The Case for Shareholder Capitalism

"""Shareholder capitalism is accused of being the cause of all the world's problems. This eye-opening book highlights that shareholder capitalism involves mutually beneficial trade, pursuing bold innovations that address society's challenges, and creating long-term value for stakeholders. It's based on sound economic principles, not ideology, yet is highly readable and brimming with real-world examples. Read it; it will change the way you think.""--Alex Edmans, author of Grow the Pie: How Great Companies Deliver Both Purpose and Profit and professor of finance at the London Business School ""This book is a must-read for anyone who wants to understand what shareholder capitalism is and what it is not. David McLean offers a full-throated defense of shareholder capitalism by drawing on historical insights from notable economists such as Adam Smith, Joseph Schumpeter, Milton Friedman, and Thomas Sowell and linking them to current real-world examples. This highly readable book compares and contrasts the shareholder capitalism approach to the stakeholder capitalism approach to dispel common misinformation, misconceptions, and fallacies about both.""--Michael Piwowar, former commissioner of the U.S. Securities and Exchange Commission ""Few ideas are more salient than the shareholder wealth maximization principle for continued growth and the survival of humanity. David McLean not only blunts the serious assaults leveled against it but presents the shareholder wealth maximization principle in a lucid, accessible narrative that is sprinkled with historical anecdotes. The book has the potential to set straight those who have misguided concerns about the shareholder model and arm the believers with cogent arguments extolling the virtues of maximizing shareholder wealth.""--S. P. Kothari, Gordon Y. Billard Professor of Accounting and Finance, MIT Sloan School of Management"