In this solo episode, Marcel Schwantes returns with a sample of his upcoming book in which he debunks the outdated approach to shareholder primacy as the sole reason for business. Marcel explains the shift that needs to take place to move away from it to a broader, more progressive stakeholder model where people are put ahead of profits.

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Show Notes

• “The way most Western businesses operate today can be traced back to Friedman’s essays. Love and care as business values were as distant to Friedman’s model as Pluto is to planet Earth.” [1:20] Marcel references Milton Friedman, a champion of free enterprise, and his NYT articles from the 1970s that share a doctrine of shareholder primacy and his ‘Greed is Good’ mentality.

• “We will need to completely overhaul our selection process to identify, hire, and promote leaders and potential leaders who embody the principles of Love in Action.” [2:10]  There is a clear shift, and ‘Changing of the Guard’ so to speak, that Marcel explains in order to help this new vision of love and care create profit that is good for humanity

• “Until we abandon systemic managerial thinking anchored in the industrial revolution, where autocrats hold control, power, and decisions at the top, we will hold back the workforce—our most valued employees—from reaching their fullest potential.” [3:43] As Marcel closes out this sample of his future manuscript, he emphasizes the reason for the Love in Action podcast and the importance of these conversations that engage the idea that companies profit when the human lives supporting them flourish.

Mentioned in this episode:

• Marcel Schwantes

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