G2TT
来源类型Discussion paper
规范类型论文
来源IDDP16302
DP16302 Capitalism Recoupled
Dennis Snower
发表日期2021-06-28
出版年2021
语种英语
摘要This paper examines major forces that have decoupled economic and business prosperity from social prosperity and explores how recoupling can be promoted. Economists have specified well-known conditions under which free market enterprise with shareholder value maximization is efficient. These conditions are systematically violated by three forces – globalization, technological advance and financialization (GTF) – that have weakened the connections between economies and societies over the past four decades. Consequently, the recoupling process requires abandoning the default premise of economic decision making that social progress follows financial performance. For business, it calls for a move from shareholder to stakeholder value. For government, it calls for setting legal obligations, targets and incentives to ensure that stakeholder value is compatible with a rigorously defined concept of “societal and planetary value.”
主题Macroeconomics and Growth
关键词Recoupling Shareholder value Stakeholder value Wellbeing Globalization Technological advance Financialization
URLhttps://cepr.org/publications/dp16302
来源智库Centre for Economic Policy Research (United Kingdom)
资源类型智库出版物
条目标识符http://119.78.100.153/handle/2XGU8XDN/545267
推荐引用方式
GB/T 7714
Dennis Snower. DP16302 Capitalism Recoupled. 2021.
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