We tend to see the relationship between business and society as a fight over the biggest slice of pie. We need a pie-growing mentality instead.
Business has lost the public’s trust. CEO pay and profits are soaring, while ordinary incomes have stagnated but global temperatures have not. As a result, while politicians used to campaign on health and education policy, the real vote-winner these days is promises to crack down on business. So it’s urgent that boards take action. If they don’t, not only may customers and workers walk away, but also politicians may pass regulations that overturn capitalism as we know it. For example, Labour’s proposal to confiscate 10% of company shares would be the biggest expropriation of private property in the UK’s recent history. But some of the actions that the public are proposing may not actually be in the best interest of society.