On the 250th anniversary of The Wealth of Nations, this article explores how Adam Smith’s insights on ownership and incentives illuminate capitalism’s next evolution. Expanding employee ownership—without undermining shareholder governance—could reconnect productivity, responsibility, and prosperity in modern corporations. It could also be pivotal in rescuing our political democracy.
The battle over Main Street Investors could determine the future of the American economy for decades to come. According to Cydney Posner of Cooley PubCo, on one side are those who believe investors must focus on maximizing financial return and management knows best. On the other side are those who want to broaden the focus […]
The Rise and Fall of Homo Economicus: The Myth of the Rational Human and the Chaotic Reality by Yannis Papadogiannis deserves wide circulation for documenting the failed state of economics as science. Humans are a far cry from the rational creatures mainstream economics assumes. Economics as a science will never be as mathematically precise as Newtonian […]