Purposeful Capitalism

"An engaging and thought-provoking read. Purposeful Capitalism makes a compelling case that corporate profit is not the enemy of human progress. Blending economic history with vivid storytelling, Qian provides an insightful perspective on how business leaders can align strategy, competitive advantage, and sustainability to create value for both society and shareholders."
— Cary Krosinsky , Lecturer at Yale University, US

"A fascinating insider look at how companies combine business and ethics, Purposeful Capitalism is an essential read for understanding our modern economy." 
— William Magnuson , best-selling author of For Profit: A History of Corporations

“ Purposeful Capitalism offers a clear-eyed examination of how companies can create long-term value while addressing real societal needs. Through rigorous case studies and a practical framework, Qian shows that purpose and profitability are strongest when grounded in strategy and discipline. This is a thoughtful contribution for business leaders and investors navigating today’s complex environment.”
— Matt Oppenheimer , Co-Founder and CEO at Remitly

In today’s polarising world, businesses frequently face competing demands from across the political spectrum. Progressives are pushing companies to minimise environmental footprints and enhance diversity, equity and inclusion, while conservative activists are labelling those initiatives as “woke” and urging executives to focus solely on profit maximisation. 

How should corporate leaders navigate this volatile landscape? Purposeful Capitalism charts a path forward, centred on the idea of profitable problem-solving. Drawing on lessons from fourteen well-known companies across industries and countries, this book argues that businesses must promote human progress by tackling societal challenges. This requires harnessing the best elements of capitalism, including the ability to attract investment and motivate people through financial rewards. Profit, when it stems from value-creating activities rather than a myopic obsession with financial engineering, should be celebrated, not vilified. 

Engaging and insightful, the book introduces a new framework — the Sustainability Flywheel — which explores how strategy, business models, and sustainability factors interact to create financial value. It shows that good intentions don’t guarantee commercial success. Instead, business leaders must focus on material issues aligned with their strategy and competitive advantage. The result is a more nuanced perspective that moves beyond dogmatic debates about sustainability and capitalism.

Offering practical guidance for business leaders and investors, Purposeful Capitalism is vital reading for anyone interested in improving our economic system and building a flourishing society.

Lee Qian is the co-portfolio manager of Baillie Gifford’s Positive Change Strategy, a global equity strategy that aims to generate attractive investment returns and contribute towards a more sustainable, healthy and inclusive world. In his role, he conducts fundamental analyses of companies, selects investments for client portfolios, and engages with executives and board members of portfolio companies on strategic, capital allocation, and sustainability topics. His experience with the Positive Change Strategy gives him unique insights into how businesses can deliver both profits and positive societal impact. Lee also holds a first-class degree in Economics and Management from Oxford University.