Articles & Blogs Critiquing / Reinventing Capitalism

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

Toward a New Fiscal Constitution

“With the COVID-19 pandemic forcing governments to spend on an unprecedented scale to sustain businesses and households, there has never been a better time to restore the state to its proper role as a rudder for the broader economy. The market alone is simply no match for the challenges of the twenty-first century”, so Mariana Mazzucato and Robert Skidelsky argue.

Coronavirus Recovery – The New Economic Thinking We Need

“based on the experience of the past decade, it’s hard to say that economic crises are truly abnormal. Heterodox economics, an approach to economics that I belong to, says economic crises are an inherent feature of capitalism. […] More government spending on public investment projects and public services, as well as greater oversight of how market activity influences society, must be the focus going forward.”

Resetting Capitalism; Searching for Common Ground (Webinar)

Already before the outbreak of the COVID-19 pandemic there were grave concerns about the state of our global economy and the future of capitalism. The current COVID-19 crisis only adds fuel to this debate. What will this reset look like and who can and/or will enforce it? Moral Markets is one of the partners in the organisation of a webinar on Monday 29 June from 16.00 to 17.30 CET on this topic.

Reimagining Capitalism for a Broken World

“More than half of the world’s population believe capitalism is doing more harm than good. But is it beyond repair, or can it be fixed from within? Harvard Business School professor Rebecca Henderson joins Azeem Azhar to share her vision of purpose-driven capitalism, where companies can make good profits by doing the right thing. They also explore:

  • Why strong government and civil society are fundamental for healthy capitalism.
  • Why highly-rated ESG companies have proved to be more profitable and resilient.
  • The flaw in relying on a few philanthropists to fund public services.”

Time for a Great Reset

“many companies have stepped up to support their workers, customers, and local communities, in a shift toward the kind of stakeholder capitalism to which they had previously paid lip service.Clearly, the will to build a better society does exist. We must use it to secure the Great Reset that we so badly need. That will require stronger and more effective governments, though this does not imply an ideological push for bigger ones. And it will demand private-sector engagement every step of the way.”

How Market Design Economists Helped to Engineer a Mass Privatization of Public Resources

“In 2017, the Federal Communications Commission conducted a complex two-sided auction to reallocate spectrum from broadcasters to mobile communications companies. The way economists designed the auction included hundreds of millions of profits for private equity firms and a disappointing outcome for taxpayers. A former academic economist now working for Microsoft, Glen Weyl reflects on the role of the market design community in these unfortunate events.”

The Economy and Religion: Two Worlds? Catholic Thoughts on the Spirit of Capitalism

Economy and morality, or rather, capitalism and its ‘religious-ethical despisers’: two worlds and never the twain shall meet? On the contrary: the economic domain is not and has never been without morals and beliefs. Historically, Catholicism has contributed to the spirit of contemporary capitalism. But modern Catholic social thought has gradually developed a vision that suggests a conversion of the present global system. I will argue that it is necessary to continue the dialogue, not only because economists and faith traditions can critically contribute to each other, but also because this fosters the self-understanding of both faith traditions and economists.


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