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From climate change to inequality, many of society's most pressing issues are deeply intertwined with the prioritization of wealth accumulation at the expense of broader societal and environmental concerns. Today, we are joined by Chris Marquis, the author of The Profiteers: How Business Privatizes Profit and Socializes Cost, to discuss how we can rebalance interactions between corporations, governments, and civil society to deliver outcomes that benefit both people and the planet.
As the Sinyi Professor at the University of Cambridge Judge Business School and a regular columnist for Forbes, Chris frames business as a powerful vehicle for social change. He emphasizes the importance of not just scrutinizing corporations' sustainability practices but also examining their underlying business models to ensure accountability. We also discuss the tension between profit motives and social responsibility, the pivotal role of policy in driving systemic change, and explore innovative approaches to dismantling our existing systems in favor of a more regenerative economic paradigm.
For a provocative and keenly insightful conversation about transforming (not just reforming) the way business is conducted with one of the world’s leading experts on the dynamics of business and social innovation, be sure to tune in today!
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Key Points From This Episode:
Chris’ background and how it led him to the work he does today. [0:01:09]
Why business is a powerful engine for social and environmental good (and the barriers that prevent us from enacting it). [0:02:25]
Doing well by doing good: the tension between profit and social responsibility. [0:06:36]
How writing Better Business led Chris to write The Profiteers. [0:12:11]
Holding corporations that “do good” accountable for their business models [0:16:30]
The issue of greenwashing and why regenerative practices aren't enough. [0:19:35]
Whether capitalism is standing in the way of building a regenerative economy. [0:26:06]
Lessons that Chris wants readers to take away from The Profiteers. [0:28:00]
Why consumers won’t save us and changing policy is key. [0:32:52]
Where to get Chris’ books and how you can help him grow the next economy. [0:38:28]
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Quotes:
“Business is perhaps the most powerful engine for social and environmental good in our world, but there are tremendous barriers to actually enacting that.” — @Chris_Marquis_ [0:02:52]
“We don’t need the – 10,001th study on ‘doing well by doing good’. We need to think about exposing and reconstructing the system.” — @Chris_Marquis_ [0:11:56]
“We constructed this world ourselves. It was constructed in a way that is fundamentally unfair to the majority of people. We need to think creatively about ways to deconstruct it and build models that are fair for [all].” — @Chris_Marquis_ [0:25:50]
“The idea that consumers are going to save us is wishful thinking. – Working in politics, getting strong legislation, and [electing] the right political leaders that believe we need to change the system is the most important thing.” — @Chris_Marquis_ [0:33:11]
“Although I articulate a lot of solutions [through] business, to change the system, policy is important.” — @Chris_Marquis_ [0:35:06]
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Links Mentioned in Today’s Episode:
Chris Marquis: https://chrismarquis.com/
Chris Marquis on X: https://twitter.com/Chris_Marquis_
Chris Marquis on LinkedIn: https://www.linkedin.com/in/christopher-marquis-3884834/
Contact Chris: https://www.jbs.cam.ac.uk/people/christopher-marquis/
The Profiteers: https://chrismarquis.com/the-profiteers-how-business-privatizes-profit-and-socializes-cost/
Better Business: https://chrismarquis.com/better-business-how-the-b-corp-movement-is-remaking-capitalism/
Wealth Supremacy: https://marjoriekelly.org/wealthsupremacy/
‘Business Roundtable Redefines the Purpose of a Corporation to Promote ‘An Economy That Serves All Americans’’: https://www.businessroundtable.org/business-roundtable-redefines-the-purpose-of-a-corporation-to-promote-an-economy-that-serves-all-americans
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