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OpenMarket: Morality of Capitalism

  • The Socialist Temptation: Socialism and American Values

    July 28, 2020
    The way to reach people is by making sure a policy accorded with their values. In his new book, The Socialist Temptation, Iain Murray argues that the recent rise in popularity of socialism has occurred because socialism talks a very good game when it comes to values. The trouble is that it actually undermines those values.
  • Wealthy Millennials Not So Concerned with "Socially Responsible" Investing

    July 17, 2020
    In the last few years advocates of corporate social responsibility theory have been assuring everyone who would listen that a new day is dawning for financial management, and that younger investors would be increasingly demanding that public companies and investment management firms conduct business consistent with environmental, social, and governance (ESG) goals. A new industry study, however, may be interrupting that narrative.
  • America’s Cultural Revolution

    July 17, 2020
    In his forthcoming book, The Socialist Temptation, Iain Murray talks about how socialism in China produced the Cultural Revolution. The text of the book was finalized before our current moment, so he was unable to draw parallels between what happened then and what appears to be happening now, but he thinks we should worry.
  • George Washington’s Fight (and Ours) against Regulation without Representation

    June 29, 2020
    Those who have followed CEI over the years know that one of our main grievances is “Regulation Without Representation.” The phrase—an apt description of laws effectively made by unelected regulatory agencies instead of the people’s representatives in Congress—also connotes the battle that George Washington and other American patriots fought against taxation without representation.
  • Why George Washington Shouldn’t Be Canceled

    June 26, 2020
    The father of our country is making news, but for disappointing reasons. Washington was trending on Twitter after his statue was toppled in Portland. A private school in Nashville dropped its annual celebration of Washington's birthday, saying it was “not consistent with or relevant to the way that we teach history today.” If anything, current events only serve to make him more relevant than ever.
  • Secretary Scalia to Pension Funds: Manage for Returns, Not Virtue Signaling

    June 24, 2020
    In a Wall Street Journal op-ed, Labor Secretary Scalia explains the reasoning behind a proposed rule reaffirming that pension funds should focus on providing benefits to retirees. The current vogue for investments guided by environmental, social, and corporate governance goals has raised concerns that fund managers have been playing politics with the retirement nest eggs of American workers.
  • Value of Employee Benefits in Eye of Beholder

    June 5, 2020
    Advocates of “social responsibility” and environmental, social, and governance standards for companies have little interest in their proposed requirements being voluntary, despite frequent protestations to the contrary.
  • "Social Responsibility" Expectations for Business Pivot from Voluntary to Mandatory

    June 3, 2020
    The Financial Times reported that many companies have cut dividends to shareholders because they are struggling with the current economic downturn. But even after we’ve recovered from the current emergency, reporter Billy Nauman writes, “[the] popularity of environmental, social and governance (ESG) investing could mean that dividend cuts extend beyond the downturn.”
  • My Answer to J.K. Rowling on What Cryptocurrency Is

    June 2, 2020
    To paraphrase a famous financial services commercial from the 1970s and 1980s, when J.K. Rowling asks, people answer. When the famed author of the Harry Potter series of books requested an explanation of bitcoin on Twitter in May, hundreds of people raced to reply. On May 17, CEI's John Berlau joined the fray in a tweet thread addressed to Rowling.
  • Lean on Business Leaders to Defend Markets

    May 22, 2020
    One on the main goals of the Competitive Enterprise Institute’s Center for Advancing Capitalism is for more business leaders to prioritize the defense of the political environment—limited government and a market economy—that makes their own success in business possible.

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