BOOK TIP | Government and capitalism in the same boat

Can business, government and society work together to address global challenges such as climate change, cybersecurity, disease, food security and education? In the book Venture Meets Mission , authors Arun Gupta, Gerard George and Thomas Fewer, all researchers and professors at Georgetown University, USA, argue that it can. But to succeed in creating a capitalism focused on social good, the focus must be on building trust between sectors.

The existing entrepreneurial ecosystem, combined with public resources, can be used to tackle major societal problems. With examples from entrepreneurs and leaders in innovation and public administration, the authors show how companies can integrate socially beneficial goals into their business models.

The authors also discuss the need to change the perception of both entrepreneurship and the public sector. By ‘personalizing entrepreneurship’ and ‘humanizing government’, cooperation between these sectors can be more effective. The authors also present models of public-private partnerships where private sector innovation is scaled up with the help of the state – which they say can solve critical societal problems.