Overview

Peter Georgescu explains how his American Dream journey-from refugee to the CEO of Young & Rubicam-is no longer possible, and the underlying culprit is shareholder primacy. The income gap is growing larger and larger, and Georgescu argues that only a return to a true form of capitalism will begin to decrease that gap. Peter Georgescu is scared, as are some of his more farsighted fellow millionaires and billionaires-not ""of Al Qaeda or the vicious Islamic State or some other evolving radical group . . . We are afraid of where income inequality will lead."" So begins both his 2015 op-ed piece in the New York Times, which generated over 1,000 comments, and this book. Georgescu believes the capitalism that allowed a penniless refugee like him to rise to the top no longer exists. He vividly depicts the damage income inequality is doing and examines the trends and developments that have led to our current crisis. He argues to his fellow capitalists that they are the ones best positioned to fix this problem because they can directly address it. They need to look beyond a single-minded focus on maximizing the short-term profits their shareholders demand and serve the interests of all their stakeholders-employees, customers, society, and the environment. This book offers solutions, which are deep, rich, and compelling.

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9798228721708

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Peter Georgescu is chairman emeritus of Young & Rubicam. He served as the company's chairman and CEO from 1994 until January 2000. In recognition of his contributions to the marketing and advertising industry, he was elected to the Advertising Hall of Fame in 2001. Georgescu has been the director of the board for eight public companies, among them Levi Strauss, IFF, Toys""R""Us, and EMI Recorded Music. He is currently vice chairman of New York-Presbyterian Hospital, a trustee of the Paul and Daisy Soros Fellowships for New Americans program, and a member of the Council on Foreign Relations. He is the author of two previous books, The Source of Success: Five Enduring Principles at the Heart of Real Leadership and The Constant Choice: An Everyday Journey from Evil toward Good. David Dorsey is the author of the critically acclaimed The Force and The Cost of Living. The Force was included in The 100 Best Business Books of All Time. Dorsey is coauthor, with Peter Georgescu, of The Source of Success and The Constant Choice. He has written for Fast Company, Esquire, Worth, and a variety of other publications. Wes Bleed is a professional motivational speaker, as well as the vice president of Mack Commincations, a public affairs and public relations firm based in the Chicago area. For more than twenty-five years, he worked as a contributing reporter for the ABC Radio network, as well as a new anchor and news director. He received his bachelor's degree in speech communication from Wheaton College.

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