Policy Punchline

Rebecca Henderson is the John and Natty McArthur University Professor at Harvard, where she specializes in innovation and organizational change. Her newest book "Reimagining Capitalism in a World on Fire" examines how capitalism might be reworked so as to strive for a greener, more equitable future. "Reimagining Capitalism" was named to the shortlist of the Financial Times and McKinsey Business Book of the Year Award, and has received high praise from both academia and industry. Many scholars have argued that capitalism is at a crossroads, as the climate crisis and soaring inequality pose problems that the free market has proven to be incapable of solving. Professor Henderson points to Milton Friedman and the Chicago school of economics as the origin of these issues. As businesspeople adopted shareholder value maximization as their primary goal, and proponents of free market capitalism attacked government and regulation, capitalism spiralled out of control. How can businesses balance social responsibility