04 Sep 2019 15:12 IST

How B-schools can help restore trust in capitalism

Promote big-picture thinking about the broad and long-term impact of business practices

Trust in capitalism and big business is low. So far, most business schools have responded by offering more programs and courses on ethics, social entrepreneurship, impact investing, and philanthropy, with the message that we need better private-sector solutions to social problems. But this approach won’t solve the problem. If business schools want to help restore trust in capitalism, they must go beyond private-sector solutions and embrace civic-minded leadership, a way of conducting business and citizenship based on a holistic understanding of how individuals, corporations and governments interact, one that emphasises the importance of good governance mechanisms and seeks to create a system in which capitalism and the market economy can deliver on their promises. Read the full article on Harvard Business Review.