From the Free Economy to the Share Economy (tags)
n 1970 the economics Nobel Prize winner Milton Friedman argued the social responsibility of business was only maximization of its profits. This is not true any more today. The responsibility of businesses goes beyond profit maximization. More can be demanded of those with power/
Wealth is not a Private Affair (tags)
The US faces a revenue- and a war-spending crisis. The top tax rate was over 70% from 1938 to 1982; corporations put trillions in tax havens. Alternative economics emphasize profit maximizing is not profit making. In financial capitalism,Profits explode, not investments.
Profit-Making is Different Than Profit-Maximizing (tags)
Discussions of jobs and the economy are often marked by trivialization, distortion, unreality and wishful thinking, The neoliberal model promotes profits, not investments and rationalization and digitalization lead to mass unemployment. System analysis and market failure are often glossed over
How Does Justice Come to the Economy? (tags)
Economic Ethics After the Crisis (tags)
Peter Ulrich is an emeritus professor of Economic Ethics at the University of St. Gallen, Switzerland and author of Integrative Economic Ethics (2008). The economy should be embedded in society; society should not be embedded in the economy. The invisible hand is a myth to be unmasked.
The Loss of Respect of the Economic Elite is Enormous (tags)
The embedding of the market and the economy in the civil society is the challenge of the 21st century. Tax shelters or havens must be closed. The wealthiest 400 Americans have more wealth than 150 million people. Time for Plan B, alternative economics and reduced working hours!
"There is an alternative to profit maximization" (tags)
The economy should be a part of life, not a steamroller crushing creativity and self-determination. The economy should be embedded in society; society should not be privatized and confiscated by the economy. The public sector must be expanded to create jobs.
Fallen Stars: On the Greed of Bankers and a New Morality (tags)
The economic ethicist Ulrich Thielemann explains how greed, false theories and the herd instinct caused the massive financial crisis. They had the theory when we make profits that is ultimately good for everyone.
Humane Freedom and the Free Market (tags)
"MOre free market is a social-political program involving a redistribution of power and money - in favor of a few special interests of the already rich and powerful.."
Economism, Economic Ethics and Donations (tags)
Economism is the great ideology of our time. It claims that (1) resisting the market is impossible and (2) submitting to the market is best for everyone. Both are not true. Embedding the market in principles of useful-ness to life has a priority as an ordering task.
"Managers Do Not Only Serve Shareholders" (tags)
"It is not legitimate to exploit every conceivable outsourcing chance. It is not legitimate to declare jobs superfluous to realize double-digit profits.. Profit cannot be the only maxim of good entrepreneural conduct.."
Economics and Ethics: The Stakeholder Model (tags)
"Businesses cannot be reduced only to the principle of profit maximization.. Businesses are bound in a relational structure of different claimant groups including a critical public alongside the traditional economic actors.. Brent Spar is an example.."