John Wiley & Sons : Founder and Executive Chairman of the World Economic Forum and Best-Selling Author, Klaus Schwab, Releases New Book “Stakeholder Capitalism”

Founder and Executive Chairman of the World Economic Forum and Best-Selling Author, Klaus Schwab, Releases New Book 'Stakeholder Capitalism'; Making the Case for a Global Economy that Works for Progress, People and Planet

In the new book, released this week, Klaus Schwab looks at the achievement and shortcomings of the global economic system, and suggests way to improve it. He makes the case for 'Stakeholder Capitalism,' arguing that systems such as shareholder capitalism and state capitalism led the world down an unsustainable path. 'Stakeholder Capitalism'is available now wherever books and eBooks are sold.

Hoboken, NJ (January 29, 2021) - Klaus Schwab, Founder and Executive Chairman of the World Economic Forum, and author of the best-selling books The Fourth Industrial Revolution and COVID-19: The Great Reset released his new book this week, Stakeholder Capitalism: A Global Economy that Works for Progress, People and Planet, co-authored with Peter Vanham.

In Stakeholder Capitalism, Schwab looks at the achievements and shortcomings of the global economic system dominant in the past decades: shareholder capitalism in the West, and state capitalism in the East. Both systems enabled unprecedented advances in wealth, measured by GDP and profits, he writes. But they also led to historical economic inequality, and the degradation of the environment.

'We can't continue with an economic system driven by selfish values, such as short-term profit maximization, the avoidance of tax and regulation, or the externalizing of environmental harm,' Schwab writes. 'Instead, we need a society, economy, and international community that is designed to care for all people and the entire planet.'

Schwab proposes a third way: the model of stakeholder capitalism. It is one where companies seek long-term value creation instead of short-term profits; governments cooperate to create the greatest possible prosperity for their people, and civil society and international organizations complete the stakeholder dialogue, helping balance the interests of people and the planet.

Stakeholder Capitalism is available now wherever books and eBooks are sold.

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Aboutthe Book:

Stakeholder Capitalism: A Global Economy that Works for Progress, People and Planet by Klaus Schwab with Peter Vanham (Wiley, January 2021, 304 Pages, $24.95, ISBN: 978-1-119-75613-2)

About the Authors:

Professor Klaus Schwab is Founder and Executive Chairman of the World Economic Forum, the International Organization for Public-Private Cooperation, most known for its Annual Meeting in Davos, Switzerland. He first introduced the stakeholder concept in his 1971 book Modern Enterprise Management in Mechanical Engineering and has been an advocate for stakeholder capitalism ever since.

Co-author Peter Vanham is the Head of Chairman's Communications at the World Economic Forum and author of Before I Was CEO. He writes about the global economy and the people who shape it.

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Praise for Stakeholder Capitalism

'Stakeholder Capitalism offers a vision for politics and economics driven not only by value creation, but by values. Professor Schwab's timely book gives us hope for a future in which an 'inclusive and virtuous economic system,' shaped by ideals like truth, trust, and service, might bind us together as one species caring for one another and for our planet.'
-Yo-Yo Ma, Cellist

'Klaus Schwab has encouraged his readers for decades to keep their eyes on the future because when we set our gaze on the horizon, our minds can better plan for the obstacles and opportunities before us. In Stakeholder Capitalism, Professor Schwab invites us also to look side-to-side, to the many constituencies in the public and private sectors that through partnership and collaboration can make the future brighter, more inclusive and more sustainable.'
-Satya Nadella, CEO, Microsoft

'Both readable and fascinating, Stakeholder Capitalism aptly explains why the twin curses of climate change and biodiversity collapse are so prevalent today, and what's stopping us from achieving a more sustainable and equitable global economy. Through his focus on values, Klaus Schwab acknowledges that head (intellect, rationality) and heart (love, respect, understanding) need to work in harmony for the well-being of future generations and our home, planet Earth.'
-Jane Goodall, Founder, the Jane Goodall Institute; United Nations Messenger of Peace

'In the 1970s, Milton Friedman famously defined 'shareholder capitalism,' and companies were urged to orient themselves towards a single goal: returns for shareholders. Over the course of the last decades we have all seen that the complexities of the challenges we face require that businesses take a broader approach, trying to achieve a balance among several goals. This is not easy. That is why Klaus Schwab's new book is an essential guide. It explains the depth of the challenges we face and outlines a path forward that businesses must take if they are to thrive in the 21st Century.'
-Fareed Zakaria, Host of CNN's Fareed Zakaria GPS

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Media Contact:

Amy Laudicano, Wiley

[e-mail]