The New Capitalists: How Citizen Investors are Reshaping the Corporate Agenda

摘要

In 1976, Peter Drucker, one of the great management theorists and keen observers of political-economic events, wrote a little-known book entitled The Unseen Revolution. In that 205-page treasure, he predicted the rise of pension ownership and power in American society, and it was one of his most prescient works. Exactly 30 years later, his message and themes have been updated and repackaged in The New Capitalists, by three highly experienced pension and corporate governance practitioners, Stephen Davis, Jon Lukomnik and David Pitt-Watson. These authors offer a fluid and well-organized description of how pension power in the 21st century is transforming the relationship between public corporations and their pension fund owners. This book also introduces a new lexicon to its readers including the "circle of accountability" that integrates the interests of tens of millions of workers and retirees as individual shareowners (the "new capitalists"), through institutional investors, with the interests of boards of directors, corporations, and corporate executives.