Blog on Free Markets, Ethics and Well-being

Interesting posts and articles from around the web, collected in one place. Plus original content from our researchers and other contributors.

Why Capitalism Isn’t Broken

CapX ("for popular capitalism")

“The gap that opened up between wage and productivity growth in the mid-19070s, and has since widened into a yawning chasm, seems to show that the US economy isn’t delivering for ordinary Americans as it has done in the past. […] Capitalism’s genius is supposed to be they way in which it brings about the sort of growth from which we all benefit. But if workers are getting more done but not getting a pay rise, maybe the system is broken.”

Caux Round Table for Moral Capitalism

Ilse Oosterlaken

The Caux Round Table envisions “a free, fair and prosperous global society built on the twin pillars of moral capitalism and responsible government.” They believe that “Moral Capitalism is the only system with the potential to meet the needs and aspirations of individuals, businesses, societies, and nations”

Free Exchange: John Kay on the Meaning of the Market

CapX ("for popular capitalism")

Economist John Kay “despairs at the caricatured greed-is-good view of the market that has become conventional wisdom. He calls this idea ‘both repellant to most thoughtful people and false as a description of how markets really operate.’ What has been lost, he says, is an appreciation of the extent to which ‘our economy does depend very heavily on morality and trust relationships. It is not a matter of leaving people to do whatever they like. Nor is it about glorifying greed.'”

The Moral Identity of Homo Economicus

External site

“Two recent books indicate that a quiet revolution is challenging the foundations of the dismal science, promising radical changes in how we view many aspects of organizations, public policy, and even social life. […] Economics and our view of human behavior need not be dismal. It may even become inspirational.”

Five Open Online Courses on DOING BUSINESS DIFFERENTLY

Ilse Oosterlaken

What courses to take if you would like to sharpen your thoughts on morality and markets? In the final post in this series some massive open online courses (MOOCs) on the topics of just banking, cooperative firms as an alternative to capitalism and social entrepreneurship.

Economist Who Helped Behavioral ‘Nudges’ Go Mainstream Wins Nobel

The Conversation ("Academic Rigour, Journalistic Flair")

“It may be hard to believe, but before these scholars came along, many economists assumed that humans acted like Spock on “Star Trek.” People were supposed to be perfectly rational calculating machines that looked at all the information and made correct choices. However, even a most casual view of the real world suggests this is not a good assumption. So who is Thaler and what’s so important about his work?”

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