Note that is a piece by a capitalist who has done very well financially. And he points out that that by having a purpose beyond pure greed is also good for the bottom line.
Marc Benioff: We Need a New Capitalism
Over the past 20 years, the company that I co-founded, Salesforce, has generated billions in profits and made me a very wealthy person. I have been fortunate to live a life beyond the wildest imaginations of my great-grandfather, who immigrated to San Francisco from Kiev in the late 1800s.
Yet, as a capitalist, I believe it’s time to say out loud what we all know to be true: Capitalism, as we know it, is dead.
...
...profits are important, but so is society. And if our quest for greater profits leaves our world worse off than before, all we will have taught our children is the power of greed.
It’s time for a new capitalism — a more fair, equal and sustainable capitalism that actually works for everyone and where businesses, including tech companies, don’t just take from society but truly give back and have a positive impact.
...
suggesting that companies must choose between doing well and doing good is a false choice. Successful businesses can and must do both. In fact, with political dysfunction in Washington, D.C., Americans overwhelmingly say C.E.O.s should take the lead on economic and social challenges, and employees, investors and customers increasingly seek out companies that share their values.
...
Skeptical business leaders who say that having a purpose beyond profit hurts the bottom line should look at the facts. Research shows that companies that embrace a broader mission — and, importantly, integrate that purpose into their corporate culture — outperform their peers, grow faster, and deliver higher profits. Salesforce is living proof that new capitalism can thrive and everyone can benefit. We don’t have to choose between doing well and doing good. They’re not mutually exclusive. In fact, since becoming a public company in 2004, Salesforce has delivered a 3,500 percent return to our shareholders. Values create value.
Marc Benioff: We Need a New Capitalism
Over the past 20 years, the company that I co-founded, Salesforce, has generated billions in profits and made me a very wealthy person. I have been fortunate to live a life beyond the wildest imaginations of my great-grandfather, who immigrated to San Francisco from Kiev in the late 1800s.
Yet, as a capitalist, I believe it’s time to say out loud what we all know to be true: Capitalism, as we know it, is dead.
...
...profits are important, but so is society. And if our quest for greater profits leaves our world worse off than before, all we will have taught our children is the power of greed.
It’s time for a new capitalism — a more fair, equal and sustainable capitalism that actually works for everyone and where businesses, including tech companies, don’t just take from society but truly give back and have a positive impact.
...
suggesting that companies must choose between doing well and doing good is a false choice. Successful businesses can and must do both. In fact, with political dysfunction in Washington, D.C., Americans overwhelmingly say C.E.O.s should take the lead on economic and social challenges, and employees, investors and customers increasingly seek out companies that share their values.
...
Skeptical business leaders who say that having a purpose beyond profit hurts the bottom line should look at the facts. Research shows that companies that embrace a broader mission — and, importantly, integrate that purpose into their corporate culture — outperform their peers, grow faster, and deliver higher profits. Salesforce is living proof that new capitalism can thrive and everyone can benefit. We don’t have to choose between doing well and doing good. They’re not mutually exclusive. In fact, since becoming a public company in 2004, Salesforce has delivered a 3,500 percent return to our shareholders. Values create value.