Thomas Piketty, the author of the ‘Capital’, has won the FT and McKinsey ‘Business Book of the Year Award’. According to Lionel Barber, FT editor and chairman of judges, Piketty’s controversial best-seller came on top after a “vigorous debate” about “an incredibly strong field” of six shortlisted titles.
Established in 2005, the FT Business Book of the Year Award has since grown into one of the leading awards for books in the field of management and business. The award is given to the book that according to the professional jury provides the “most compelling and enjoyable insight into modern business issues”. This year McKinsey & Company signed up as partner of the prestigious award, succeeding Goldman Sachs, that served as a partner since the prize’s establishment. Six books were short-listed for the final:
In the best-seller book ‘Capital’, the French origin Piketty highlights the issue of income inequality and its impact on economy and society. The 700 page book has globally among journalists, politicians and executives incited a fierce debate about growing inequality. The publication at the same time has led to controversy, with several of highly regarded economists questioning some of the fundamental research methods applied by Piketty. “While not everyone agreed on the policy prescriptions, we recognised the quality of the scholarship,” says Barber.
Bracken Bower Prize
In addition to the ‘Business Book of the Year Award’, FT and McKinsey this year for the first time launched the ‘Bracken Bower Prize*’, a newly launched prize awarded to the most promising young business writer (under 35). The prize went to Saadia Zahidi, a senior director of the World Economic Forum, for the entry ‘Womenomics in the Muslim World’, about the advancement of women in Islamic countries.
* The Bracken Bower Prize is named after Brendan Bracken who was chairman of the FT from 1945 to 1958 and Marvin Bower, Managing Director of McKinsey from 1950 to 1967, who were instrumental in laying the foundations for the present day success of the two institutions.