David F. Ruccio — Capitalism and punishment

The danger in looking only at economic statistics and not social and political ones as well to assess the results of economic institutions and policy. Interestingly, this is usually done from the capitalist frame with respect to non-capitalistic systems in order to criticize them. But the same standard is not applied in reverse.

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Capitalism and punishment
David F. Ruccio | Professor of Economics, University of Notre Dame

McKinsey — Reimagining capitalism to better serve society

Is capitalism still creating prosperity and well-being for the many? That’s a central question behind Re-Imagining Capitalism (Oxford University Press, November 2016), a book coedited by McKinsey’s global managing partner, Dominic Barton; York University’s Schulich School of Business dean, Dr. Dezsö J. Horváth; and Matthias Kipping, Richard E. Waugh chair of business history at the Schulich School. In this video interview, Horváth speaks with McKinsey’s Rik Kirkland about the various forms of capitalism around the world, how societal well-being is strongly linked to enhanced competitiveness and productivity, and how a new generation of students wants to ensure that economic priorities meld well with societal needs.

Video and transcript.

Note: "Societal well-being" is called "social welfare" in economics, political science, and sociology, but "welfare" has been tarred with a negative connotation by its opponents. The new term is "well-being."

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Reimagining capitalism to better serve society