During The Philadelphia Citizen's fourth annual Ideas We Should Steal Festival presented by Comcast NBCUniversal, Peter Georgescu, chairman emeritus of Young & Rubicam and author of Capitalists ARISE!, made the case for a kind of capitalism that doesn’t answer only to shareholders, but to stakeholders: workers, communities, and consumers.
“Stakeholder capitalism is the only form of capitalism that can survive in a democracy,” he argued, in a panel presented by Comcast NBCUniversal. Anything else, he said, is not sustainable.
During the Q&A, one guest—a self-described capitalist himself—left the crowd with this thought-provoking idea: There has to be a kind of capitalism that allows for slaying the portions of capitalism—for example our inflated healthcare system—that don’t work. Amen.
