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Articles & Blogs on Ethics & Banking / Finance

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

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.”

Impact Investing Won’t Save Capitalism

“if we really want to reform capitalism, then impact investing as it is traditionally conceived will not be enough. The pandemic is not a mere anomaly; there are profound limits to what business can do profitably in normal times too. We need to reform the rules that govern how our economy works — and impact investors have a critical role to play.”

The Long Divorce Between the Economy and Financial Markets

“In our new book, Divested: Inequality in the Age of Finance, we document how the United States has been taken over by finance. We show that the rise of finance represents a paradigmatic, regressive shift in how American society organizes economic resources. In this process, financial markets have channeled tremendous resources to investors and the financial sector, divesting ordinary households and states.”

Negative Interest Rates: A Positive Thing?

When we take out a loan, we pay interest, while our savings generate interest. At least, this used to be the norm. Earlier this year however, Dutch banks announced that the interest rates on savings accounts will fall below zero in order to boost the economy. Why did this happen, and how does this affect our ideas about economics? Learn from economists Stefan Zeisberger and Ivan Boldyrev about the effects of negative interest rates, and whether this measure can save our economy, even when the corona pandemic takes its toll.

Socially Responsible Investing Can Be Like Searching for Fool’s Gold

“ESG proponents argue that when companies place importance on reducing their carbon footprint, emphasizing workplace management or improving board diversity, they are doing good business that will generate greater long-term financial returns for their investors. […] Many academic and industry studies have looked into this, however, and there is no conclusive evidence that ESG investing leads to superior returns for investors.”

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