HARD CHOICES The importance of thoughtful deliberation—and its implications for the future of capitalism

December 10, 2018

I suspect there’s a great deal that most of us can agree on about capitalism. The free enterprise system, of which HBS is an essential part, has lifted billions of people around the world out of poverty. It provides the backdrop for unleashing boundless human potential. It has made the US an economic powerhouse. It has played a major role in capital being allocated to the most productive uses. Free enterprise has led to the creation of a staggering number of jobs that support families and the invention of a wide range of innovative and affordable products that make people’s lives easier, safer, and more enjoyable. In many capitalist economies in 2018, and especially in our own, innovation is unending, and its pace may even be accelerating. The creative destruction of capitalism gives it a remarkable advantage over other systems. You sometimes have to be willing and able to tear down in order to build up. The old and proven and venerable must sometimes give way to the new and innovative and transformational.

 

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