SOURCE: Kellogg School of Management

Kellogg School of Management

September 21, 2015 10:38 ET

Renowned Marketing Expert and Kellogg School of Management Professor Philip Kotler Launches New Website

Kotler's Website Follows Latest Book, "Confronting Capitalism: Real Solutions for a Troubled Economic System"

EVANSTON, IL--(Marketwired - September 21, 2015) - Dr. Philip Kotler, professor of at Kellogg School of Management at Northwestern University, is most known for his contributions and expertise in marketing and he now shares his insights on capitalism and the 14 shortcomings through his new website, FixCapitalism.com.

The site is designed for consumers who are worried about the inherent conflict between democracy and unchecked capitalism, the shrinking middle class or the growing inequality now have a new resource.

"Workers' earnings have not kept up with rising company productivity. Much of the income gains has gone to the one percent. Many workers are still earning less than a living wage. The result is they go into debt to meet their bare consumption needs," said Kotler. "As a result of workers having less to spend, our economic growth slows down which in turn makes things get worse for both workers and capitalists. Fortunately some companies have started to raise worker pay and some cities are establishing a higher minimum wage."

Kotler launched the new website following his 2015 book, Confronting Capitalism: Real Solutions for a Troubled Economic System. By gathering the commentaries and views of many writers and readers, FixCapitalism.com builds an online forum where citizens and experts recommend programs and solutions in a series of discussions.

FixCapitalism.com and Kotler address the following 14 shortcomings of capitalism with expert commentary and user-generated comments:

  1. Proposes little or no solution to persistent poverty
  2. Generates a growing level of income inequality
  3. Fails to pay a living wage to billions of workers
  4. Not enough human jobs in the face of growing automation
  5. Doesn't charge businesses with the full social costs of their activities
  6. Exploits the environment and natural resources in the absence of regulation
  7. Creates business cycles and economic instability
  8. Emphasizes individualism and self-interest at the expense of community and the commons
  9. Encourages high consumer debt and leads to a growing financially-driven rather than producer-driven economy
  10. Lets politicians and business interests collaborate to subvert the economic interests of the majority of citizens
  11. Favors short-run profit planning over long-run investment planning
  12. Should have regulations regarding product quality, safety, truth in advertising, and anti-competitive behavior
  13. Tends to focus narrowly on GDP growth
  14. Needs to bring social values and happiness into the market equation.

Kotler is the author of more than 55 books, most dealing with the role played by marketing in contributing to capitalism's success. He is an economist who trained under Milton Friedman for his MA from the University of Chicago and under Paul Samuelson and Robert Solow for his Ph.D. from M.I.T. His last two economics books are Market Your Way to Growth and Winning Global Markets. Kotler is the founder of the World Marketing Summit, its 4thannual summit to be held Oct. 13-14, 2015 in Tokyo. He has received more than 20 honorary degrees and he is one of the few economists honored on a postage stamp.

About Kellogg School of Management
The Kellogg School of Management at Northwestern University develops brave leaders who inspire growth in people, organizations and markets. Based just outside of Chicago, the school is a global leader in management education, renowned for its distinctive thought leadership and pioneering approach to learning. Kellogg offers an innovative portfolio of programs: four Full-Time MBA programs including the accelerated One-Year MBA and Two-Year MBA options, and joint degree programs with the engineering and law schools; a Part-Time MBA Program; the premier Executive MBA global network; and extensive non-degree Executive Education programs. To learn more about Kellogg School of Management at Northwestern University, please visit http://www.kellogg.northwestern.edu.

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