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Book Review: Conscious Capitalism

This book holds two places in my mind - it is the way I want businesses and the world to run, but it also is somewhat unbelievable that the majority of businesses could survive this way.

To crudely paraphrase, conscious capitalism says that focusing on profits only is a horrible way to run a successful company. A company should focus on the community, employees, customers, and other stakeholders before profit. It flies in the face of Milton Friedman and his disastrous take that the responsibility of the company is to maximize shareholder wealth. Full disclosure - I consider Friedman one of the greatest villains of the 20th century and the reason for the economic dysfunction we suffer from today.

Do I think managers should behave according to the principles of conscious capitalism? Yes. Do I understand why they don't? Yes. I think doing everything mentioned in the book is difficult, at best. However, I think focusing on the employee first is a great way for the manager to lead.

Rating: Recommend

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