An economy working for all

The global business and political constellations are studded with star managers capable of delivering on particular objectives. Most business managers want to do what is best for their shareholders. Political mana­gers want their party to gain or remain in power in the next election, which is never more than five years away.

Sadly, the hallmarks of good leadership in business and politics are rarely seen in today’s realities. Last week I discussed how in the previous 40 years, the gap between the haves and the have-nots in our society kept increasing as the winners of capitalism cared very little about those who lost out. Massive economic changes found many workers unprepared to reinvent themselves and still prosper in a fast-evolving economic scenario.

The fractures in the economic model adopted by most, but not all, western countries are now too big to be left unattended without risking substantial social disruption. Maverick popu­lists exploit the greed of busi­ness leaders and the selfishness of most politicians and project themselves as the solution to the problems that many workers displaced from the new economy are facing.

FT journalist Martin Sandbu and a group of...