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MAKING MONEY MORAL

HOW A NEW WAVE OF VISIONARIES IS LINKING PURPOSE AND PROFIT

A brief but wide-ranging primer on an increasingly hot topic.

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An expertly detailed synopsis of a major shift in the global corporate environment toward pairing profitability with a moral mission.

According to Rodin and debut author Madsbjerg, the world of commerce has recently undergone a seismic shift, the kind that promises to refashion the very nature of capitalism. While social responsibility was once understood as exhausted in the maximization of shareholder value, an idea forcefully articulated by Milton Friedman, now the trend is to interpret making money and doing good as necessary partners or, as the authors put it, to “make money moral.” Linking purpose and profit is burgeoning in the world of investment: “In sustainable and impact investing, the financial resources and expertise of the money managers are what enable large-scale capital flows to be directed toward solving global challenges—social and environmental issues that the problem solvers are working to fix.” A confluence of events—including the rise of aggressive activism, increasing awareness of systemic problems like income inequality, and the devastation wrought by Covid-19—engendered a more enlightened “conscious consumerism” and a corporate world ready to respond to their demands. Regarding investing, this entails a collaboration between money managers (the whole cosmos of asset managers) and problem-solvers (governmental and nonprofit)—a sometimes fraught partnership thoughtfully addressed by the authors. Rodin and Madsbjerg write from extensive experience, and it shows—the former was the president of The Rockefeller Foundation, the latter, its managing director. They cover the subject with impressive thoroughness and pragmatism, conceding that the line between the hunt for justice and the one for financial growth can be difficult to discern and that the moral advocacy of some organizations should be construed “with a degree of skepticism.” One still wishes this central issue was considered at greater length and with less hyperbolic optimism. Nevertheless, this is an edifying study—and an engaging introduction to the subject.

A brief but wide-ranging primer on an increasingly hot topic.

Pub Date: Feb. 9, 2021

ISBN: 978-1-61363-110-2

Page Count: 182

Publisher: Wharton School Press

Review Posted Online: Feb. 23, 2021

Kirkus Reviews Issue: April 15, 2021

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MAGIC WORDS

WHAT TO SAY TO GET YOUR WAY

Perhaps not magic but appealing nonetheless.

Want to get ahead in business? Consult a dictionary.

By Wharton School professor Berger’s account, much of the art of persuasion lies in the art of choosing the right word. Want to jump ahead of others waiting in line to use a photocopy machine, even if they’re grizzled New Yorkers? Throw a because into the equation (“Excuse me, I have five pages. May I use the Xerox machine, because I’m in a rush?”), and you’re likely to get your way. Want someone to do your copying for you? Then change your verbs to nouns: not “Can you help me?” but “Can you be a helper?” As Berger notes, there’s a subtle psychological shift at play when a person becomes not a mere instrument in helping but instead acquires an identity as a helper. It’s the little things, one supposes, and the author offers some interesting strategies that eager readers will want to try out. Instead of alienating a listener with the omniscient should, as in “You should do this,” try could instead: “Well, you could…” induces all concerned “to recognize that there might be other possibilities.” Berger’s counsel that one should use abstractions contradicts his admonition to use concrete language, and it doesn’t help matters to say that each is appropriate to a particular situation, while grammarians will wince at his suggestion that a nerve-calming exercise to “try talking to yourself in the third person (‘You can do it!’)” in fact invokes the second person. Still, there are plenty of useful insights, particularly for students of advertising and public speaking. It’s intriguing to note that appeals to God are less effective in securing a loan than a simple affirmative such as “I pay all bills…on time”), and it’s helpful to keep in mind that “the right words used at the right time can have immense power.”

Perhaps not magic but appealing nonetheless.

Pub Date: March 7, 2023

ISBN: 9780063204935

Page Count: 256

Publisher: Harper Business

Review Posted Online: March 23, 2023

Kirkus Reviews Issue: April 15, 2023

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#GIRLBOSS

Career and business advice for the hashtag generation. For all its self-absorption, this book doesn’t offer much reflection...

A Dumpster diver–turned-CEO details her rise to success and her business philosophy.

In this memoir/business book, Amoruso, CEO of the Internet clothing store Nasty Gal, offers advice to young women entrepreneurs who seek an alternative path to fame and fortune. Beginning with a lengthy discussion of her suburban childhood and rebellious teen years, the author describes her experiences living hand to mouth, hitchhiking, shoplifting and dropping out of school. Her life turned around when, bored at work one night, she decided to sell a few pieces of vintage clothing on eBay. Fast-forward seven years, and Amoruso was running a $100 million company with 350 employees. While her success is admirable, most of her advice is based on her own limited experiences and includes such hackneyed lines as, “When you accept yourself, it’s surprising how much other people will accept you, too.” At more than 200 pages, the book is overlong, and much of what the author discusses could be summarized in a few tweets. In fact, much of it probably has been: One of the most interesting sections in the book is her description of how she uses social media. Amoruso has a spiritual side, as well, and she describes her belief in “chaos magic” and “sigils,” a kind of wishful-thinking exercise involving abstract words. The book also includes sidebars featuring guest “girlbosses” (bloggers, Internet entrepreneurs) who share equally clichéd suggestions for business success. Some of the guidance Amoruso offers for interviews (don’t dress like you’re going to a nightclub), getting fired (don’t call anyone names) and finding your fashion style (be careful which trends you follow) will be helpful to her readers, including the sage advice, “You’re not special.”

Career and business advice for the hashtag generation. For all its self-absorption, this book doesn’t offer much reflection or insight.

Pub Date: May 6, 2014

ISBN: 978-0-399-16927-4

Page Count: 256

Publisher: Portfolio

Review Posted Online: June 22, 2014

Kirkus Reviews Issue: July 15, 2014

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