Millennials can save the future by reinventing money

They need to reinvent the capitalist system to fully unleash that creativity and establish an economy that’s more just and balanced

Millennials can save the future by reinventing moneyIf you dare to ask, young people today will tell you their generation is screwed. Why? Because they were told, “Be creative, get an education and you can be whatever you want to be.” Oops, wrong! Struggle through a creative career and it's almost impossible to buy a home or escape from student-loan hell. In…

We need to reset capitalism before we dig a deeper hole

Milton Friedman was wrong. Paying attention to other stakeholder interests is not a diversion, it's management's job

We need to reset capitalism before we dig a deeper holeThe National Post's Terence Corcoran is a celebrated champion of free markets. In his latest post, “Milton Friedman is right, profit is a company's only purpose,” he champions one of the most controversial principles in global capitalism. Corcoran's primary fear is that “a long list of academics, consultants, business leaders and politicians – many of…

Can capitalism help save republicanism – and the United States?

It’s time to give individuals personal ownership of their data and, in essence, an equity stake in the new means of production

Can capitalism help save republicanism – and the United States?Canadians turning their gaze south are becoming increasingly concerned that the United States is descending into anarchy and despotism. Apart from the chaotic White House, the dysfunctional Congress and the astronomical public debt, American society is becoming dangerously divided as powerful forces continue their relentless concentrations of wealth and power. This is a far cry…

Economic growth and innovation crucial to fighting poverty

Raising taxes to fund spending on the poor discourages wealth creation and productive work effort, shrinking the economic pie

Economic growth and innovation crucial to fighting povertyInstead of having government take more from the rich in hopes that it will go to the poor, a far better poverty reduction strategy is to encourage economic growth and innovation. Yale University economist William Nordhaus was one of the winners of the Nobel Prize in economics this year for his work on analyzing the…

Uber’s utter disrespect for social and business norms

The economic benefits of demolishing a monopoly business practice aren’t worth the environmental and human costs

Uber’s utter disrespect for social and business normsUber is embroiled in public controversy yet again with its Twitter release of an embarrassing dash-cam video of Ottawa Senators players mocking a coach while using the ride-sharing service. The tweet of the private conversation, captured on Oct. 29 when the National Hockey League team was between games in Las Vegas and Arizona, has reportedly…

Disruption has reshaped the corporate sector

The roles of employees and their required skills are also changing. And policy-makers face critical new challenges

Disruption has reshaped the corporate sectorThe Haskayne School of Business at the University of Calgary is one of the leading business education institutions in Canada. Over the coming weeks, faculty from the school will share insights from their research that help readers understand what’s happening in our economy. Corporations evolve a lot differently today than the world’s most valuable companies…

Governments and the law of unintended market consequences

Things inevitably go off the rails when government gets involved in the marketplace

Governments and the law of unintended market consequencesI believe that the market is the best system for allocating goods and services in an economy. (I also believe that in a country as rich as Canada  no one should have to go cold or hungry, but that’s another subject.) There are many who would disagree, giving governments – through laws, regulation or fiat…

How human capital is turning our economic system on its head

The rise of the intangible economy has upset the industrial applecart, rendering many basic assumptions redundant

How human capital is turning our economic system on its headA recent New York Times article (6 Reasons That Pay Has Lagged Behind U.S. Job Growth) highlights a great mystery: persistent wage stagnation. As the U.S. job market tightens, economic theory suggests wages should rise – it's all about supply and demand. Problem is, wages in the U.S. have largely been flat for decades. Many…