Prosperity by Colin Mayer Summary
Overview of Prosperity
Colin Mayer's "Prosperity" radically challenges corporate purpose, arguing businesses should prioritize societal good over shareholder profits. Financial Times' Martin Wolf reluctantly agrees with its revolutionary stance. This Oxford professor's manifesto is reshaping how influential economists view capitalism's future - could corporations actually save society?
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Key takeaways
The Corporation's Crisis of Purpose
Imagine a world where businesses exist not just to make money, but to solve meaningful problems for society. This isn't some utopian fantasy - it's actually the original purpose of corporations before we lost our way. Today, trust in corporations has plummeted to historic lows, and for good reason. The shareholder-primacy model that has dominated business thinking for half a century has created a system where profit trumps all other considerations. Yet the modern corporation has undergone a dramatic transformation that few fully appreciate. Intangible assets now comprise 85% of US corporate market value, compared to just 20% forty years ago. This seismic shift is exemplified by WhatsApp's $19 billion acquisition despite having minimal physical assets and operating at a loss. We're in a new era - what Colin Mayer calls "the Age of the Mindful Corporation" - but we haven't updated our thinking about what corporations are for. The corporation wasn't born as a profit-maximizing machine. It began as something far more noble. Corporate origins trace to Roman times through institutions that were fundamentally public in nature. The societas publicanorum could continue indefinitely, own property, and raise finance through tradable shares - creating "popular capitalism" two millennia before Margaret Thatcher. Medieval corporations administered towns, established universities, and managed charitable institutions. Even the Catholic Church advanced corporate law during the 11th-13th centuries by granting corporate rights to alms-houses and hospitals. Only in recent history did corporations lose their public purpose, with the profit motive completely overshadowing their public dimension.
The Corporation as a Living, Purposeful Organism
Measuring What Truly Matters
Law as a Creative Force for Purpose
Reimagining Finance for the 21st Century
Restoring Corporate Consciousness and Integrity
Reclaiming the Corporation's Public Purpose
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"It is great for me to learn something from the book without reading it."
"The themed book list podcasts help me connect ideas across authors—like a guided audio journey."
"Makes me feel smarter every time before going to work"
From Columbia University alumni built in San Francisco
"Instead of endless scrolling, I just hit play on BeFreed. It saves me so much time."
"I never knew where to start with nonfiction—BeFreed’s book lists turned into podcasts gave me a clear path."
"Perfect balance between learning and entertainment. Finished ‘Thinking, Fast and Slow’ on my commute this week."
"Crazy how much I learned while walking the dog. BeFreed = small habits → big gains."
"Reading used to feel like a chore. Now it’s just part of my lifestyle."
"Feels effortless compared to reading. I’ve finished 6 books this month already."
"BeFreed turned my guilty doomscrolling into something that feels productive and inspiring."
"BeFreed turned my commute into learning time. 20-min podcasts are perfect for finishing books I never had time for."
"BeFreed replaced my podcast queue. Imagine Spotify for books — that’s it. 🙌"
"It is great for me to learn something from the book without reading it."
"The themed book list podcasts help me connect ideas across authors—like a guided audio journey."
"Makes me feel smarter every time before going to work"
"Instead of endless scrolling, I just hit play on BeFreed. It saves me so much time."
"I never knew where to start with nonfiction—BeFreed’s book lists turned into podcasts gave me a clear path."
"Perfect balance between learning and entertainment. Finished ‘Thinking, Fast and Slow’ on my commute this week."
"Crazy how much I learned while walking the dog. BeFreed = small habits → big gains."
"Reading used to feel like a chore. Now it’s just part of my lifestyle."
"Feels effortless compared to reading. I’ve finished 6 books this month already."
"BeFreed turned my guilty doomscrolling into something that feels productive and inspiring."
"BeFreed turned my commute into learning time. 20-min podcasts are perfect for finishing books I never had time for."
"BeFreed replaced my podcast queue. Imagine Spotify for books — that’s it. 🙌"
"It is great for me to learn something from the book without reading it."
"The themed book list podcasts help me connect ideas across authors—like a guided audio journey."
"Makes me feel smarter every time before going to work"
"Instead of endless scrolling, I just hit play on BeFreed. It saves me so much time."
"I never knew where to start with nonfiction—BeFreed’s book lists turned into podcasts gave me a clear path."
"Perfect balance between learning and entertainment. Finished ‘Thinking, Fast and Slow’ on my commute this week."
"Crazy how much I learned while walking the dog. BeFreed = small habits → big gains."
"Reading used to feel like a chore. Now it’s just part of my lifestyle."
"Feels effortless compared to reading. I’ve finished 6 books this month already."
"BeFreed turned my guilty doomscrolling into something that feels productive and inspiring."
"BeFreed turned my commute into learning time. 20-min podcasts are perfect for finishing books I never had time for."
"BeFreed replaced my podcast queue. Imagine Spotify for books — that’s it. 🙌"
"It is great for me to learn something from the book without reading it."
"The themed book list podcasts help me connect ideas across authors—like a guided audio journey."
"Makes me feel smarter every time before going to work"
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