Collaborative Capitalism: The power of business and government working together
By Joe Echevarria - January 22, 2013
Last year was the first time I attended the annual World Economic Forum in Davos, Switzerland. It was a unique opportunity to hear insights from influential world leaders about the most pressing business issues and to discuss the critical role America plays in the global economy.
While last year’s event was marked by uncertainty with the volatile global economy, decreased trust in business, and the U.S. presidential elections, I anticipate this year’s discussion will focus on how we move the global economy forward to achieve a state of resilient dynamism, the theme of this year’s Forum, emphasizing the need to be both adaptable and fluid. To do this, we will need a bold vision and even bolder action. In our post-fiscal cliff reality, encouraging partnership between business and government is critical to creating more effective policies, restoring confidence, and increasing certainty, while creating a solid foundation for future growth. I like to call this fresh take on partnership Collaborative Capitalism.
In the U.S., the Obama Administration and Congress have taken the first step—preventing a tax increase on most Americans—but now we need to lay the groundwork for a sustainable future by addressing the hard questions (debt ceiling, entitlements, corporate tax reform, discretionary spending, and immigration reform) which remain unanswered. For too long, the status quo has been a fragmented and disjointed way of working together, as we saw with the fiscal cliff. Collaborative Capitalism is a way to shift the conversation away from merely distributing value to creating it...together.
At Deloitte LLP, we’re already collaborating this way by increasing our emphasis on creating value—whether it’s engaging with the White House and “Fix the Debt” on fiscal policy development or partnering with City Year to improve high school graduation rates as a way to combat the nation’s skills and talent gap. Collaborative Capitalism, not only between business and government, but also between business and across borders, is what will ultimately help to strengthen the economy and make America and the world stronger.
I’m looking forward to this year’s Forum to discuss ways to drive the global economy forward and have some great opportunities lined up to connect with clients, media, and global influencers.
Joe Echevarria is CEO of Deloitte LLP, the U.S. member firm. His leadership responsibilities extend to approximately 50,000 professionals, and he serves some of the firm's largest and most valued clients. He is actively engaged on Capitol Hill as part of the Federal practice growth strategy and has testified before numerous commissions and agencies. Joe also chairs the U.S. Executive, is a member of the Deloitte Touche Tohmatsu Limited (DTTL) Executive and DTTL Board, and serves on the Americas Executive.