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Fixing Capitalism: Michael Porter And Robert Reich

Business guru Michael Porter and former labor secretary Robert Reich on how to fix what ails contemporary capitalism.

Traders work on the floor of the New York Stock Exchange. (AP)

Traders work on the floor of the New York Stock Exchange. (AP)

Business – American business – has been under a very critical microscope lately. On the crash, the environment, the jobless recovery and more, a country of boosters has become, widely, a country of skeptics about how big chunks of capitalism are working. Business super-guru Michael Porter says American business has brought it on itself. And it has to change. To very clearly – more clearly – create value for itself and the whole society. It’s the new way to profit, he says.

A discussion with former Labor secretary Robert Reich and Michael Porter on fixing capitalism.

– Tom Ashbrook

Guests:

Michael Porter, world-renowned expert on how companies and nations compete. He is director of the Institute for Strategy and Competitiveness at Harvard Business School, where he is a University Professor. His article “Creating Share Value: How to reinvent capitalism – and unleash a wave of innovation and growth” is the cover story of the January/February issue of Harvard Business Review.

Robert Reich, he was Secretary of Labor under President Bill Clinton. He is now a professor of public policy at the University of California at Berkeley. His books include “Supercapitalism: The Transformation of Business, Democracy, and Everyday Life” and “Aftershock: The Next Economy and America’s Future.”

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