The New Capitalists
Encyclopedia
The “New Capitalists” is a term used by Stephen Davis, Jon Lukomnik and David Pitt-Watson
in a book of the same title. It describes the increasing ownership of companies by collective investment schemes representing millions of savers. The millions of savers are defined as the “New Capitalists.” They include individuals with retirement savings, life insurance and other direct and indirect equity investments. Currently they represent between one half and one third of the adult population of most developed countries, and own between 40% and 80% of the outstanding shares on the stock markets of the developed world.
’s capitalist self-interest in The Wealth of Nations with Peter Drucker
, who predicted the rise of institutional investors repping everyday people, to get The New Capitalists, which says, listen to your investors—or pay the consequences.”
David Pitt-Watson
David Pitt-Watson is a Scottish business and social entrepreneur and author. He is currently a Senior Advisor to Deloitte Consulting and Hermes Pension Management Limited...
in a book of the same title. It describes the increasing ownership of companies by collective investment schemes representing millions of savers. The millions of savers are defined as the “New Capitalists.” They include individuals with retirement savings, life insurance and other direct and indirect equity investments. Currently they represent between one half and one third of the adult population of most developed countries, and own between 40% and 80% of the outstanding shares on the stock markets of the developed world.
The Book
The book describes how the existence of millions of beneficial owners changes the nature of company goals, and the meaning of shareholder value. Though companies may avoid the influence of these new owners, the book argues that a series of forces, collectively known as the civil economy are strengthening markedly the influence of the New Capitalists. The Wall Street Journal, Financial Times and Australian Financial Review named The New Capitalists as one of the best business books of 2006. Fast Company Magazine’s review said: “Combine Adam SmithAdam Smith
Adam Smith was a Scottish social philosopher and a pioneer of political economy. One of the key figures of the Scottish Enlightenment, Smith is the author of The Theory of Moral Sentiments and An Inquiry into the Nature and Causes of the Wealth of Nations...
’s capitalist self-interest in The Wealth of Nations with Peter Drucker
Peter Drucker
Peter Ferdinand Drucker was an influential writer, management consultant, and self-described “social ecologist.”-Introduction:...
, who predicted the rise of institutional investors repping everyday people, to get The New Capitalists, which says, listen to your investors—or pay the consequences.”