CINXE.COM
A new look at how corporations impact the economy and households | McKinsey
<!DOCTYPE html><html dir="ltr" lang="en"><head><meta charSet="utf-8"/><meta name="viewport" content="width=device-width, initial-scale=1.0"/><meta http-equiv="X-UA-Compatible" content="IE=edge"/><script>var McKinsey = {"ArticleTemplate":"Legacy","DaysSinceCMSPublication":"283","DisplayDate":"5/31/2021","OriginalPublicationDate":"5/31/2021","SourcePublication":"MGI Research","SitecoreId":"{9D89D71F-65A8-454C-B6B3-3AA50DE2DA38}","Title":"A new look at how corporations impact the economy and households","ArticleType":"Discussion Paper","ContentType":"Article","ServerNumber":"","IsPageRestricted":"true","UserID":"","RegistrationDate":"","LoginStatus":"logged_out","JobTitle":"","CompanyName":"","blogTags":null,"enableRegWall":false}; var pageMetaInformation = {"CurrentLanguage":"en","AlternateLanguages":[{"DisplayName":"English","LanguageCode":"en","Url":"/capabilities/strategy-and-corporate-finance/our-insights/a-new-look-at-how-corporations-impact-the-economy-and-households"}],"NavigationLink":"capabilities","ActiveItemId":"{6FC6FF30-E964-4D27-94F0-A71008220644}","OfficeCode":"","MiniSiteId":"{50D1B9C6-D63B-4439-85D4-6D582C0B965F}"};</script><link rel="icon" href="/favicon.ico"/><link href="https://www.mckinsey.com/redesign/resources/css/styles-rc.css" rel="stylesheet"/><link rel="manifest" href="/manifest.json"/><link rel="dns-prefetch" href="//cdn.dynamicyield.com"/><link rel="dns-prefetch" href="//st.dynamicyield.com"/><link rel="dns-prefetch" href="//rcom.dynamicyield.com"/><link rel="dns-prefetch" href="//cdn.cookielaw.org"/><link rel="preconnect" href="//assets.adobedtm.com"/><link rel="preconnect" href="//connect.facebook.net"/><link rel="preconnect" href="//static.hotjar.com"/><link rel="preload" as="font" href="/next-static/fonts/bower/Bower-Bold.woff2" type="font/woff2" crossorigin=""/><link rel="preload" as="font" href="/next-static/fonts/mckinsey-sans/regular/McKinseySans-Regular.woff2" type="font/woff2" crossorigin=""/><link rel="preload" as="font" href="/next-static/fonts/mckinsey-sans/medium/McKinseySans-Medium.woff2" type="font/woff2" crossorigin=""/><link rel="preload" as="font" href="/next-static/fonts/mckinsey-sans/light/McKinseySans-Light.woff2" type="font/woff2" crossorigin=""/><link rel="preload" as="font" href="/next-static/fonts/mckinsey-sans/italic/McKinseySans-Italic.woff2" type="font/woff2" crossorigin=""/><link rel="preload" as="font" href="/next-static/fonts/mckinsey-sans/light-italic/McKinseySans-LightItalic.woff2" type="font/woff2" crossorigin=""/><link rel="preload" as="font" href="/next-static/fonts/mckinsey-sans/medium-italic/McKinseySans-MediumItalic.woff2" type="font/woff2" crossorigin=""/><link rel="preload" as="font" href="/next-static/fonts/noto-sans-jp/NotoSansJP-Light.ttf" type="font/ttf" crossorigin=""/><link rel="preload" as="font" href="/next-static/fonts/noto-sans-jp/NotoSansJP-Regular.ttf" type="font/ttf" crossorigin=""/><link rel="preload" as="font" href="/next-static/fonts/noto-sans-jp/NotoSansJP-Medium.ttf" type="font/ttf" crossorigin=""/><link rel="preload" as="font" href="/next-static/fonts/noto-sans-jp/NotoSansJP-Bold.ttf" type="font/ttf" crossorigin=""/><link rel="preload" as="font" href="/next-static/fonts/noto-sans-jp/NotoSansJP-Black.ttf" type="font/ttf" crossorigin=""/><link rel="preload" as="font" href="/next-static/fonts/noto-serif-jp/NotoSerifJP-Bold.ttf" type="font/ttf" crossorigin=""/><meta name="apple-itunes-app" content="app-id=674902075"/><link rel="apple-touch-icon" sizes="57x57" href="/next-static/images/mck-touch-icon-57x57.png"/><link rel="apple-touch-icon" sizes="72x72" href="/next-static/images/mck-touch-icon-72x72.png"/><link rel="apple-touch-icon" sizes="114x114" href="/next-static/images/mck-touch-icon-114x114.png"/><link rel="apple-touch-icon" sizes="144x144" href="/next-static/images/mck-touch-icon-144x144.png"/><link rel="apple-touch-icon" sizes="152x152" href="/next-static/images/mck-touch-icon-152x152.png"/><link rel="apple-touch-icon" sizes="167x167" href="/next-static/images/mck-touch-icon-167x167.png"/><link rel="apple-touch-icon" sizes="180x180" href="/next-static/images/mck-touch-icon-180x180.png"/><meta content="no-referrer-when-downgrade" name="referrer"/><meta content="McKinsey & Company" property="og:site_name" name="site_name"/><meta content="A new look at how corporations impact the economy and households" property="og:title" name="title"/><meta content="We map the different ways in which the economic value that large companies create flows to households in OECD economies and examine what has changed in the past quarter-century." property="og:description" name="description"/><meta content="https://www.mckinsey.com/capabilities/strategy-and-corporate-finance/our-insights/a-new-look-at-how-corporations-impact-the-economy-and-households" name="url" property="og:url"/><meta content="index,follow,all" name="robots"/><meta content="https://www.mckinsey.com/~/media/mckinsey/business%20functions/strategy%20and%20corporate%20finance/our%20insights/a%20new%20look%20at%20how%20corporations%20impact%20the%20economy%20and%20households/mgi-21cc-hero-homepage_1536x1536.png" property="og:image" name="image"/><meta content="{9D89D71F-65A8-454C-B6B3-3AA50DE2DA38}" name="sid"/><link href="https://www.mckinsey.com/capabilities/strategy-and-corporate-finance/our-insights/a-new-look-at-how-corporations-impact-the-economy-and-households" rel="canonical"/><meta content="Strategy" name="practice-name"/><meta content="N12" name="practice-code"/><meta content="summary_large_image" name="twitter:card"/><meta content="@mckinsey" name="twitter:site"/><title>A new look at how corporations impact the economy and households | McKinsey</title><meta content="Insights & Publications" name="sections"/><meta content="A new look at how corporations impact the economy and households" name="twitter:title"/><meta content="We map the different ways in which the economic value that large companies create flows to households in OECD economies and examine what has changed in the past quarter-century." name="twitter:description"/><meta content="Article" property="contenttype" name="contenttype"/><meta content="https://www.mckinsey.com/~/media/mckinsey/business%20functions/strategy%20and%20corporate%20finance/our%20insights/a%20new%20look%20at%20how%20corporations%20impact%20the%20economy%20and%20households/mgi-21cc-hero-homepage_1536x1536.png?mw=677&car=42:25" name="twitter:image"/><meta content="A new look at how corporations impact the economy and households" name="twitter:image:alt"/><meta content="true" name="mobileready"/><meta content="public" name="accesslevel"/><meta content="false" name="excludefromclientlink"/><meta content="MGI Research" name="articlesource"/><meta content="discussion paper" name="articletype"/><meta content="James Manyika | Michael Birshan | Sven Smit | Lola Woetzel | Kevin Russell | Lindsay Purcell" name="authors-name"/><meta content="2021-05-31T00:00:00Z" name="itemdate"/><meta content="Strategy | Discussion Paper | McKinsey Global Institute | May 31, 2021" name="searchresults-tags"/><script type="application/ld+json">{"@context":"https://schema.org","@type":"Article","url":"https://www.mckinsey.com","publisher":{"@type":"Organization","name":"McKinsey & Company","logo":{"@type":"ImageObject","url":"https://www.mckinsey.com/~/media/Thumbnails/Mck_Logo"}},"mainEntityOfPage":{"@type":"WebPage","@id":"https://www.mckinsey.com/capabilities/strategy-and-corporate-finance/our-insights/a-new-look-at-how-corporations-impact-the-economy-and-households"},"datePublished":"2021-05-31T00:00:00Z","dateCreated":"2021-09-15T13:59:04Z","dateModified":"2021-05-31T00:00:00Z","heading":"A new look at how corporations impact the economy and households","image":"https://www.mckinsey.com/~/media/mckinsey/business%20functions/strategy%20and%20corporate%20finance/our%20insights/a%20new%20look%20at%20how%20corporations%20impact%20the%20economy%20and%20households/mgi-21cc-hero-homepage_1536x1536.png","description":"We map the different ways in which the economic value that large companies create flows to households in OECD economies and examine what has changed in the past quarter-century.","author":[{"@type":"Person","name":"James Manyika","url":"https://www.mckinsey.com/our-people/james-manyika"},{"@type":"Person","name":"Michael Birshan","url":"https://www.mckinsey.com/our-people/michael-birshan"},{"@type":"Person","name":"Sven Smit","url":"https://www.mckinsey.com/our-people/sven-smit"},{"@type":"Person","name":"Lola Woetzel"},{"@type":"Person","name":"Kevin Russell"},{"@type":"Person","name":"Lindsay Purcell"}]}</script><meta name="next-head-count" content="64"/><meta name="next-font-preconnect"/><script src="" id="onetrust-wrapperchecker" data-nscript="beforeInteractive">function OptanonWrapperChecker() {}</script><link rel="preload" href="/_next/static/css/e0c1ca92b5263a45.css" as="style"/><link rel="stylesheet" href="/_next/static/css/e0c1ca92b5263a45.css" data-n-g=""/><link rel="preload" href="/_next/static/css/985443d8095c0b48.css" as="style"/><link rel="stylesheet" href="/_next/static/css/985443d8095c0b48.css" data-n-p=""/><link rel="preload" href="/_next/static/css/b9ab7b649e8aa36e.css" as="style"/><link rel="stylesheet" href="/_next/static/css/b9ab7b649e8aa36e.css"/><link rel="preload" href="/_next/static/css/72fc56b1fbe032aa.css" as="style"/><link rel="stylesheet" href="/_next/static/css/72fc56b1fbe032aa.css"/><link rel="preload" href="/_next/static/css/5e45d445fc213154.css" as="style"/><link rel="stylesheet" href="/_next/static/css/5e45d445fc213154.css"/><noscript data-n-css=""></noscript><script defer="" nomodule="" src="/_next/static/chunks/polyfills-5cd94c89d3acac5f.js"></script><script src="https://cdn.cookielaw.org/scripttemplates/otSDKStub.js" data-document-language="true" type="text/javascript" data-domain-script="915b5091-0d7e-44d2-a8c4-cf08267e52fe" defer="" data-nscript="beforeInteractive"></script><script defer="" src="/_next/static/chunks/281.cc3ac8578a543e8e.js"></script><script defer="" src="/_next/static/chunks/6731.9bccca8a7edb0704.js"></script><script defer="" src="/_next/static/chunks/8391.a64dec5b7b976b97.js"></script><script src="/_next/static/chunks/webpack.7b31c4548c626f3b.js" defer=""></script><script src="/_next/static/chunks/framework.62bbe2ca94854a85.js" defer=""></script><script src="/_next/static/chunks/main.51e10588adc949ca.js" defer=""></script><script src="/_next/static/chunks/pages/_app.5f99628c3d07543d.js" defer=""></script><script src="/_next/static/chunks/3b1baa31.cd6cdac6158774d8.js" defer=""></script><script src="/_next/static/chunks/7d0bf13e.8f3383787afb45af.js" defer=""></script><script src="/_next/static/chunks/1354.c34ddc4bd7c986c8.js" defer=""></script><script src="/_next/static/chunks/408.2780008a4c2ee197.js" defer=""></script><script src="/_next/static/chunks/pages/%5B%5B...path%5D%5D.eb738e7c87df0dc8.js" defer=""></script><script src="/_next/static/9vYT_fWQKRjfPT7lAZJdB/_buildManifest.js" defer=""></script><script src="/_next/static/9vYT_fWQKRjfPT7lAZJdB/_ssgManifest.js" defer=""></script><script src="/_next/static/9vYT_fWQKRjfPT7lAZJdB/_middlewareManifest.js" defer=""></script> <script>(window.BOOMR_mq=window.BOOMR_mq||[]).push(["addVar",{"rua.upush":"false","rua.cpush":"false","rua.upre":"false","rua.cpre":"false","rua.uprl":"false","rua.cprl":"false","rua.cprf":"false","rua.trans":"","rua.cook":"false","rua.ims":"false","rua.ufprl":"false","rua.cfprl":"false","rua.isuxp":"false","rua.texp":"norulematch","rua.ceh":"false","rua.ueh":"false","rua.ieh.st":"0"}]);</script> <script>!function(a){var e="https://s.go-mpulse.net/boomerang/",t="addEventListener";if("False"=="True")a.BOOMR_config=a.BOOMR_config||{},a.BOOMR_config.PageParams=a.BOOMR_config.PageParams||{},a.BOOMR_config.PageParams.pci=!0,e="https://s2.go-mpulse.net/boomerang/";if(window.BOOMR_API_key="TURRK-8ADJT-WDUC5-TC32E-KV9ND",function(){function n(e){a.BOOMR_onload=e&&e.timeStamp||(new Date).getTime()}if(!a.BOOMR||!a.BOOMR.version&&!a.BOOMR.snippetExecuted){a.BOOMR=a.BOOMR||{},a.BOOMR.snippetExecuted=!0;var i,_,o,r=document.createElement("iframe");if(a[t])a[t]("load",n,!1);else if(a.attachEvent)a.attachEvent("onload",n);r.src="javascript:void(0)",r.title="",r.role="presentation",(r.frameElement||r).style.cssText="width:0;height:0;border:0;display:none;",o=document.getElementsByTagName("script")[0],o.parentNode.insertBefore(r,o);try{_=r.contentWindow.document}catch(O){i=document.domain,r.src="javascript:var d=document.open();d.domain='"+i+"';void(0);",_=r.contentWindow.document}_.open()._l=function(){var a=this.createElement("script");if(i)this.domain=i;a.id="boomr-if-as",a.src=e+"TURRK-8ADJT-WDUC5-TC32E-KV9ND",BOOMR_lstart=(new Date).getTime(),this.body.appendChild(a)},_.write("<bo"+'dy onload="document._l();">'),_.close()}}(),"".length>0)if(a&&"performance"in a&&a.performance&&"function"==typeof a.performance.setResourceTimingBufferSize)a.performance.setResourceTimingBufferSize();!function(){if(BOOMR=a.BOOMR||{},BOOMR.plugins=BOOMR.plugins||{},!BOOMR.plugins.AK){var e=""=="true"?1:0,t="",n="bdpnbeqxgy4diz2chjkq-f-f397abbe6-clientnsv4-s.akamaihd.net",i="false"=="true"?2:1,_={"ak.v":"39","ak.cp":"19387","ak.ai":parseInt("285213",10),"ak.ol":"0","ak.cr":5,"ak.ipv":4,"ak.proto":"http/1.1","ak.rid":"226c5e4f","ak.r":37669,"ak.a2":e,"ak.m":"a","ak.n":"essl","ak.bpcip":"8.222.208.0","ak.cport":45280,"ak.gh":"23.53.33.206","ak.quicv":"","ak.tlsv":"tls1.2","ak.0rtt":"","ak.0rtt.ed":"","ak.csrc":"-","ak.acc":"reno","ak.t":"1732393557","ak.ak":"hOBiQwZUYzCg5VSAfCLimQ==7hx03kRYZlPRnfrwd0aIGliSkRvrU6VCXKYOURnwZavPwbLKOHO7ixvWcMziC7i5QMHzr/HJN61ce/YyVzW1DgOJhzGCoK97EX3xtFQG27892qvBrzmaa3LHMm3UvcB+fuAH0akWtFMriqxMCkMYolop6UCgnJJK0sra2MXtBF9nR/2/bxYT5+cRxzz2TN0kJ3+jXKFjc449cUq3kK8W7Z+2AKDdBJYnHhsOpik9GOQmfl2hkr3Ir3q5fwxr7qDWMEp74x9lQpz8ljdkiLZStgsrCk9yTHOj5E1+LG4PjzHTeLVFOoR9pbLxlgY06rZ7/nt+VjNFcMK/tIE0vyJTb9vsO93FRtQ1ZBmYQ5dMWlNwmVbEqR3b0DZTzzYdKEtymRexlc7EV7NgK75oAtwj7kO4pVFw+qhr/TjS9iWqCSQ=","ak.pv":"581","ak.dpoabenc":"","ak.tf":i};if(""!==t)_["ak.ruds"]=t;var o={i:!1,av:function(e){var t="http.initiator";if(e&&(!e[t]||"spa_hard"===e[t]))_["ak.feo"]=void 0!==a.aFeoApplied?1:0,BOOMR.addVar(_)},rv:function(){var a=["ak.bpcip","ak.cport","ak.cr","ak.csrc","ak.gh","ak.ipv","ak.m","ak.n","ak.ol","ak.proto","ak.quicv","ak.tlsv","ak.0rtt","ak.0rtt.ed","ak.r","ak.acc","ak.t","ak.tf"];BOOMR.removeVar(a)}};BOOMR.plugins.AK={akVars:_,akDNSPreFetchDomain:n,init:function(){if(!o.i){var a=BOOMR.subscribe;a("before_beacon",o.av,null,null),a("onbeacon",o.rv,null,null),o.i=!0}return this},is_complete:function(){return!0}}}}()}(window);</script></head><body><div id="__next" data-reactroot=""><div class="Layout_mck-c-skipbar__K684J"><a data-component="mdc-c-link" href="#skipToMain" class="mdc-c-button___U4iY2_2734c4f mdc-c-button--primary___Ed-lT_2734c4f mdc-c-button--size-medium"><span class="mdc-c-link__label___Pfqtd_2734c4f">Skip to main content</span></a></div><main class="mck-o-container--outer" data-layer-region="body" role="main" id="skipToMain"><style> .global-header-wrapper [class*='primary-nav'], .global-header-wrapper [class*='mck-c-eyebrow'], .global-header-wrapper .section-name-desktop, .global-header-wrapper .section-name { display: none !important; } .global-header.is-transparent.-theme-light:before, .global-header.is-transparent.-theme-dark:after { opacity: 0; }</style><div class="full-bleed-hero-with-non-immersive-dek" data-transparent-header="true"><div data-component="mdc-c-module-wrapper" data-module-theme="dark" data-module-background="deep-blue" data-module-category="AnchoredHero" class="FullHero_mck-c-full-hero__jgmkB"><div class="FullHero_mck-c-full-hero__wrapper-media__wxfB9"><div class="FullHero_mck-c-full-hero__overlay__eIX_8"></div><style></style><div data-component="mdc-c-background-image" class="mdc-c-bg-image___GJdv1_2734c4f background-image-full-hero mck-c-full-hero__image"></div><div class="FullHero_mck-c-full-hero__gradient__427rL"></div></div><div class="FullHero_mck-c-full-hero__first-fold__7fXFg"><div class="FullHero_mck-c-full-hero__first-fold-content__F5jdd"><div class="mdc-o-container__wrapper mdc-u-spaced-mobile mdc-u-grid mdc-u-grid-gutter-xxl FullHero_mck-c-full-hero__title-container__YfybZ"><div class="mdc-u-grid mdc-u-grid-col-md-12"><div class="mdc-u-grid-col-md-start-2 mdc-u-grid-col-md-end-12 mdc-u-grid-col-lg-start-3 mdc-u-grid-col-lg-end-11 mdc-u-spaced-mobile mdc-u-align-center mdc-u-grid"><div><a data-component="mdc-c-link" href="/mgi/overview" class="mdc-u-ts-10 mdc-c-link___lBbY1_2734c4f mdc-c-link--secondary___TSFam_2734c4f"><span class="mdc-c-link__label___Pfqtd_2734c4f">MGI Research</span></a><h1 data-component="mdc-c-heading" class="mdc-c-heading___0fM1W_2734c4f mdc-u-ts-2 FullHero_mck-c-full-hero__heading__RgATx"><div>A new look at how corporations impact the economy and households</div></h1></div><div><div data-component="mdc-c-description" class="mdc-c-description___SrnQP_2734c4f mdc-u-ts-8 FullHero_mck-c-full-hero__date__jb4gN"><div><time datetime="2021-05-31T00:00:00Z">May 31, 2021</time> | Discussion Paper</div></div></div><div><button data-component="mdc-c-button" aria-label="" type="button" id="button_id" class="mdc-c-button___U4iY2_2734c4f mdc-c-button--ghost mdc-c-button--size-medium FullHero_mck-c-full-hero__arrow__jtXdj" data-click-track="true" data-layer-event-prefix="UI Item" data-layer-action="click" data-layer-category="article" data-layer-text="skip article header section" data-layer-region="full hero"><span data-component="mdc-c-icon" class="mdc-c-icon___oi7ef_2734c4f mdc-c-icon--size-xl___3BEee_2734c4f mck-arrow-down-icon"></span></button></div></div></div></div></div></div></div></div><div class="mck-o-container"><div class="mck-o-container--wrapped mck-o-container--mobile-spacing mdc-u-grid mdc-u-grid-gutter-xxl"><section data-layer-region="article-body-header" class="mdc-u-grid mdc-u-grid-col-md-12 mck-u-animation-blur-in-400 byline-share-container"><div class="mdc-u-grid-col-md-start-2 mdc-u-grid-col-md-end-8 mdc-u-grid-col-lg-start-3 mdc-u-grid-col-lg-end-8 mdc-u-ts-9"><span> </span><span class="AuthorsByLine_mck-c-authors-byline__author__XdrlD"><span class="AuthorsByLine_mck-c-authors-byline__no-wrap__Ced0j"><a data-component="mdc-c-link" href="/our-people/james-manyika" class="mdc-c-link-inline___7DRrt_2734c4f mdc-c-link-inline--secondary___YKoOK_2734c4f"><span class="mdc-c-link__label___Pfqtd_2734c4f">James Manyika</span></a> </span></span><span class="AuthorsByLine_mck-c-authors-byline__author__XdrlD"><span class="AuthorsByLine_mck-c-authors-byline__no-wrap__Ced0j"><a data-component="mdc-c-link" href="/our-people/michael-birshan" class="mdc-c-link-inline___7DRrt_2734c4f mdc-c-link-inline--secondary___YKoOK_2734c4f"><span class="mdc-c-link__label___Pfqtd_2734c4f">Michael Birshan</span></a> </span></span><span class="AuthorsByLine_mck-c-authors-byline__author__XdrlD"><span class="AuthorsByLine_mck-c-authors-byline__no-wrap__Ced0j"><a data-component="mdc-c-link" href="/our-people/sven-smit" class="mdc-c-link-inline___7DRrt_2734c4f mdc-c-link-inline--secondary___YKoOK_2734c4f"><span class="mdc-c-link__label___Pfqtd_2734c4f">Sven Smit</span></a> </span></span><span class="AuthorsByLine_mck-c-authors-byline__author__XdrlD"><span class="AuthorsByLine_mck-c-authors-byline__no-wrap__Ced0j">Lola Woetzel<!-- --> </span></span><span class="AuthorsByLine_mck-c-authors-byline__author__XdrlD"><span class="AuthorsByLine_mck-c-authors-byline__no-wrap__Ced0j">Kevin Russell<span> </span></span></span><span class="AuthorsByLine_mck-c-authors-byline__author__XdrlD"><span class="AuthorsByLine_mck-c-authors-byline__no-wrap__Ced0j">Lindsay Purcell</span></span></div><div class="mdc-u-grid-col-md-start-8 mdc-u-grid-col-md-end-12 mdc-u-grid-col-lg-start-8 mdc-u-grid-col-lg-end-11 ArticleContent_mck-c-article-content__share-tools__kWRRw"></div></section><section class="mdc-u-grid mdc-u-grid-col-md-12 mck-u-animation-blur-in-400"><div class="mdc-u-grid-col-md-start-2 mdc-u-grid-col-md-end-12 mdc-u-grid-col-lg-start-3 mdc-u-grid-col-lg-end-11"><div data-component="mdc-c-description" class="mdc-c-description___SrnQP_2734c4f mdc-u-ts-5"><div class="mck-u-links-inline">We map the different ways in which the economic value that large companies create flows to households in OECD economies and examine what has changed in the past quarter-century.</div></div></div></section><main data-layer-region="article-body" class="mdc-u-grid mdc-u-grid-gutter-xxl"><div class="mdc-u-grid mdc-u-grid-col-1 mdc-u-grid-col-md-12"><div class="mdc-u-grid-col-md-start-2 mdc-u-grid-col-md-end-12 mdc-u-grid-col-lg-start-3 mdc-u-grid-col-lg-end-11"><div class="mdc-o-content-body mck-u-dropcap"><div data-component="mdc-c-module-wrapper" data-module-theme="default" data-module-background="transparent" data-module-category="" class="DownloadsSidebar_mck-c-downloads-sidebar__iFmyt mck-o-xs-right-span"><div data-layer-region="downloads-right-rail"><h3 data-component="mdc-c-heading" class="mdc-c-heading___0fM1W_2734c4f mdc-c-heading--title___5qyOB_2734c4f mdc-c-heading--border___K8dj3_2734c4f"></h3><div><div data-component="mdc-c-link-container" class="mdc-c-link-container___xefGu_2734c4f"><a data-component="mdc-c-link" href="#/download/%2F~%2Fmedia%2Fmckinsey%2Fbusiness%20functions%2Fstrategy%20and%20corporate%20finance%2Four%20insights%2Fa%20new%20look%20at%20how%20corporations%20impact%20the%20economy%20and%20households%2Fa-new-look-at-how-corporations-impact-the-economy-and%20households-vf.pdf%3FshouldIndex%3Dfalse" class="DownloadsSidebar_mck-c-downloads-sidebar__download-link__fPqFQ mdc-c-link___lBbY1_2734c4f" target="_self" data-layer-event-prefix="Download Link" data-layer-action="click" data-layer-report-type="" data-layer-file-name="a-new-look-at-how-corporations-impact-the-economy-and-households-vf" data-layer-report-name="a-new-look-at-how-corporations-impact-the-economy-and-households-vf>"><span data-component="mdc-c-icon" class="mdc-c-icon___oi7ef_2734c4f mdc-c-icon--size-md___yi5fA_2734c4f mck-download-icon"></span><span class="mdc-c-link__label___Pfqtd_2734c4f"> (84 pages)</span></a></div></div></div></div> <p><strong>The role of companies in the economy</strong> and their responsibilities to stakeholders and society at large has become a major topic of debate. Yet there is little clarity or consensus about how the business activity of companies impacts the economy and society. In this discussion paper, the first in a series on companies in the 21st century, we assess how the economic value that companies create flows to households in the 37 OECD countries, and how these flows have shifted over the past 25 years. We identify patterns in what different types of companies do and how they do it, and how the mix of these companies and their patterns of economic impact have changed.</p> <p>At its core are two analyses: The first maps all the pathways through which a dollar of company revenue reaches households—not just traditional measures of labor and capital income but also less-discussed aspects such as consumer surplus and supplier payments. The second is an algorithmic clustering of companies into eight “archetypes,” based on what they do and their impacts on society. This clustering transcends traditional sectoral views and highlights the similarities and differences between companies in how they affect households. For both analyses, we seek to understand the situation today and how it has changed over the past 25 years.</p> <h3>The business sector overall contributes 72 percent of GDP in the OECD, and corporations with more than $1 billion in revenue account for an increasingly large share of that</h3> <p> A starting point for our research is the steady contribution of business to the economy. Among OECD economies, business activity – the value added from businesses of any size or formality including corporations, partnerships, and sole proprietorships – accounts for 72 percent of GDP. The remainder comes mainly from government, non-profit activity, and household incomes from real estate (Exhibit 1).</p> <div data-component="mdc-c-module-wrapper" data-module-theme="default" data-module-background="transparent" data-module-category="" class="mck-c-inline-module-container mck-o-md-center"><div class="mdc-u-grid mdc-u-grid-gutter-lg mdc-u-grid-col-sm-1 mdc-u-grid--align-start mdc-u-mb-3 GenericItem_mck-c-generic-item__sGwKL"><div data-component="mdc-c-content-block" class="mdc-c-content-block___7p6Lu_2734c4f mdc-u-grid-gutter-xs GenericItem_mck-c-generic-item__content__gq1m0"><div class="mck-c-eyebrow mdc-u-ts-10"><span> 1</span></div></div></div><div class="mck-u-inline-module-border-top mck-u-inline-module-border-bottom"><picture data-component="mdc-c-picture" class="Exhibit_mck-c-exhibit__image__pyIDm"><source media="(min-width: 768px)" srcSet="/~/media/mckinsey/business%20functions/strategy%20and%20corporate%20finance/our%20insights/a%20new%20look%20at%20how%20corporations%20impact%20the%20economy%20and%20households/svgz-mgi-corporations_ex1.svgz?cq=50&cpy=Center"/><img alt="Business contribution to economy" src="/~/media/mckinsey/business%20functions/strategy%20and%20corporate%20finance/our%20insights/a%20new%20look%20at%20how%20corporations%20impact%20the%20economy%20and%20households/svgz-mgi-corporations_ex1.svgz?cq=50&cpy=Center" loading="lazy"/></picture></div><div class="mck-u-sr-only"></div></div> <p><a href="/mgi/our-research/pixels-of-progress-chapter-1">Measured in GDP per capita</a>, the contribution of the entire business sector has tripled since 1960 on average in major OECD economies, in proportion with their overall economic growth. Companies underpin 85 percent of technology investment and 85 percent of labor productivity growth since 1995, a larger proportion than their GDP contribution. </p> <p>The size of the business sector varies only slightly within each of the major economies, and their share has remained steady for the past 60 years. This steadiness masks significant underlying shifts, notably including the growth of corporations over $1 billion in revenue, which increased their global revenues by 60 percent relative to their home country’s GDP since 1995. </p> <h3>Economic value flows from companies to households via eight pathways, of which labor income and consumer surplus are the largest direct pathways</h3> <p>The overall business sector in the OECD, described above, includes companies of all types and represents $44 trillion in gross value added. For much of this paper, we narrow our focus to a subset of large corporations in the OECD with revenue exceeding $1 billion—about 5,000 companies in all, which together had $40 trillion in revenue and represented $17 trillion in gross value added in 2018. </p> <p>Using this data set, we identify eight pathways through which economic value from corporations flows to households and the economy (Exhibit 2). </p> <div data-component="mdc-c-module-wrapper" data-module-theme="default" data-module-background="transparent" data-module-category="" class="mck-c-inline-module-container mck-o-md-center"><div class="mdc-u-grid mdc-u-grid-gutter-lg mdc-u-grid-col-sm-1 mdc-u-grid--align-start mdc-u-mb-3 GenericItem_mck-c-generic-item__sGwKL"><div data-component="mdc-c-content-block" class="mdc-c-content-block___7p6Lu_2734c4f mdc-u-grid-gutter-xs GenericItem_mck-c-generic-item__content__gq1m0"><div class="mck-c-eyebrow mdc-u-ts-10"><span> 2</span></div></div></div><div class="mck-u-inline-module-border-top mck-u-inline-module-border-bottom"><picture data-component="mdc-c-picture" class="Exhibit_mck-c-exhibit__image__pyIDm"><source media="(min-width: 768px)" srcSet="/~/media/mckinsey/business%20functions/strategy%20and%20corporate%20finance/our%20insights/a%20new%20look%20at%20how%20corporations%20impact%20the%20economy%20and%20households/svgz-mgi-corporations_ex2.svgz?cq=50&cpy=Center"/><img alt="Corporate economic gains" src="/~/media/mckinsey/business%20functions/strategy%20and%20corporate%20finance/our%20insights/a%20new%20look%20at%20how%20corporations%20impact%20the%20economy%20and%20households/svgz-mgi-corporations_ex2.svgz?cq=50&cpy=Center" loading="lazy"/></picture></div><div class="mck-u-sr-only"></div></div> <p>Five are directly measurable monetary flows: labor income, capital income, taxes, investment in capital assets, and payments to suppliers. The money flowing through the supplier payment and investment pathways passes through other companies to reach households and the economy.</p> <p>The sixth is consumer surplus (the difference between what consumers are prepared to pay and what they do pay), which we estimate.</p> <!-- --> <p>The final two pathways are negative and positive spillovers, which we do not assess comprehensively beyond the examples of environmental impact and contributions to total factor productivity growth (unaccounted for in additional labor or capital input).</p> <p>We find labor income is the largest direct pathway, with wages and benefits accounting for $0.25 of each dollar of revenue. Just over half, $0.58 on every dollar, goes to suppliers (themselves companies large and small), reflecting the role they play in enabling corporations to create and deliver their products and services.</p> <p>The other significant pathway is consumer surplus, which we estimate to be about $0.40 per dollar of revenue.</p> <p>These pathways have changed over the past 25 years. Among the key changes: capital income has grown while labor income and supplier payments declined.</p> <p>Comparing two periods, 1994-96 and 2016-18, the biggest change has been a two-thirds increase in the capital income pathway, from $0.04 to $0.07 per revenue dollar. Applied to the $40 trillion in revenue represented by our large company data set, this $0.03 difference amounts to an increase in capital income of $1.2 trillion.</p> <p>The labor income pathway shrank by $0.02, or 6 percent. Labor per dollar of revenue fell by 15 percent and wages grew only 11 percent. Productivity gains amounted to 25 percent in real terms, significantly more than wage growth, which gains from labor productivity went predominantly to capital income.</p> <p>Investment in intangible assets grew more than threefold as a proportion of revenue in this period, while investment in tangible assets dropped by half. </p> <p>Supplier payments also fell by $0.02, or 4 percent. The decline was especially steep for suppliers that were small and midsize enterprises, which saw a 10 percent drop in share of payments to suppliers in the United States, with similar patterns in other countries. The share going to domestic suppliers in each country also fell; about half of this decrease in supplier payments moved to foreign OECD suppliers and the other half to non-OECD suppliers. </p> <p>The tax pathway held steady overall as decreases in corporate taxes, especially in the United Kingdom and the United States, were offset by slight increases in production taxes, especially in Japan, and corporate income tax in France.</p> <h3>Clustering companies by how they do what they do reveals eight distinct company archetypes that differ in their patterns of impact on the economy and households </h3> <p>We clustered the large corporations into eight archetypes: Discoverers, Technologists, Experts, Deliverers, Makers, Builders, Fuelers, and Financiers. We based the clustering on the companies’ factor inputs (for example, labor and both physical and intangible capital), how they create economic value (for example, cost structure and R&D spending), and their relative impacts on the economy via the eight pathways.</p> <p>Some of the eight, including Fuelers and Financiers follow traditional sector lines, but others look quite different.</p> <ul> <li><em>Discoverers </em>have high R&D, intellectual property, and capital income. They include pharmaceutical and biotechnology companies as well as some household products companies that rely heavily on R&D and intellectual property to differentiate their products.</li> <li><em>Deliverers</em> have high employment levels and large supplier costs typical of retail and distribution. They include some manufacturers, such as footwear and luxury apparel companies, that also have high marketing costs; while Deliverers account for 16 percent of revenue, they employ 29 percent of workers in our data set of large corporations.</li> <li><em>Technologists</em>—who range across hardware, software, digital retailers, and media—have high R&D and have enabled productivity growth in the economy; they have also contributed to consumer surplus through steep price reductions (as well as quality improvements) over time.</li> <li><em>Experts</em> include for-profit hospitals, health services, business service companies, and private universities, among others. Experts particularly rely on high-skill workers and devote the highest share of their value added to employee compensation.</li> <li><em>Fuelers</em> are oil, gas, and coal companies that extract, distribute, and sell fuel. They make large physical investments, have the highest labor productivity and wages, pay the highest production taxes, and have the highest emissions.</li> <li><em>Financiers</em> are banks, insurance, and real estate companies. They help price risk and provide capital and financial services for economic activity of households, businesses, commercial ecosystems, and government. They have the highest total capital income of all archetype and the highest taxes. They also pay high wages.</li> <li><em>Builders</em> include utility, telecommunications, and transportation companies that construct, use, and operate physical infrastructure, as well as manufacturers of materials and chemicals. They have double the physical assets of the average and, along with Fuelers, the highest scope 1 and 2 emissions.</li> </ul> <p>Other manufacturers are clustered in Makers, which is the largest archetype, accounting for about 25 percent of the revenue of all companies and 27 percent of employment. Makers are close to or above average in their impacts across all the pathways, making their contribution through each pathway high and larger than most in absolute terms. Their employment intensity, just above average across the archetypes, combines with high wages to make their labor income among the largest of all archetypes, 20 percent above average. They have also contributed to consumer surplus through price reductions for some goods such as automotive and textiles.</p> <p>While the characteristics of archetypes are consistent across countries, their prevalence differs. For example, Makers account for more than one-third of the total revenue from companies in Germany and Japan but just one-fifth in the United States, which has the largest proportion of Technologists (Exhibit 3).</p> <div data-component="mdc-c-module-wrapper" data-module-theme="default" data-module-background="transparent" data-module-category="" class="mck-c-inline-module-container mck-o-md-center"><div class="mdc-u-grid mdc-u-grid-gutter-lg mdc-u-grid-col-sm-1 mdc-u-grid--align-start mdc-u-mb-3 GenericItem_mck-c-generic-item__sGwKL"><div data-component="mdc-c-content-block" class="mdc-c-content-block___7p6Lu_2734c4f mdc-u-grid-gutter-xs GenericItem_mck-c-generic-item__content__gq1m0"><div class="mck-c-eyebrow mdc-u-ts-10"><span> 3</span></div></div></div><div class="mck-u-inline-module-border-top mck-u-inline-module-border-bottom"><picture data-component="mdc-c-picture" class="Exhibit_mck-c-exhibit__image__pyIDm"><source media="(min-width: 768px)" srcSet="/~/media/mckinsey/business%20functions/strategy%20and%20corporate%20finance/our%20insights/a%20new%20look%20at%20how%20corporations%20impact%20the%20economy%20and%20households/svgz-mgi-corporations_ex3-rev.svgz?cq=50&cpy=Center"/><img alt="The share of total revenue of each archetype differs as viewed by country." src="/~/media/mckinsey/business%20functions/strategy%20and%20corporate%20finance/our%20insights/a%20new%20look%20at%20how%20corporations%20impact%20the%20economy%20and%20households/svgz-mgi-corporations_ex3-rev.svgz?cq=50&cpy=Center" loading="lazy"/></picture></div><div class="mck-u-sr-only"></div></div> <h3>Changes in the mix of archetypes explain most of the decline in labor income, while evolution of archetypes explains most of the increase in capital income, consumer surplus, and supplier payments </h3> <p>Makers and Builders were long the predominant archetypes and mainstays of industrial economies, but their share of total revenue among large corporations has dropped sharply in the past quarter-century, falling by 12 and two percentage points, respectively. The share of revenue for Discoverers shrank slightly, while all other archetypes expanded their relative share, with Financiers, Experts, and Deliverers growing the most.</p> <p>Such shifts in the relative size of the archetypes have affected the pathways. For example, the archetypes whose revenue has grown in share have lower labor income contributions on average than those shrinking in share, especially Makers. This change accounts for two-thirds of the overall labor income decline across companies.</p> <p>The evolution of archetypes also results in pathway shifts. The smaller labor income pathway also stems from a sharp drop in employees per dollar of revenue in the past 25 years (a fall of 30 to 40 percent in constant dollar terms) for Experts, Fuelers, and Builders. This decline in employees per revenue dollar outweighed positive real wage growth of all three archetypes. The three also had the lowest capital income growth even as they widened their supplier payments pathway.</p> <p>Conversely, Technologists, Financiers, and Discoverers had the highest growth in the capital income and labor income pathways as they widened their share of gross value added and decreased their supplier payments. While all archetypes delivered greater capital income, these three archetypes alone accounted for two-thirds of the total growth of the capital income pathway on a per-revenue-dollar basis.</p> <p>One of the biggest positive impacts for all households has been the growth in consumer surplus, primarily from Technologists and Makers, whose prices dropped by 50 percent and 20 percent, respectively, and whose volumes grew the most in absolute terms.</p> <p>In general, core attributes of each archetype have become more pronounced over the past 25 years. For example, Technologists and Discoverers increased their stock of intangibles, R&D expenditures, and capital income more than other archetypes. Deliverers increased their employment share by nine percentage points, the largest by far. Fuelers added physical capital assets, while most others reduced them. Experts increased wages almost 40 percent, the biggest rise.</p> <h3>High-income households have benefited the most from the patterns and shifts in the economic impact of corporations over time, but with some country variations </h3> <p>The top ten percent of households in the United States increased their share of capital income to 66 percent in 2018, from 59 percent in 1995, and received 30 percent of their income through the capital income pathway. This compares with 26 percent in Germany and 23 percent in Japan, where households are less reliant on corporate returns and more reliant on public pensions. </p> <p>Labor income has also concentrated slightly to higher-income households since 1995. Clicking the interactive exhibit below allows for a comparison of how labor income, capital income, and taxes flow to different household segments in Germany, Japan, and the United States.</p> <!-- --> <p>For consumers, price increases in healthcare and education narrowed the consumer surplus pathway provided by Experts and Discoverers, especially to lower-income households. All households have benefited from steady or declining prices of the tradable goods of Makers and the products of Technologists, as gains from innovation are passed on to consumers. However, the top quintile of households has expanded its share of total consumer expenditure partly because these households are able to afford the higher costs of healthcare, education and housing, while lower-income households have faced the challenge of more of their income going to the rising costs of these essentials.</p> <h3>The changing impacts of corporations on households have important implications and will require further research</h3> <p>Netting it out (so far), we find that what has remained true over the past quarter-century (and longer) is that business activity, including that of corporations, continues to be the dominant contributor to the economy and its growth. However, a lot has changed in the patterns of impact, as some pathways have shrunk while others have grown, and some corporate archetypes have become more prevalent and others less so.</p> <p>These changes have important implications for the economy and its stakeholders, especially households. Furthermore, this research (and its gaps) raises questions for further research as well as considerations for leaders, especially in business and policy. Companies, for example, could use this research to better understand the patterns and implications of their own impact on the economy and stakeholders. Policy leaders could consider the impact in their economies and how to accentuate the positives, capture opportunities, and address challenges.</p> <p>We plan to pursue some of these questions in our future research. In the meantime, we welcome discussion of the findings in this paper.</p></div><div class="container-placeholder"></div></div></div><div class="mdc-u-grid mdc-u-grid-gutter-xl"><section role="contentinfo" data-layer-region="article-about-authors" class="mdc-u-grid mdc-u-grid-col-md-12 AboutAuthor_mck-c-about-author__nRJzu"><div class="mdc-u-grid-col-md-start-2 mdc-u-grid-col-md-end-12 mdc-u-grid-col-lg-start-3 mdc-u-grid-col-lg-end-11"><h5 data-component="mdc-c-heading" class="mdc-c-heading___0fM1W_2734c4f mdc-c-heading--title___5qyOB_2734c4f mdc-c-heading--border___K8dj3_2734c4f mdc-u-align-center"></h5><div data-component="mdc-c-description" class="mdc-c-description___SrnQP_2734c4f mdc-u-ts-8 mck-u-links-inline mck-u-links-inline--secondary mdc-u-mt-5"><div><p><strong><a href="/our-people/james-manyika">James Manyika</a></strong> is co-chairman of the McKinsey Global institute, where <strong><a href="/our-people/sven-smit">Sven Smit</a></strong> is co-chairman and <strong><a href="/sitecore/service/notfound.aspx?item=web%3a%7b8d840caa-6a65-4626-8ce5-1f9fefe604dd%7d%40en">Lola Woetzel</a></strong> is a director. <strong><a href="/our-people/michael-birshan">Michael Birshan</a></strong> is a senior partner in McKinsey’s London office. <strong>Kevin Russell </strong>is a consultant in the Charlotte office, and <strong>Lindsay Purcell </strong>is a consultant in the Atlanta office.</p> <hr /> <p>This article was edited by Peter Gumbel, editorial director of the McKinsey Global Institute.</p></div></div></div></section><section class="mdc-u-grid mdc-u-grid-col-md-12 mck-u-screen-only"><div class="mdc-u-grid-col-md-start-2 mdc-u-grid-col-md-end-12 mdc-u-grid-col-lg-start-5 mdc-u-grid-col-lg-end-9"><h5 data-component="mdc-c-heading" class="mdc-c-heading___0fM1W_2734c4f mdc-c-heading--title___5qyOB_2734c4f mdc-c-heading--border___K8dj3_2734c4f mdc-u-align-center">Explore a career with us</h5><div data-component="mdc-c-link-container" class="mdc-c-link-container___xefGu_2734c4f mdc-c-link-container--align-center___ar3mu_2734c4f"><a data-component="mdc-c-link" href="/careers/search-jobs" class="mdc-c-button___U4iY2_2734c4f mdc-c-button--secondary___Boipq_2734c4f mdc-c-button--size-large___jwpUy_2734c4f" aria-label="Search Openings" data-layer-event-prefix="CTA Link" data-layer-action="click" data-layer-category="careers" data-layer-subcategory="search" data-layer-text="Search Openings"><span class="mdc-c-link__label___Pfqtd_2734c4f">Search Openings</span></a></div></div></section></div></main></div><div data-component="mdc-c-module-wrapper" data-module-theme="light" data-module-background="lightest-grey" data-module-category="StandalonePromo" class="RelatedArticle_mck-c-article-related__GGA76 mck-u-screen-only" data-layer-region="related-articles"><div class="mdc-o-container__wrapper is-wrapped mdc-u-spaced-mobile"><h5 data-component="mdc-c-heading" class="mdc-c-heading___0fM1W_2734c4f mdc-c-heading--title___5qyOB_2734c4f mdc-u-align-center">Related Articles</h5><div class="mdc-u-grid mdc-u-grid-col-md-3 RelatedArticle_items-container__s2uD0"><div class="mdc-u-grid mdc-u-grid-gutter-lg Card_card__diA2r Card_hover-effect__RGb9b"><div class="Card_wrapper-image__8b4P6"><a data-component="mdc-c-link" href="/industries/public-sector/our-insights/covid-19-has-revived-the-social-contract-in-advanced-economies-for-now-what-will-stick-once-the-crisis-abates" class="mdc-c-link___lBbY1_2734c4f"><picture data-component="mdc-c-picture" class="Card_wrapper-image__8b4P6"><style>.picture-uniqueKey-covid-0 { aspect-ratio: 16/9 }</style><img alt="COVID-19 has revived the social contract in advanced economies—for now. What will stick once the crisis abates?" class="picture-uniqueKey-covid-0" src="/~/media/mckinsey/industries/public%20and%20social%20sector/our%20insights/covid%2019%20has%20revived%20the%20social%20contract%20in%20advanced%20economies%20for%20now%20what%20will%20stick%20once%20the%20crisis%20abates/png-covid-socialcontract-hero-1536x1536.png?cq=50&mw=767&car=16:9&cpy=Center" loading="lazy"/></picture></a></div><div class="Card_wrapper-text__U6Y3k"><div data-component="mdc-c-content-block" class="mdc-c-content-block___7p6Lu_2734c4f Card_content-block__pF6Z1"><span>Article - <i>MGI Research</i></span><h6 data-component="mdc-c-heading" class="mdc-c-heading___0fM1W_2734c4f mdc-u-ts-6"><a data-component="mdc-c-link" href="/industries/public-sector/our-insights/covid-19-has-revived-the-social-contract-in-advanced-economies-for-now-what-will-stick-once-the-crisis-abates" class="mdc-c-link-heading___Zggl8_2734c4f mdc-c-link___lBbY1_2734c4f"><div>COVID-19 has revived the social contract in advanced economies—for now. What will stick once the crisis abates?</div></a></h6></div></div></div><div class="mdc-u-grid mdc-u-grid-gutter-lg Card_card__diA2r Card_hover-effect__RGb9b"><div class="Card_wrapper-image__8b4P6"><a data-component="mdc-c-link" href="/industries/consumer-packaged-goods/our-insights/the-consumer-demand-recovery-and-lasting-effects-of-covid-19" class="mdc-c-link___lBbY1_2734c4f"><picture data-component="mdc-c-picture" class="Card_wrapper-image__8b4P6"><style>.picture-uniqueKey-thec-0 { aspect-ratio: 16/9 }</style><img alt="The consumer demand recovery and lasting effects of COVID-19" class="picture-uniqueKey-thec-0" src="/~/media/mckinsey/industries/consumer%20packaged%20goods/our%20insights/the%20consumer%20demand%20recovery%20and%20lasting%20effects%20of%20covid%2019/hero-homepage_1536x1536.png?cq=50&mw=767&car=16:9&cpy=Center" loading="lazy"/></picture></a></div><div class="Card_wrapper-text__U6Y3k"><div data-component="mdc-c-content-block" class="mdc-c-content-block___7p6Lu_2734c4f Card_content-block__pF6Z1"><span>Report - <i>MGI Research</i></span><h6 data-component="mdc-c-heading" class="mdc-c-heading___0fM1W_2734c4f mdc-u-ts-6"><a data-component="mdc-c-link" href="/industries/consumer-packaged-goods/our-insights/the-consumer-demand-recovery-and-lasting-effects-of-covid-19" class="mdc-c-link-heading___Zggl8_2734c4f mdc-c-link___lBbY1_2734c4f"><div>The consumer demand recovery and lasting effects of COVID-19</div></a></h6></div></div></div><div class="mdc-u-grid mdc-u-grid-gutter-lg Card_card__diA2r Card_hover-effect__RGb9b"><div class="Card_wrapper-image__8b4P6"><a data-component="mdc-c-link" href="/featured-insights/future-of-work/whats-next-for-consumers-workers-and-companies-in-the-post-covid-19-recovery" class="mdc-c-link___lBbY1_2734c4f"><picture data-component="mdc-c-picture" class="Card_wrapper-image__8b4P6"><style>.picture-uniqueKey-what&-0 { aspect-ratio: 16/9 }</style><img alt="What's next for consumers, workers, and companies in the post-COVID-19 recovery" class="picture-uniqueKey-what&-0" src="/~/media/mckinsey/featured%20insights/future%20of%20organizations/whats%20next%20for%20consumers%20workers%20and%20companies%20in%20the%20post%20covid%2019%20recovery/standard-mgi-covid-trilogy.png?cq=50&mw=767&car=16:9&cpy=Center" loading="lazy"/></picture></a></div><div class="Card_wrapper-text__U6Y3k"><div data-component="mdc-c-content-block" class="mdc-c-content-block___7p6Lu_2734c4f Card_content-block__pF6Z1"><span>Article - <i>MGI Research</i></span><h6 data-component="mdc-c-heading" class="mdc-c-heading___0fM1W_2734c4f mdc-u-ts-6"><a data-component="mdc-c-link" href="/featured-insights/future-of-work/whats-next-for-consumers-workers-and-companies-in-the-post-covid-19-recovery" class="mdc-c-link-heading___Zggl8_2734c4f mdc-c-link___lBbY1_2734c4f"><div>What’s next for consumers, workers, and companies in the post-COVID-19 recovery</div></a></h6></div></div></div></div></div></div></div></main></div><script id="__NEXT_DATA__" type="application/json">{"props":{"pageProps":{"locale":"en","dictionary":{},"sitecoreContext":{"route":{"name":"A new look at how corporations impact the economy and households","displayName":"A new look at how corporations impact the economy and households","fields":null,"databaseName":"web","deviceId":"fe5d7fdf-89c0-4d99-9aa3-b5fbd009c9f3","itemId":"9d89d71f-65a8-454c-b6b3-3aa50de2da38","itemLanguage":"en","itemVersion":4,"layoutId":"ae753eb4-a035-40b4-83bf-4b4438df6742","templateId":"683910db-02ba-40ba-92e7-726c880160a9","templateName":"ArticleJSS","placeholders":{"jss-main":[{"uid":"232bb7e9-289f-492d-a916-2b6185e44a84","componentName":"ArticleTemplate","dataSource":"","fields":{"data":{"articleTemplate":{"title":{"jsonValue":{"value":"A new look at how corporations impact the economy and households"}},"sEOTitle":{"value":""},"description":{"jsonValue":{"value":"We map the different ways in which the economic value that large companies create flows to households in OECD economies and examine what has changed in the past quarter-century."}},"sEODescription":{"value":""},"displayDate":{"jsonValue":{"value":"2021-05-31T00:00:00Z"}},"body":{"value":"[[DownloadsSidebar]]\n\u003cp\u003e\u003cstrong\u003eThe role of companies in the economy\u003c/strong\u003e and their responsibilities to stakeholders and society at large has become a major topic of debate. Yet there is little clarity or consensus about how the business activity of companies impacts the economy and society. In this discussion paper, the first in a series on companies in the 21st century, we assess how the economic value that companies create flows to households in the 37 OECD countries, and how these flows have shifted over the past 25 years. We identify patterns in what different types of companies do and how they do it, and how the mix of these companies and their patterns of economic impact have changed.\u003c/p\u003e\n\u003cp\u003eAt its core are two analyses: The first maps all the pathways through which a dollar of company revenue reaches households\u0026mdash;not just traditional measures of labor and capital income but also less-discussed aspects such as consumer surplus and supplier payments. The second is an algorithmic clustering of companies into eight \u0026ldquo;archetypes,\u0026rdquo; based on what they do and their impacts on society. This clustering transcends traditional sectoral views and highlights the similarities and differences between companies in how they affect households. For both analyses, we seek to understand the situation today and how it has changed over the past 25 years.\u003c/p\u003e\n\u003ch3\u003eThe business sector overall contributes 72 percent of GDP in the OECD, and corporations with more than $1 billion in revenue account for an increasingly large share of that\u003c/h3\u003e\n\u003cp\u003e A starting point for our research is the steady contribution of business to the economy. Among OECD economies, business activity \u0026ndash; the value added from businesses of any size or formality including corporations, partnerships, and sole proprietorships \u0026ndash; accounts for 72 percent of GDP. The remainder comes mainly from government, non-profit activity, and household incomes from real estate (Exhibit 1).\u003c/p\u003e\n[[Exhibit 1]]\n\u003cp\u003e\u003ca href=\"/mgi/our-research/pixels-of-progress-chapter-1\"\u003eMeasured in GDP per capita\u003c/a\u003e, the contribution of the entire business sector has tripled since 1960 on average in major OECD economies, in proportion with their overall economic growth. Companies underpin 85 percent of technology investment and 85 percent of labor productivity growth since 1995, a larger proportion than their GDP contribution. \u003c/p\u003e\n\u003cp\u003eThe size of the business sector varies only slightly within each of the major economies, and their share has remained steady for the past 60 years. This steadiness masks significant underlying shifts, notably including the growth of corporations over $1 billion in revenue, which increased their global revenues by 60 percent relative to their home country\u0026rsquo;s GDP since 1995. \u003c/p\u003e\n\u003ch3\u003eEconomic value flows from companies to households via eight pathways, of which labor income and consumer surplus are the largest direct pathways\u003c/h3\u003e\n\u003cp\u003eThe overall business sector in the OECD, described above, includes companies of all types and represents $44 trillion in gross value added. For much of this paper, we narrow our focus to a subset of large corporations in the OECD with revenue exceeding $1 billion\u0026mdash;about 5,000 companies in all, which together had $40 trillion in revenue and represented $17 trillion in gross value added in 2018. \u003c/p\u003e\n\u003cp\u003eUsing this data set, we identify eight pathways through which economic value from corporations flows to households and the economy (Exhibit 2). \u003c/p\u003e\n[[Exhibit 2]]\n\u003cp\u003eFive are directly measurable monetary flows: labor income, capital income, taxes, investment in capital assets, and payments to suppliers. The money flowing through the supplier payment and investment pathways passes through other companies to reach households and the economy.\u003c/p\u003e\n\u003cp\u003eThe sixth is consumer surplus (the difference between what consumers are prepared to pay and what they do pay), which we estimate.\u003c/p\u003e\n[[MostPopularArticles 5]]\n\u003cp\u003eThe final two pathways are negative and positive spillovers, which we do not assess comprehensively beyond the examples of environmental impact and contributions to total factor productivity growth (unaccounted for in additional labor or capital input).\u003c/p\u003e\n\u003cp\u003eWe find labor income is the largest direct pathway, with wages and benefits accounting for $0.25 of each dollar of revenue. Just over half, $0.58 on every dollar, goes to suppliers (themselves companies large and small), reflecting the role they play in enabling corporations to create and deliver their products and services.\u003c/p\u003e\n\u003cp\u003eThe other significant pathway is consumer surplus, which we estimate to be about $0.40 per dollar of revenue.\u003c/p\u003e\n\u003cp\u003eThese pathways have changed over the past 25 years. Among the key changes: capital income has grown while labor income and supplier payments declined.\u003c/p\u003e\n\u003cp\u003eComparing two periods, 1994-96 and 2016-18, the biggest change has been a two-thirds increase in the capital income pathway, from $0.04 to $0.07 per revenue dollar. Applied to the $40 trillion in revenue represented by our large company data set, this $0.03 difference amounts to an increase in capital income of $1.2 trillion.\u003c/p\u003e\n\u003cp\u003eThe labor income pathway shrank by $0.02, or 6 percent. Labor per dollar of revenue fell by 15 percent and wages grew only 11 percent. Productivity gains amounted to 25 percent in real terms, significantly more than wage growth, which gains from labor productivity went predominantly to capital income.\u003c/p\u003e\n\u003cp\u003eInvestment in intangible assets grew more than threefold as a proportion of revenue in this period, while investment in tangible assets dropped by half. \u003c/p\u003e\n\u003cp\u003eSupplier payments also fell by $0.02, or 4 percent. The decline was especially steep for suppliers that were small and midsize enterprises, which saw a 10 percent drop in share of payments to suppliers in the United States, with similar patterns in other countries. The share going to domestic suppliers in each country also fell; about half of this decrease in supplier payments moved to foreign OECD suppliers and the other half to non-OECD suppliers. \u003c/p\u003e\n\u003cp\u003eThe tax pathway held steady overall as decreases in corporate taxes, especially in the United Kingdom and the United States, were offset by slight increases in production taxes, especially in Japan, and corporate income tax in France.\u003c/p\u003e\n\u003ch3\u003eClustering companies by how they do what they do reveals eight distinct company archetypes that differ in their patterns of impact on the economy and households \u003c/h3\u003e\n\u003cp\u003eWe clustered the large corporations into eight archetypes: Discoverers, Technologists, Experts, Deliverers, Makers, Builders, Fuelers, and Financiers. We based the clustering on the companies\u0026rsquo; factor inputs (for example, labor and both physical and intangible capital), how they create economic value (for example, cost structure and R\u0026amp;D spending), and their relative impacts on the economy via the eight pathways.\u003c/p\u003e\n\u003cp\u003eSome of the eight, including Fuelers and Financiers follow traditional sector lines, but others look quite different.\u003c/p\u003e\n\u003cul\u003e\n \u003cli\u003e\u003cem\u003eDiscoverers \u003c/em\u003ehave high R\u0026amp;D, intellectual property, and capital income. They include pharmaceutical and biotechnology companies as well as some household products companies that rely heavily on R\u0026amp;D and intellectual property to differentiate their products.\u003c/li\u003e\n \u003cli\u003e\u003cem\u003eDeliverers\u003c/em\u003e have high employment levels and large supplier costs typical of retail and distribution. They include some manufacturers, such as footwear and luxury apparel companies, that also have high marketing costs; while Deliverers account for 16 percent of revenue, they employ 29 percent of workers in our data set of large corporations.\u003c/li\u003e\n \u003cli\u003e\u003cem\u003eTechnologists\u003c/em\u003e\u0026mdash;who range across hardware, software, digital retailers, and media\u0026mdash;have high R\u0026amp;D and have enabled productivity growth in the economy; they have also contributed to consumer surplus through steep price reductions (as well as quality improvements) over time.\u003c/li\u003e\n \u003cli\u003e\u003cem\u003eExperts\u003c/em\u003e include for-profit hospitals, health services, business service companies, and private universities, among others. Experts particularly rely on high-skill workers and devote the highest share of their value added to employee compensation.\u003c/li\u003e\n \u003cli\u003e\u003cem\u003eFuelers\u003c/em\u003e are oil, gas, and coal companies that extract, distribute, and sell fuel. They make large physical investments, have the highest labor productivity and wages, pay the highest production taxes, and have the highest emissions.\u003c/li\u003e\n \u003cli\u003e\u003cem\u003eFinanciers\u003c/em\u003e are banks, insurance, and real estate companies. They help price risk and provide capital and financial services for economic activity of households, businesses, commercial ecosystems, and government. They have the highest total capital income of all archetype and the highest taxes. They also pay high wages.\u003c/li\u003e\n \u003cli\u003e\u003cem\u003eBuilders\u003c/em\u003e include utility, telecommunications, and transportation companies that construct, use, and operate physical infrastructure, as well as manufacturers of materials and chemicals. They have double the physical assets of the average and, along with Fuelers, the highest scope 1 and 2 emissions.\u003c/li\u003e\n\u003c/ul\u003e\n\u003cp\u003eOther manufacturers are clustered in Makers, which is the largest archetype, accounting for about 25 percent of the revenue of all companies and 27 percent of employment. Makers are close to or above average in their impacts across all the pathways, making their contribution through each pathway high and larger than most in absolute terms. Their employment intensity, just above average across the archetypes, combines with high wages to make their labor income among the largest of all archetypes, 20 percent above average. They have also contributed to consumer surplus through price reductions for some goods such as automotive and textiles.\u003c/p\u003e\n\u003cp\u003eWhile the characteristics of archetypes are consistent across countries, their prevalence differs. For example, Makers account for more than one-third of the total revenue from companies in Germany and Japan but just one-fifth in the United States, which has the largest proportion of Technologists (Exhibit 3).\u003c/p\u003e\n[[Exhibit 3]]\n\u003ch3\u003eChanges in the mix of archetypes explain most of the decline in labor income, while evolution of archetypes explains most of the increase in capital income, consumer surplus, and supplier payments \u003c/h3\u003e\n\u003cp\u003eMakers and Builders were long the predominant archetypes and mainstays of industrial economies, but their share of total revenue among large corporations has dropped sharply in the past quarter-century, falling by 12 and two percentage points, respectively. The share of revenue for Discoverers shrank slightly, while all other archetypes expanded their relative share, with Financiers, Experts, and Deliverers growing the most.\u003c/p\u003e\n\u003cp\u003eSuch shifts in the relative size of the archetypes have affected the pathways. For example, the archetypes whose revenue has grown in share have lower labor income contributions on average than those shrinking in share, especially Makers. This change accounts for two-thirds of the overall labor income decline across companies.\u003c/p\u003e\n\u003cp\u003eThe evolution of archetypes also results in pathway shifts. The smaller labor income pathway also stems from a sharp drop in employees per dollar of revenue in the past 25 years (a fall of 30 to 40 percent in constant dollar terms) for Experts, Fuelers, and Builders. This decline in employees per revenue dollar outweighed positive real wage growth of all three archetypes. The three also had the lowest capital income growth even as they widened their supplier payments pathway.\u003c/p\u003e\n\u003cp\u003eConversely, Technologists, Financiers, and Discoverers had the highest growth in the capital income and labor income pathways as they widened their share of gross value added and decreased their supplier payments. While all archetypes delivered greater capital income, these three archetypes alone accounted for two-thirds of the total growth of the capital income pathway on a per-revenue-dollar basis.\u003c/p\u003e\n\u003cp\u003eOne of the biggest positive impacts for all households has been the growth in consumer surplus, primarily from Technologists and Makers, whose prices dropped by 50 percent and 20 percent, respectively, and whose volumes grew the most in absolute terms.\u003c/p\u003e\n\u003cp\u003eIn general, core attributes of each archetype have become more pronounced over the past 25 years. For example, Technologists and Discoverers increased their stock of intangibles, R\u0026amp;D expenditures, and capital income more than other archetypes. Deliverers increased their employment share by nine percentage points, the largest by far. Fuelers added physical capital assets, while most others reduced them. Experts increased wages almost 40 percent, the biggest rise.\u003c/p\u003e\n\u003ch3\u003eHigh-income households have benefited the most from the patterns and shifts in the economic impact of corporations over time, but with some country variations \u003c/h3\u003e\n\u003cp\u003eThe top ten percent of households in the United States increased their share of capital income to 66 percent in 2018, from 59 percent in 1995, and received 30 percent of their income through the capital income pathway. This compares with 26 percent in Germany and 23 percent in Japan, where households are less reliant on corporate returns and more reliant on public pensions. \u003c/p\u003e\n\u003cp\u003eLabor income has also concentrated slightly to higher-income households since 1995. Clicking the interactive exhibit below allows for a comparison of how labor income, capital income, and taxes flow to different household segments in Germany, Japan, and the United States.\u003c/p\u003e\n[[Ceros 5]]\n\u003cp\u003eFor consumers, price increases in healthcare and education narrowed the consumer surplus pathway provided by Experts and Discoverers, especially to lower-income households. All households have benefited from steady or declining prices of the tradable goods of Makers and the products of Technologists, as gains from innovation are passed on to consumers. However, the top quintile of households has expanded its share of total consumer expenditure partly because these households are able to afford the higher costs of healthcare, education and housing, while lower-income households have faced the challenge of more of their income going to the rising costs of these essentials.\u003c/p\u003e\n\u003ch3\u003eThe changing impacts of corporations on households have important implications and will require further research\u003c/h3\u003e\n\u003cp\u003eNetting it out (so far), we find that what has remained true over the past quarter-century (and longer) is that business activity, including that of corporations, continues to be the dominant contributor to the economy and its growth. However, a lot has changed in the patterns of impact, as some pathways have shrunk while others have grown, and some corporate archetypes have become more prevalent and others less so.\u003c/p\u003e\n\u003cp\u003eThese changes have important implications for the economy and its stakeholders, especially households. Furthermore, this research (and its gaps) raises questions for further research as well as considerations for leaders, especially in business and policy. Companies, for example, could use this research to better understand the patterns and implications of their own impact on the economy and stakeholders. Policy leaders could consider the impact in their economies and how to accentuate the positives, capture opportunities, and address challenges.\u003c/p\u003e\n\u003cp\u003eWe plan to pursue some of these questions in our future research. In the meantime, we welcome discussion of the findings in this paper.\u003c/p\u003e"},"isFullScreenInteractive":{"boolValue":false},"hideStickySocialShareBar":{"boolValue":false},"desktopID":{"value":""},"mobileID":{"value":""},"desktopURL":{"value":""},"mobileURL":{"value":""},"desktopPaddingPercentage":{"value":""},"mobilePaddingPercentage":{"value":""},"desktopOverrideHeight":{"value":""},"mobileOverrideHeight":{"value":""},"cerosOembedURL":{"value":""},"cerosRenderMode":{"targetItem":null},"cerosBackgroundColor":{"targetItem":null},"hideByLine":{"boolValue":false},"tableOfContentsTitle":{"value":"TABLE OF CONTENTS"},"accessStatus":{"targetItem":{"key":{"value":"RegisteredUsers"},"value":{"value":"Registered Users"}}},"articleType":{"targetItem":{"displayName":"Discussion Paper"}},"hasSpecialReport":{"boolValue":false},"contentType":{"targetItem":{"displayName":"Article"}},"sourcePublication":{"targetItem":{"name":"MGI Research","displayName":"MGI Research","title":{"value":"MGI Research"},"relatedlinks":{"url":"/mgi/overview"},"landinglinks":{"jsonValue":{"value":[]}}}},"externalPublication":{"value":""},"mobileReady":{"boolValue":true},"forClientsOnly":{"boolValue":false},"excludeFromClientLink":{"boolValue":false},"originalPublishDate":{"jsonValue":{"value":"2021-05-31T00:00:00Z"}},"footnotes":{"value":""},"contributoryPractice":{"targetItems":[{"displayName":"Strategy \u0026 Corporate Finance"}]},"aboutTheAuthors":{"value":"\u003cp\u003e\u003cstrong\u003e\u003ca href=\"/our-people/james-manyika\"\u003eJames Manyika\u003c/a\u003e\u003c/strong\u003e is co-chairman of the McKinsey Global institute, where \u003cstrong\u003e\u003ca href=\"/our-people/sven-smit\"\u003eSven Smit\u003c/a\u003e\u003c/strong\u003e is co-chairman and \u003cstrong\u003e\u003ca href=\"/sitecore/service/notfound.aspx?item=web%3a%7b8d840caa-6a65-4626-8ce5-1f9fefe604dd%7d%40en\"\u003eLola Woetzel\u003c/a\u003e\u003c/strong\u003e is a director. \u003cstrong\u003e\u003ca href=\"/our-people/michael-birshan\"\u003eMichael Birshan\u003c/a\u003e\u003c/strong\u003e is a senior partner in McKinsey\u0026rsquo;s London office. \u003cstrong\u003eKevin Russell \u003c/strong\u003eis a consultant in the Charlotte office, and \u003cstrong\u003eLindsay Purcell \u003c/strong\u003eis a consultant in the Atlanta office.\u003c/p\u003e\n\u003chr /\u003e\n\u003cp\u003eThis article was edited by Peter Gumbel, editorial director of the McKinsey Global Institute.\u003c/p\u003e"},"authors":{"targetItems":[{"template":{"id":"3FBABDB63A094F68B1F8E1BBE1BA124E","name":"Author"},"id":"4FD3F557E830420287A9709EF1357C32","name":"James Manyika","authorTitle":{"value":"James Manyika"},"description":{"value":""},"thumbnailImage":{"alt":"","src":null},"profile":{"targetItems":[{"standardImage":{"src":"/~/media/mckinsey/our people/james manyika/james-manyika_profile_1536x1152.jpg","alt":"James Manyika"},"emailLinks":{"value":""},"linkedInUrl":{"value":""},"description":{"value":"Previously led research on global economic and technology trends and served many of the world's leading high tech companies on growth, innovation, and strategy"},"locations":{"targetItems":[{"name":"Bay Area","displayName":"Bay Area"}]},"firmTitle":{"value":"Chairman Emeritus, McKinsey Global Institute, and Senior Partner, Emeritus"},"thumbnailImage":{"alt":"James Manyika","src":"/~/media/mckinsey/our people/james manyika/james-manyika_headshot_988x741.jpg"},"url":{"path":"/our-people/james-manyika"}}]}},{"template":{"id":"3FBABDB63A094F68B1F8E1BBE1BA124E","name":"Author"},"id":"D32AF5E00B32488BBB2E0F21E6F99B0E","name":"Michael Birshan","authorTitle":{"value":"Michael Birshan"},"description":{"value":"Global coleader of our Strategy \u0026 Corporate Finance Practice, partnering with bold and determined leaders to set strategy, transform organizations, and deliver sustainable value"},"thumbnailImage":{"alt":"","src":null},"profile":{"targetItems":[{"standardImage":{"src":"/~/media/mckinsey/our people/michael birshan/michael birshan_8840_fc-mask_profile_1536x1152.png","alt":""},"emailLinks":{"value":"Michael_Birshan@mckinsey.com"},"linkedInUrl":{"value":"https://www.linkedin.com/in/michaelbirshan"},"description":{"value":"Global coleader of our Strategy \u0026 Corporate Finance Practice, partnering with bold and determined leaders to set strategy, transform organizations, and deliver sustainable value"},"locations":{"targetItems":[{"name":"London","displayName":"London"}]},"firmTitle":{"value":"Senior Partner"},"thumbnailImage":{"alt":"","src":"/~/media/mckinsey/our people/michael birshan/michael birshan_8840-1_fc-mask.png"},"url":{"path":"/our-people/michael-birshan"}}]}},{"template":{"id":"3FBABDB63A094F68B1F8E1BBE1BA124E","name":"Author"},"id":"993A770440604B3CB8DB8929391C3CDD","name":"Sven Smit","authorTitle":{"value":"Sven Smit"},"description":{"value":""},"thumbnailImage":{"alt":"","src":null},"profile":{"targetItems":[{"standardImage":{"src":"/~/media/mckinsey/our people/sven smit/v2/sven-smit_profile_1536x1152.jpg","alt":"Sven Smit"},"emailLinks":{"value":"Sven_Smit@mckinsey.com"},"linkedInUrl":{"value":"https://nl.linkedin.com/in/sven-smit-52ab0675"},"description":{"value":"Leads research on economic and business trends and works with companies to develop business strategies and transformations"},"locations":{"targetItems":[{"name":"Amsterdam","displayName":"Amsterdam"}]},"firmTitle":{"value":"Senior Partner, Chair of Insights and Ecosystems, and Chair of McKinsey Global Institute"},"thumbnailImage":{"alt":"Sven Smit","src":"/~/media/mckinsey/our people/sven smit/v2/sven-smit_headshot_988x741.jpg"},"url":{"path":"/our-people/sven-smit"}}]}},{"template":{"id":"3FBABDB63A094F68B1F8E1BBE1BA124E","name":"Author"},"id":"548F5B4C050F45D0B61B709203DA7E52","name":"Lola Woetzel","authorTitle":{"value":"Lola Woetzel"},"description":{"value":""},"thumbnailImage":{"alt":"Lola Woetzel","src":"/~/media/mckinsey/our people/lola woetzel/lola woetzel_headshot_988x741.jpg"},"profile":{"targetItems":[]}},{"template":{"id":"3FBABDB63A094F68B1F8E1BBE1BA124E","name":"Author"},"id":"264C7E96FD9D482BBC272C7CCA3287EB","name":"Kevin Russell","authorTitle":{"value":"Kevin Russell"},"description":{"value":""},"thumbnailImage":{"alt":"","src":null},"profile":{"targetItems":[]}},{"template":{"id":"3FBABDB63A094F68B1F8E1BBE1BA124E","name":"Author"},"id":"13BDCAF22B524037902CCCC73247C13C","name":"Lindsay Purcell","authorTitle":{"value":"Lindsay Purcell"},"description":{"value":""},"thumbnailImage":{"alt":"","src":null},"profile":{"targetItems":[]}}]},"nonPartnerAuthors":{"targetItems":[]},"interactiveToUse":{"targetItem":null},"enableArticleComponents":{"boolValue":false},"relatedArticles":{"targetItems":[{"sourcePublication":{"targetItem":{"name":"MGI Research"}},"publicationSource":null,"externalPublication":{"value":""},"title":{"value":"COVID-19 has revived the social contract in advanced economies—for now. What will stick once the crisis abates?"},"url":{"path":"/industries/public-sector/our-insights/covid-19-has-revived-the-social-contract-in-advanced-economies-for-now-what-will-stick-once-the-crisis-abates"},"eyebrow":{"targetItem":{"name":"Article"}},"articleType":{"targetItem":{"name":"Article"}},"contentType":{"targetItem":{"name":"Article"}},"description":{"value":"Massive government spending has sought to shield individuals from the economic consequences of the pandemic, reversing a long-term trend of institutional pullback in the social contract."},"standardImage":{"src":"/~/media/mckinsey/industries/public and social sector/our insights/covid 19 has revived the social contract in advanced economies for now what will stick once the crisis abates/png-covid-socialcontract-hero-1536x1536.png","alt":"COVID-19 has revived the social contract in advanced economies—for now. What will stick once the crisis abates?"},"heroImage":null,"thumbnailImage":null},{"sourcePublication":{"targetItem":{"name":"MGI Research"}},"publicationSource":null,"externalPublication":{"value":""},"title":{"value":"The consumer demand recovery and lasting effects of COVID-19"},"url":{"path":"/industries/consumer-packaged-goods/our-insights/the-consumer-demand-recovery-and-lasting-effects-of-covid-19"},"eyebrow":{"targetItem":{"name":"Report"}},"articleType":{"targetItem":{"name":"Report"}},"contentType":{"targetItem":{"name":"Article"}},"description":{"value":"The pandemic led to an unprecedented consumption shock across countries that upended long-standing consumer habits. But what happens once the pandemic is over?"},"standardImage":{"src":"/~/media/mckinsey/industries/consumer packaged goods/our insights/the consumer demand recovery and lasting effects of covid 19/hero-homepage_1536x1536.png","alt":"The consumer demand recovery and lasting effects of COVID-19"},"heroImage":null,"thumbnailImage":null},{"sourcePublication":{"targetItem":{"name":"MGI Research"}},"publicationSource":null,"externalPublication":{"value":""},"title":{"value":"What\u0026rsquo;s next for consumers, workers, and companies in the post-COVID-19 recovery"},"url":{"path":"/featured-insights/future-of-work/whats-next-for-consumers-workers-and-companies-in-the-post-covid-19-recovery"},"eyebrow":{"targetItem":{"name":"Article"}},"articleType":{"targetItem":{"name":"Article"}},"contentType":{"targetItem":{"name":"Article"}},"description":{"value":"Many changes in business models and consumer behavior during the pandemic will stick, but action will be needed to ensure the rebound is not uneven."},"standardImage":{"src":"/~/media/mckinsey/featured insights/future of organizations/whats next for consumers workers and companies in the post covid 19 recovery/standard-mgi-covid-trilogy.png","alt":"What's next for consumers, workers, and companies in the post-COVID-19 recovery"},"heroImage":null,"thumbnailImage":null}]},"useEnhancedAuthors":{"boolValue":false},"acknowledgements":{"value":""},"showSocialShareFooter":{"boolValue":false},"template":{"id":"683910db-02ba-40ba-92e7-726c880160a9"},"hideFromSearchEngines":{"boolValue":false},"heroFiftyFiftyBackground":{"targetItem":null},"backgroundColor":{"targetItem":null},"gradientDirection":{"targetItem":{"key":{"value":"Bottom Right"},"value":{"value":"bottom-right"}}},"hideStickySubscriptionBar":{"value":false},"enableRegWall":{"boolValue":false},"timer":{"value":"8"},"regWallHeading":{"value":""},"showGoToHomeLink":{"boolValue":false},"regWallDescription":{"value":""},"isInsightsStorePage":{"boolValue":false},"enableRatingsForArticleBody":{"boolValue":false},"enableRatingsForMostPopular":{"boolValue":false},"selectedModalSubscriptions":{"targetItems":[]},"link1":{"queryString":"","className":"","anchor":"","linkType":"internal","url":"","text":"","targetItem":null},"link2":{"queryString":"","className":"","anchor":"","linkType":"internal","url":"","text":"","targetItem":null},"link3":{"queryString":"","className":"","anchor":"","linkType":"internal","url":"","text":"","targetItem":null},"link4":{"queryString":"","className":"","anchor":"","linkType":"internal","url":"","text":"","targetItem":null},"link5":{"queryString":"","className":"","anchor":"","linkType":"internal","url":"","text":"","targetItem":null},"fullReportPDF":{"name":"Full Report PDF","src":null,"displayName":null,"title":null,"keywords":null,"description":null,"extension":null,"mimeType":null,"size":null,"pageCount":null,"thumbnailImageSrc":""},"fullReportPDFDisplayName":{"value":""},"appendixPDF":{"name":"Appendix PDF","src":null,"displayName":null,"title":null,"keywords":null,"description":null,"extension":null,"mimeType":null,"size":null,"pageCount":null,"thumbnailImageSrc":""},"appendixPDFDisplayName":{"value":""},"articlePDF":{"name":"Article PDF","src":null,"displayName":null,"title":null,"keywords":null,"description":null,"extension":null,"mimeType":null,"size":null,"pageCount":null,"thumbnailImageSrc":""},"briefingNotePDF":{"name":"Briefing Note PDF","src":null,"displayName":null,"title":null,"keywords":null,"description":null,"extension":null,"mimeType":null,"size":null,"pageCount":null,"thumbnailImageSrc":""},"discussionPapersPDF":{"name":"Discussion Papers PDF","src":"/~/media/mckinsey/business functions/strategy and corporate finance/our insights/a new look at how corporations impact the economy and households/a-new-look-at-how-corporations-impact-the-economy-and households-vf.pdf","displayName":"A-new-look-at-how-corporations-impact-the-economy-and households-vF","title":"A new look at how corporations impact the economy and households","keywords":"","description":"","extension":"pdf","mimeType":"application/pdf","size":1146737,"pageCount":"84","thumbnailImageSrc":"/~/media/mckinsey/business functions/strategy and corporate finance/our insights/a new look at how corporations impact the economy and households/a-new-look-at-how-corporations-impact-the-economy-and households-vf_thumbnail.jpeg"},"executiveSummaryPDF":{"name":"Executive Summary PDF","src":null,"displayName":null,"title":null,"keywords":null,"description":null,"extension":null,"mimeType":null,"size":null,"pageCount":null,"thumbnailImageSrc":""},"executiveSummaryPDFDisplayName":{"value":""},"researchPreviewPDF":{"name":"Research Preview PDF","src":null,"displayName":null,"title":null,"keywords":null,"description":null,"extension":null,"mimeType":null,"size":null,"pageCount":null,"thumbnailImageSrc":""},"heroImage":{"src":"/~/media/mckinsey/business functions/strategy and corporate finance/our insights/a new look at how corporations impact the economy and households/mgi-21cc-hero_1536x864.png","alt":"A new look at how corporations impact the economy and households"},"standardImage":{"src":"/~/media/mckinsey/business functions/strategy and corporate finance/our insights/a new look at how corporations impact the economy and households/mgi-21cc-hero-homepage_1536x1536.png","alt":"A new look at how corporations impact the economy and households"},"heroImageTopOffset":{"value":""},"headerOverlayOpacity":{"targetItem":null},"heroType":{"targetItem":{"displayName":"Full Bleed Hero With Non Immersive Dek"}},"photoOverlayOpacity":{"targetItem":null},"hideHero":{"boolValue":false},"renderStackedHeroLayoutForMobile":{"boolValue":false},"articleHeroVideoId":{"value":""},"podcastHeroOmnyAudioID":{"value":""},"heroBespokeInteractiveID":{"value":""},"bespokeHeroRenderMode":{"targetItem":null},"audio":{"results":[]},"disruptor1up":{"results":[{"mediaID":{"value":"cop"},"title":{"value":"Explore COP29 with McKinsey"},"description":{"value":"Join our series of dynamic virtual events during COP29. Discover new research, practical strategies, and collaborations across sectors to move climate action beyond why to how."},"image":{"src":"/~/media/mckinsey/business functions/sustainability/how we help clients/cop/cop29/cop_29_thumb.jpg","alt":"McKinsey at COP29"},"moreLinks":{"jsonValue":{"value":[{"CssClass":"","LinkType":"external","Target":"","Text":"Register","Title":"","Url":"https://mckinsey.cventevents.com/Q2MVE1?rt=RrQJ1iBSfEiqSK7N9VAGCw\u0026RefId=cop"}]}}},{"mediaID":{"value":"attheedge"},"title":{"value":"Subscribe to the \u003cem\u003eAt the Edge\u003c/em\u003e podcast"},"description":{"value":""},"image":{"src":null,"alt":""},"moreLinks":{"jsonValue":{"value":[{"CssClass":"btn btn-fill","LinkType":"external","Target":"","Text":"Apple Podcasts","Title":"","Url":"https://podcasts.apple.com/us/podcast/at-the-edge/id1612870236"},{"CssClass":"btn btn-fill","LinkType":"external","Target":"","Text":"Spotify","Title":"","Url":"https://open.spotify.com/show/3SnUcezwM20nKnzqvUl6iF"}]}}},{"mediaID":{"value":"authortalks"},"title":{"value":"Visit \u003cem\u003e\u003ca href=\"/featured-insights/mckinsey-on-books/author-talks\"\u003eAuthor Talks\u003c/a\u003e\u003c/em\u003e to see the full series."},"description":{"value":""},"image":{"src":"/~/media/mckinsey/featured insights/mckinsey books/author talks/authortalks_1536x1536_v1.png","alt":"Author Talks"},"moreLinks":{"jsonValue":{"value":[{"CssClass":"","LinkType":"internal","Target":"","Text":"Learn more","Title":"","Url":"/featured-insights/mckinsey-on-books/author-talks"}]}}},{"mediaID":{"value":"COVID"},"title":{"value":"Explore McKinsey’s ongoing coverage of the pandemic"},"description":{"value":""},"image":{"src":"/~/media/mckinsey/business functions/risk/our insights/covid 19 implications for business/implications-briefing-note-4-standard-1536x1536.jpg","alt":"COVID-19: Implications for business"},"moreLinks":{"jsonValue":{"value":[{"CssClass":"","LinkType":"internal","Target":"","Text":"Read more about the business impact of coronavirus and how organizations can respond","Title":"","Url":"/featured-insights/coronavirus-leading-through-the-crisis"}]}}},{"mediaID":{"value":"CE"},"title":{"value":"Customer experience"},"description":{"value":"More insight into creating competitive advantage by putting customers first and managing their journeys."},"image":{"src":"/~/media/mckinsey/industries/public and social sector/our insights/customer experience/customer-experience_22934010_1536x864.jpg","alt":"Customer experience"},"moreLinks":{"jsonValue":{"value":[{"CssClass":"","LinkType":"internal","Target":"","Text":"Learn more","Title":"","Url":""}]}}},{"mediaID":{"value":"driversofdisruption"},"title":{"value":"Want to subscribe to \u003ca href=\"/features/mckinsey-center-for-future-mobility/our-insights/drivers-of-disruption\"\u003e\u003cem\u003eDrivers of Disruption\u003c/em\u003e\u003c/a\u003e?"},"description":{"value":""},"image":{"src":null,"alt":""},"moreLinks":{"jsonValue":{"value":[{"CssClass":"btn btn-fill","LinkType":"external","Target":"","Text":"Apple Podcasts","Title":"","Url":"https://podcasts.apple.com/us/podcast/drivers-of-disruption/id1687257324"},{"CssClass":"btn btn-fill","LinkType":"external","Target":"","Text":"Spotify","Title":"","Url":"https://open.spotify.com/show/5fWXzWmVKacc5I7u9CQsah?si=KQ-wUOSyQlqcnfexExiH9Q\u0026nd=1"}]}}},{"mediaID":{"value":"JOL"},"title":{"value":"The Journey of Leadership"},"description":{"value":"\u003cstrong\u003eHow CEOs Learn to Lead from the Inside Out\u003c/strong\u003e\u003cbr /\u003e\nBy \u003ca href=\"/our-people/dana-maor\"\u003eDana Maor\u003c/a\u003e, \u003ca href=\"https://www.linkedin.com/in/hanswernerkaas\"\u003eHans-Werner Kaas\u003c/a\u003e, \u003ca href=\"/our-people/kurt-strovink\"\u003eKurt Strovink\u003c/a\u003e, and \u003ca href=\"/our-people/ramesh-srinivasan\"\u003eRamesh Srinivasan\u003c/a\u003e"},"image":{"src":"/~/media/mckinsey/featured insights/mckinsey books/journey of leadership/journey-of-leadership-book-cover-1536x1536.jpg","alt":"The Journey of Leadership book cover"},"moreLinks":{"jsonValue":{"value":[{"CssClass":"","LinkType":"internal","Target":"","Text":"Learn more","Title":"","Url":"/featured-insights/mckinsey-on-books/journey-of-leadership"}]}}},{"mediaID":{"value":"surveys"},"title":{"value":"McKinsey\u0026rsquo;s original survey research"},"description":{"value":""},"image":{"src":"/~/media/mckinsey/featured insights/mckinsey global surveys/mck-global-survey-landing-1284442931-thumb-1536x1536.jpg","alt":"McKinsey Global Surveys"},"moreLinks":{"jsonValue":{"value":[{"CssClass":"","LinkType":"internal","Target":"","Text":"Read more","Title":"","Url":"/featured-insights/mckinsey-global-surveys"}]}}},{"mediaID":{"value":"healthcarepodcast"},"title":{"value":"Want to subscribe to \u003cem\u003eMcKinsey on Healthcare\u003c/em\u003e?"},"description":{"value":""},"image":{"src":null,"alt":""},"moreLinks":{"jsonValue":{"value":[{"CssClass":"btn btn-fill","LinkType":"external","Target":"","Text":"Apple Podcasts","Title":"","Url":"https://podcasts.apple.com/us/podcast/mckinsey-on-healthcare/id1469979748"},{"CssClass":"btn btn-fill","LinkType":"external","Target":"","Text":"Spotify","Title":"","Url":"https://open.spotify.com/show/3y1AgAilV4E5Jz0x4wD9O2?si=mLCTUQ2ORTS_LC5gW_htlA\u0026dl_branch=1"}]}}},{"mediaID":{"value":"myleadershipjourney"},"title":{"value":"My Leadership Journey"},"description":{"value":"A series of conversations with leaders about the people and experiences that shaped them"},"image":{"src":"/~/media/mckinsey/business functions/people and organizational performance/our insights/my leadership journey/my leadership journey collection page_131575496_thumb_1536x1536.jpg","alt":"My Leadership Journey"},"moreLinks":{"jsonValue":{"value":[{"CssClass":"","LinkType":"internal","Target":"","Text":"Learn more","Title":"","Url":"/capabilities/people-and-organizational-performance/our-insights/my-leadership-journey"}]}}},{"mediaID":{"value":"lessonsfromleaders"},"title":{"value":"State of Organizations: Lessons from leaders"},"description":{"value":""},"image":{"src":"/~/media/mckinsey/business functions/people and organizational performance/our insights/state of org lessons from leaders/soo-chapter-2-872507320-standard-1536x1536.jpg","alt":"\"\""},"moreLinks":{"jsonValue":{"value":[{"CssClass":"","LinkType":"internal","Target":"","Text":"Explore more interviews","Title":"","Url":"/capabilities/people-and-organizational-performance/our-insights/lessons-from-leaders"}]}}},{"mediaID":{"value":"stateoforg"},"title":{"value":"The State of Organizations 2023"},"description":{"value":""},"image":{"src":null,"alt":""},"moreLinks":{"jsonValue":{"value":[{"CssClass":"","LinkType":"internal","Target":"","Text":"Report overview","Title":"","Url":"/capabilities/people-and-organizational-performance/our-insights/the-state-of-organizations-2023"}]}}},{"mediaID":{"value":"titaniumeconomy"},"title":{"value":"The Titanium Economy"},"description":{"value":"How Industrial Technology Can Create a Better, Faster, Stronger America\u003cbr /\u003e\nBy \u003ca href=\"/our-people/asutosh-padhi\"\u003eAsutosh Padhi\u003c/a\u003e, Gaurav Batra, and \u003ca href=\"https://fernweh.com/nick-santhanam/\"\u003eNick Santhanam\u003c/a\u003e"},"image":{"src":"/~/media/mckinsey/featured insights/mckinsey books/the titanium economy/titanium_3d-1536x1536-hero-trans.png","alt":"The Titanium Economy Book cover"},"moreLinks":{"jsonValue":{"value":[{"CssClass":"","LinkType":"internal","Target":"","Text":"Learn more","Title":"","Url":"/featured-insights/mckinsey-on-books/the-titanium-economy"}]}}},{"mediaID":{"value":"GII"},"title":{"value":"Global Infrastructure Initiative"},"description":{"value":"Convening global leaders in infrastructure and capital projects in pursuit of new solutions"},"image":{"src":"/~/media/mckinsey/business functions/operations/our insights/the global infrastructure initiative/jpg-cpi-improving-construction-productivity-1536x864.jpg","alt":"Improving construction productivity"},"moreLinks":{"jsonValue":{"value":[{"CssClass":"","LinkType":"external","Target":"","Text":"Learn more","Title":"","Url":"http://www.globalinfrastructureinitiative.com/"}]}}},{"mediaID":{"value":"FOApodcast"},"title":{"value":"Subscribe to \u003ca href=\"/featured-insights/future-of-asia/future-of-asia-podcasts\"\u003e\u003cem\u003eFuture of Asia Podcasts\u003c/em\u003e\u003c/a\u003e"},"description":{"value":""},"image":{"src":null,"alt":""},"moreLinks":{"jsonValue":{"value":[{"CssClass":"btn btn-fill","LinkType":"external","Target":"","Text":"Apple Podcasts","Title":"","Url":"https://podcasts.apple.com/us/podcast/future-of-asia/id1480316959"},{"CssClass":"btn btn-fill","LinkType":"external","Target":"","Text":"Spotify","Title":"","Url":"https://open.spotify.com/show/2CZX4AR2DT4hQCFKJG0cCv?si=B20tkrOmQYymuCUhKCQOwA"}]}}},{"mediaID":{"value":"logisticsdisruptors"},"title":{"value":"Logistics Disruptors"},"description":{"value":"Meet the companies shaping how goods will move tomorrow."},"image":{"src":"/~/media/mckinsey/industries/travel logistics and infrastructure/our insights/logistics disruptors/tli-logistics-disruptors-1536x1536.jpeg","alt":"illustration autonomous truck driving off into the future"},"moreLinks":{"jsonValue":{"value":[{"CssClass":"","LinkType":"internal","Target":"","Text":"Learn more","Title":"","Url":"/industries/travel-logistics-and-infrastructure/our-insights/logistics-disruptors"}]}}},{"mediaID":{"value":"mckinseyexplainers"},"title":{"value":"Looking for direct answers to other complex questions?"},"description":{"value":""},"image":{"src":"/~/media/mckinsey/featured insights/mckinsey explainers/mckinseyexplainers-flat-thumb-1536x1536.jpg","alt":"Circular, white maze filled with white semicircles."},"moreLinks":{"jsonValue":{"value":[{"CssClass":"","LinkType":"internal","Target":"","Text":"Explore the full McKinsey Explainers series","Title":"","Url":"/featured-insights/mckinsey-explainers"}]}}},{"mediaID":{"value":"livesandlegacies"},"title":{"value":"\u003cem\u003e\u003ca href=\"/featured-insights/mckinsey-on-lives-and-legacies\"\u003eMcKinsey on Lives \u0026amp; Legacies\u003c/a\u003e\u003c/em\u003e"},"description":{"value":"Highlighting the lasting impact of leaders and executives"},"image":{"src":"/~/media/mckinsey/featured insights/mckinsey on lives and legacies/lives-and-legacies-landing-page-thumb-1536x1536.jpg","alt":"McKinsey on Lives \u0026 Legacies"},"moreLinks":{"jsonValue":{"value":[{"CssClass":"","LinkType":"internal","Target":"","Text":"Explore previous obituaries","Title":"","Url":"/featured-insights/mckinsey-on-lives-and-legacies"}]}}},{"mediaID":{"value":"Strategy"},"title":{"value":"Strategy in a digital age"},"description":{"value":"Our series on developing corporate and business-unit strategies in a digitally disrupted world."},"image":{"src":"/~/media/mckinsey/business functions/mckinsey digital/our insights/strategy in a digital age/digital-strategy_1536x864_flexpromoimage.jpg","alt":""},"moreLinks":{"jsonValue":{"value":[{"CssClass":"","LinkType":"internal","Target":"","Text":"View the collection","Title":"","Url":"/featured-insights/strategy-in-a-digital-age"}]}}},{"mediaID":{"value":"great"},"title":{"value":"The great re-make: Manufacturing for modern times"},"description":{"value":"This 21-article compendium gives practical insights for manufacturing leaders looking to keep a step ahead of today\u0026rsquo;s disruptions."},"image":{"src":"/~/media/mckinsey/business functions/operations/our insights/the great remake manufacturing for modern times/jpg-ops-dm-compendium-cover-1536x864.jpg","alt":"The great re-make: Manufacturing for modern times"},"moreLinks":{"jsonValue":{"value":[{"CssClass":"","LinkType":"internal","Target":"","Text":"View the collection","Title":"","Url":"/capabilities/operations/our-insights/the-great-re-make-manufacturing-for-modern-times-compendium"}]}}},{"mediaID":{"value":"futureofamerica"},"title":{"value":"Subscribe to the \u003cem\u003eFuture of America\u003c/em\u003e podcast"},"description":{"value":""},"image":{"src":null,"alt":""},"moreLinks":{"jsonValue":{"value":[{"CssClass":"btn btn-fill","LinkType":"external","Target":"_blank","Text":"Apple Podcasts","Title":"","Url":"https://podcasts.apple.com/us/podcast/future-of-america/id1616517376"},{"CssClass":"btn btn-fill","LinkType":"external","Target":"","Text":"Spotify","Title":"","Url":"https://open.spotify.com/show/0FpeyjojJTKf2hVtQ3otah"}]}}},{"mediaID":{"value":"governmentpodcast"},"title":{"value":"Subscribe to the \u003cem\u003eMcKinsey on Government\u003c/em\u003e podcast"},"description":{"value":""},"image":{"src":null,"alt":""},"moreLinks":{"jsonValue":{"value":[{"CssClass":"btn btn-fill","LinkType":"external","Target":"_blank","Text":"Apple Podcasts","Title":"","Url":"https://podcasts.apple.com/us/podcast/mckinsey-on-government/id1573645359"},{"CssClass":"btn btn-fill","LinkType":"external","Target":"","Text":"Spotify","Title":"","Url":"https://open.spotify.com/show/61XsO4B2ersroMft8t3KSq"}]}}},{"mediaID":{"value":"podcast"},"title":{"value":"Want to subscribe to the McKinsey Podcast?\n"},"description":{"value":"\u003cdiv class=\"cta-container -align-horizontal\"\u003e\n \u003ca href=\"#\" class=\"btn btn-fill\"\u003eGoogle Play\u003c/a\u003e\n \u003ca href=\"#\" class=\"btn btn-fill\"\u003eiTunes\u003c/a\u003e\n \u003ca href=\"#\" class=\"btn btn-fill\"\u003eStitcher\u003c/a\u003e\n \u003ca href=\"#\" class=\"btn mck-rss-icon\"\u003eRSS\u003c/a\u003e\n\u003c/div\u003e"},"image":{"src":null,"alt":""},"moreLinks":{"jsonValue":{"value":[]}}},{"mediaID":{"value":"operationspodcast"},"title":{"value":"Subscribe to the \u003cem\u003eMcKinsey Talks Operations\u003c/em\u003e podcast"},"description":{"value":""},"image":{"src":null,"alt":""},"moreLinks":{"jsonValue":{"value":[{"CssClass":"btn btn-fill","LinkType":"external","Target":"_blank","Text":"Apple Podcasts","Title":"","Url":"https://podcasts.apple.com/us/podcast/mckinsey-talks-operations/id1598128813"},{"CssClass":"btn btn-fill","LinkType":"external","Target":"","Text":"Spotify","Title":"","Url":"https://open.spotify.com/show/7LYQS2fxAoBmC3LgFNJbi8"}]}}},{"mediaID":{"value":"energyinsights"},"title":{"value":"Speak to an expert about our upstream capabilities"},"description":{"value":""},"image":{"src":"/~/media/mckinsey/industries/oil and gas/how we help clients/energy insights/newsletter-signup-promo-bar-1536x768.jpg","alt":"EI newsletter sign up"},"moreLinks":{"jsonValue":{"value":[{"CssClass":"btn btn-fill","LinkType":"internal","Target":"","Text":"Contact us","Title":"","Url":"/industries/oil-and-gas/how-we-help-clients/energy-solutions/contact-us"}]}}},{"mediaID":{"value":"buildingproductspodcast"},"title":{"value":"Subscribe to the \u003cem\u003eMcKinsey on Building Products\u003c/em\u003e podcast"},"description":{"value":""},"image":{"src":null,"alt":""},"moreLinks":{"jsonValue":{"value":[{"CssClass":"btn btn-fill","LinkType":"external","Target":"_blank","Text":"Apple Podcasts","Title":"","Url":"https://podcasts.apple.com/us/podcast/mckinsey-on-building-product/id1735607317"},{"CssClass":"btn btn-fill","LinkType":"external","Target":"_blank","Text":"Spotify","Title":"","Url":"https://open.spotify.com/show/79pncGJtBtzz7pFoR6OiH8"},{"CssClass":"","LinkType":"internal","Target":"","Text":"Listen to previous episodes","Title":"","Url":"/capabilities/people-and-organizational-performance/how-we-help-clients/mckinsey-academy/product-academy/mckinsey-on-building-product"}]}}},{"mediaID":{"value":"talentpodcast"},"title":{"value":"Subscribe to the \u003cem\u003eMcKinsey Talks Talent\u003c/em\u003e podcast"},"description":{"value":""},"image":{"src":null,"alt":""},"moreLinks":{"jsonValue":{"value":[{"CssClass":"btn btn-fill","LinkType":"external","Target":"_blank","Text":"Apple Podcasts","Title":"","Url":"https://podcasts.apple.com/us/podcast/mckinsey-talks-talent/id1491112396"},{"CssClass":"btn btn-fill","LinkType":"external","Target":"","Text":"Spotify","Title":"","Url":"https://open.spotify.com/show/5sW4eHEFMbOvAFJjMfN9a6"}]}}},{"mediaID":{"value":"outlook"},"title":{"value":"A longer, more comprehensive version of our Global Oil Supply \u0026 Demand Outlook is available for purchase upon request.\n"},"description":{"value":""},"image":{"src":null,"alt":""},"moreLinks":{"jsonValue":{"value":[{"CssClass":"btn btn-fill","LinkType":"internal","Target":"","Text":"Contact us","Title":"","Url":"/industries/oil-and-gas/how-we-help-clients/energy-solutions/contact-us"}]}}},{"mediaID":{"value":"talentpodcast2"},"title":{"value":"McKinsey Talks Talent Podcast"},"description":{"value":"Bryan Hancock, Brooke Weddle, and other talent experts help you navigate a fast-changing landscape and prepare for the future of work by making talent a competitive advantage."},"image":{"src":"/~/media/mckinsey/business functions/people and organizational performance/mckinsey talks talent/mck-mtt-disruptor-full-1536x864-smoke-may-2021.jpg","alt":"McKinsey Talks Talent"},"moreLinks":{"jsonValue":{"value":[{"CssClass":"","LinkType":"internal","Target":"","Text":"See more episodes","Title":"","Url":"/capabilities/people-and-organizational-performance/mckinsey-talks-talent-podcast"}]}}},{"mediaID":{"value":"investing"},"title":{"value":"Subscribe to McKinsey on Investing"},"description":{"value":""},"image":{"src":null,"alt":""},"moreLinks":{"jsonValue":{"value":[{"CssClass":"btn btn-fill","LinkType":"internal","Target":"","Text":"Learn more","Title":"","Url":"/industries/private-capital/our-insights/mckinsey-on-investing-issue-1/contact"}]}}},{"mediaID":{"value":"women matter"},"title":{"value":"Subscribe to McKinsey \u003cem\u003eWomen Matter Canada\u003c/em\u003e"},"description":{"value":"Please subscribe if your organization is interested in learning about participating in future research."},"image":{"src":null,"alt":""},"moreLinks":{"jsonValue":{"value":[{"CssClass":"btn btn-fill","LinkType":"internal","Target":"","Text":"Learn more","Title":"","Url":""}]}}},{"mediaID":{"value":"customs"},"title":{"value":"This article was written as part of a larger research effort to identify opportunities for improvement and innovation at customs agencies globally."},"description":{"value":""},"image":{"src":null,"alt":""},"moreLinks":{"jsonValue":{"value":[{"CssClass":"btn btn-fill","LinkType":"internal","Target":"","Text":"Learn more","Title":"","Url":"/industries/public-sector/our-insights/contact"}]}}},{"mediaID":{"value":"tech"},"title":{"value":"\u003cspan class=\"disrupt-ab\"\u003eCreating value beyond the hype\u003c/span\u003e"},"description":{"value":"Let\u0026rsquo;s deliver on the promise of technology from strategy to scale."},"image":{"src":"/~/media/mckinsey/business functions/mckinsey digital/how we help clients/2024/never-just-tech_thumb_1536x1536.jpg","alt":"Never just tech"},"moreLinks":{"jsonValue":{"value":[{"CssClass":"","LinkType":"external","Target":"","Text":"Get started","Title":"","Url":"https://www.mckinsey.com/capabilities/mckinsey-digital/how-we-help-clients?cid=njt-ste-crk-mbm-mbm--2403-promo01-njt-bam-web"}]}}},{"mediaID":{"value":"sust"},"title":{"value":"\u003cspan class=\"disrupt-ab\"\u003eMove from plans to progress.\u003c/span\u003e"},"description":{"value":"Sustainability matters. Together we’ll make it real."},"image":{"src":"/~/media/mckinsey/business functions/sustainability/how we help clients/sustainability-campaign_promo-thumb_1536x1536.jpg","alt":"Move from plans to progress."},"moreLinks":{"jsonValue":{"value":[{"CssClass":"","LinkType":"external","Target":"","Text":"Get started","Title":"","Url":"https://www.mckinsey.com/capabilities/sustainability/how-we-help-clients/?cid=susti24-ste-crk-mbm-m01-other-glb-web"}]}}},{"mediaID":{"value":"nwowpodcast"},"title":{"value":"Subscribe to the New World of Work podcast"},"description":{"value":""},"image":{"src":null,"alt":""},"moreLinks":{"jsonValue":{"value":[{"CssClass":"btn btn-fill","LinkType":"external","Target":"_blank","Text":"Apple Podcasts","Title":"","Url":"https://itunes.apple.com/us/podcast/the-new-world-of-work/id1319502839?mt=2"},{"CssClass":"btn btn-fill","LinkType":"external","Target":"","Text":"Spotify","Title":"","Url":"https://open.spotify.com/show/3S6fHLW6mcbDJDp1wkArKI"}]}}},{"mediaID":{"value":"globalpodcast"},"title":{"value":"Want to subscribe to \u003cem\u003eThe McKinsey Podcast\u003c/em\u003e?"},"description":{"value":""},"image":{"src":null,"alt":""},"moreLinks":{"jsonValue":{"value":[{"CssClass":"btn btn-fill","LinkType":"external","Target":"_blank","Text":"Apple Podcasts","Title":"","Url":"https://itunes.apple.com/us/podcast/the-mckinsey-podcast/id285260960?mt=2"},{"CssClass":"btn btn-fill","LinkType":"external","Target":"","Text":"Spotify","Title":"","Url":"https://open.spotify.com/show/4dyjRTP9xzEUPgleo6XjXI"},{"CssClass":"btn btn-fill","LinkType":"external","Target":"_blank","Text":"YouTube","Title":"","Url":"https://www.youtube.com/@McKinsey/podcasts"},{"CssClass":"","LinkType":"internal","Target":"","Text":"Listen to previous episodes","Title":"","Url":"/featured-insights/mckinsey-podcast"}]}}},{"mediaID":{"value":"Qaudio"},"title":{"value":"Discover and subscribe to McKinsey Quarterly Audio"},"description":{"value":"\u003cstrong\u003eFive ways to subscribe:\u003c/strong\u003e"},"image":{"src":null,"alt":""},"moreLinks":{"jsonValue":{"value":[{"CssClass":"btn btn-fill","LinkType":"external","Target":"_blank","Text":"Apple Podcasts","Title":"","Url":"https://itunes.apple.com/us/podcast/mckinsey-quarterly-audio/id1437925222?mt=2"},{"CssClass":"btn btn-fill","LinkType":"external","Target":"","Text":"Spotify","Title":"","Url":"https://open.spotify.com/show/5mb2zYJnrPcRrML8gx5doD"}]}}},{"mediaID":{"value":"shortlist"},"title":{"value":"Subscribe to the Shortlist"},"description":{"value":"McKinsey\u0026rsquo;s new weekly newsletter, featuring must-read content on a range of topics, every Friday"},"image":{"src":"/~/media/mckinsey/email/shortlist/template/shortlist_promo-interrupter-849120982_1536x1536.jpg","alt":"the Shortlist"},"moreLinks":{"jsonValue":{"value":[{"CssClass":"","LinkType":"internal","Target":"","Text":"Get the Shortlist in your inbox","Title":"","Url":"/user-registration/manage-account/edit-subscriptions"}]}}},{"mediaID":{"value":"retailpodcast"},"title":{"value":"Subscribe to the \u003cem\u003eMcKinsey on Consumer and Retail\u003c/em\u003e podcast"},"description":{"value":""},"image":{"src":null,"alt":""},"moreLinks":{"jsonValue":{"value":[{"CssClass":"btn btn-fill","LinkType":"external","Target":"_blank","Text":"Apple Podcasts","Title":"","Url":"https://podcasts.apple.com/us/podcast/mckinsey-on-consumer-and-retail/id1526250428"},{"CssClass":"btn btn-fill","LinkType":"external","Target":"_blank","Text":"Spotify","Title":"","Url":"https://open.spotify.com/show/41D4bro8PPDOGhEgOEJyHB?si=7l3SeYCZQD-7v3toqd9fHQ"}]}}},{"mediaID":{"value":"insurancepodcast"},"title":{"value":"Want to subscribe to the \u003cem\u003eMcKinsey on Insurance\u003c/em\u003e podcast?"},"description":{"value":""},"image":{"src":null,"alt":""},"moreLinks":{"jsonValue":{"value":[{"CssClass":"btn btn-fill","LinkType":"external","Target":"_blank","Text":"Apple Podcasts","Title":"","Url":"https://podcasts.apple.com/us/podcast/mckinsey-on-insurance/id1533196359"},{"CssClass":"btn btn-fill","LinkType":"external","Target":"_blank","Text":"Spotify","Title":"","Url":"https://open.spotify.com/show/5gZ6YKF7n7C9zWaER4mFZ5"}]}}},{"mediaID":{"value":"strategypodcast"},"title":{"value":"Subscribe to the \u003cem\u003eInside the Strategy Room\u003c/em\u003e podcast"},"description":{"value":""},"image":{"src":null,"alt":""},"moreLinks":{"jsonValue":{"value":[{"CssClass":"btn btn-fill","LinkType":"external","Target":"_blank","Text":"Apple Podcasts","Title":"","Url":"https://itunes.apple.com/us/podcast/inside-the-strategy-room/id1422814215?mt=2"},{"CssClass":"btn btn-fill","LinkType":"external","Target":"","Text":"Spotify","Title":"","Url":"https://open.spotify.com/show/4TcFfiQ0e6OYuc5kRDLxqj"}]}}},{"mediaID":{"value":"mgipodcast"},"title":{"value":"Subscribe to the \u003cem\u003eForward Thinking\u003c/em\u003e podcast"},"description":{"value":""},"image":{"src":null,"alt":""},"moreLinks":{"jsonValue":{"value":[{"CssClass":"btn btn-fill","LinkType":"external","Target":"_blank","Text":"Apple Podcasts","Title":"","Url":"https://podcasts.apple.com/us/podcast/forward-thinking/id1319502839"},{"CssClass":"btn btn-fill","LinkType":"external","Target":"_blank","Text":"Spotify","Title":"","Url":"https://open.spotify.com/show/3S6fHLW6mcbDJDp1wkArKI?si=0zvPmiCsQ7SBAPanfpY4aA\u0026nd=1"},{"CssClass":"","LinkType":"internal","Target":"","Text":"Listen to previous episodes","Title":"","Url":"/mgi/forward-thinking"}]}}}]},"globalDisruptors":{"disruptor1up":{"results":[{"mediaID":{"value":"cop"},"title":{"value":"Explore COP29 with McKinsey"},"description":{"value":"Join our series of dynamic virtual events during COP29. Discover new research, practical strategies, and collaborations across sectors to move climate action beyond why to how."},"image":{"src":"/~/media/mckinsey/business functions/sustainability/how we help clients/cop/cop29/cop_29_thumb.jpg","alt":"McKinsey at COP29"},"moreLinks":{"jsonValue":{"value":[{"CssClass":"","LinkType":"external","Target":"","Text":"Register","Title":"","Url":"https://mckinsey.cventevents.com/Q2MVE1?rt=RrQJ1iBSfEiqSK7N9VAGCw\u0026RefId=cop"}]}}},{"mediaID":{"value":"attheedge"},"title":{"value":"Subscribe to the \u003cem\u003eAt the Edge\u003c/em\u003e podcast"},"description":{"value":""},"image":{"src":null,"alt":""},"moreLinks":{"jsonValue":{"value":[{"CssClass":"btn btn-fill","LinkType":"external","Target":"","Text":"Apple Podcasts","Title":"","Url":"https://podcasts.apple.com/us/podcast/at-the-edge/id1612870236"},{"CssClass":"btn btn-fill","LinkType":"external","Target":"","Text":"Spotify","Title":"","Url":"https://open.spotify.com/show/3SnUcezwM20nKnzqvUl6iF"}]}}},{"mediaID":{"value":"authortalks"},"title":{"value":"Visit \u003cem\u003e\u003ca href=\"/featured-insights/mckinsey-on-books/author-talks\"\u003eAuthor Talks\u003c/a\u003e\u003c/em\u003e to see the full series."},"description":{"value":""},"image":{"src":"/~/media/mckinsey/featured insights/mckinsey books/author talks/authortalks_1536x1536_v1.png","alt":"Author Talks"},"moreLinks":{"jsonValue":{"value":[{"CssClass":"","LinkType":"internal","Target":"","Text":"Learn more","Title":"","Url":"/featured-insights/mckinsey-on-books/author-talks"}]}}},{"mediaID":{"value":"COVID"},"title":{"value":"Explore McKinsey’s ongoing coverage of the pandemic"},"description":{"value":""},"image":{"src":"/~/media/mckinsey/business functions/risk/our insights/covid 19 implications for business/implications-briefing-note-4-standard-1536x1536.jpg","alt":"COVID-19: Implications for business"},"moreLinks":{"jsonValue":{"value":[{"CssClass":"","LinkType":"internal","Target":"","Text":"Read more about the business impact of coronavirus and how organizations can respond","Title":"","Url":"/featured-insights/coronavirus-leading-through-the-crisis"}]}}},{"mediaID":{"value":"CE"},"title":{"value":"Customer experience"},"description":{"value":"More insight into creating competitive advantage by putting customers first and managing their journeys."},"image":{"src":"/~/media/mckinsey/industries/public and social sector/our insights/customer experience/customer-experience_22934010_1536x864.jpg","alt":"Customer experience"},"moreLinks":{"jsonValue":{"value":[{"CssClass":"","LinkType":"internal","Target":"","Text":"Learn more","Title":"","Url":""}]}}},{"mediaID":{"value":"driversofdisruption"},"title":{"value":"Want to subscribe to \u003ca href=\"/features/mckinsey-center-for-future-mobility/our-insights/drivers-of-disruption\"\u003e\u003cem\u003eDrivers of Disruption\u003c/em\u003e\u003c/a\u003e?"},"description":{"value":""},"image":{"src":null,"alt":""},"moreLinks":{"jsonValue":{"value":[{"CssClass":"btn btn-fill","LinkType":"external","Target":"","Text":"Apple Podcasts","Title":"","Url":"https://podcasts.apple.com/us/podcast/drivers-of-disruption/id1687257324"},{"CssClass":"btn btn-fill","LinkType":"external","Target":"","Text":"Spotify","Title":"","Url":"https://open.spotify.com/show/5fWXzWmVKacc5I7u9CQsah?si=KQ-wUOSyQlqcnfexExiH9Q\u0026nd=1"}]}}},{"mediaID":{"value":"JOL"},"title":{"value":"The Journey of Leadership"},"description":{"value":"\u003cstrong\u003eHow CEOs Learn to Lead from the Inside Out\u003c/strong\u003e\u003cbr /\u003e\nBy \u003ca href=\"/our-people/dana-maor\"\u003eDana Maor\u003c/a\u003e, \u003ca href=\"https://www.linkedin.com/in/hanswernerkaas\"\u003eHans-Werner Kaas\u003c/a\u003e, \u003ca href=\"/our-people/kurt-strovink\"\u003eKurt Strovink\u003c/a\u003e, and \u003ca href=\"/our-people/ramesh-srinivasan\"\u003eRamesh Srinivasan\u003c/a\u003e"},"image":{"src":"/~/media/mckinsey/featured insights/mckinsey books/journey of leadership/journey-of-leadership-book-cover-1536x1536.jpg","alt":"The Journey of Leadership book cover"},"moreLinks":{"jsonValue":{"value":[{"CssClass":"","LinkType":"internal","Target":"","Text":"Learn more","Title":"","Url":"/featured-insights/mckinsey-on-books/journey-of-leadership"}]}}},{"mediaID":{"value":"surveys"},"title":{"value":"McKinsey\u0026rsquo;s original survey research"},"description":{"value":""},"image":{"src":"/~/media/mckinsey/featured insights/mckinsey global surveys/mck-global-survey-landing-1284442931-thumb-1536x1536.jpg","alt":"McKinsey Global Surveys"},"moreLinks":{"jsonValue":{"value":[{"CssClass":"","LinkType":"internal","Target":"","Text":"Read more","Title":"","Url":"/featured-insights/mckinsey-global-surveys"}]}}},{"mediaID":{"value":"healthcarepodcast"},"title":{"value":"Want to subscribe to \u003cem\u003eMcKinsey on Healthcare\u003c/em\u003e?"},"description":{"value":""},"image":{"src":null,"alt":""},"moreLinks":{"jsonValue":{"value":[{"CssClass":"btn btn-fill","LinkType":"external","Target":"","Text":"Apple Podcasts","Title":"","Url":"https://podcasts.apple.com/us/podcast/mckinsey-on-healthcare/id1469979748"},{"CssClass":"btn btn-fill","LinkType":"external","Target":"","Text":"Spotify","Title":"","Url":"https://open.spotify.com/show/3y1AgAilV4E5Jz0x4wD9O2?si=mLCTUQ2ORTS_LC5gW_htlA\u0026dl_branch=1"}]}}},{"mediaID":{"value":"myleadershipjourney"},"title":{"value":"My Leadership Journey"},"description":{"value":"A series of conversations with leaders about the people and experiences that shaped them"},"image":{"src":"/~/media/mckinsey/business functions/people and organizational performance/our insights/my leadership journey/my leadership journey collection page_131575496_thumb_1536x1536.jpg","alt":"My Leadership Journey"},"moreLinks":{"jsonValue":{"value":[{"CssClass":"","LinkType":"internal","Target":"","Text":"Learn more","Title":"","Url":"/capabilities/people-and-organizational-performance/our-insights/my-leadership-journey"}]}}},{"mediaID":{"value":"lessonsfromleaders"},"title":{"value":"State of Organizations: Lessons from leaders"},"description":{"value":""},"image":{"src":"/~/media/mckinsey/business functions/people and organizational performance/our insights/state of org lessons from leaders/soo-chapter-2-872507320-standard-1536x1536.jpg","alt":"\"\""},"moreLinks":{"jsonValue":{"value":[{"CssClass":"","LinkType":"internal","Target":"","Text":"Explore more interviews","Title":"","Url":"/capabilities/people-and-organizational-performance/our-insights/lessons-from-leaders"}]}}},{"mediaID":{"value":"stateoforg"},"title":{"value":"The State of Organizations 2023"},"description":{"value":""},"image":{"src":null,"alt":""},"moreLinks":{"jsonValue":{"value":[{"CssClass":"","LinkType":"internal","Target":"","Text":"Report overview","Title":"","Url":"/capabilities/people-and-organizational-performance/our-insights/the-state-of-organizations-2023"}]}}},{"mediaID":{"value":"titaniumeconomy"},"title":{"value":"The Titanium Economy"},"description":{"value":"How Industrial Technology Can Create a Better, Faster, Stronger America\u003cbr /\u003e\nBy \u003ca href=\"/our-people/asutosh-padhi\"\u003eAsutosh Padhi\u003c/a\u003e, Gaurav Batra, and \u003ca href=\"https://fernweh.com/nick-santhanam/\"\u003eNick Santhanam\u003c/a\u003e"},"image":{"src":"/~/media/mckinsey/featured insights/mckinsey books/the titanium economy/titanium_3d-1536x1536-hero-trans.png","alt":"The Titanium Economy Book cover"},"moreLinks":{"jsonValue":{"value":[{"CssClass":"","LinkType":"internal","Target":"","Text":"Learn more","Title":"","Url":"/featured-insights/mckinsey-on-books/the-titanium-economy"}]}}},{"mediaID":{"value":"GII"},"title":{"value":"Global Infrastructure Initiative"},"description":{"value":"Convening global leaders in infrastructure and capital projects in pursuit of new solutions"},"image":{"src":"/~/media/mckinsey/business functions/operations/our insights/the global infrastructure initiative/jpg-cpi-improving-construction-productivity-1536x864.jpg","alt":"Improving construction productivity"},"moreLinks":{"jsonValue":{"value":[{"CssClass":"","LinkType":"external","Target":"","Text":"Learn more","Title":"","Url":"http://www.globalinfrastructureinitiative.com/"}]}}},{"mediaID":{"value":"FOApodcast"},"title":{"value":"Subscribe to \u003ca href=\"/featured-insights/future-of-asia/future-of-asia-podcasts\"\u003e\u003cem\u003eFuture of Asia Podcasts\u003c/em\u003e\u003c/a\u003e"},"description":{"value":""},"image":{"src":null,"alt":""},"moreLinks":{"jsonValue":{"value":[{"CssClass":"btn btn-fill","LinkType":"external","Target":"","Text":"Apple Podcasts","Title":"","Url":"https://podcasts.apple.com/us/podcast/future-of-asia/id1480316959"},{"CssClass":"btn btn-fill","LinkType":"external","Target":"","Text":"Spotify","Title":"","Url":"https://open.spotify.com/show/2CZX4AR2DT4hQCFKJG0cCv?si=B20tkrOmQYymuCUhKCQOwA"}]}}},{"mediaID":{"value":"logisticsdisruptors"},"title":{"value":"Logistics Disruptors"},"description":{"value":"Meet the companies shaping how goods will move tomorrow."},"image":{"src":"/~/media/mckinsey/industries/travel logistics and infrastructure/our insights/logistics disruptors/tli-logistics-disruptors-1536x1536.jpeg","alt":"illustration autonomous truck driving off into the future"},"moreLinks":{"jsonValue":{"value":[{"CssClass":"","LinkType":"internal","Target":"","Text":"Learn more","Title":"","Url":"/industries/travel-logistics-and-infrastructure/our-insights/logistics-disruptors"}]}}},{"mediaID":{"value":"mckinseyexplainers"},"title":{"value":"Looking for direct answers to other complex questions?"},"description":{"value":""},"image":{"src":"/~/media/mckinsey/featured insights/mckinsey explainers/mckinseyexplainers-flat-thumb-1536x1536.jpg","alt":"Circular, white maze filled with white semicircles."},"moreLinks":{"jsonValue":{"value":[{"CssClass":"","LinkType":"internal","Target":"","Text":"Explore the full McKinsey Explainers series","Title":"","Url":"/featured-insights/mckinsey-explainers"}]}}},{"mediaID":{"value":"livesandlegacies"},"title":{"value":"\u003cem\u003e\u003ca href=\"/featured-insights/mckinsey-on-lives-and-legacies\"\u003eMcKinsey on Lives \u0026amp; Legacies\u003c/a\u003e\u003c/em\u003e"},"description":{"value":"Highlighting the lasting impact of leaders and executives"},"image":{"src":"/~/media/mckinsey/featured insights/mckinsey on lives and legacies/lives-and-legacies-landing-page-thumb-1536x1536.jpg","alt":"McKinsey on Lives \u0026 Legacies"},"moreLinks":{"jsonValue":{"value":[{"CssClass":"","LinkType":"internal","Target":"","Text":"Explore previous obituaries","Title":"","Url":"/featured-insights/mckinsey-on-lives-and-legacies"}]}}},{"mediaID":{"value":"Strategy"},"title":{"value":"Strategy in a digital age"},"description":{"value":"Our series on developing corporate and business-unit strategies in a digitally disrupted world."},"image":{"src":"/~/media/mckinsey/business functions/mckinsey digital/our insights/strategy in a digital age/digital-strategy_1536x864_flexpromoimage.jpg","alt":""},"moreLinks":{"jsonValue":{"value":[{"CssClass":"","LinkType":"internal","Target":"","Text":"View the collection","Title":"","Url":"/featured-insights/strategy-in-a-digital-age"}]}}},{"mediaID":{"value":"great"},"title":{"value":"The great re-make: Manufacturing for modern times"},"description":{"value":"This 21-article compendium gives practical insights for manufacturing leaders looking to keep a step ahead of today\u0026rsquo;s disruptions."},"image":{"src":"/~/media/mckinsey/business functions/operations/our insights/the great remake manufacturing for modern times/jpg-ops-dm-compendium-cover-1536x864.jpg","alt":"The great re-make: Manufacturing for modern times"},"moreLinks":{"jsonValue":{"value":[{"CssClass":"","LinkType":"internal","Target":"","Text":"View the collection","Title":"","Url":"/capabilities/operations/our-insights/the-great-re-make-manufacturing-for-modern-times-compendium"}]}}},{"mediaID":{"value":"futureofamerica"},"title":{"value":"Subscribe to the \u003cem\u003eFuture of America\u003c/em\u003e podcast"},"description":{"value":""},"image":{"src":null,"alt":""},"moreLinks":{"jsonValue":{"value":[{"CssClass":"btn btn-fill","LinkType":"external","Target":"_blank","Text":"Apple Podcasts","Title":"","Url":"https://podcasts.apple.com/us/podcast/future-of-america/id1616517376"},{"CssClass":"btn btn-fill","LinkType":"external","Target":"","Text":"Spotify","Title":"","Url":"https://open.spotify.com/show/0FpeyjojJTKf2hVtQ3otah"}]}}},{"mediaID":{"value":"governmentpodcast"},"title":{"value":"Subscribe to the \u003cem\u003eMcKinsey on Government\u003c/em\u003e podcast"},"description":{"value":""},"image":{"src":null,"alt":""},"moreLinks":{"jsonValue":{"value":[{"CssClass":"btn btn-fill","LinkType":"external","Target":"_blank","Text":"Apple Podcasts","Title":"","Url":"https://podcasts.apple.com/us/podcast/mckinsey-on-government/id1573645359"},{"CssClass":"btn btn-fill","LinkType":"external","Target":"","Text":"Spotify","Title":"","Url":"https://open.spotify.com/show/61XsO4B2ersroMft8t3KSq"}]}}},{"mediaID":{"value":"podcast"},"title":{"value":"Want to subscribe to the McKinsey Podcast?\n"},"description":{"value":"\u003cdiv class=\"cta-container -align-horizontal\"\u003e\n \u003ca href=\"#\" class=\"btn btn-fill\"\u003eGoogle Play\u003c/a\u003e\n \u003ca href=\"#\" class=\"btn btn-fill\"\u003eiTunes\u003c/a\u003e\n \u003ca href=\"#\" class=\"btn btn-fill\"\u003eStitcher\u003c/a\u003e\n \u003ca href=\"#\" class=\"btn mck-rss-icon\"\u003eRSS\u003c/a\u003e\n\u003c/div\u003e"},"image":{"src":null,"alt":""},"moreLinks":{"jsonValue":{"value":[]}}},{"mediaID":{"value":"operationspodcast"},"title":{"value":"Subscribe to the \u003cem\u003eMcKinsey Talks Operations\u003c/em\u003e podcast"},"description":{"value":""},"image":{"src":null,"alt":""},"moreLinks":{"jsonValue":{"value":[{"CssClass":"btn btn-fill","LinkType":"external","Target":"_blank","Text":"Apple Podcasts","Title":"","Url":"https://podcasts.apple.com/us/podcast/mckinsey-talks-operations/id1598128813"},{"CssClass":"btn btn-fill","LinkType":"external","Target":"","Text":"Spotify","Title":"","Url":"https://open.spotify.com/show/7LYQS2fxAoBmC3LgFNJbi8"}]}}},{"mediaID":{"value":"energyinsights"},"title":{"value":"Speak to an expert about our upstream capabilities"},"description":{"value":""},"image":{"src":"/~/media/mckinsey/industries/oil and gas/how we help clients/energy insights/newsletter-signup-promo-bar-1536x768.jpg","alt":"EI newsletter sign up"},"moreLinks":{"jsonValue":{"value":[{"CssClass":"btn btn-fill","LinkType":"internal","Target":"","Text":"Contact us","Title":"","Url":"/industries/oil-and-gas/how-we-help-clients/energy-solutions/contact-us"}]}}},{"mediaID":{"value":"buildingproductspodcast"},"title":{"value":"Subscribe to the \u003cem\u003eMcKinsey on Building Products\u003c/em\u003e podcast"},"description":{"value":""},"image":{"src":null,"alt":""},"moreLinks":{"jsonValue":{"value":[{"CssClass":"btn btn-fill","LinkType":"external","Target":"_blank","Text":"Apple Podcasts","Title":"","Url":"https://podcasts.apple.com/us/podcast/mckinsey-on-building-product/id1735607317"},{"CssClass":"btn btn-fill","LinkType":"external","Target":"_blank","Text":"Spotify","Title":"","Url":"https://open.spotify.com/show/79pncGJtBtzz7pFoR6OiH8"},{"CssClass":"","LinkType":"internal","Target":"","Text":"Listen to previous episodes","Title":"","Url":"/capabilities/people-and-organizational-performance/how-we-help-clients/mckinsey-academy/product-academy/mckinsey-on-building-product"}]}}},{"mediaID":{"value":"talentpodcast"},"title":{"value":"Subscribe to the \u003cem\u003eMcKinsey Talks Talent\u003c/em\u003e podcast"},"description":{"value":""},"image":{"src":null,"alt":""},"moreLinks":{"jsonValue":{"value":[{"CssClass":"btn btn-fill","LinkType":"external","Target":"_blank","Text":"Apple Podcasts","Title":"","Url":"https://podcasts.apple.com/us/podcast/mckinsey-talks-talent/id1491112396"},{"CssClass":"btn btn-fill","LinkType":"external","Target":"","Text":"Spotify","Title":"","Url":"https://open.spotify.com/show/5sW4eHEFMbOvAFJjMfN9a6"}]}}},{"mediaID":{"value":"outlook"},"title":{"value":"A longer, more comprehensive version of our Global Oil Supply \u0026 Demand Outlook is available for purchase upon request.\n"},"description":{"value":""},"image":{"src":null,"alt":""},"moreLinks":{"jsonValue":{"value":[{"CssClass":"btn btn-fill","LinkType":"internal","Target":"","Text":"Contact us","Title":"","Url":"/industries/oil-and-gas/how-we-help-clients/energy-solutions/contact-us"}]}}},{"mediaID":{"value":"talentpodcast2"},"title":{"value":"McKinsey Talks Talent Podcast"},"description":{"value":"Bryan Hancock, Brooke Weddle, and other talent experts help you navigate a fast-changing landscape and prepare for the future of work by making talent a competitive advantage."},"image":{"src":"/~/media/mckinsey/business functions/people and organizational performance/mckinsey talks talent/mck-mtt-disruptor-full-1536x864-smoke-may-2021.jpg","alt":"McKinsey Talks Talent"},"moreLinks":{"jsonValue":{"value":[{"CssClass":"","LinkType":"internal","Target":"","Text":"See more episodes","Title":"","Url":"/capabilities/people-and-organizational-performance/mckinsey-talks-talent-podcast"}]}}},{"mediaID":{"value":"investing"},"title":{"value":"Subscribe to McKinsey on Investing"},"description":{"value":""},"image":{"src":null,"alt":""},"moreLinks":{"jsonValue":{"value":[{"CssClass":"btn btn-fill","LinkType":"internal","Target":"","Text":"Learn more","Title":"","Url":"/industries/private-capital/our-insights/mckinsey-on-investing-issue-1/contact"}]}}},{"mediaID":{"value":"women matter"},"title":{"value":"Subscribe to McKinsey \u003cem\u003eWomen Matter Canada\u003c/em\u003e"},"description":{"value":"Please subscribe if your organization is interested in learning about participating in future research."},"image":{"src":null,"alt":""},"moreLinks":{"jsonValue":{"value":[{"CssClass":"btn btn-fill","LinkType":"internal","Target":"","Text":"Learn more","Title":"","Url":""}]}}},{"mediaID":{"value":"customs"},"title":{"value":"This article was written as part of a larger research effort to identify opportunities for improvement and innovation at customs agencies globally."},"description":{"value":""},"image":{"src":null,"alt":""},"moreLinks":{"jsonValue":{"value":[{"CssClass":"btn btn-fill","LinkType":"internal","Target":"","Text":"Learn more","Title":"","Url":"/industries/public-sector/our-insights/contact"}]}}},{"mediaID":{"value":"tech"},"title":{"value":"\u003cspan class=\"disrupt-ab\"\u003eCreating value beyond the hype\u003c/span\u003e"},"description":{"value":"Let\u0026rsquo;s deliver on the promise of technology from strategy to scale."},"image":{"src":"/~/media/mckinsey/business functions/mckinsey digital/how we help clients/2024/never-just-tech_thumb_1536x1536.jpg","alt":"Never just tech"},"moreLinks":{"jsonValue":{"value":[{"CssClass":"","LinkType":"external","Target":"","Text":"Get started","Title":"","Url":"https://www.mckinsey.com/capabilities/mckinsey-digital/how-we-help-clients?cid=njt-ste-crk-mbm-mbm--2403-promo01-njt-bam-web"}]}}},{"mediaID":{"value":"sust"},"title":{"value":"\u003cspan class=\"disrupt-ab\"\u003eMove from plans to progress.\u003c/span\u003e"},"description":{"value":"Sustainability matters. Together we’ll make it real."},"image":{"src":"/~/media/mckinsey/business functions/sustainability/how we help clients/sustainability-campaign_promo-thumb_1536x1536.jpg","alt":"Move from plans to progress."},"moreLinks":{"jsonValue":{"value":[{"CssClass":"","LinkType":"external","Target":"","Text":"Get started","Title":"","Url":"https://www.mckinsey.com/capabilities/sustainability/how-we-help-clients/?cid=susti24-ste-crk-mbm-m01-other-glb-web"}]}}},{"mediaID":{"value":"nwowpodcast"},"title":{"value":"Subscribe to the New World of Work podcast"},"description":{"value":""},"image":{"src":null,"alt":""},"moreLinks":{"jsonValue":{"value":[{"CssClass":"btn btn-fill","LinkType":"external","Target":"_blank","Text":"Apple Podcasts","Title":"","Url":"https://itunes.apple.com/us/podcast/the-new-world-of-work/id1319502839?mt=2"},{"CssClass":"btn btn-fill","LinkType":"external","Target":"","Text":"Spotify","Title":"","Url":"https://open.spotify.com/show/3S6fHLW6mcbDJDp1wkArKI"}]}}},{"mediaID":{"value":"globalpodcast"},"title":{"value":"Want to subscribe to \u003cem\u003eThe McKinsey Podcast\u003c/em\u003e?"},"description":{"value":""},"image":{"src":null,"alt":""},"moreLinks":{"jsonValue":{"value":[{"CssClass":"btn btn-fill","LinkType":"external","Target":"_blank","Text":"Apple Podcasts","Title":"","Url":"https://itunes.apple.com/us/podcast/the-mckinsey-podcast/id285260960?mt=2"},{"CssClass":"btn btn-fill","LinkType":"external","Target":"","Text":"Spotify","Title":"","Url":"https://open.spotify.com/show/4dyjRTP9xzEUPgleo6XjXI"},{"CssClass":"btn btn-fill","LinkType":"external","Target":"_blank","Text":"YouTube","Title":"","Url":"https://www.youtube.com/@McKinsey/podcasts"},{"CssClass":"","LinkType":"internal","Target":"","Text":"Listen to previous episodes","Title":"","Url":"/featured-insights/mckinsey-podcast"}]}}},{"mediaID":{"value":"Qaudio"},"title":{"value":"Discover and subscribe to McKinsey Quarterly Audio"},"description":{"value":"\u003cstrong\u003eFive ways to subscribe:\u003c/strong\u003e"},"image":{"src":null,"alt":""},"moreLinks":{"jsonValue":{"value":[{"CssClass":"btn btn-fill","LinkType":"external","Target":"_blank","Text":"Apple Podcasts","Title":"","Url":"https://itunes.apple.com/us/podcast/mckinsey-quarterly-audio/id1437925222?mt=2"},{"CssClass":"btn btn-fill","LinkType":"external","Target":"","Text":"Spotify","Title":"","Url":"https://open.spotify.com/show/5mb2zYJnrPcRrML8gx5doD"}]}}},{"mediaID":{"value":"shortlist"},"title":{"value":"Subscribe to the Shortlist"},"description":{"value":"McKinsey\u0026rsquo;s new weekly newsletter, featuring must-read content on a range of topics, every Friday"},"image":{"src":"/~/media/mckinsey/email/shortlist/template/shortlist_promo-interrupter-849120982_1536x1536.jpg","alt":"the Shortlist"},"moreLinks":{"jsonValue":{"value":[{"CssClass":"","LinkType":"internal","Target":"","Text":"Get the Shortlist in your inbox","Title":"","Url":"/user-registration/manage-account/edit-subscriptions"}]}}},{"mediaID":{"value":"retailpodcast"},"title":{"value":"Subscribe to the \u003cem\u003eMcKinsey on Consumer and Retail\u003c/em\u003e podcast"},"description":{"value":""},"image":{"src":null,"alt":""},"moreLinks":{"jsonValue":{"value":[{"CssClass":"btn btn-fill","LinkType":"external","Target":"_blank","Text":"Apple Podcasts","Title":"","Url":"https://podcasts.apple.com/us/podcast/mckinsey-on-consumer-and-retail/id1526250428"},{"CssClass":"btn btn-fill","LinkType":"external","Target":"_blank","Text":"Spotify","Title":"","Url":"https://open.spotify.com/show/41D4bro8PPDOGhEgOEJyHB?si=7l3SeYCZQD-7v3toqd9fHQ"}]}}},{"mediaID":{"value":"insurancepodcast"},"title":{"value":"Want to subscribe to the \u003cem\u003eMcKinsey on Insurance\u003c/em\u003e podcast?"},"description":{"value":""},"image":{"src":null,"alt":""},"moreLinks":{"jsonValue":{"value":[{"CssClass":"btn btn-fill","LinkType":"external","Target":"_blank","Text":"Apple Podcasts","Title":"","Url":"https://podcasts.apple.com/us/podcast/mckinsey-on-insurance/id1533196359"},{"CssClass":"btn btn-fill","LinkType":"external","Target":"_blank","Text":"Spotify","Title":"","Url":"https://open.spotify.com/show/5gZ6YKF7n7C9zWaER4mFZ5"}]}}},{"mediaID":{"value":"strategypodcast"},"title":{"value":"Subscribe to the \u003cem\u003eInside the Strategy Room\u003c/em\u003e podcast"},"description":{"value":""},"image":{"src":null,"alt":""},"moreLinks":{"jsonValue":{"value":[{"CssClass":"btn btn-fill","LinkType":"external","Target":"_blank","Text":"Apple Podcasts","Title":"","Url":"https://itunes.apple.com/us/podcast/inside-the-strategy-room/id1422814215?mt=2"},{"CssClass":"btn btn-fill","LinkType":"external","Target":"","Text":"Spotify","Title":"","Url":"https://open.spotify.com/show/4TcFfiQ0e6OYuc5kRDLxqj"}]}}},{"mediaID":{"value":"mgipodcast"},"title":{"value":"Subscribe to the \u003cem\u003eForward Thinking\u003c/em\u003e podcast"},"description":{"value":""},"image":{"src":null,"alt":""},"moreLinks":{"jsonValue":{"value":[{"CssClass":"btn btn-fill","LinkType":"external","Target":"_blank","Text":"Apple Podcasts","Title":"","Url":"https://podcasts.apple.com/us/podcast/forward-thinking/id1319502839"},{"CssClass":"btn btn-fill","LinkType":"external","Target":"_blank","Text":"Spotify","Title":"","Url":"https://open.spotify.com/show/3S6fHLW6mcbDJDp1wkArKI?si=0zvPmiCsQ7SBAPanfpY4aA\u0026nd=1"},{"CssClass":"","LinkType":"internal","Target":"","Text":"Listen to previous episodes","Title":"","Url":"/mgi/forward-thinking"}]}}}]},"disruptorsignup":{"results":[{"mediaID":{"value":"full-width"},"renderMode":{"targetItem":{"key":{"value":"fullwidth"},"value":{"value":"Full Width"}}},"callToAction":{"url":"/user-registration/register-mvc","text":"Subscribe"},"title":{"jsonValue":{"value":"Stay current on your favorite topics"}}},{"mediaID":{"value":"left"},"renderMode":{"targetItem":{"key":{"value":"left"},"value":{"value":"Left"}}},"callToAction":{"url":"/user-registration/register-mvc","text":"Subscribe"},"title":{"jsonValue":{"value":"Stay current on your favorite topics"}}}]}},"ceros":{"results":[{"description":{"jsonValue":{"value":""}},"displayNumber":{"value":""},"desktopOverrideHeight":{"value":""},"desktopPaddingPercentage":{"value":"90.17"},"desktopURL":{"value":"//view.ceros.com/mckinsey/mgi-corporations-ex5"},"hideMediaDividerLine":{"boolValue":false},"hideMediaEyebrow":{"boolValue":false},"mediaEyebrow":{"jsonValue":{"value":"Interactive"}},"desktopID":{"value":"experience-60ae6d77920f2"},"headline":{"jsonValue":{"value":""}},"cerosOembedURL":{"value":""},"renderMode":{"targetItem":{"key":{"value":"Center"},"value":{"value":"Center"}}},"mediaID":{"value":"5"},"mobileID":{"value":"experience-60ae6d77920f2"},"mobileOverrideHeight":{"value":""},"mobilePaddingPercentage":{"value":"90.17"},"mobileURL":{"value":"//view.ceros.com/mckinsey/mgi-corporations-ex5"},"template":{"name":"Ceros"}}]},"exhibit":{"results":[{"id":"C08F829B93394C9EA07557929B8AB2EE","displayName":"Exhibit 1","mediaID":{"value":"1"},"includeTheAccessibilityDisclaimerText":{"boolValue":true},"headline":{"jsonValue":{"value":""}},"hideBottomBorder":{"boolValue":false},"hideEyebrow":{"boolValue":false},"eyebrow":{"jsonValue":{"value":""}},"displayNumber":{"value":"1"},"description":{"jsonValue":{"value":""}},"desktopImage":{"alt":"Business contribution to economy","src":"/~/media/mckinsey/business functions/strategy and corporate finance/our insights/a new look at how corporations impact the economy and households/svgz-mgi-corporations_ex1.svgz","description":""},"mobileImage":{"alt":"","src":null},"renderMode":{"targetItem":{"key":{"value":"Medium content column width"},"value":{"value":"medium"}}},"flourishDataVisualizationID":{"value":""},"pNGImage":{"src":"/~/media/mckinsey/business functions/strategy and corporate finance/our insights/a new look at how corporations impact the economy and households/png-mgi-corporations_ex1.png","alt":"Business contribution to economy"},"height":{"value":"1377"},"width":{"value":"1536 "},"mobileSVGImage":{"src":null,"alt":""},"mobilePNGImage":{"src":null,"alt":""}},{"id":"7B22E3CAA57249A1A330FD54284E3E51","displayName":"Exhibit 2","mediaID":{"value":"2"},"includeTheAccessibilityDisclaimerText":{"boolValue":true},"headline":{"jsonValue":{"value":""}},"hideBottomBorder":{"boolValue":false},"hideEyebrow":{"boolValue":false},"eyebrow":{"jsonValue":{"value":""}},"displayNumber":{"value":"2"},"description":{"jsonValue":{"value":""}},"desktopImage":{"alt":"Corporate economic gains","src":"/~/media/mckinsey/business functions/strategy and corporate finance/our insights/a new look at how corporations impact the economy and households/svgz-mgi-corporations_ex2.svgz","description":""},"mobileImage":{"alt":"","src":null},"renderMode":{"targetItem":{"key":{"value":"Medium content column width"},"value":{"value":"medium"}}},"flourishDataVisualizationID":{"value":""},"pNGImage":{"src":"/~/media/mckinsey/business functions/strategy and corporate finance/our insights/a new look at how corporations impact the economy and households/png-mgi-corporations_ex2.png","alt":"Corporate economic gains"},"height":{"value":"2398"},"width":{"value":"1536 "},"mobileSVGImage":{"src":null,"alt":""},"mobilePNGImage":{"src":null,"alt":""}},{"id":"EA2513136FDF45EDBF96878C26E9096B","displayName":"Exhibit 3","mediaID":{"value":"3"},"includeTheAccessibilityDisclaimerText":{"boolValue":true},"headline":{"jsonValue":{"value":""}},"hideBottomBorder":{"boolValue":false},"hideEyebrow":{"boolValue":false},"eyebrow":{"jsonValue":{"value":""}},"displayNumber":{"value":"3"},"description":{"jsonValue":{"value":""}},"desktopImage":{"alt":"The share of total revenue of each archetype differs as viewed by country.","src":"/~/media/mckinsey/business functions/strategy and corporate finance/our insights/a new look at how corporations impact the economy and households/svgz-mgi-corporations_ex3-rev.svgz","description":""},"mobileImage":{"alt":"","src":null},"renderMode":{"targetItem":{"key":{"value":"Medium content column width"},"value":{"value":"medium"}}},"flourishDataVisualizationID":{"value":""},"pNGImage":{"src":"/~/media/mckinsey/business functions/strategy and corporate finance/our insights/a new look at how corporations impact the economy and households/png-mgi-corporations_ex3-rev.png","alt":"The share of total revenue of each archetype differs as viewed by country."},"height":{"value":"2088"},"width":{"value":"1536"},"mobileSVGImage":{"src":null,"alt":""},"mobilePNGImage":{"src":null,"alt":""}},{"id":"080B3B41DE9745D883BEBB84066C6E34","displayName":"Exhibit 4","mediaID":{"value":"4"},"includeTheAccessibilityDisclaimerText":{"boolValue":true},"headline":{"jsonValue":{"value":""}},"hideBottomBorder":{"boolValue":false},"hideEyebrow":{"boolValue":false},"eyebrow":{"jsonValue":{"value":""}},"displayNumber":{"value":"4"},"description":{"jsonValue":{"value":""}},"desktopImage":{"alt":"Pathway shifts","src":"/~/media/mckinsey/business functions/strategy and corporate finance/our insights/a new look at how corporations impact the economy and households/svgz-mgi-corporations_ex4.svgz","description":""},"mobileImage":{"alt":"","src":null},"renderMode":{"targetItem":{"key":{"value":"Medium content column width"},"value":{"value":"medium"}}},"flourishDataVisualizationID":{"value":""},"pNGImage":{"src":"/~/media/mckinsey/business functions/strategy and corporate finance/our insights/a new look at how corporations impact the economy and households/png-mgi-corporations_ex4.png","alt":"Pathway shifts"},"height":{"value":"1689"},"width":{"value":"1536"},"mobileSVGImage":{"src":null,"alt":""},"mobilePNGImage":{"src":null,"alt":""}}]},"image":{"results":[]},"exhibitcarousel":{"results":[]},"pullquote":{"results":[]},"disruptorsignup":{"results":[{"mediaID":{"value":"full-width"},"renderMode":{"targetItem":{"key":{"value":"fullwidth"},"value":{"value":"Full Width"}}},"callToAction":{"url":"/user-registration/register-mvc","text":"Subscribe"},"title":{"jsonValue":{"value":"Stay current on your favorite topics"}}},{"mediaID":{"value":"left"},"renderMode":{"targetItem":{"key":{"value":"left"},"value":{"value":"Left"}}},"callToAction":{"url":"/user-registration/register-mvc","text":"Subscribe"},"title":{"jsonValue":{"value":"Stay current on your favorite topics"}}}]},"articlesidebar":{"results":[]},"boxout":{"results":[]},"globalsidebar":{"results":[]},"video":{"results":[]},"scrollycontainer":{"results":[]},"bespokeinteractive":{"results":[]},"storycontainer":{"results":[]},"interactive":{"results":[]},"sectionheader":{"results":[]},"statementdisruptor":{"results":[]},"fullbleedphoto":{"results":[]},"tocitem":{"results":[]},"quizcontainer":{"results":[]},"generalup":{"results":[]},"twoupmedium":{"results":[]},"accordion":{"results":[]},"factoid":{"results":[]},"promobarwithquote":{"results":[]},"oneupmedium":{"results":[]},"oneupmediumquote":{"results":[]},"gridwall":{"results":[]},"twoupsmall":{"results":[]},"oneclicksubscribe":{"results":[]},"promobar":{"results":[]},"promobanner":{"results":[]},"sectionhero":{"results":[]},"threeuplinklist":{"results":[]},"table":{"results":[]},"explainertooltip":{"results":[]},"isFiveFiftyHorizontalArticle":{"boolValue":false},"fiveFifty":{"results":[]}},"contextItem":{"ancestors":[{"breadCrumbUrl":{"path":"/capabilities/strategy-and-corporate-finance/our-insights"},"breadCrumbTitle":{"value":"Our Insights"},"isMiniSite":{"boolValue":false},"displayName":"Strategy \u0026 Corporate Finance Insights","template":{"id":"85FF05307883480F9A4C82123F72FFD8"}},{"breadCrumbUrl":{"path":"/capabilities/strategy-and-corporate-finance/how-we-help-clients"},"breadCrumbTitle":null,"isMiniSite":{"boolValue":true},"displayName":"Strategy \u0026 Corporate Finance","template":{"id":"414C6C64AD35440E9668CF39D8A18CCF"}},{"breadCrumbUrl":{"path":"/capabilities"},"breadCrumbTitle":{"value":"Capabilities"},"isMiniSite":{"boolValue":false},"displayName":"Capabilities","template":{"id":"85FF05307883480F9A4C82123F72FFD8"}},{"breadCrumbUrl":{"path":"/"},"breadCrumbTitle":{"value":""},"isMiniSite":{"boolValue":false},"displayName":"Home","template":{"id":"85FF05307883480F9A4C82123F72FFD8"}}]}}},"placeholders":{"main-area":[],"sidebar-area":[]}}]}},"itemId":"9d89d71f-65a8-454c-b6b3-3aa50de2da38","pageEditing":false,"site":{"name":"website"},"pageState":"normal","language":"en","pageMetaData":{"alternateLanguages":[{"languageCode":"en","displayName":"English","url":"/capabilities/strategy-and-corporate-finance/our-insights/a-new-look-at-how-corporations-impact-the-economy-and-households"}],"currentLanguage":"en","navigationLink":"capabilities","activeItemId":"{6FC6FF30-E964-4D27-94F0-A71008220644}","miniSiteId":"{50D1B9C6-D63B-4439-85D4-6D582C0B965F}","officeCode":"","officeDisplayName":"","subscriptionPracticeData":null,"isAlaisedPage":false,"originalHostName":"www.mckinsey.com","updatedDate":"2024-02-13T18:20:59Z","createdDate":"2021-09-15T13:59:04Z","practice":{"isDefaultPractice":false,"name":"Strategy","code":"N12","stickyTitle":"Sign up for emails on new Strategy articles","stickySubtitle":"Never miss an insight. We'll email you when new articles are published on this topic.","previewLink":"","previewLinkLabel":"Preview","description":null,"descriptionText":"Get the latest articles on this topic delivered to your inbox","frequency":"Alert","regFormTitle":null},"url":"/capabilities/strategy-and-corporate-finance/our-insights/a-new-look-at-how-corporations-impact-the-economy-and-households","isCareersPage":false,"officePath":"","hideAppPromo":false,"itemInfo":{"id":"9d89d71f-65a8-454c-b6b3-3aa50de2da38","fullPath":"/sitecore/content/McKinsey/Home/Capabilities/Strategy and Corporate Finance/Our Insights/A new look at how corporations impact the economy and households","templateName":"ArticleJSS","templateID":"683910db-02ba-40ba-92e7-726c880160a9"}},"defaultSettings":{"McKinsey Quarterly":"\u003cem\u003eMcKinsey Quarterly\u003c/em\u003e","FacebookCID":"soc-web","LinkedInCID":"soc-web","TwitterCID":"soc-web","Home Page SEO Details":{"Description":"McKinsey \u0026 Company is the trusted advisor and counselor to many of the world's most influential businesses and institutions.","Image_Url":"/~/media/images/global/seoimageplaceholder.jpg","Image_Alt":""}},"alumniDatalayerChunk":"static/chunks/alumnidatalayer.325ebb6069c1d69e.js"},"componentProps":{},"notFound":false,"noAccess":false},"__N_PREVIEW":true,"__N_SSP":true},"page":"/[[...path]]","query":{"timestamp":"1732308822428","path":["capabilities","strategy-and-corporate-finance","our-insights","a-new-look-at-how-corporations-impact-the-economy-and-households"]},"buildId":"9vYT_fWQKRjfPT7lAZJdB","runtimeConfig":{"CONFIG_ENV":"production","CURRENT_ENV":"production","PUBLIC_URL":"https://www.mckinsey.com","PUBLIC_CMS_URL":"https://cms-prod.mckinsey.com","RECAPTCHA_V3_KEY":"6LdC5twSAAAAAF0dePIbY_ckeF05mKdYYJXn7uTg","INVISIBLE_RECAPTCHA_KEY":"6LcWCs0UAAAAAEik2NaGkfGH8mGHo1ThxIt-qUoE","USER_SERVICE_API_HOST":"https://prd-api.mckinsey.com","MOBILE_SERVICES_HOST":"https://mobileservices.mckinsey.com","SEARCH_SERVICE_API_HOST":"https://mckapi.mckinsey.com","OT_DATA_DOMAIN_SCRIPT_COM":"915b5091-0d7e-44d2-a8c4-cf08267e52fe","OT_DATA_DOMAIN_SCRIPT_DE":"13f50396-9d33-4d95-ba3e-1f108fa91009","OT_DATA_DOMAIN_SCRIPT_BR":"679eae24-1d5c-4f33-8aae-b35aa8269966","ADOBE_LAUNCH":"a400cfbb2fd3","BCOV_POLICY":"BCpkADawqM3Xn1B8iTmHawNytUSk0kXaQKMSM51CBVsYKHfwlRhZimTJqbOOq0NuyxTKQnvb4V9myMVRjwGkyGtJQO2HrUPOJHcsgkpbB-jyHwswonskf6XnZaF0TyyKkAQgbymSMtudeD9CLk-xCpqAzTaNUm7a3M3QKLN4pdLRNJ9_HbVMWzNpiUr5ezAVdMciDMwsD-gxNl43d7bfVP3wRhTNWbWUYn3WK7-Oz2gbxV6mMTm0jJU3SjK_x0meTprYUgdUWA-iDgwVglsnfJ_SVtVDPZypUokKv85GzFLM-ywjWlPM2Hg1ucemwwOpa-qvYBGfeMV7zP3n6s22hFCBveiWtHEBpV9N8f4rjmunMlxBx7kSlxIRjWquZm70hLRXMoxAgQ22BC86tBhgR_d1l9_-FzZuZIlZhzJwJi3ug1HszooHM8uEMOkHmB5nYj5XEgVk5JFYGcSwFSnMnNzE1ej2J3jcEiE3eSWHcremWjCZ0s9bs_8R08WpGWkBp8WMXUFfmhPBMk-MGixR_yIu7nJ6B_hYBnVhqKnnoW-xxEmRxgwG0Ev0S96cAcBG8qdlChGN7o1qN0heGTUIYnDk703q3lt9j7X4FgaITrlcPZOWZ96EHytVKUAtmtVp5BVGpiLn4viuUpEdAM_CLSBIaPVunk-39L8tm6m8iUYmbMX_KXPyaL900bQtVQgK39FCa0pUEZ_jSBOGNj1FH8NUPN2TS8_csNWfpN7gsaD9FBN3wUtawAD_RPdJ952odfwJqyvrkN89AyKnFdFMvUh6_4LCIQVYd4M5KC_k1WNLYb11KZhq6O4UaoyD4X1pV4-x0jBzEnc4VQTkL_04dw2xdPJ1uqUrmHuUcIBO0SKaEk6_5HYc3GKfYwmPz1oxMpOi-Rzw1QPyWIdbrcZdFbIHoVZ8FKfyslEv392pJMiKzUnVWL_3mZ0UqnGtddwlXYVdSs57AUdlrfOe7TVaaIMZ_kL7FSrbWrsaSufitSYr62xD1K1-qeb4wkx8QQEorxGJ3RG1Vpn97Pn5JEC_jvj0s7uzFgidYR9bp80EMmPCHUmRg-Hm1Aq1B4YMNc1ARnFz6UvT_8_pMhJEwKuypA-nPoJu4JZJNLVUdw","sitecoreApiKey":"{AD59BE63-BA20-47D4-A1B0-ECF30588E2E2}","sitecoreApiHost":"https://prod.mckinsey.com","FB_APP_ID":"1382278882079245","ARTICLE_API_HOST":"https://prd-api.mckinsey.com","SITECORE_FORMS_SERVICES_API_HOST":"https://prd-api.mckinsey.com","FEATURE_TOGGLES":"{\"stack_adapt_pixel\": true, \"article_seo_schema\":true, \"remember_me\": true, \"gql_promo_banner\": true, \"gql_highlight_bar\": true, \"gql_ceros_placeholder\": true, \"gql_two_up_medium\": true, \"gql_hero_with_partnership_mark\": true, \"gql_brightcove_gallery\": true, \"gql_one_up_medium\": true, \"gql_promo_bar_with_quote\": true, \"gql_fifty_fifty_hero\": true, \"gql_enhanched_hero\": true, \"gql_two_up_small\": true, \"gql_general_up\": true, \"gql_full_bleed_hero\": true, \"passwordless_login_enabled\": true, \"sso_enabled\": true, \"article_id\": \"\", \"personalisation_enabled\":true, \"hide_student_sticky_footer\":true, \"email_domain_validation_enabled\":true, \"enable_cid_cookie_qp\": true, \"otp_verification_enabled\": true}","HEADER_SCRIPT_HASH":"abcd1234","OKTA_AUTH_CLIENT_ID":"0oa8ppb3ypQ8uOI8y697","OKTA_AUTH_ISSUER":"https://dotcomidp.mckinsey.com/oauth2/aus2byav0jTElyFDD697/","AUTO_REDIRECTION_DURATION":"5","LINKEDIN_IDP":"0oaecyj1byxnfrfFk697","APPLE_IDP":"0oaeg2lxy6mq4PX5F697","GOOGLE_IDP":"0oaeczfkb03XL3E4O697","ALUMNI_BASE_API_URL":"https://dev-gateway.intranet.mckinsey.com/:apiKey/v1","ALUMNI_AUTHENTICATE_API_URL":"https://dev-ac3-okta-auth.intranet.mckinsey.com/authenticate","ALUMNI_OKTA_URL":"","ALUMNI_OKTA_ENABLED":"true","GOOGLE_MAP_API_KEY":"AIzaSyDqrGDNMDjy9pXHkMf-_Ut33LoC725GSe4","AWS_GATEWAY":"https://dev-gateway.mckinsey.com","AWS_API_GATEWAY_ID":"o63viscaj4","AWS_PERSONALIZATION_TRACKING_ID":"f3f97bc3-4ca7-4960-9e49-0bcff6294ab4","AWS_PERSONALIZATION_CID":"recommendations-onw-onw-mck-mck-art-2410-v1-user-ext-web","EVENTS_MODULE_CARDS_COUNT":"8","RECOMMENDATIONS_OFFER_ACTIVITY":"Article Recommendations"},"isFallback":false,"dynamicIds":[70281,12711,76731,98391],"gssp":true,"locale":"en","locales":["en","da-DK"],"defaultLocale":"en","isPreview":true,"scriptLoader":[]}</script><script type="text/javascript" src="/CD521ZmoihS6ARo3gA/pYacztLGJLc6i9/DWRZTi91cQc/Jl/gQLhALSh4"></script></body></html>