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A radical reformulation of our notions of business, its roles and responsibilities, and the way it operates
Argues that the prevailing understanding of corporations leads to inequality, poor innovation, environmental degradation, and a lack of growth
Sets out a renewed vision of how the corporation can create both economic and social wellbeing, and how regulatory and tax regimes can enable this change




What is business for? Day one of a business course will tell you: it is to maximise shareholder profit. This single idea pervades all our thinking and teaching about business around the world but it is fundamentally wrong, Colin Mayer argues. It has had disastrous and damaging consequences for our economies, environment, politics, and societies.
In this urgent call for reform, Prosperity challenges the fundamentals of business thinking. It sets out a comprehensive new agenda for establishing the corporation as a unique and powerful force for promoting economic and social wellbeing in its fullest sense - for customers and communities, today and in the future.

First Professor and former Dean of the Säid Business School in Oxford, Mayer is a leading figure in the global discussion about the purpose and role of the corporation. In Prosperity, he presents a radical and carefully considered prescription for corporations, their ownership, governance, finance, and regulation. Drawing together insights from business, law, economics, science, philosophy, and history, he shows how the corporation can realize its full potential to contribute to economic and social wellbeing of the many, not just the few.

Prosperity tells us not only how to create and run successful businesses but also how policy can get us there and fix our broken system.



Table of Contents

Part I: Principles
1:Purpose
2:Values
Part II: Provenance
3:Evolution
4:Ownership
Part III: Practice
5:Governance
6:Performance
Part IV: Policy
7:Law
8:Regulation
Part V: Partnership
9:Finance
10:Investment