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Capitalism is under siege (Porter & Kramer, 2011), and business schools are under fire (Amann et al., 2013). So, management and leadership education in higher education institutions should be reinvented under the more challenging era of capitalism. How then can business schools cope with these challenges and contribute to global endeavor for making sustainable capitalism? In this context, there is thus reason for the following three core concerns that new understanding of management and leadership education is required. First, shortcomings of contemporary capitalism lead to failures of responsible management. Second, ethical failure of management leadership is a pressing issue. Third, academic responsibility under the new capitalism remains unexamined. Based on these three core concerns, we seek to generate inclusive insights into the educational embeddedness of management and leadership members and the consequences of such embeddedness on managerial processes, structures, and outcomes under contemporary capitalism.

The contemporary dialog surrounding social and environmental crises has strengthened the call for a reconsideration of the capitalist economic system, prompting a reimagining of businesses’ societal roles. This chapter explores the shifting terrain of corporate purpose as a driving force for positive societal change, challenging the traditional shareholder primacy doctrine.

After examining influential theoretical frameworks shaping the discourse on corporate purpose, this research unveils the results of an empirical investigation inspired by the 2019 American Business Roundtable’s (BRT) statement on corporate purpose, where numerous prominent American CEOs advocated for a shift toward a stakeholder-oriented approach. In our exercise, the authors employ semantic and cognitive linguistic analyses to measure the coherence between the language in the BRT statement and the content of sustainability reports. This approach aims to offer insights into the alignment or divergence between corporate declarations and actual practices concerning corporate purpose.

Empirical findings reveal that corporations emphasizing their purpose in sustainability reports using language resembling that of the BRT statement tend to demonstrate lower implementation scores. Conversely, implementors lean toward using language in sustainability reports that diverges from the BRT statement. These findings suggest a potential disconnection between stated purpose and actual implementation in companies emphasizing corporate purpose in their reports.

The study research contributes theoretical insights by exploring how corporations can incorporate purpose-driven practices to promote sustainable growth and societal well-being. It underscores the potential for businesses to play a pivotal role in reshaping the economic landscape and advocates for ongoing research in humanistic management models.

Drawing on anthropological perspectives, this paper argues that the fungibility of objects and the ability to exchange them for money is a defining characteristic of capitalist markets. In contrast, other systems of reckoning value emphasize the unique relationships within which objects are embedded and their inability to stand for just any other thing. This paper further highlights the role of slavery in the origins and continued dominance of capitalism and the existence of alternative systems such as cooperativism and sharing that are often overlooked. This paper then examines the Saussurean and Peircean semiotics underlying the concept of money as an abstract sign and argues that non-fungible tokens (NFTs) in blockchain technology contradict these theories by emphasizing pure uniqueness and rendering objects non-transformable or inconvertible. This paper concludes by warning against the dangers of a future where fungibility is absent, as it is necessary for life and the generation of new and different possibilities.

The aim of this paper is to propose a basis upon which accounting reporting can be developed to reflect real values and the real economy. It aims to address the environmental considerations discussed in the UN debate (Bebbington and Unerman, 2020) and the concern for a “better life-world”, which is the theme of this special issue.

Addressing the task involves the application of the philosophy of pragmatic constructivism (which explains how people can relate to their reality in ways that lead to successful action) and the philosophical concept of the “good life” (which establishes the values to be pursued through action and so defines action success). Also, it outlines the necessary characteristics of measurement frameworks if they are to be effective in the development and control of human practices to achieve desired values.

This paper proposes a conceptual framework for guiding the measurement of how a sustainable good life has improved and/or deteriorated as a result of organisational activities. It outlines a system of concepts on basic and instrumental values for analysing the condition of maintaining a sustainable good life in real terms. This is related to the financial results and societal regulations to analyse and adjust controls according to the real economic goals. Also, it provides a system of value measurands to produce valid information about the development of a sustainable good life. The measurand makes accounting reporting reflect the conditions of the good life that constitute the real economy instead of merely the financial economy driven by shareholder capitalism. Providing tools to analyse whether the existing practices of business and social regulations promote or counteract the real economic goals of producing a sustainable good life means the measurement system proposed makes the invisible hand of the market visible.

The mechanism proposed to enable accounting reporting to reflect real values and the real economy is a new conceptual framework that will allow accounting to more fully realise its potential to contribute to a “better world”. In aiming to serve a sustainable good life, accounting reporting will inherently foster ethical social practices.

This chapter focuses on ecofeminism that primarily refers to feminist theory and activism informed by ecology. Ecofeminism is concerned with real connections between humans and Nature, as also by the domination of Nature by man and, specifically, by women's subservience to men. The foundational ecofeminist assumption is that environmental issues are basically feminist issues, and vice versa. It believes that ecofeminism, best understood and operationalized, can restore Mother Nature (endangered by industrial extraction and exploitation) and reassure rights to animals (deanimalized and threatened by factory farming). Although ecofeminism is a diverse movement, ecofeminist theorists share the presupposition that social transformation is necessary for ecological survival, that intellectual transformation of dominant modes of thought must accompany social transformation, that Nature teaches and reveals nondualistic, nonhierarchical systems of relations that are models for social transformation of values, and that human and cultural diversity are values in social transformation; some of these values and movements even influenced the world via the UN. Accordingly, this chapter highlights major positive contributions of ecofeminism.