“In her exploration of the exclusive world of wealth management, Brooke Harrington dives into the heart of capital globalization. As pillars in the structure of international finance, wealth managers help manage and increase the capital of the wealthy by circumventing government regulations”
“Ten reasons to be cheerful about global capitalism. Richer, healthier and better travelled – just a few reasons to be grateful for capitalism. Less disease, more education and fewer wars – the clear benefits of global capitalism.”
“As with the concept of the just price, the idea of the just wage combines the subjectivity of the diverse needs and preferences of individuals with the objective demands of justice. The teaching of the Catholic Church on the just wage avoids both the Scylla of economism and the Charybdis of moralism.”
“Electric cars are perceived as a positive externality of consumption on the society. To fight global warming, governments have implemented different policies to stimulate consumer demand. But just how sustainable is demand for electric vehicles and how long will governments fuel it? There is also the question of hidden costs for stakeholders like the Democratic Republic of Congo, major supplier of cobalt used for EV batteries.”
“Michael Harrington was a public intellectual who strove to help the poor and inspired a generation of socialists. He was the first chairman of the Democratic Socialists of America, and nearly ran for president in 1980. While he is far from the only influential thinker on the American left, his ideas have had an outsized influence over the last sixty years.”
“Russ Roberts — economist and host of the excellent EconTalk podcast — wrote a penetrating essay last week on what we can learn from Adam Smith’s first book, The Theory of Moral Sentiments.”
“When we think about economics we can tend to immediately focus on mathematics, data, and graphs, but at its core economics is the study of human action in a marketplace. Economics is a human science.”
“At the start of the 20th century, children were part of the regular workforce. They possessed few toys. When U.S. manufacturers created games, they built them to market to parents: to teach as well as to entertain. Progressive writer Elizabeth Magie Phillips created Monopoly in 1904 to teach players about the dangers of wealth concentration.”
“Beware simple solutions to complicated problems. Treating Google and Amazon as public utilities is an extremely high-risk tactic. There are plenty of ways to make tech more dynamic without poorly thought out regulation.”
“It’s easier to become an economist than a dentist, or a doctor or a lawyer. For those and other professions you need to be accredited – you need a licence to practice. The economics profession requires nothing other than a university degree, and this month in its regular poll of 54 leading economists, the Economic Society of Australia asked whether it should set the bar higher.”
“Even though anarchy and capitalism seem like they’re diametrically opposed, there are some out there who call themselves anarcho-capitalists. A more extreme version of libertarianism, anarcho-capitalism argues that there ought to be no state whatsoever; the free market can sort everything out, and if left alone, will ensure everybody’s liberty. The philosophy attracts considerable criticism, both from anarchists, who argue that capitalism is inherently exploitative, and from people with more traditional politics, who argue that the lack of regulation would send an anarcho-capitalist society right down the toilet.”
“The Power of Capitalism; A Journey through Recent History across Five Continents” – New on Our Bookshelf
The Power of Capitalism is an exploration of capitalism and its power to create growth and prosperity all over the world by German historian, author, management consultant and real estate expert Rainer Zitelmann.
“The choices underlying marketplace transactions are more complicated and less narrowly self-regarding than we often suppose. By returning to the full corpus of Adam Smith’s writings, we can escape economistic conceptions of human beings and enhance our understanding of how market economies actually work.”
“You have to understand people first before you can understand how to devise an economic system for them” argues Robert J Shiller, the Yale economics professor and Nobel laureate. He chooses five books that explore who we fundamentally are, as human beings, and how that will determine the shape of a successful capitalism.
“The lack of pluralism of economic theories and methodologies has been a problem for a long time, but it became particularly obvious in the wake of the global financial crisis. A decade later, there is still much to be done to open up spaces for alternative economic approaches. In addition to opening up economics to insights from alternative theoretical approaches—such as Keynesian economics, Marxian economics, political economy, and feminist economics—our field must also be more inclusive of scholars from underrepresented groups in order to lay the foundations for an economics that is relevant for our time and firmly grounded in the real world. We believe these two forms of diversity deficits must be tackled together. Below we outline our plan for doing so. “