Explain the Concept of Stakeholder Economy

Explain the concept of stakeholder economy
"It is a stakeholder economy in which opportunity is available to all, advancement is through merit, and from which no group or class is set apart or excluded." Blair, January 1996
"A stakeholder economy is not about tying companies up in red tape. But it is about changing the culture of our industry, so that we can compete on the basis of quality and not only cost; on the long-term as well as the short-term; on trust, not simply a quick buck. There is no future for Britain as a low skill, low tech, low wage economy. …