Why the Growing Gap Between Business and the Public Hurts Both

Herbert Hoover said that “the business of America is business.” If he were around today, in the age of globalization, he might have referred to the business of the world.Yet as our current election shows, as the recent Brexit votes showed, the connection between people and business has never been more tattered and frayed.Globalization itself, disruption, dislocation, the obsession with short term profits and shareholder value, coupled with the free flow of goods and money and jobs around the world, has created a chasm between the world’s businesses and ordinary citizens.At a time when technology has made it easier for citizens to actually come together and be engaged, business has too often retreated to its C Suites in the hopes that the storm would pass.But the clouds are getting darker. With more automation and AI, now reaching virtually every sector of work.With worker and public anger reaching toxic levels, business can no longer hide, it must be, in the words of former BP Chief Executive John Browne, more willing to Connect.My conversation with Lord John Browne: Get full access to Talk Cocktail Podcast at jeffschechtman.substack.com/subscribe