When I was a kid, I used to play Monopoly with my older sister and her friends. I was in the third grade and they were in Junior High School. I lost a lot.
I remember it well. There I would be, my playing piece poised for disaster; just five squares away from Boardwalk and a dreaded red hotel. Everyone was watching me with anticipation as I slowly rolled the dice in my sweaty hand. As I shook the dice, I was praying that I would roll any number except a “five”. Of course, a “five” it was and the howls of laughter peeled as I sadly handed over the money from my meager stockpile. My sister is a succesful businessperson today. We are close…yet I keep a wary eye… just in case.
This was my first experience with the harsher side of capitalism. It was those early Monopoly games that came to mind as I read about an organization with an intent to soften capitalism. They go by the rather sober name of the : “Henry Jackson Initiative for Inclusive Capitalism.” Here is how they describe themselves: “The Henry Jackson Initiative For Inclusive Capitalisism (HJI) is a center for thought leadership, policy recommendation and the promotion of business initiatives that work towards the goal of Inclusive Capitalism.”
In short, they believe strongly in capitalism but they see flaws that, if not corrected, will damage its institutions. The people behind this organization appear to sober businesspeople. According to an article in Deal Book: “ The group is led by Dominic Barton, global managing director of McKinsey & Company and includes Carly Fiorina, former chief executive of Hewlett-Packard…”
I thought you might find their aims to be of interest as they want to do something about what others only complain about. They want to see businesses take a more long term view. To do so, they recommend the end of quarterly reports; rewarding shareholders who hold on to their investment by giving them a bonus or a higher dividend and that management be rewarded solely for the completion of long term goals.
We are all heavily invested in the success of a vibrant capitalist system. Do you agree with the notion that changes are needed in modern capitalism or are we better leaving well enough alone?