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FORBES.COM NOVEMBER 30, 20 19Reimagining Capitalism
This issue marks our fourth go-round with the Just 100,
a ranking of corporate citizenry based on what tens of
thousands of Americans have said they expect from the
largest corporations. It’s a massive undertaking, spear-
headed by Just Capital, a nonprofit dedicated to ensuring
that businesses deliver on behalf of all stakeholders—cus-
tomers, employees, partners and the environment as well
as the shareholders.
More than simply important journalism, the Just 100
is part of a three-pronged approach to reimagining cap-
italism first alluded to in a cover essay in March. For 2020
we’re committed to delving deeper into all three.
Corporate accountability: We’re working with Just
Capital to expand the Just 100—digitally, in print and at
live events—highlighting those that practice stakeholder
capitalism and calling out those that erode American
trust in free enterprise. As our founder, B.C. Forbes, wrote
a century ago, the purpose of business is to create happi-
ness, not pile up millions.
Philanthropy and giving back: As best we can mea-
sure, there are now over 2,000 billionaires in the world,
including more than 100 worth 11 figures. Large-stakes
philanthropy is the only viable path forward for these
tycoons—you can’t (nor shouldn’t) spend it down, and
leaving huge, unfettered sums to heirs produces bad,
sometimes tragic outcomes. We’re partnering with the
advocacy group Global Citizen to expand our Philan-
thropy scorecard, rewarding those who put the money to
good use now, versus crediting people for future pledges
or for parking it in a perpetual foundation.
Inclusivity: Earlier this fall, we published a widely—
and justly—criticized list, purportedly of America’s most
innovative leaders, that included only one woman. By
basing it on public company CEOs, we started with a
hopelessly skewed pool. In failing to course-correct, we
exposed flaws in our systems, too. As we advise entrepre-
neurs constantly, the only truly bad mistake is the one
you don’t improve from. So we convened an internal task
force and implemented all their recommendations (in-
cluding methodology audits and a policy to elevate red
flags to the top). In a few months, we’ll devote an entire
print issue to Inclusive Capitalism. In the interim, our
writers will seek stories that highlight systemic change.
The goal is to ensure that everyone has a seat at the table.
The free market system is the greatest driver of pros-
perity—and, yes, happiness—ever created. But just as
capitalism demands evolution, so capitalism itself needs
to evolve. We intend to help lead this metamorphosis.Sidelines
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FORBES—RANDALL LANE, CHIEF CONTENT OFFICERCHAIRMAN AND EDITOR-IN-CHIEF: STEVE FORBES; CEO AND PRESIDENT: MICHAEL FEDERLE
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COMMUNICATIONS: Matthew Hutchison (SVP); Laura Brusca, Susan Masula, Jocelyn Swift, Christina Vega
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Founded in 1917
B.C. Forbes, Editor-in-Chief (1917–54) Malcolm S. Forbes, Editor-in-Chief (1954–90)James W. Michaels, Editor (1961–99) William Baldwin, Editor (1999–2010)NOVEMBER 30, 2019 | VOLUME 202 NUMBER 9