261,407 research outputs found

    Book review: the new capitalist manifesto: building a disruptively better business

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    Nick Taylor finds the New Capitalist Manifesto’s constant positioning of “old” capitalism against “new” capitalism wholly unconvincing, despite the wealth of examples of well-meaning multi-national firms

    Minsky's Analysis of Financial Capitalism

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    In this paper, the authors discuss Minsky's analysis of the evolution of one variety of capitalism-financial capitalism-which developed at the end of the nineteenth century and was the dominant form of capitalism in the developed countries after World War II. Minsky's approach, like those of Schumpeter and Veblen, emphasized the importance of market power in this stage of capitalism. According to Minksy, modern capitalism requires expensive and long-lived capital assets, which, in turn, necessitate financing of positions in these assets as well as market power in order to gain access to financial markets. It is the relation between finance and investment that creates instability in the modern capitalist economy. Financial capitalism emerged from World War II with an array of new institutions that made it stronger than ever before. As the economy evolved, it moved from this more successful form of financial capitalism to the fragile form of capitalism that exists today.

    Future of Capitalism

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    The moral foundation of capitalism should be reconsidered. Modern capitalism is disembedded from the social and cultural norms of society and produced a deep financial, ecological and social crisis. Competitiveness is the prevailing ideology of today’s business and economic policy. Companies, regions, and national economies seek to improve their productivity and gain competitive advantage. But these efforts often produce negative effects on various stakeholders at home and abroad. Competitiveness involves self-interest and aggressivity and produces monetary results at the expense of nature, society and future generations The collaborative enterprise framework promotes a view in which economic agents care about others and themselves and aim to create values for all the participants in their business ecosystems. Their criterion of success is mutually satisfying relationships with the stakeholders. New results of positive psychology and the Homo reciprocans model of behavioral sciences support this approach. The economic teachings of world religions challenge the way capitalism is functioning, and their corresponding perspectives are worthy of consideration. They represent life-serving modes of economizing which can assure the livelihood of human communities and the sustainability of natural ecosystems. Ethics and the future of capitalism are strongly connected. If we want to sustain capitalism for a long time we have to create a less violent, more caring form of it

    Immigrants, Precarious Workforce as a Structural Necessity of Modern Global Capitalism

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    This article focuses on the socio-economic aspects of migration and migrants – economic refugees. The author presents the migrants as a precarious workforce, which is an indispensable part of modern global capitalism. In this article, the author points out that among the many factors influencing migration, the economic ones play the most crucial role. Forces released by the neo-liberal paradigm led to the global economic and social tensions. This is due to the fact that the market has become the only regulator of economic and social relations. This article is not another critique of neo-liberal doctrine, advocating for replacing capitalism by “something else.” The author believes, similarly to John Gray, that what we need is a consensus between the states on different models of capitalism, as there are different cultures

    Beyond capitalism and liberal democracy: on the relevance of GDH Cole’s sociological critique and alternative

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    This article argues for a return to the social thought of the often ignored early 20th-century English thinker GDH Cole. The authors contend that Cole combined a sociological critique of capitalism and liberal democracy with a well-developed alternative in his work on guild socialism bearing particular relevance to advanced capitalist societies. Both of these, with their focus on the limitations on ‘free communal service’ in associations and the inability of capitalism to yield emancipation in either production or consumption, are relevant to social theorists looking to understand, critique and contribute to the subversion of neoliberalism. Therefore, the authors suggest that Cole’s associational sociology, and the invitation it provides to think of formations beyond capitalism and liberal democracy, is a timely and valuable resource which should be returned to