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Author: Jefferson Frank
Publisher: Routledge
ISBN: 1317594150
Category : Business & Economics
Languages : en
Pages : 223
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Book Description
After the ‘financial crisis’ and ‘Great Recession’, some have called for replacing standard economic theory by heterodox models based upon behavioural approaches. The Responsible Economy argues that there is nothing wrong with economic theory. Instead, the problem has been a ‘devil’s pact’ of simplistic pro-market economics combined with simplistic Keynesian monetary policy. This book revisits the fundamental theorems in economics that state the conditions for markets to achieve efficiency. It has long been known that there are limitations of markets in dealing with externalities, increasing returns to scale and monopoly. The role of information in the economy was developed in economic theory in the 1970s onwards and in a world of imperfect and asymmetric information, markets perform poorly. Managers of firms engage in short-termism, take on excessive risk and misstate their own and their firm’s performance. While finance theory makes clear that much of the activity in the financial services sector is of no economic value and represents wasteful ‘financial engineering’. In this real world, it is economically inefficient for firms to maximise shareholder value. On the macroeconomics side, monetary expansion cannot be an effective substitute for addressing real problems of infrastructure and education investment. This book maintains that markets work best if individuals and firms behave ethically and responsibly. Employment should be a long-term relationship; firms should pay living wages, produce good products at a fair price, and pay their share of taxes. Where these standards don’t hold, governments should not try to micromanage through regulation, but set up simple and straightforward policies.
Author: Jefferson Frank
Publisher: Routledge
ISBN: 1317594150
Category : Business & Economics
Languages : en
Pages : 223
Get Book Here
Book Description
After the ‘financial crisis’ and ‘Great Recession’, some have called for replacing standard economic theory by heterodox models based upon behavioural approaches. The Responsible Economy argues that there is nothing wrong with economic theory. Instead, the problem has been a ‘devil’s pact’ of simplistic pro-market economics combined with simplistic Keynesian monetary policy. This book revisits the fundamental theorems in economics that state the conditions for markets to achieve efficiency. It has long been known that there are limitations of markets in dealing with externalities, increasing returns to scale and monopoly. The role of information in the economy was developed in economic theory in the 1970s onwards and in a world of imperfect and asymmetric information, markets perform poorly. Managers of firms engage in short-termism, take on excessive risk and misstate their own and their firm’s performance. While finance theory makes clear that much of the activity in the financial services sector is of no economic value and represents wasteful ‘financial engineering’. In this real world, it is economically inefficient for firms to maximise shareholder value. On the macroeconomics side, monetary expansion cannot be an effective substitute for addressing real problems of infrastructure and education investment. This book maintains that markets work best if individuals and firms behave ethically and responsibly. Employment should be a long-term relationship; firms should pay living wages, produce good products at a fair price, and pay their share of taxes. Where these standards don’t hold, governments should not try to micromanage through regulation, but set up simple and straightforward policies.
Author: Rob Dietz
Publisher: Routledge
ISBN: 0415820936
Category : Business & Economics
Languages : en
Pages : 248
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Book Description
This powerful book sets out arguments and an agenda of policy proposals for achieving a sustainable and prosperous, but non-growing economy, also known as a steady-state economy. The authors describe a plan for solving the major social and environmental problems which face us today on a finite planet with a rapidly growing population.
Author: Raymond W Y Kao
Publisher: World Scientific
ISBN: 9814467502
Category : Business & Economics
Languages : en
Pages : 446
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Book Description
This book explains how corporate social responsibility is linked to long-term sustainability of an economy and that the activities of an organization should not be only for its self-interest, but must also be honed for the benefit of common good. A major approach the book advocates is corporate decision-makers in an organization should work towards earning the trust of stakeholders rather than focus on short-term profitability. It also emphasizes the importance of recognizing and rewarding the contribution and commitment by participants of an organization.Written by academics and consultants, this book will be of interest to academicians, media professionals, organizational participants, entrepreneurs and general public./a
Author: Davide Vasello
Publisher: Youcanprint
ISBN: 8892691147
Category : Business & Economics
Languages : en
Pages : 103
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Book Description
Following a brief examination of the main cause of the current economic downturn, namely the unequal distribution of wealth, the book individuates as a possible way to move forward out of the crisis that of pushing businesses to assume a more socially responsible conduct. But it is not up to the class of workers, disenfranchised by the process of globalization, to demand this more ethical conduct from businesses, it is up to another class: that of consumers. If they were to become more fully aware of their power to make a difference, with the adoption of various tools to help them exercise a more conscious consumption, they would be able to motivate companies in more ethical business practices, which would then lead to the substantiation of a Responsible Economy. A change of course in the conduct of businesses, as well as desirable for the redistribution of created wealth in the community, is entirely necessary due to the environmental and energetic unsustainability of the current neoliberal model, as based on an obsolete indicator such as GDP.
Author: Bob Massie
Publisher: Patagonia
ISBN: 1938340353
Category : Business & Economics
Languages : en
Pages : 29
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Book Description
We at Patagonia, like all business people, know that long-term income has to exceed long-term expense. To do otherwise is to go bankrupt, as Ernest Hemingway described,in the usual two ways: “Gradually, then suddenly.” Today we are using the equivalent resources of one and a half planets, yet we live on only one. All the indicators of earthly health are in decline: of water, air, arable land, fisheries and biodiversity. How do we reverse this decline in the quality of life (and attendant climate change) before it becomes sudden catastrophe? Most conversations addressing that question hone in on technological solutions. Each year we attend sustainability conferences where the talk centers on innovation as the way to lower resource use and waste. But at these conferences, among decent people doing their best, there is always an elephant in the room, concealed behind a curtain few are willing to draw to the side. The elephant is growth-based capitalism, and the assumption that a growth economy equals prosperity and a healthy society. Yet we know we must consume less, and far more slowly – as well as innovate as quickly and ingeniously as we can. What is a responsible economy? One that allows healthy communities, creates meaningful work, and takes from the earth only what it can replenish—one where all the indicators of health start to improve. What would make up this economy? What could a responsible economy look like? That’s the question we’ll explore with ourfriends and customers during the coming seasons.
Author: Strange Tracey
Publisher: OECD Publishing
ISBN: 9264055746
Category :
Languages : en
Pages : 146
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Book Description
A succinct examination of the concept of sustainable development: what it means; how it is impacted by globalisation, production and consumption; how it can be measured; and what can be done to promote it.
Author: Colin Crouch
Publisher: Oxford University Press
ISBN: 0199592179
Category : Business & Economics
Languages : en
Pages : 312
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Book Description
The book examines the issue of corporate social responsibility from a public policy perspective, considering the implications of corporations' involvement in global economic governance.
Author: Onyeka Osuji
Publisher: Cambridge University Press
ISBN: 1108472117
Category : Business & Economics
Languages : en
Pages : 485
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Book Description
A valuable interdisciplinary resource examining the concept and effectiveness of CSR as a tool for sustainable development in emerging markets.
Author: Florence Touzé
Publisher: Routledge
ISBN: 1000071537
Category : Business & Economics
Languages : en
Pages : 157
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Book Description
This book is a manifesto for responsible marketing. Taking a critical look at marketing practices of the last 50 years, it explains why they have led to an ethical stalemate and sometimes even a business impasse. Exposed to such practices, consumers have grown tired of meaningless offers coupled with the destruction of value as prices are driven down. As a result, today’s marketing professionals find themselves in the firing line of a combat focused on greater social responsibility and environmental sustainability. Thanks to new ways of understanding consumers and branding, this book suggests how such a challenge can be met. Through the presentation of experiences, studies and concrete cases, the reader gains a tangible, fresh perspective on marketing: a new global, responsible, creative and collaborative model that helps respect sustainable consumption. Implicative Marketing presents a paradigm shift, one that will be of considerable interest not just to academics and their students, but also to marketing practitioners.
Author: Umar Burki
Publisher: Routledge
ISBN: 1000421503
Category : Business & Economics
Languages : en
Pages : 393
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Book Description
This book addresses current practices related to sustainable development, its challenges and the future. People belonging to different genders regardless of their age, social class and education should be equal as citizens and individuals, and identical in their rights and responsibilities. The business sector, authorities, societies and religious circles have the potential to play a fundamental role in curbing social ills and the degradation of the environment in this modern world. The authors of this book argue that without good governance, the status of a human being is unlikely to improve. They make the case that to achieve sustainability, government, society and the economy must ensure a platform for people to participate in decision-making and benefit from the rights they are accorded. By covering a range of perspectives across economic, social and moral life, the book will shed light on the problems and possible solutions to sustainable development and the triple bottom line, of people, planet and profit, under the umbrella of morals and divine law. This will be a useful guide for undergraduate and postgraduate students across multiple disciplines, such as economics, religious studies, business studies, political science, anthropology and sociology.
