New Books Network
John Kay, "The Corporation in the 21st Century: Why (Almost) Everything We Are Told about Business Is Wrong" (Yale UP, 2025)
Apr 9, 2025
In a stimulating discussion, John Kay, a renowned British economist and former dean of Oxford's Said Business School, explores his book on modern business dynamics. He argues that the relationship between capital and labor has fundamentally shifted, with workers now seen as the means of production. Kay critiques traditional profit motives, emphasizing the importance of human capital and innovation over mere financial gains. He also highlights the implications of corporate priorities shifting towards short-term shareholder value, urging a reevaluation of business practices in today's economy.
55:15
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Quick takeaways
- The shift from capital ownership to human talent as the primary asset has redefined modern business success and operations.
- Contemporary business leaders have moved from prioritizing sustainable practices to focusing on short-term shareholder value, impacting company longevity.
Deep dives
The Evolution of Business Dynamics
The landscape of business has fundamentally shifted from one centered on physical capital to one driven by human talent. Historically, companies were built around ownership of factories and machinery, but now, firms like Apple and Amazon exemplify that the real assets are the people within the organization. This change signifies a move away from traditional business models where leaders had direct control over tangible assets, to a contemporary framework where success hinges on collaboration and service contracts with external providers. The modern entrepreneur focuses on integrating varied capabilities rather than solely managing fixed assets.
