Matthew Bishop—author of Philanthrocapitalism, visiting senior fellow of the Brookings Institution and a founder of the Social Progress Initiative—discusses how we can begin to rethink, and reform, capitalism and better value all workers’ contributions. As we plan to emerge from a period of extreme disruption, our economic framework needs to be reconfigured and the human capital of America assessed as to whether it’s well-suited for the Future of Work.   KEY TAKEAWAYS   [04:00] The pandemic highlighted existing fault lines and intensified and accelerated disruptions that were already underway.   [05:37] Why does capitalism need to be reformed?    [06:55] After the crash of 2008, it became clear that we have a system of two halves – with almost all benefits going to the half with financial capital.   [07:45] COVID caused economic justice to rise to the top of the political agenda because of its impact on the average worker who already felt insecure about work.   [08:48] Capitalism wasn’t delivering for the average family and COVID accelerated the need to address this.   [08:57] The significance of the Business Roundtable announcement about all stakeholders, not just shareholders, benefiting.   [09:56] Why it makes sense to separate workers out from the rest of ‘social’ in the ‘S’ of ESG.   [10:43] There are a lot of conversations right now on how to be a better employer--but a big challenge is to figure out how to find broad agreement.   [11:49] WorkMoney is a new organization lobbying for working family rights in Washington—including the delineation between employees and independent contractors.   [12:50] What can be reconfigured to reform capitalism—setting an enabling context?   [13:33] Next steps--vocal companies talking about long-term stakeholder strategy.   [14:23] Measuring how companies are performing against UN Sustainable Development Goal targets.   [15:20] Is it time to reformulate GDP since it has never adequately measured progress?   [16:33] Matthew co-founded the Social Progress Index—a series of measures of the good society to use alongside GDP.   [17:22] COVID highlighted places with poor social performance as more vulnerable to deaths.   [18:39] What ‘normality’ may look like with the release of pent-up demand!   [20:28] Companies will be judged on how they responded during the crisis.   [22:00] CEOs know they have to change, but will their investors punish them if they do?   [23:40] The younger generation has seen nothing but chaos and catastrophe which likely results in jadedness and low trust levels.    [24:31] Without long-term career prospects, employees are happy to share opinions about their companies publicly especially credentials about social issues.   [26:40] Google has a large percentage of contract workers who are treated differently to employees.   [27:57] A bifurcated workforce can exist where high-paid employees are not focused on the social contract as regular employees are.    [29:47] Gender bias in management may improve after men have been more exposed in home-based chores and challenges during the pandemic.   [30:51] Matthew believes the ability to work from home will be an option for almost every job going forward.   [31:17] African American billionaire Robert Smith has proposed the 2% Solution to the Business Roundtable to address structural social challenges.    [33:17] COVID has highlighted deep social and structural problems in the economy and how difficult it is to get ahead.     [34:35] There will be a need for a massive re-skilling.   [35:19] The average American family needs to be equipped for the new world of work.   [36:02] A new initiative to create a national human capital strategy for America.    [37:03] The private sector needs to collaborate with universities and colleges and discuss future skills’ needs and what degrees will prepare future employees best.   [38:44] Employers, educators, and the government ought to get together and talk about what the future of work looks l