What Does “Stakeholder Capitalism” Mean to You?

The past few years have seen an outpouring of articles and statements heralding the arrival of a new and more inclusive form of capitalism, often called “stakeholder capitalism.” It promises to bolster companies, improve outcomes for their constituencies, produce better returns for long-term shareholders, and ultimately strengthen the economy and society as a whole. In line with the new ideology, corporate boards and business leaders have been urged to adopt a multistakeholder approach to governance in place of the shareholder-centered one that has guided their work for several decades.