The bad rap of capitalism’s excesses does not have to underwhelm common sense. Despite its faults American capitalism has done a lot of good. It can still do more.
In his book Saving Capitalism: For the Many, Not the Few , former U.S. Secretary of Labor Robert Reich provides an outstanding guide to many of the factors that prevent the possibility of a truly free market.
The greatest management professor of all time, Peter Drucker, once recommended that corporations learn from non-profits. He wrote a classic HBR article on this topic, still available. Today social entrepreneurship represents one of the most inclusive pathways to doing well by doing good. This is not poor English usage.
It is a concept that is long overdue.
MCKINSEY & COMPANY
How social entrepreneurs can solve the talent problem
Three steps can help. The impact of social entrepreneurs-individuals who deploy innovation and market forces to fill social needs-is growing. Bringing light to Africa, mobile banking to Bangladesh, low-cost healthcare to Nepal, or even better school lunches to the American cafeteria: in all these cases, the private sector is a big part of the action.
Read the article on mckinsey.com >
If I am right, thinking differently about your investments will be your #1 priority.
(Warning: It does not matter which Guru(s) you listen to!)
Robert Bailey is an insider and disruptor in real estate and business finance. He is articulate and thorough, with an occasional wry sense of humor-‘sparks creative solutions,’ he says. His newest book, The Plan, shows how to coordinate multiple resources into an understandable, unified and focused strategy so you can enjoy personal satisfaction and an exciting and fulfilled life.
I know you’ve gotten these.
Poll: Do newspapers hurt themselves by charging non-resident readers?
“Great firms, with a reputation which they have received from the past, and which they wish to transmit to the future, cannot be guilty of small frauds. They live by a continuity of trade, which detected fraud would spoil. When we scrutinise the reason of the impaired reputation of English goods, we find it is the fault of new men with little money of their own, created by bank ‘discounts.’ These men want business at once, and they produce an inferior article to get it. They rely on cheapness, and rely successfully.”
Excerpt From: Walter Bagehot. “Lombard Street : a description of the money market.”
I re-discovered Bagehot in Niall Ferguson’s brilliant, “The Great Degeneration.” Not sure who to support, politically? Well then. Here is a wonderful reference tool for you!
It’s a common place in many arguments: Someone points out how awful/better something [fill in the blank—dietary habits, housing, social interactions] was in the past.
There is agreement on that point. It WAS awful/better. But have these two people made an honest observation?
No. And here is why.
It is a challenge for many people to grasp the nuances of the past—or to accurately hold the facts and interpret their meaning. Hindsight is 20/20, but it is still jaundiced. Still, there are ways to measure our relationship with history. If we appraise our American past with care, it’s really interesting.
We’re in the golden age of innovation, an era in which digital technology is transforming the underpinnings of human existence. Or so a techno-optimist might argue. We’re in a depressing era in which innovation has slowed and living standards are barely rising. That’s what some skeptical economists believe.
Source for this New York Times article.
This shouldn’t really be a big surprise—and it is only one survey. But, Americans are able to vote in more ways than the seasonal pull of the lever. The wallet vote will make a big difference. rb
Given the recent record highs in the S&P 500 and the Dow Jones industrial average, you might think Americans would feel excited about the future of the stock market. But you’d be wrong, a Bankrate national survey has found.