Tag Archives: Capitalism

China’s Smog Can’t Compete With London’s Pea Soup

By Stephen Mihm – Like so much having to do with China’s economy, this environmental degradation seems unprecedented. It isn’t.

One of the defining features of industrial revolutions past and present is the shift to fossil fuels such as coal, particularly in urban centers. Much like contemporary China, England became an economic powerhouse by relying on cheap coal to power its factories as well as to heat and illuminate the cities that would become crucibles of industrial capitalism: Manchester, Birmingham and above all, London.

Some creatures even adapted to the changed environment. The peppered moth, for example, which was white with gray flecks, evolved via a process that scientists dubbed “industrial melanism.” By the 1890s, almost 98 percent of the moths had switched colors. more> http://tinyurl.com/o4upumt

The fundamental flaws of capitalism

By Joseph S. Diedrich – The idea of capitalism is so riddled with flaws that it’s not even funny.

For starters, capitalism reduces prices. By necessity, producers must compete with other producers for business. Without sacrificing quality, they must make their good or service more attractive to potential customers. If prices continuously drop, though, how will there be any money to pay workers?

Capitalism benefits both the poor and the rich. Indiscriminately. The distribution of wealth based on achievement needs to be recognized for the sham it truly is. Capitalism doesn’t care who you are. It only cares about what you do. Unfortunately, however, that means you must do something. more> http://tinyurl.com/m3mwn8q

The Capitalist’s Case for a $15 Minimum Wage

By Nick Hanauer – The fundamental law of capitalism is that if workers have no money, businesses have no customers. That’s why the extreme, and widening, wealth gap in our economy presents not just a moral challenge, but an economic one, too. In a capitalist system, rising inequality creates a death spiral of falling demand that ultimately takes everyone down.

An economy such as ours that increasingly concentrates wealth in the top 1 percent, and where most workers must rely on stagnant or falling wages, isn’t a place to build much of a pillow business, or any other business for that matter. more> http://tinyurl.com/kuem9dk


China May Not Be A U.S. Ally, But It’s Also Not An Adversary

By Ali Wyne – Of the foreign-policy challenges that will confront the president of the United States on January 20, 2013 few are as complex and consequential as managing the ongoing rise of China—a continental country that will soon have the world’s largest economy and, within three decades, could be the world’s largest defense spender.

It is difficult to imagine a more different pair of countries that must accommodate one another.

The competitive dimension of their relationship is not particularly ideological. There is, to be sure, a pronounced gap between their core values, but it is not as stark as the slogans “capitalist vs. communist” and “democratic vs. authoritarian” suggest. Instead, China fuses state capitalism with adaptive authoritarianism. Despite the power of its state-owned enterprises, it is taking incremental, but important, steps to liberalize. more> http://tinyurl.com/d8cccpr

Global Drucker Forum Foments A Revolution In Capitalism

By Steve Denning – Among many other speakers, Roger Martin, Dean of the Rotman School of Management, will discuss the shift from maximizing shareholder value to customer capitalism. He will talk about: what went wrong with capitalism? Can it be reformed? What are the main axes to pursue?

My own contribution comes in an article on the Global Drucker Forum this morning, “The Revolutionary Tenets of Management 2.0”. more> http://tinyurl.com/8ejc7cd