John Kay, "The Corporation in the 21st Century: Why (Almost) Everything We Are Told about Business Is Wrong" (Yale UP, 2025)
New Books Network
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Redefining Business: Beyond Profits to People
This chapter reflects on the author's insights gained from decades in business, highlighting a shift from traditional profit maximization to emphasizing human capital. It explores the historical evolution of labor dynamics, particularly during critical periods like the Gilded Age, and examines how modern companies prioritize people over physical ownership in their operational strategies. Additionally, the chapter discusses the concept of economic rent and its significance in understanding the revenue generation of contemporary firms.
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