Articles & Blogs on Ethics & Banking / Finance

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The Reset of Capitalism (in Europe)

We need a ‘Great Reset’ or ‘Great Reallocation’ of capitalism in which European capital is being invested in European companies, and vice versa, European companies being financed with European capital; these investment decisions resulting from a dialogue between the European wealthy and European entrepreneurs; and this process being maximally supported and promoted by national and European laws and regulations. This idea was not born from gloomy nationalism or anti-globalism, but from the conviction that a better balance is needed between global and local, between place of production and place of consumption, between mobile wealth and immobile labor, between large-scale politics and small communities, between freedom and responsibility, between short- and long-term. A viewpoint for the Future Markets Consultation submitted by Dutch think tank Socires.

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.”

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