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OpenMarket: Morality of Capitalism

  • Best Books of 2019: Humanomics by Vernon Smith and Bart Wilson

    December 27, 2019
    Smith and Wilson combine insights from their experimental economics research with insights about human character from Adam Smith’s "Wealth of Nations" and especially his 1759 book "The Theory of Moral Sentiments."
  • Best Books of 2019: Expert Failure by Roger Koppl

    December 26, 2019
    Koppl uses the role of experts to explain the difference between approaching social problems from the top down versus from the bottom up. Koppl defines an expert as anyone who is paid for their opinion. This is not tied to any credential, degree, affiliation, or any objective measure of knowledge. If someone sees fit to pay you for your opinion on something, you’re an expert on that something.
  • Weighing Bad Capitalism and Good Socialism

    December 24, 2019
    Recently economics professor Walter Block of Loyola University New Orleans wrote a great op-ed for The Wall Street Journal titled “Bad Capitalism and Good Socialism.” It helps clarify some confusion about the relative merits of different economic systems and the ostensible aspects of capitalism and socialism that people most often object to.
  • Best Books of 2019: The Enlightened Capitalists by James O’Toole

    December 24, 2019
    James O’Toole, a professor emeritus at the University of Southern California’s Marshall School of Business, has assembled an impressive collective history of dozens of innovative—and even visionary—business leaders in his new book, "The Enlightened Capitalists: Cautionary Tales of Business Pioneers Who Tried to Do Well by Doing Good."
  • Best Books of 2019: The Anarchy by William Dalrymple

    December 20, 2019
    How did a joint stock company founded in Elizabethan England come to replace the glorious Mughal Empire of India, ruling that great land for a hundred years? William Dalrymple’s splendid history, The Anarchy, tells that story—and purports to warn us about the perils of corporate power.
  • Best Books of 2019: The Narrow Corridor

    December 19, 2019
    Predatory governments with high corruption, that don’t respect political and economic freedoms, are extractive. Countries with these sorts of institutions tend to be both poor and repressive. Countries with inclusive institutions, such as strong property rights, democratic accountability, and the rule of law, tend to be both wealthy and free.
  • Corporate 'Social Responsibility' Must Be Voluntary, Not Mandated

    November 19, 2019
    The Bipartisan Policy Center (BPC) just wrapped an event on corporate governance titled “The Role of a Corporation: The Shareholder versus Stakeholder Debate,” and it covered some interesting territory. BPC president Jason Grumet led a discussion with former Securities and Exchange Commission members Dan Gallagher and Roel Campos.
  • VIDEO: Life Is Getting Better

    September 27, 2019
    Despite prominent headlines to the contrary, the world is not actually falling apart. As our friends at places like Human Progress tirelessly work to remind us, global trends on everything from war and famine to longevity and literacy are looking good.
  • VIDEO: Prosperity Is More Than Wages

    September 20, 2019
    In a new video for the PolicyEd channel, economist Russ Roberts takes on the popular—though misleading—narrative that ordinary working Americans haven’t made any real economic progress in the last generation or so.
  • Policy Circle 4th Annual Leadership Summit Coming to Chicago

    September 12, 2019
    There are a lot of useful conferences, meetings, and conventions that fill our calendars, and one that we're especially looking forward to this year is the Policy Circle’s 4th Annual Leadership Summit in Chicago. The Policy Circle is a non-profit organization committed to advancing women’s leadership through expanding knowledge of public policy, and they've got some excellent speakers lined up.

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