The Henry Jackson Societyhas announced the launch of a new initiative - the Henry Jackson Initiative for Inclusive Capitalism (HJI) - to provide a platform for thought leadership, policy recommendation and the promotion of business initiatives aimed at extending the benefits of capitalism to a broader set of stakeholders and society at large.
The HJI - guided by a trans-Atlantic, non-partisan task force of business, policy and academic leaders including Lady Lynn Forester de Rothschild, CEO of EL Rothschild, and Dominic Barton, Global Managing Director of McKinsey & Company - maintains that capitalism is the most powerful economic system that exists for lifting people out of poverty and building cohesive societies, but that it must more effectively serve long term value creation and the needs of the many, not short term gain and the needs of the few.
"The challenges we see in the system are neither irreparable nor inherent to capitalism itself," said Lady de Rothschild. "Capitalism, as it was conceived by Adam Smith, is not only the greatest engine for growth and prosperity that the world has ever known, but it is also a moral system, one where free markets are constrained by common values and a shared future. We can, and should, uphold these values and ensure that the benefits of capitalism are felt by everybody, not just a select few."
To mark the launch of the HJI, the task force has convened leading CEOs, policymakers and academics for a breakfast discussion on capitalism, its future, and how businesses can foster a more inclusive system.
At the event, the HJI revealed the results of its first white paper, "Towards a More Inclusive Capitalism," which identified three areas in which work needs to be done to make "capitalism for everybody" and recognized a number of companies already working in these areas to improve the current situation.