894 Posts Found

What underlying assumptions about centralized trust do you make in your own work? How would instantaneous peer-to-peer trust with no need for a centralized third party change things? If you could meet a stranger and be able to enter into a trusted exchange without needing a third party, what changes in your theoretical perspective on the world? That model of interaction is what distributed trust … [ Read more ]

Content: Quotation | Author: Marc-David Seidel | Subjects: Economics, Management, Organizational Behavior, Trust

Ten years after the first stirrings of the global financial crisis of 2007–09, economic historians are trying desperately to understand what has gone wrong. With remarkable frequency, writers and thinkers orient themselves and their stories around World War II, which seems entirely appropriate: What’s happening in the global economy and in politics certainly may feel like an unraveling of the postwar institutions and order. But … [ Read more ]

Content: Article | Author: Ryan Avent | Source: strategy+business | Subjects: Economics, History

That broad narrative of intensifying competition, as well as the growing need for cooperation, contains challenges, but also great opportunity. We hear about the challenges every day in our conversations with global business leaders: How long can their traditional sources of competitive advantage survive in the face of technological shifts? How will changing consumer and societal expectations affect their business models? What does it mean … [ Read more ]

Content: Article | Authors: Ezra Greenberg, Martin Hirt, Sven Smit | Source: McKinsey Quarterly | Subjects: Economics, Trends / Analysis

Shareholder capitalism has been an intellectual swindle, on a par with the trickle-down economics of the Reagan era.

Content: Quotation | Author: Bruce Scott | Source: PBS | Subjects: Capitalism, Economics

Completely free markets are not a recipe for prosperity; they are a recipe for plutocracy and corruption, as we are increasingly aware of every day.

Content: Quotation | Author: Bruce Scott | Source: PBS | Subjects: Capitalism, Economics

U.S. capitalism was and mostly still is understood as a natural system and not one that was and is socially constructed by government policy.

[…]

“Free markets” must be one of the most overused expressions in the English language. Stated bluntly, there are no free markets in organized capitalism. All of the so-called freedoms in capitalism are conditional freedoms, and that conditionality is established by, … [ Read more ]

Content: Quotation | Author: Bruce Scott | Source: PBS | Subjects: Capitalism, Economics

Greed and fear are the two opposing elements of market forces.

Content: Quotation | Author: Fred Wilson | Subject: Economics

The law professor who brought behavioral science into public policy believes that with a little intervention, we can all have the freedom to choose wisely.

Content: Article | Authors: Cass R. Sunstein, Sally Helgesen | Source: strategy+business | Subjects: Customer Related, Economics, Marketing / Sales, Organizational Behavior

Today’s economic and political upheavals reflect an ongoing misalignment between business and economies (on the one hand) and acceptable societal outcomes (on the other). There is still time to adjust, if we are willing to reexamine some long-held assumptions.

Content: Article | Authors: Blair Sheppard, Colm Kelly | Source: strategy+business | Subjects: Capitalism, Economics, History

We sometimes try and justify the most valuable things in life, like health and well-being, in terms of a lost ability to contribute to the economy. We’ve got a situation where human well-being is apparently in service to the economy, where we need to turn that around. The economy, and certainly the financial sector, should be in service to life. We need to reframe it. … [ Read more ]

Content: Quotation | Author: Kate Raworth | Source: Knowledge@Wharton | Subject: Economics

We need to ask ourselves three questions. Growth from what? Is the economy growing because we’re making a huge investment in a transition to renewable energies, like China investing $360 billion by 2020 in solar energy capacity? That’s a great reason for GDP in China’s growth. Or is it growing because we’ve got massive consumer debt spending on mortgages we can’t afford and cars we … [ Read more ]

Content: Quotation | Author: Kate Raworth | Source: Knowledge@Wharton | Subject: Economics

In the 1930s he [Simon Kuznets] was asked by Congress to come up with a measure of national income. He did a fantastic job and came up with this measure, which we now know as GDP. But at the time when he created it, he gave us a caveat. He said, “This measure should in no way be mistaken for the measure of a nation’s … [ Read more ]

Content: Quotation | Authors: Kate Raworth, Simon Kuznets | Source: Knowledge@Wharton | Subject: Economics

I think every student should learn there are four fundamental forms of provisioning: through market exchange, through the state providing public goods, through household unpaid care and households and communities, and the self-organizing without market or state in the commons. Almost any good that you care to think of can be provided in any one of those four ways. Then you’ve got a much more … [ Read more ]

Content: Quotation | Author: Kate Raworth | Source: Knowledge@Wharton | Subject: Economics

There are winners and loser in the economy every day, and there are winners and losers from the massive technological shifts that are going on right now. All the time, the economy is evolving. We just need to ask ourselves, what is the purpose of the economy and what direction do we want it to evolve in?

I think there are two principles that we need … [ Read more ]

Content: Quotation | Author: Kate Raworth | Source: Knowledge@Wharton | Subject: Economics

Humans are instinctively moral beings and I don’t see machines as ever entirely replacing those instincts. Computers are powerful complements to moral reasoning, not substitutes for it.

Content: Quotation | Author: Eric Maskin | Source: McKinsey Quarterly | Subjects: Economics, Miscellaneous

It’s been a tumultuous 10 years. And the period has produced a bumper crop of excellent economics books by academics, journalists, and practitioners who have attempted to grapple with the extraordinary macroeconomic disaster. They have examined why it happened, how to fix it, what it means, and how to avoid a recurrence of anything even remotely as hellish.

But we may have arrived at a crossroads. … [ Read more ]

Content: Article | Author: J. Bradford DeLong | Source: strategy+business | Subjects: Economics, History

Kate Raworth, a senior research associate at Oxford University and senior associate at the Cambridge Institute for Sustainability Leadership, wants to challenge the old ways of thinking about economics and develop sustainable new patterns for economic growth. In her book, Doughnut Economics: Seven Ways to Think Like a 21st-Century Economist, Raworth encourages careful consideration of measurements beyond the standard gross domestic product metric. Thoughtful economic … [ Read more ]

Content: Article | Author: Kate Raworth | Source: Knowledge@Wharton | Subject: Economics

Shareholder primacy is causing secular stagnation.

Content: Article | Author: Robert Ayres | Source: INSEAD Knowledge | Subjects: Economics, Finance, Management

Global connectedness is measured along the lines of four pillars: trade (products and services), investment (capital), information (internet traffic, phone calls, print media) and people (migrants, tourists, students). These four pillars encompass most of the aspects of international connectedness that have maximum relevance for business people, policymakers, and ordinary citizens concerned with the impact of globalization on their life opportunities,

Content: Quotation | Authors: Pankaj Ghemawat, Steven A. Altman | Source: IESE Insight | Subjects: Economics, International

Economist William Baumol had a famous idea, commonly known as Baumol’s cost disease, that explains a lot about our modern world. It explains why barbers make more in San Francisco than in Cleveland and why services such as health care and education keep getting more expensive. And it provides a possible explanation for why rich countries like America are devoting more and more of their … [ Read more ]

Content: Article | Author: Timothy B. Lee | Source: Vox | Subject: Economics