Consider the exasperation of a CEO when their top team is underperforming. “Why is this happening?” they ask. Dig down and the answer is that leaders get the teams they deserve. The team’s dynamics are a reflection of the leader. In the C-suite this can mean that the top team is dominated by the CEO. They spend their time […]
In the early twentieth century, most American public companies had a partner or director from a top-ranked investment bank on their boards. Market participants generally believed that the banker-directors of that era monitored company management on behalf of outside investors, and the privileged information the bankers obtained in their directorships enabled them to distribute their clients’ securities on more […]
The US-President has signed an executive order which directs the US Treasury department to revise financial regulation, especially the Dodd-Frank Act. But starting a regulatory competition with the EU will endanger global financial stability.
The Dodd-Frank Wall Street Reform and Consumer Protection Act was initiated under the Obama administration as a response to the Global Financial Crisis. President Trump argues […]
The Cold War from 1948 to 1991 polarised opinion between advocates of capitalism and supporters of Soviet-style socialism. But after the fall of the Berlin Wall the conversation became more variegated. There was a remarkable growth in the literature on ‘varieties of capitalism’ including works by Michel Albert (1993), Colin Crouch and Wolfgang Streeck (1997), Bruno Amable (2000), Masahiko […]
Speaking in 1941, a renowned businessman said “I believe that every right implies a responsibility; every opportunity, an obligation; every possession, a duty.” While John D Rockefeller was speaking at a time when the likes of drones, driverless cars and virtual reality were distant dreams and works of fiction – the central tenet of the quote is firmly applicable […]
Incentive schemes, which rely on monitoring technologies, are becoming increasing popular as a means to foster productivity in public sector organisations. A legitimate question to ask is whether they improve service delivery or, instead, they force already motivated workers to waste time dealing with monitoring/reporting systems.
Two examples help us understand the kind of situations we have in mind. First […]
The Limits of the Market: The Pendulum between Government and Market. Paul de Grauwe. Oxford University Press. 2017.
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Perhaps it still needs to be said, but all states’ governments balance off the practice of government and the use of markets as allocation mechanisms. Indeed, we might also confirm that we appreciate that markets are constituted by law and, […]
Sovereign credit rating decisions taken by major agencies such as Moody’s, Standard & Poor’s (S&P) and Fitch are often considered a ‘black box.’ Empirical analysis has concluded that up to 40 per cent of credit rating decisions cannot be explained by economic fundamentals.
This is not a trivial issue because sovereign credit ratings provide a measure of the probability that […]
Shadow banking has become a systemic pillar of global finance. A typical map shows a complex network of shadow entities such as highly levered off-balance-sheet vehicles, broker-dealers, private equity firms, money market funds or hedge funds. Yet (large) regulated banks also moved in the shadows, driven by a combination of yield, regulatory and tax arbitrage in order to engage […]
It was a dystopian revelation straight out of Orwell: The hyper-connected “smart TV” that lets you binge-watch your favourite Netflix or Amazon series at the touch of the remote has other capabilities that aren’t quite spelled out in the user’s guide. Like allowing the government to snoop on your conversations.
The news, contained in a trove of CIA documents released […]
How to shape the future of work
In November 2016, the German Federal Ministry of Labour and Social Affairs, headed by social democrat Andrea Nahles, published the white paper “Work 4.0”. It’s the result of an 18-month dialogue process mapping out the challenges for the world of labour and injecting policy proposals in the political debate. The dialogue involved a wide […]
Say “Internet of Things” (IoT) and most people will think of the many connected products you hear about every year at the Consumer Electronics Show in Las Vegas — from refrigerators that tell you when to buy milk, to smart pillows that lull you to sleep with music, then vibrate to wake you up when you’re snoring.
Indeed, cool gadgets […]
It is not uncommon today, in both non-profit and for-profit organisations, for servant leadership to be used as a term to speak well of current leaders or to describe what is expected of future leaders. After all, if an organisation values their employees or demonstrates concern for its customers or community, isn’t this servant leadership? It may well be, […]
Fact and Fiction in Global Energy Policy: 15 Contentious Questions. Benjamin J. Sovacool, Marilyn A. Brown and Scott V. Valentine. Johns Hopkins University Press. 2016.
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Global energy policy has become the focus of intense public debate and contention. For much of the twentieth century, energy policy was primarily about how to secure a steady supply, most of it […]
Recent days have seen a flurry of activity and pronouncements on the status, rights and future migration prospects of EU citizens in the UK: not just the Lords’ vote to amend the ‘Brexit bill’ to ‘guarantee the rights’ of currently resident EU citizens irrespective of Brexit, but reports from the Commons ExEU and Lords EU Home Affairs parliamentary committees. That’s even before the […]
The toxic effects of racism can extend well beyond the target. Our research reveals that, like second-hand smoke, the negative effects of racial discrimination at work can affect third-party bystanders. This is called ambient racial discrimination, and it includes a range of workplace experiences, such as directly witnessing racial discrimination aimed at others, hearing about racist incidents, seeing graffiti or […]
Something regarding big data has recently changed in Brussels which business should take note of. This usually prefaces news of ramping up EU data protection rules, such as the recent Data Protection Regulation, which are not universally welcomed in business circles. In particular, companies coming from the more permissive environment of the US are faced with a sea change […]
Countless times top managers newly appointed to a company immediately announce a better future for their stakeholders, one they declare with conviction will be notably different from the past. Many want to distance themselves from what came before, which they were not part of and in any case cannot change. So they direct attention forward by promising: “We can […]