Stakeholder capitalism, a popular management theory in the 1950s and ‘60s that focused on the needs of all constituents, not just shareholders, has been poised to make a comeback since weaponized financial instruments brought down the economy in 2008. Now, spurred by the alarming climate crisis and increasing social challenges such as rising inequality, the movement is gathering additional steam. Increasingly, there’s a sense among business leaders that the prevailing ideology of putting shareholders above everyone else — which has reigned for the past 40 years — needs a serious update.
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