Reimagining Capitalism in a World on Fire Hardcover – Illustrated, 28 April 2020
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Rebecca Henderson
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- Language : English
- Hardcover : 336 pages
- ISBN-10 : 1541730151
- ISBN-13 : 978-1541730151
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Best Sellers Rank:
19,043 in Books (See Top 100 in Books)
- 45 in Environmental Economics
- 53 in Economic Policy & Development
- 55 in Economic Theory & Philosophy
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Review
Shortlisted for the Financial Times/McKinsey Book of the Year Award
"Reimagining Capitalism in a World on Fire...should encourage a new era of co-operation & collaboration between government, business & communities of individuals."
--Andrew Hill, Financial Times
"Reimagining Capitalism is a breath of fresh air. Written in lively prose, easily accessible to lay readers, and chock full of interesting case studies, Henderson comprehensively surveys what we need to secure a workable future. Some readers may think she goes too far in places, others may think she doesn't go far enough, but everyone will want to think about the economy she urges us to create."--Larry Kramer, president of the Hewlett Foundation
"A breakthrough book, beautifully written, combining deep humanity, sharp intellect, and a thorough knowledge of business. It rigorously dismantles old arguments about why capitalism can't be transformed and will reach people who haven't yet connected with the need for deep change."--Lindsay Levin, founding partner, Leaders' Quest and Future Stewards
"A must-read for every person with a stake in our economic system since change or die is the inescapable reality confronting capitalism. The question is how. Rebecca Henderson provides investors and corporate executives with the thought leadership and compelling examples foundational for understanding how to deliver sustainable and inclusive economic growth."--Hiro Mizuno, executive managing director and chief investment officer, GPIF
"A well-constructed critique of an economic system that, by the author's account, is a driver of the world's destruction... A readable, persuasive argument that our ways of doing business will have to change if we are to prosper-or even survive."--Kirkus Reviews
"Capitalism as we know it has gotten us this far, but to take the next steps forward as a society and species we need new ways of seeing and acting on our world. That's exactly what Rebecca Henderson's book helps us do. This is a smart, timely, and much-needed reimagining of what capitalism can be."--Yancey Strickler, cofounder and former CEO, Kickstarter, and author of This Could Be Our Future: A Manifesto for a More Generous World
"Coupling detailed accounts from companies taking strides toward redefining capitalism with her own rich understanding of the potential of modern businesses, Henderson makes a compelling argument that capitalism as we know it is a missed opportunity, and builds the framework for business to prosper while complying with environmental factors and championing social justice."
--WBUR.org The ARTery
"Henderson's convincing arguments and passion will be a clarion call to action for business leaders and interested readers everywhere."--Library Journal, starred review
"If you are unsatisfied with today's economic arguments--which too often seem to present an unappealing choice between unbridled markets and old-school collectivism--you need to read Rebecca Henderson's Reimagining Capitalism in a World on Fire. Henderson offers a system that rewards initiative and respects the power of free enterprise, but that also recognizes that we have a higher purpose in life than pure profit maximization. This is a book for the realist with a heart."--Arthur C. Brooks, president emeritus, American Enterprise Institute; professor of practice, Harvard Kennedy School; senior fellow, Harvard Business School; and author of Love Your Enemies
"Reimagining Capitalism in a World on Fire...should encourage a new era of co-operation & collaboration between government, business & communities of individuals."
--Andrew Hill, Financial Times
"Reimagining Capitalism is a breath of fresh air. Written in lively prose, easily accessible to lay readers, and chock full of interesting case studies, Henderson comprehensively surveys what we need to secure a workable future. Some readers may think she goes too far in places, others may think she doesn't go far enough, but everyone will want to think about the economy she urges us to create."--Larry Kramer, president of the Hewlett Foundation
"A breakthrough book, beautifully written, combining deep humanity, sharp intellect, and a thorough knowledge of business. It rigorously dismantles old arguments about why capitalism can't be transformed and will reach people who haven't yet connected with the need for deep change."--Lindsay Levin, founding partner, Leaders' Quest and Future Stewards
"A must-read for every person with a stake in our economic system since change or die is the inescapable reality confronting capitalism. The question is how. Rebecca Henderson provides investors and corporate executives with the thought leadership and compelling examples foundational for understanding how to deliver sustainable and inclusive economic growth."--Hiro Mizuno, executive managing director and chief investment officer, GPIF
"A well-constructed critique of an economic system that, by the author's account, is a driver of the world's destruction... A readable, persuasive argument that our ways of doing business will have to change if we are to prosper-or even survive."--Kirkus Reviews
"Capitalism as we know it has gotten us this far, but to take the next steps forward as a society and species we need new ways of seeing and acting on our world. That's exactly what Rebecca Henderson's book helps us do. This is a smart, timely, and much-needed reimagining of what capitalism can be."--Yancey Strickler, cofounder and former CEO, Kickstarter, and author of This Could Be Our Future: A Manifesto for a More Generous World
"Coupling detailed accounts from companies taking strides toward redefining capitalism with her own rich understanding of the potential of modern businesses, Henderson makes a compelling argument that capitalism as we know it is a missed opportunity, and builds the framework for business to prosper while complying with environmental factors and championing social justice."
--WBUR.org The ARTery
"Henderson's convincing arguments and passion will be a clarion call to action for business leaders and interested readers everywhere."--Library Journal, starred review
"If you are unsatisfied with today's economic arguments--which too often seem to present an unappealing choice between unbridled markets and old-school collectivism--you need to read Rebecca Henderson's Reimagining Capitalism in a World on Fire. Henderson offers a system that rewards initiative and respects the power of free enterprise, but that also recognizes that we have a higher purpose in life than pure profit maximization. This is a book for the realist with a heart."--Arthur C. Brooks, president emeritus, American Enterprise Institute; professor of practice, Harvard Kennedy School; senior fellow, Harvard Business School; and author of Love Your Enemies
About the Author
Rebecca Henderson is the McArthur University Professor at Harvard University (the highest honor that can be awarded to a faculty member), where she teaches the acclaimed course on "Reimagining Capitalism." Henderson spent the first twenty-one years of her career at MIT's Sloan School where she was "teacher of the year" and where her research focused on the economics of innovation and on the question of how large organizations can reinvent themselves.. Inducted in to the American Academy of Arts and Science in 2018, Henderson is also a Research Fellow at the National Bureau of Economic Research and the recipient of a number of academic prizes, including most recently the Viipuri Prize for strategy research and a recent election to the British Academy. Henderson's academic career is complemented by a deep engagement with the practice of management. She has been on the boards of Amgen, a Fortune 200 company, for eight years, and Idexx, an S&P 500 company, for fifteen. She has also consulted with a wide variety of companies including IBM, Motorola, Cisco, Nokia, Eli Lilly, BP, ENI, Unilever, P&G, and many smaller firms, and is routinely invited to speak to executives across the world.
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Most helpful customer reviews on Amazon.com
Amazon.com:
3.9 out of 5 stars
25 reviews

Todd
1.0 out of 5 stars
Nothing New and Nonsense
1 June 2020 -
Published on Amazon.comVerified Purchase
I found that what this book offered was mainly nothing new and when it did try to offer something new, it was nonsense. It tried to tie three works together, The Uninhabitable Earth (climate change is bad), Why Nations Fail (democracy is good), and The Triumph of Injustice (financial inequality) together when they have already been tied together many times. A main theme - push for socially good corporations - has already been out there as well. Companies have been wrestling with moving from being only focused on investor profits to something bigger for the world for years. This book seems to be a very rear view looking book. Where it did try to add something new, it called out Minneapolis-St. Paul as being a highlight of private and public cooperation (much the way Thomas Friedmann did in Thanks For Being Late.) We can see that is a disaster instead of exemplary.
22 people found this helpful

Mark P. McDonald
1.0 out of 5 stars
Disappointing little new mostly a rehash of prior arguments , little insight or actionable ideas
4 October 2020 -
Published on Amazon.comVerified Purchase
Reimagining Capitalism in a World on Fire is a compelling title. It sets an expectation for an equally compelling story. The book is a decent overview for people who are new to the idea of purpose driven and sustainable business. For those who know what ESG is, B Corps, purpose driven organizations, etc. then you can pass on this book.
The main point of this book is to point out that while capitalism is powerful, the current form of capitalism does not have the capacity or the motivation to address our most pressing problems. The author describes modern capitalism as maximizing shareholder return in the short term. Global warming, inequality , sustainability etc. are challenges that capitalism cannot solve alone.
Rebecca Henderson, a Harvard Business School profession, is balanced in her view . Firms can help kick start the processes needed to address these issues, but capitalism alone cannot solve them. To create a sustainable approach capitalism needs strong public institutions — government to control them. The argument is not so much for social control of the economy as for the need to strike a better balance.
The ‘system’ Henderson advocates is one where companies recognize and economy accounts for shared value, firms reorient themselves toward becoming purpose-drive, they are are financed by investors who are aligned with longer term goals and they contribute to and are bound by self regulation agreements in support of broader goals.
The tools to achieve these aspects of a reimagined form of capitalism exist and Henderson reviews them in the book. Purpose Driven Corporates, Benefit of B Corps, new metrics for measuring the Environment, Sustainability and Governance (ESG), self regulating groups. These all exist now, but they are separate and disparate. Henderson treats each with a separate and summary review which weakens the book. A further weakened is the book’s discussion of each of these aspects in isolation. If we are to reimagine capitalism, then we have to reimagine markets firms institutions etc. That is sorely missing from the book.
In my view, Henderson’s treatment of government, more the absence of analysis around how government and business should work together is the books greatest omission. Henderson rightly points out that government and businesses need to collaborate to solve the real challenges we face. Its not a question of if both are needed, but more how can it work.
Henderson points out the need for a balance between the governments and markets p.211 but does not indicate how to achieve that balance. The presumption is that good people will make it work, I am presuming because there is no discussion of the types of leaders or the ways in which we create the balance and expand it.
The presumption that the current form of capitalism is inherently corrupt is a bit limiting. The author does illustrate a model that works with shareholder capitalism, that goes like this: providing better and broader outcomes, that encourage the elimination of waste, provide a source of company and employee growth. The model is illustrated through a Norwegian waste management company Norsk Gjenvinng and Aetna under Mark Bertolini.
Henderson’s criticism of free market economics, ala Milton Friedman, is a simplistic The book’s contention is that the 1980’s government downsizing and attitudes have crippled a public sector that was doing great before the move to downsize government is incomplete.. A more balanced view on government and types of systems needed would be very welcome as the future is not no government, nor is it a full force welfare/entitlement state.
Other points are more of omission. There is no discussion of CHina and its form of ‘capitalism’. Nor is there a discussion of the broader role of technology, which has both enabled great efficiencies, but also created major pubic good costs.
The last weakness in the book is that stories the author uses to illustrate their points. Overall the use of stories or mini-case studies is a strength, but most of the stories end with — we tried this it worked for a little while then failed. This undermines the books main points of the book.
Overall, good if you have not read about these ideas before, but you may be better off doing web searches and reading about purpose driven, benefit corporations (b corps), ESG, etc on your own.
I was looking for analysis and synthesis that led to a development of at least a description of what the authors believed reimagined capitalism would look like. There is a bit in the final chapter, but its more of a restatement of companies following the practices rather than a description fo the dynamics that drives our world toward a better tomorrow.
The main point of this book is to point out that while capitalism is powerful, the current form of capitalism does not have the capacity or the motivation to address our most pressing problems. The author describes modern capitalism as maximizing shareholder return in the short term. Global warming, inequality , sustainability etc. are challenges that capitalism cannot solve alone.
Rebecca Henderson, a Harvard Business School profession, is balanced in her view . Firms can help kick start the processes needed to address these issues, but capitalism alone cannot solve them. To create a sustainable approach capitalism needs strong public institutions — government to control them. The argument is not so much for social control of the economy as for the need to strike a better balance.
The ‘system’ Henderson advocates is one where companies recognize and economy accounts for shared value, firms reorient themselves toward becoming purpose-drive, they are are financed by investors who are aligned with longer term goals and they contribute to and are bound by self regulation agreements in support of broader goals.
The tools to achieve these aspects of a reimagined form of capitalism exist and Henderson reviews them in the book. Purpose Driven Corporates, Benefit of B Corps, new metrics for measuring the Environment, Sustainability and Governance (ESG), self regulating groups. These all exist now, but they are separate and disparate. Henderson treats each with a separate and summary review which weakens the book. A further weakened is the book’s discussion of each of these aspects in isolation. If we are to reimagine capitalism, then we have to reimagine markets firms institutions etc. That is sorely missing from the book.
In my view, Henderson’s treatment of government, more the absence of analysis around how government and business should work together is the books greatest omission. Henderson rightly points out that government and businesses need to collaborate to solve the real challenges we face. Its not a question of if both are needed, but more how can it work.
Henderson points out the need for a balance between the governments and markets p.211 but does not indicate how to achieve that balance. The presumption is that good people will make it work, I am presuming because there is no discussion of the types of leaders or the ways in which we create the balance and expand it.
The presumption that the current form of capitalism is inherently corrupt is a bit limiting. The author does illustrate a model that works with shareholder capitalism, that goes like this: providing better and broader outcomes, that encourage the elimination of waste, provide a source of company and employee growth. The model is illustrated through a Norwegian waste management company Norsk Gjenvinng and Aetna under Mark Bertolini.
Henderson’s criticism of free market economics, ala Milton Friedman, is a simplistic The book’s contention is that the 1980’s government downsizing and attitudes have crippled a public sector that was doing great before the move to downsize government is incomplete.. A more balanced view on government and types of systems needed would be very welcome as the future is not no government, nor is it a full force welfare/entitlement state.
Other points are more of omission. There is no discussion of CHina and its form of ‘capitalism’. Nor is there a discussion of the broader role of technology, which has both enabled great efficiencies, but also created major pubic good costs.
The last weakness in the book is that stories the author uses to illustrate their points. Overall the use of stories or mini-case studies is a strength, but most of the stories end with — we tried this it worked for a little while then failed. This undermines the books main points of the book.
Overall, good if you have not read about these ideas before, but you may be better off doing web searches and reading about purpose driven, benefit corporations (b corps), ESG, etc on your own.
I was looking for analysis and synthesis that led to a development of at least a description of what the authors believed reimagined capitalism would look like. There is a bit in the final chapter, but its more of a restatement of companies following the practices rather than a description fo the dynamics that drives our world toward a better tomorrow.
10 people found this helpful

Chip Hauss
5.0 out of 5 stars
Must reading for anyone interested in social change
15 May 2020 -
Published on Amazon.comVerified Purchase
As a product of the new left of the 1960s, I'm still surprised when calls for radical change come from the full professors at the Harvard Business School. Yet, I read them all the time. And this is best of all the books I've read because Henderson systematically makes the case for a new kind of capitalism and outlines ways in which it is already being put into practice. Thus, on pp. 15 and 16, she argues that
"business has not only the power and the durty to play a huge role in transforming the world but also strong economic incentives to do so. A mere decade ago, the idea that business could help save the world seemed completely crazy. Now, it's not only plausible but also absolutely necessary."
The rest of the book makes that case both ethically and empirically. It is filled with examples of things that are already being done on climate change, inequality, finance, and more as well as pleas for business leaders to do even more. Must reading for anyone interested in social justice and social change.
"business has not only the power and the durty to play a huge role in transforming the world but also strong economic incentives to do so. A mere decade ago, the idea that business could help save the world seemed completely crazy. Now, it's not only plausible but also absolutely necessary."
The rest of the book makes that case both ethically and empirically. It is filled with examples of things that are already being done on climate change, inequality, finance, and more as well as pleas for business leaders to do even more. Must reading for anyone interested in social justice and social change.
9 people found this helpful

Bob Vanourek
5.0 out of 5 stars
An Important Milestone
2 June 2020 -
Published on Amazon.comVerified Purchase
Henderson's work and book are important milestones in the critical need to reform, reinvent, and reimagine capitalism. The days of maximizing shareholder value at the expense of other critical stakeholders are, thankfully, coming to a close. But what else needs to be done? From her work as a thoughtful academic and her practical experience consulting with some of the world's most innovative organizations, Henderson outlines with insightful analysis and real-world stories what has begun, what must continue, and what new dimensions must be engaged. She illustrates five critical dimensions to reimagine capitalism: creating stakeholder value in lieu of merely maximizing shareholder value; purpose-driven businesses; rewiring finance through new metrics; collaboration between organizations; and innovating through business and governmental institutions. Rich with stories and practical advice, Henderson has added important pieces to the new puzzle being constructed of how to continue to improve our world. An important milestone in a critical quest. Well done.
5 people found this helpful