxford, Sciences Po, and the China Europe International Business School. And there is growing enthusiasm for Harvard Business School’s Impact-Weighted Accounts Project, the Impact Management Project, and other initiatives.

Among business leaders, investors, and educators, support for these new approaches has been growing, because they can empower businesses to solve key social and environmental challenges in the ecosystems in which they operate without sacrificing performance. More industry leaders are acknowledging that the purpose of business is not to earn profits at the expense of people and the planet, but rather to develop profitable solutions to shared problems.”

Co-authors:

Share
EmailLinkedIn

Other Articles

Jun 2024
Lisbon Conscious Business Education Conference 2024: Evolving Education for Ethical Business Practices 
Mar 2024
Nordic Economics of Mutuality Forum October 15-16

The first Economics of Mutuality forum to be held in Scandinavia, this event taking place October 15-16, 2024 will be hosted by Brandinnova, the Center for Brand Research at the Norwegian School of Economics (NHH), Jæren Sparebank, and the Economics of Mutuality Foundation.

Mar 2024
Oxford Virtual Executive Education Program, September 12 – October 31, 2024

Driving Impact Through Mutual Value Creation, an 8-week online course brought to you by Oxford University’s Saïd Business School and the Economics of Mutuality team, will equip you to walk the talk of Stakeholder Capitalism.

Mar 2024
Asia Economics of Mutuality Forum 24-25 April 2024

Korean and global leaders in business, academia, government, and civil society will gather at Hanyang University in Seoul, South Korea, to launch the inaugural Economics of Mutuality Foundation and Hanyang University’s Global Forum on the role of business and investing in society. The event will take place from April 24 to 25, 2024. The two-day event will include addresses by Professor Colin Mayer, former Dean of Oxford University’s Said Business School; Chairman Moon Kook Hyun, President of the New Paradigm Institute and former CEO of Yuhan-Kimberly, and Dr. Jay Jakub, the Executive Director of the Economics of Mutuality Foundation, and co-author of the book, “Completing Capitalism.” The event will highlight the roles of academia, corporations, investors, family offices and entrepreneurs in creating an ecosystem of mutual value co-creation by how companies deploy their capital in society.