CEMEditor

This paper is part of a series of essays that seek to explore the current and prospective impact of AI on business. A PDF copy of this paper can be accessed here.   The advent of Generative AI is challenging and redefining the world of work. While exacting data on its impact remain at a nascent stage, a growing number of private firms and research organisations have been quick to impart their early predictions. McKinsey & Co. estimates that Generative AI could add as much as $4.4 trillion to the…

  Ethical foundations for a market economy

“Capitalism Without Capital” is an ambitious attempt to go beyond the regular quasi-investment-type advice and explore some of the more profound trends that have occurred in the macro landscape of (mostly) developed western markets. The book hones in on one such major trend, that is, the gradual growth and influence of intangible assets in company valuations and their subsequent effects on equity valuations and the broader economy. The overarching thesis of the book is that “…there is something fundamentally different about intangible investment, and that understanding the move to intangible…

In the UK at least, the public image of the private equity industry is not good: those involved in it are widely regarded as a secretive, avaricious, immoral plutocracy that needs to be reined in. One may, however, wonder how many people know enough about the industry to be able to assess it properly, and how many realise that the technological revolution of the past 50 years would not have happened without the capital provided by venture capitalists to thousands of companies, including household names such as Intel, Apple, Cisco,…

Robert White is dean of faculty and assistant professor of philosophy at the American University in Bulgaria. He was previously Chair and dean of the Faculty of Business. He teaches courses on business ethics and the philosophy of capitalism and has previously written on Adam Smith and also on aspects of the idea of profit. He is thus well-qualified to write on the moral case for profit maximization. The book consists of 7 chapters, but in reality is a book of two halves around the pivotal chapter 4 which provides…

Join us for this episode of the CEME video podcast where our host Graeme Leach interviews Dr Andrew Lilico. Dr Andrew Lilico is Executive Director and Principal of Europe Economics. He has over 15 years’ experience of providing expert economic advice to clients around the world. Andrew has previously been the Chief Economist of Policy Exchange and has also worked for University College London, the Adam Smith Institute, the Institute of Directors and the Institute of Fiscal Studies.     Full video available below:          

Join us for this episode of the CEME video podcast where our host Graeme Leach interviews Prof. Philip Booth. Philip Booth is Professor of Finance, Public Policy and Ethics at St Mary's University, Twickenham where he also serves as the Director of Catholic Mission. He teaches and researches in fields related to economics, political economy, business ethics, and Catholic social teaching. He also works for the Catholic Bishops' Conference of England and Wales as Director of Policy and Research. He sits on the Shadow Monetary Policy Committee.   Full video…

We were delighted to host a joint event on the 30th November 2023 between the Centre for Enterprise, Markets & Ethics (CEME) and the Las Casas Institute for Social Justice (Blackfriars Hall, University of Oxford), on the theme of “Finance for the Common Good”. Our speakers addressed a range of issues such as the interplay between finance, greed and morality, a history of local banking, the role of Catholic Social Teaching, and the relationship of the corn laws, Brexit and the Common Good.   Our panel of speakers were: Edward…

At first glance some readers (myself included), might be mistaken to assume that Faith Driven Investing is another “how to” guide on ethical investing – it is not. In fact, the book has very little to say about investing per say and rather focuses on the “faith driven” investors themselves and the wider role of the Christian faith: What makes a Christian investor? What drives them? How do they influence change? How should a Christian think about risk? How are Christians in the financial sector or in business called to…

Global Discord does not fit neatly into any of the categories of book that are reviewed on this website. It is not primarily a book about business, capitalism or wealth and poverty. In fact, it is not primarily about economics. However, its focus is on something of crucial importance to all of these things: the global political order. Its author, Paul Tucker, the former Deputy Governor of the Bank of England, suggests that “the deep architecture of the international economy [is] influx for the first time in decades” (page 3)…

Ran Abramitzky and Leah Boustan provide a compelling, data-driven account of the multigenerational progress of immigrants to the United States in Streets of Gold: America’s Untold Story of Immigrant Success. This book is the result of years of research using ancestry.com data to provide clear evidence on a topic that is often spoken about with references to myths or ideological beliefs. This highly engaging and accessible book offers a blend of this pioneering original research (which yielded the two economic historians multiple articles published in leading economics journals) and the…