Given the identity crisis of capitalism, it is timely to highlight once again the proven record of capitalism in destroying poverty and creating shared prosperity—which alternative systems such as socialism have repeatedly failed to achieve.
When the European Union decided to fine Apple €13.5 billion for tax evasion in Ireland last week, it didn’t take long for the Irish government to join with Apple to announce it would appeal the ruling.
The alignment between the tech giant and a...
An opinion poll published last week reveals a political division cutting across traditional party loyalties and pointing to a possible populist rejection of economic openness.
Democracy has always had a rather fraught relationship with the market. As Aristotle first recognised, some wealth sharing can help rectify inherited inequality and so enhance political life; but it also has the potential to promote greed, doing great violence to the civic fabric....
Public discussion about the dramatic rise of UBER is often themed as a titanic struggle between old-fashioned expensive taxi companies and a new digital upstart. UBER usually comes out on top because it's new, cool and part of the ‘sharing economy’.
But legal academic...
In 2014, French economist Thomas Piketty's book, Capital in the Twenty-First Century, documented an upsurge in inequality of income and wealth, most notably in the United States and the United Kingdom. Other English-speaking countries have followed this trend—with the possible exception of Australia. So is...
John Kenneth Galbraith agreed with the Keynesian view that one day society would be in a financial position where we could work fewer hours, devote more time to leisure and where inequality would diminish. That was a view from the 1950s when he wrote his...
America’s major corporations spend money in record amounts to secure influence, but the influence they seek benefits only themselves. Was it ever thus? No, according to a new book by Mark Mizruchi, who argues that between the turn of the 20th century and the 1970s,...
The growing size and significance of investments by Sovereign Wealth Funds (SWFs) and State-Owned Enterprises (SOEs), especially those of rapidly growing Asian economies, are having a profound impact on the dynamics of markets across the world. Better understanding global state investment capital is an increasingly...