The Paradox of Globalisation

Chapter 5 The Paradox of Globalisation Barbara Ridpath Introduction Globalisation has gone from praised to pilloried. Throughout most of the post-war era, international trade has been seen largely as a ‘good’. The advantage to both parties of trading was based largely on Adam Smith’s description of comparative advantage in the (...)

Capitalism’s Great Divide: The Two Sides of Self-Interest

Chapter 4 Capitalism’s Great Divide: The Two Sides of Self-Interest Tim Weinhold Adam Smith probably tops history’s list of influential teachers with the most followers who largely misunderstood their teacher’s message. As we all know, Smith is widely viewed as the father of capitalism, based on his 1776 book, The (...)

Recovering Moral Purpose in Capitalism

Recovering Moral Purpose in Capitalism Richard Turnbull Introduction Capitalism is a complex word, even inadequate. Marxism uses the term in contrast to ‘labour’ (with the assumption that the accumulation of capital can only be at the expense of labour, a zero-sum game). Economic theory holds capital to be one of (...)

Re-imagining Capitalism for the 21st Century

Re-imagining Capitalism for the 21st Century Chris Pinney Introduction Few would disagree that capitalism is the most powerful economic system humanity has developed. Capitalist societies have experienced unprecedented economic and social progress, creating the highest standard of living the world has ever seen. It is the principles behind capitalism, such (...)

Instilling Values in Business

By Brian Griffiths

Instilling Values in Business Lord Griffiths of Fforestfach I am a great admirer of Alasdair MacIntyre. He is one of the world’s greatest living philosophers, invariably provocative and controversial but never without interest or depth of thought. A few years ago he gave a lecture with the arresting title ‘The (...)

Is the Non-Executive Director Worth Saving? (5/5)

Conclusions and Recommendations If these observations are accurate, NEDs face such potentially severe liabilities, and the mismatch of expectations is so great, that there will be problems in recruitment and retention as well as more serious issues. A role may have been undermined that serves business and society with high (...)

Is the Non-Executive Director Worth Saving (4/5)

What Do We Really Want from a Non-Executive Director? The public narrative around NEDs illustrates a real tension between a proper desire to hold directors to account and a lack of understanding of the nature and complexity of the NED role. Complaints about ‘cosy clubs’, ‘asleep at the wheel’ or (...)

Is the Non-Executive Director Worth Saving? (3/5)

The Companies Act and Directors What expectations are set out in law in respect of directors? The legal provisions are found in sections 170–177 of the Companies Act 2006. Section 172 is intended to clarify the wider expectations and responsibilities relating to a director, who must act in ‘good faith’, (...)

Is the Non-Executive Director Worth Saving? (2/5)

How Have We Got Here? The current debates around the roles, responsibilities and liabilities of NEDs are not occurring in a vacuum: as recently as October 2023 the Insolvency Service’s disqualification action against the NEDs of Carillion (on behalf of the Secretary of State) was dropped a few days before (...)

Nigel Biggar: Does Theology Have a Role in Public Life?

How ‘Secular’ is the Public Square? Habermas versus Augustine There is a view that the public square is ‘secular’ and that therefore religious believers should leave their baffling theology at home and learn to speak sensible, non-theological language in public. One well-known expression of this view came from the eminent (...)

Markets and the Environment (Conclusion)

Conclusion In the next decades increasing shares of personal and societal wealth willbe spent mitigating environmental harms. These harms are often blamed on the ramifications of the market system. To some extent this is true but the complaints too often ignore the human betterment deriving from the activity that results (...)