In a nod to Election Day, Leadership Next is engaging in a hallmark of American democracy: debate. Part of the thesis on this podcast is that business is changing. The best leaders recognize that to motivate their employees, customers - and sometimes their investors - they need a purpose beyond profit. And they need to be willing to address some big social problems like climate change and inequality that may be seen as existential threats to society and therefore to their businesses. 

But of course not everyone agrees. Harvard Law's Lucian Bebchuk calls the promise of stakeholder capitalism "illusory."

He joins Alan Murray and Ellen McGirt, along with Rebecca Henderson who is author of "Reimaging Capitalism in a World on Fire," and a professor at the Harvard Business School.

Up for debate: Are the CEOs who profess to focusing on purpose actually following through? What types of incentives are needed to encourage companies to focus on stakeholders? Can companies proclaim a commitment to stakeholders while also spending heavily on lobbying in Washington DC?