The Case for Shareholder Capitalism: How the Pursuit of Profit Benefits All

McLean, R David

ISBN 10: 1952223881 / ISBN 13: 9781952223884

Edité par Cato Institute, 2023

The item shows wear from consistent use, but it remains in good condition and works perfectly. All pages and cover are intact including the dust cover, if applicable . Spine may show signs of wear. Pages may include limited notes and highlighting. May NOT include discs, access code or other supplemental materials. N° de réf. du vendeur BVV.1952223881.G

Synopsis :

Unlock the power of shareholder capitalism -- a system that transcends zero-sum games and Wall Street stereotypes. In its essence, shareholder capitalism enables mutually beneficial trade, a concept ingrained in our human history for over 300,000 years. This approach fosters specialization, fuels innovation, and propels economic growth.

In this engaging new book, David McLean explains how embracing shareholder capitalism doesn't negate the significance of other institutions; rather, it allows businesses to excel in providing the goods, services, and jobs that make society better off. Shareholder capitalism isn't about disregarding stakeholders; it thrives on mutually beneficial partnerships, and managers are entrusted to maximize shareholder value, focusing on companies' long-term success, which drives overall prosperity. Profits, the ultimate measure of value, steer businesses toward creating goods and services that benefit society.

While shareholder capitalism is the overarching theme in Finance 101 courses, it is increasingly criticized, especially with the popularization of concepts like ESG investing and stakeholder capitalism. McLean argues that corporate social responsibility, while well-intentioned, shouldn't replace the democratic process in policymaking, and can lead to unintended consequences. Our journey through capitalism, beginning around 1800, has brought unprecedented prosperity, and it's essential to safeguard this system for the betterment of society, with democracy and free trade as our guiding beacons.

À propos de l'auteur: David McLean is the William G. Droms Professor of Finance at the McDonough School of Business at Georgetown University and the finance area chair. He has published widely on the topics of market efficiency, stock return predictability, and the interplay between financial markets and corporate investment.

Détails bibliographiques

Titre : The Case for Shareholder Capitalism: How the...
Éditeur : Cato Institute
Date d'édition : 2023
Reliure : Couverture souple
Etat : good