As the global banking system approached meltdown there was a view that the worldwide love affair with unrestrained free markets was apparently over and a new system was clearly needed for a sustainable future. Fast-forward three years and talk within banking is of business as usual. Demands for heavier regulation are met with disdain.
But those voices calling for reform of capitalism haven't entirely gone away. So there are tensions between would-be reformers and those keen to carry on as usual. Here Bishop and Green do an excellent job of explaining why there is merit to both sides of this argument.
The authors argue that it is spurious to suggest that we should refocus our economy on manufacturing rather than financial services. Some reform is needed and this book does a good job of laying out ideas for a more engaged, people-focused capitalism. In everything from corporate governance to philanthropy, business needs to focus on the interests of all the people rather than a select few. This way capitalism can once again be a force for good in the age of the big society.
