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Fredrik Erixon’s Followers (2)
Fredrik Erixon
More books by Fredrik Erixon…
“The agency dilemma is as old as capitalism and essentially concerns nothing less than human nature. The question is: who do companies and management really work for – the shareholders or themselves? John Kenneth Galbraith used more colorful prose to explain the essence of capitalist agency. To think that companies should work for shareholders, he argued, “one must imagine that a man of vigorous, lusty and reassuringly heterosexual inclination eschews the lovely and available women by whom he is intimately surrounded in order to maximize the opportunities of other men whose existence he knows of only by hearsay.”39”
― The Innovation Illusion: How So Little Is Created by So Many Working So Hard
― The Innovation Illusion: How So Little Is Created by So Many Working So Hard
“The four factors reinforced the bureaucratic impulses of Western societies. Instinctively defensive, operating under a compliance mentality supported by their financiers and government regulations, companies lost the entrepreneurial appetite for transforming markets with big innovation. As the managerialist disposition for predictability and preservation seized the corporate world, capitalism lost its orientation. It wrecked its compass for economic dynamism and competition that contests markets. Now capitalism is challenged, not from outside competition, but by the four horsemen of capitalist decline. The existential challenge of capitalism in the twenty-first century is a growing inability to foster contestable innovation and entrepreneurial competition. The importance can hardly be exaggerated: reversing capitalism’s decline is pivotal to stopping the growing populist unrest in the West. Capitalism is no longer what most people think it is.”
― The Innovation Illusion: How So Little Is Created by So Many Working So Hard
― The Innovation Illusion: How So Little Is Created by So Many Working So Hard
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