Prosperity by the Oxford economist Colin Mayer argues that “a corporation can find profitable solutions to the challenges of the people & our planet.” The key word is profitable, because we do know that capitalism does have ability to allocate resources in the most efficient ways. The other keyword is the challenges of our people & the planet. Do we have real solutions to their problems? What is a business for? Is it just to maximise shareholder profits?
Better business delivers greater good. Maybe, we need a radical re-formulation of the notions of the roles, responsibilities & the way a business operates. He argues that prevailing beliefs about business cause inequality, low growth, poor innovation & environmental degradation. He sets out a renewed vision of how corporations can create both economic & social well-being. How regulatory & taxation can make this a reality! He challenges the fundamentals of business thinking. The book draws insights from law, economics, science, philosophy & history to show how corporations can realise their full potential for greater good to make a real difference.
