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A post-inflection new social contract — Part 3: So many processes, so little time!

Rita McGrath
5 min readMar 16, 2021

Thought Spark

In March of 2020, one of the possible scenarios for 2021 was a revival of FDR’s rendezvous with destiny approach to the New Deal — are we there yet?

Which scenario will it be?

D x V x P: A Formula for Change

Before you can have lasting, change, you need constructive dissatisfaction with the current state, a vision for the future state, and a process that removes obstacles from where we are and where we’d like to get to.

We can check the “dissatisfaction” box. We’re on shakier ground with a unifying vision for how we might move forward. With the advent of a new administration in Washington, nonetheless, there are no shortage of policy proposals intended to create significant changes to the American social contract.

Reimagining Capitalism — back to the future

In a recent interview, Rebecca Henderson notes, “one friend I talked to said, “You shouldn’t really call it (her book), Reimagining Capitalism, you should’ve called it Rediscovering the Capitalism We Had in the ’50s and ’60s, Only Without the Misogyny and the Racism, right?”

She suggests three vectors for change:

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Rita McGrath
Rita McGrath

Written by Rita McGrath

Columbia Business School Professor. Thinkers50 top 10 & #1 in strategy. Bestselling author of The End of Competitive Advantage & Seeing Around Corners.

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