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Capitalists, Arise!: End Economic Inequality, Grow the Middle Class, Heal the Nation
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About Capitalists, Arise!: End Economic Inequality, Grow
Product Description Peter Georgescu arrived in this country as a penniless Romanian refugee and rose to become the CEO of Young & Rubicam. This is why he’s so heartsick that with flat wages, disappearing jobs, and a shrinking middle class, his kind of rags-to-riches story doesn’t seem possible now. But he has a message for his fellow CEOs: we’re the ones who must take the lead in fixing the economy. Marshaling deeply sobering statistics, Georgescu depicts the stark reality of America today: a nation with greater wealth inequality and lower social mobility than just about any other country in the developed world. But the problem isn’t that free-market capitalism no longer works—it’s that it’s been hijacked by shareholder primacy. Where once our business leaders looked to the needs and interests of a variety of stakeholders—employees, community members, the business itself—now they’re myopically focused on maximizing their shareholders’ quarterly returns. Capitalists Arise! shows how the short-term thinking spawned by shareholder primacy lies at the root of our current economic malaise and social breakdown. But Georgescu offers concrete actions that capitalists themselves can take to create a better future. The irony is that if businesses do this, shareholders will do even better. In the long run, businesses can thrive only when society is healthy and strong. This book is a manifesto calling on capitalists to heal the nation that has given them so much. Review 2018 Independent Publisher Book Awards bronze medalist in the Business/Career/Sales category. “Peter Georgescu has written a clear-eyed assessment about the drivers of key national challenges like income inequality and shrinking economic opportunity. He offers a number of thoughtful prescriptions for change, all aimed at the worthiest of goals—restoring the viability of the American Dream. I applaud and commend his efforts.” —Roger W. Ferguson, President and CEO, TIAA; former Vice Chairman, US Federal Reserve System; and Chairman, The Conference Board “In Capitalists Arise! Peter Georgescu has issued a challenge to America’s captains of business, industry, and finance to step forward and reclaim capitalism as a means of creating wealth and shared prosperity. Georgescu warns that without developing a more inclusive capitalism that generates broader opportunity and social mobility, we risk destroying our economy and even our democracy. Capitalists Arise! is a clarion call by a great American patriot and business leader written out of love for his country and his unwavering belief in our nation’s ideals of fairness, opportunity, and justice.” —Darren Walker, President, Ford Foundation “In Capitalists Arise! Peter Georgescu makes the case to his brethren business executives for investment in employees and the business drivers of innovation, productivity, and long-term value creation. It’s an essential call to action rooted in the imperative need for change and common sense.” —Judith Samuelson, Executive Director, Business and Society Program, The Aspen Institute “Georgescu pleads passionately and convincingly for a return to a form of capitalism that invests first and foremost in employees and R&D and sees itself as a partner in the work of building up the human family. To say that the publication of this visionary work is timely would be an understatement.” —Rev. Joseph M. McShane, SJ, President, Fordham University “ Capitalists Arise! is vivid and engaging, required reading for every corporate executive in our country, not to mention every shareholder. It lays out that paying employees more fairly and reinvesting in business growth would have an enormous salutary effect on the lives and well-being of America’s citizens. It will also lead to corporate success.” —Ann Reynolds, Director, Abbott Laboratories, Humana, and Owens Corning, and former Chancellor, California State University system and The City University of New York “In this valuable and wel
