Op-Ed: How America’s Business Leaders Can Restore Faith in Capitalism
By Ursula Burns, Lynn Forester de Rothschild, Leo E. Strine, Darren Walker
February 05, 2021
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Joe Biden’s “Build Back Better” agenda puts the American worker front and center. His experienced nominees can make his aspiration to “reward work” a reality. But to do that, they need business and investors to work together with labor and engage with the government to restore a level playing field and give workers their just share of the prosperity that they create.
For too long, the people most important to the success of our capitalist economy — the workers — have not received their fair share as companies became more subject to the power of investors demanding immediate profits. For the past 40 years, worker productivity increased 70%, the S&P 500 grew more than 700% in value, CEO compensation skyrocketed by 940%, but the hourly wages for average workers rose by only 12%.
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Darren Walker is president of the Ford Foundation, a $13 billion international social justice philanthropy. He is co-founder and chair of the U.S. Impact Investing Alliance and the Presidents’ Council Read More
