Over the past decade

Over the past decade, the debate around the purpose of business
(Handy, 2002) and the ability of capitalism to foster prosperity (Jackson, 2011) has intensified dramatically. The dominant market logic of free
trade and maximizing shareholder value, perhaps best epitomized in Milton Friedman’s famous 1970 New York Times Magazine3 article, has been variously accused of being outdated, insufficient to create value for society, and perhaps even undesirable. Politicians and business leaders, consumers, academics, and grassroots activists increasingly realize that focusing on short-term financial performance is hampering the private sector’s ability to provide innovations that allow both business and
society to prosper, while simultaneously preserving environmental integrity.

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