Gallery

The Sustainabilist View of Capitalism

This gallery contains 4 photos.

We offer a new equation for managing the world’s economies by valuing Natural Capital as the primary capital that Human Capital “values” into Financial Capital.  The full presentation can be found on SlideShare. The simple equations are presented below: ___________________________________________________________________________________________ … Continue reading

Tagged , , , , , , , , Leave a comment
Gallery

Is Adam Smith The Founding Father of Sustainability?

This gallery contains 2 photos.

When I was working on my MBA in Sustainable Enterprise back in 2007 I remember the first time that Adam Smith popped into my consciousness.  It was a typical Sunday afternoon class. We’d been in classes since Friday morning at … Continue reading

Tagged , , , , , , , , , , , , 3 Comments

Review: Russ Roberts’ ‘How Adam Smith Can Save Your Life’ | Washington Free Beacon

Share on Twitter

Review: Russ Roberts’ ‘How Adam Smith Can Save Your Life’ | Washington Free Beacon.

Smith’s moral philosophy, found in his first book, The Theory of Moral Sentiments, was one that emphasized the moderate, or bourgeois virtues, — “prudence, restraint, industry, frugality, sobriety, honesty, civility, and reliability” — virtues that are built into men and women by “the experience of life in society, and the modest sympathy and conscience that develop through that experience.”

Tagged , , , , , , , Leave a comment

Russ Roberts: Adam Smith’s Surprising Guide to Happiness (But Not Wealth) – Reason.com

Share on Twitter

Russ Roberts: Adam Smith’s Surprising Guide to Happiness (But Not Wealth) – Reason.com.

 

 

Leave a comment

Review of How Adam Smith Can Change Your Life :: The Future of Capitalism

Share on Twitter

Review of How Adam Smith Can Change Your Life :: The Future of Capitalism.

The rest of the book proceeds as an accessible gloss on Smith’s Theory of Moral Sentiments. “Life’s not a race. It’s a journey to savor and enjoy,” Roberts writes. He quotes Smith as observing that, “We frequently see the respectful attentions of the world more strongly directed towards the rich and the great, than towards the wise and the virtuous.” It’s not that wealth and virtue are mutually exclusive, as some of today’s campaigners against inequality would have us believe. But neither are they the same thing. (This, too, incidentally, is a point that Samuel Adams made, complaining about his wealthy political ally and sometimes rival John Hancock: “So fascinating are riches in the eyes of mankind!” Adams wrote, somewhat disapprovingly.)

Mr. Roberts writes: “There are two ways to be loved, to satisfy the desire we all have in us to be noticed and to be somebody. The first path is to be rich, famous, powerful. The second path is to be wise and virtuous.”

Leave a comment

5 Myths Socially Conscious Entrepreneurs Need To Ignore | Fast Company | Business + Innovation

Share on Twitter

5 Myths Socially Conscious Entrepreneurs Need To Ignore | Fast Company | Business + Innovation.

 

MYTH #1: IMPACT INVESTING IS A FANCY TERM FOR GIVING MONEY AWAY.

Reality: Smart companies understand purpose and profitability go hand in hand.

MYTH #2: ENVIRONMENTAL AND SOCIAL WELFARE ARE THE GOVERNMENT’S RESPONSIBILITY.

Reality: Businesses taking a holistic approach to growth unlock unrecognized value and create competitive advantages.

MYTH #3: THE POINT OF CORPORATE SUSTAINABILITY IS TO IMPROVE REPUTATION–ANYTHING MORE HURTS SHAREHOLDERS.

Reality: Sustainable companies outperform their unsustainable counterparts.

MYTH #4: IT’S HUMAN NATURE TO PRIORITIZE PROFIT OVER SUSTAINABILITY.

Reality: Consumers are more educated than ever about sustainability and corporate values, and they’re voting with their money.

MYTH #5: STAKEHOLDER CAPITALISM IS A CHOICE.

Reality: Stakeholder capitalism is vital to an industry’s continued survival.

Leave a comment

Taking On Adam Smith (and Karl Marx) – NYTimes.com | Talk & Politics

Share on Twitter

Taking On Adam Smith (and Karl Marx) – NYTimes.com | Talk & Politics.

“To put it bluntly, the discipline of economics has yet to get over its childish passion for mathematics and for purely theoretical and often highly ideological speculation, at the expense of historical research and collaboration with the other social sciences. Economists are all too often preoccupied with petty mathematical problems of interest only to themselves. This obsession with mathematics is an easy way of acquiring the appearance of scientificity without having to answer the far more complex questions posed by the world we live in. There is one great advantage to being an academic economist in France: here, economists are not highly respected in the academic and intellectual world or by political and financial elites. Hence they must set aside their contempt for other disciplines and their absurd claim to greater scientific legitimacy, despite the fact that they know almost nothing about anything.”

Economic theorists and observational types continue to view the science only within the perspective of human populations.

Smith wrote in The Theory of Moral Sentiments (1759), “The produce of the soil maintains at all times nearly that number of inhabitants which it is capable of maintaining.” This limit to growth is based in natural capital, the only form of capital that we share equally; i.e. an underdeveloped country breathes the same air as the most highly developed.

If we gave Smith a fresh look by including all his works I believe we’d view our economic framework in the context of natural capital as the most fundamental.

1 Comment