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OpenMarket: Morality of Capitalism

  • 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.
  • Retro Reviews: Common Sense Political Economy

    May 20, 2020
    ​​​​​​​This review of Philip Henry Wicksteed’s 1910 textbook The Common Sense of Political Economy was originally published at Inertia Wins. Wicksteed was a leading economic writer of his day, but also an intellectual of wide-ranging interests and a Unitarian minister.
  • Retro Review: Irving Kristol's "Two Cheers for Capitalism"

    May 13, 2020
    Long before we began debating the wisdom of neoconservative foreign policy, Irving Kristol was writing about domestic economic policy and the future of capitalism. His 1978 book Two Cheers for Capitalism addresses the issues of the day and makes conservative arguments about how people will be dissatisfied with any society that delivers material prosperity but seems to lack a higher meaning.
  • New Profile in Capitalism: Ariel Corporation CEO Karen Wright

    May 5, 2020
    Some CEOs seem to have more hours in the day than others. Such is the case of Karen Wright, the head of Ariel Corporation, a leading maker of natural gas compressors. Leading this successful American manufacturing company since 2001, she has carved out a role as an advocate for her industry and her convictions.
  • Retro Review: Vlad Tarko’s Biography of Elinor Ostrom

    April 23, 2020
    Elinor Ostrom’s pioneering work on “polycentrism,” the existence of multiple sources of government authority or power within a single political system, is especially relevant during the current coronavirus pandemic, in which we wrestle with the respective roles and responsibilities we expect from mayors, governors, federal officials, and international bodies like the World Health Organization.
  • Memo to BlackRock: Drop Activist Agenda, Focus on Recovery

    April 15, 2020
    Should large institutional investors find and support profitable firms or adopt the tactics of left-wing pressure groups to force companies into adopting a political agenda? That’s the issue at the heart of a new open letter to BlackRock CEO Larry Fink that takes the firm’s to task for its announced investment guidelines, which would put goals like climate activism ahead of shareholder returns.
  • Robots Are Here to Make Your Job Safer and Cleaner

    April 10, 2020
    Positive stories about win-win results from the march of automation are everywhere in our economy, but they don’t get told and repeated enough. The workers who are told they should be the most worried about their jobs being stolen by robots are, in fact, the ones who will likely benefit the most from future jobs that will be safer and more pleasant.

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