Larry Fink's Capitalist Shell Game
The chairman and CEO of the world's largest asset manager has once again made waves by exhorting his fellow corporate leaders to embrace "stakeholder capitalism." Unfortunately, their understanding of that concept is far too limited and stops well short of the radical reforms needed to transform capitalism in the interests of people and the planet.
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LONDON – BlackRock Chairman and CEO Larry Fink’s latest annual letter has taken the business world by storm. BlackRock is the world’s largest asset manager, and Fink, addressing the CEOs of the companies whose assets his firm manages on behalf of investors, took the opportunity to advocate a more ecologically sustainable, socially conscious, forward-looking form of capitalism rooted in stakeholder rather than shareholder value.