Future Markets Consultation

Towards a New Market Economy in Europe for Future Generations

Articles & Blogs on Ethics & Banking / Finance

Hand-picked for you from around the web + original content published just on the Moral Markets site

Cooperative Finance for a Faster Transition to Sustainability

This viewpoint is a call to let a parallel economy come into existence that empowers people and connects companies with a commitment sustainability (including social sustainability). An economy where money is only a means, not an end in itself. A parallel economy that is provided with the necessary financial resources through cooperative finance, with the aim of a powerful acceleration of the sustainable transition. A viewpoint submitted to the Future Markets Consultation by Dutch NGO United Economy.

Finding Virtue in the Finance Industry

“Finance can be a force for good in society but, over the past few decades, structural and behavioral changes have pushed the industry away from its mission of serving clients and supporting the economy in favor of enriching itself. At worst, financial services firms are mired in conflicts of interests, cloaked in opacity and complexity, and skewed by information asymmetry. Many of my students are keen to work in finance but concerned about being corrupted as soon as they walk into their first jobs. What can be done to restore confidence in the industry?”

A New Division between Public and Private for a Sustainable Financial System

The financial crisis of 2008, when Lehman Brothers went bankrupt, caused all kinds of financial and economic problems in the United States and Europe. Things became stable after a while, but prices of houses and stocks have been breaking new records. Is the financial crisis something of the past or a problem which is going to repeat itself? And if so, how can we prevent this from happening? A viewpoint from the Sustainable Finance Lab.

Why Do Bankers Behave So Badly? They Make Too Much Money to Ask Questions

“the suspicious activity reports suggest that where there is a conflict between profit and ethical decision making, profit usually wins. I don’t think the reason for this is that all people in finance are unethical, but an industry with such a lot of cash floating around and too little regulation is likely to attract people with questionable ethics.”

How the Shadow of Slavery Still Hangs over Global Finance

“Financialisation has since taken many forms, but basic elements remain the same. It is based on uneven power relations that capture future individual obligations and make them saleable. The contracts underlying the 2008 credit crisis, for example, turned future mortgage payments into tradeable financial securities with actual present value.”

Climate Change’s New Ally: Big Finance

“What are we to make of this seeming sea change in corporate social responsibility? Critics are correct in pointing out that these measures fall far short of what is needed to avoid catastrophic levels of warming. But to observers of corporate governance, this level of climate activism is unprecedented, almost shocking—and without an analytical vocabulary to make sense of it.”

Loading

Post archive