The article, “Corporatism, not capitalism is to blame for inequality,” by Edmund Phelps, the 2006 Nobel in Economics, appeared in the July 24, 2014 Financial Times. For Phelps, the term corporatism refers to the values of an egalitarian, progressive society that at the same time encumbers innovation. He discussed his views on corporatism in an […]
Who is Picking up the Tab for the Financial Crisis? Is it Fair?
The most heavily indebted governments have always resorted to the same strategy: inflation. Suppose you owe 100 euros that you need to repay in one year at an interest rate of 3%. When the time comes, if inflation is 5%, you will repay 103 euros with a purchasing power of only 98 euros. The lender […]
Compliance as a Tool of Ethics
The first time I heard the term “corporate compliance,” I must confess it didn’t sit well with me. The term seemed to transform social responsibility – or worse yet, ethics – into mere compliance with policy, norms and rules as dictated by law and regulation or corporate self-regulation. (An example of the latter would be […]
Values that We Can Change in Companies and Society
What can we do with our society’s values? Values can be changed …