do well by doing good

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Winners Take All: The Elite Charade of Changing the World by Anand Giridharadas

"Friedman doctrine" OR "shareholder theory", "World Economic Forum" Davos, activist lawyer, affirmative action, Airbnb, benefit corporation, Bernie Sanders, bitcoin, Black Lives Matter, Boeing 747, Brexit referendum, Burning Man, Capital in the Twenty-First Century by Thomas Piketty, carried interest, cognitive dissonance, collective bargaining, corporate raider, corporate social responsibility, critical race theory, crowdsourcing, David Brooks, David Heinemeier Hansson, deindustrialization, disintermediation, do well by doing good, Donald Trump, Edward Snowden, Elon Musk, fake it until you make it, fake news, food desert, friendly fire, gentrification, global pandemic, high net worth, hiring and firing, housing crisis, Hyperloop, impact investing, income inequality, independent contractor, invisible hand, Jeff Bezos, Kevin Roose, Kibera, Kickstarter, land reform, Larry Ellison, Lyft, Marc Andreessen, Mark Zuckerberg, microaggression, new economy, Occupy movement, offshore financial centre, opioid epidemic / opioid crisis, Panopticon Jeremy Bentham, Parag Khanna, Paul Graham, Peter Thiel, plutocrats, profit maximization, public intellectual, risk tolerance, rolodex, Ronald Reagan, shareholder value, sharing economy, Sheryl Sandberg, side hustle, side project, Silicon Valley, Silicon Valley billionaire, Silicon Valley startup, Skype, social distancing, Social Responsibility of Business Is to Increase Its Profits, Steven Pinker, systems thinking, tech baron, TechCrunch disrupt, technoutopianism, TED Talk, The Chicago School, The Fortune at the Bottom of the Pyramid, the High Line, The Wealth of Nations by Adam Smith, Thomas L Friedman, too big to fail, Travis Kalanick, trickle-down economics, Two Sigma, Uber and Lyft, uber lyft, Upton Sinclair, Vilfredo Pareto, Virgin Galactic, work culture , working poor, zero-sum game

What these various figures have in common is that they are grappling with certain powerful myths—the myths that have fostered an age of extraordinary power concentration; that have allowed the elite’s private, partial, and self-preservational deeds to pass for real change; that have let many decent winners convince themselves, and much of the world, that their plan to “do well by doing good” is an adequate answer to an age of exclusion; that put a gloss of selflessness on the protection of one’s privileges; and that cast more meaningful change as wide-eyed, radical, and vague. It is my hope in writing what follows to reveal these myths to be exactly that. Much of what appears to be reform in our time is in fact the defense of stasis.

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Students have also been influenced by the business world’s commandment, disseminated through advertisements and TED talks and books by so-called thought leaders, to do whatever you do “at scale,” which is where the “millions of people” thing came from. It is an era, moreover, that has relentlessly told young people that they can “do well by doing good.” Thus when Cohen and her friends sought to make a difference, their approaches were less about what they wanted to take down or challenge and more about the ventures they wanted to start up, she said. Many of them believed there was more power in building up what was good than in challenging what was bad.

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Under the terms of a new financial instrument called a “social impact bond,” it would profit if its investee, a prison education program, dramatically cut the recidivism rate. Despite such efforts to win over people of Cohen’s bent, a summer at Goldman revealed it to be not for her. It was a little far toward the “doing well” end of the “doing well by doing good” continuum. A more moderate choice, she felt, was McKinsey & Company. She liked the idea of going to a boot camp for solving problems at scale, which is how the campus recruiters framed it. The overwhelming share of McKinsey clients are corporate, but the recruiters, knowing the mentality of young people like her, played up the social- and public-sector projects.

The Green New Deal: Why the Fossil Fuel Civilization Will Collapse by 2028, and the Bold Economic Plan to Save Life on Earth by Jeremy Rifkin

"World Economic Forum" Davos, 1919 Motor Transport Corps convoy, 2013 Report for America's Infrastructure - American Society of Civil Engineers - 19 March 2013, American Society of Civil Engineers: Report Card, autonomous vehicles, Bernie Sanders, Big Tech, bike sharing, blockchain, book value, borderless world, business cycle, business process, carbon footprint, carbon tax, circular economy, collective bargaining, corporate governance, corporate social responsibility, creative destruction, decarbonisation, digital rights, do well by doing good, electricity market, en.wikipedia.org, energy transition, failed state, general purpose technology, ghettoisation, green new deal, Greta Thunberg, high-speed rail, hydrogen economy, impact investing, information asymmetry, intangible asset, Intergovernmental Panel on Climate Change (IPCC), Internet of things, invisible hand, it's over 9,000, Joseph Schumpeter, means of production, megacity, megaproject, military-industrial complex, Network effects, new economy, off grid, off-the-grid, oil shale / tar sands, peak oil, planetary scale, prudent man rule, remunicipalization, renewable energy credits, rewilding, Ronald Reagan, shareholder value, sharing economy, Sidewalk Labs, Silicon Valley, Skype, smart cities, smart grid, sovereign wealth fund, Steven Levy, subprime mortgage crisis, the built environment, The Wealth of Nations by Adam Smith, Tim Cook: Apple, trade route, union organizing, urban planning, vertical integration, warehouse automation, women in the workforce, zero-sum game

Under the surface, however, younger generations of baby boomers, Generation Xers, and millennials pushed for measuring investments by their environmental, social, and governance practices (ESG) in shareholder battles and in the administration of workers’ pension fund investments. A new phrase entered into the public dialogue around economic investments: “doing well by doing good,” a line borrowed from Benjamin Franklin. The idea was that there need not be, nor should there be, a sharp division between morally and socially good business practices and the bottom line. Rather, it was argued that this was a false dichotomy—that in reality, doing well by doing good enhances the bottom line. With this counternarrative, unions and NGOs continued to put forth shareholder resolutions at companies’ annual meetings to factor SRI into their practices.

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The new thrust has given rise to “impact investing,” providing seed money to businesses that embed ESG into every aspect of their operations. In surveys conducted across the asset market sector, Morgan Stanley repeatedly heard from interviewees who expressed their strong conviction that the very nature of investment decisions is at an inflection point in the industry due to a shift in the kind of investments clients demand. “Doing well by doing good” has become the new mantra. Is the enthusiasm justified? A spate of in-depth studies over the past two years, including studies prepared by Harvard University, the University of Rotterdam, and Arabesque Partners and Oxford University, show that companies with a strong ESG presence across their value chains tend to outperform their competitors, in part due to their commitment to greater aggregate efficiencies, less waste, circularity built into their supply chains, and a low carbon footprint, all of which increase their bottom line profit, and each of which is tied to their shift away from a fossil fuel civilization and into a green era.3 Rather obvious.

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Generally, the ESCO will receive the lion’s share of the harvested energy as well as energy efficiencies attained—usually 85 percent—until the company’s investment is fully returned and the contract terminated, after which the client receives all future benefits.47 The city, county, or state, in return, ends up with a smart, efficient low-carbon infrastructure without liability for either the capital investment or any financial losses incurred during the project. Socially responsible pension funds committed to doing well by doing good are the appropriate financing mechanism for ESCOs engaged in green energy production and energy savings build-outs. ESCOs operate in the private realm as well as the public realm. Privately held residential real estate and particularly low- and moderate-income housing, older commercial business districts, which are often in disadvantaged communities, and industrial and technical parks will have to transition their infrastructures into a green Third Industrial Revolution paradigm.

How to Kill a City: The Real Story of Gentrification by Peter Moskowitz

"Hurricane Katrina" Superdome, affirmative action, Airbnb, back-to-the-city movement, Bay Area Rapid Transit, Big Tech, Black Lives Matter, Blue Bottle Coffee, British Empire, clean water, collective bargaining, company town, David Brooks, deindustrialization, Detroit bankruptcy, do well by doing good, drive until you qualify, East Village, Edward Glaeser, fixed-gear, gentrification, Golden Gate Park, housing crisis, housing justice, income inequality, Jane Jacobs, Kickstarter, Kitchen Debate, land bank, late capitalism, messenger bag, mortgage tax deduction, Naomi Klein, new economy, New Urbanism, off-the-grid, private military company, profit motive, public intellectual, Quicken Loans, RAND corporation, rent control, rent gap, rent stabilization, restrictive zoning, Richard Florida, Ronald Reagan, school choice, Silicon Valley, starchitect, subprime mortgage crisis, tech worker, The Death and Life of Great American Cities, the High Line, trickle-down economics, urban planning, urban renewal, white flight, working poor, Works Progress Administration, young professional

Chapter 4: The New Detroit Since then, at least fifteen development projects: David Muller, “A Closer Look at Dan Gilbert’s Plans for Capitol Park in Downtown Detroit,” MLive, April 2, 2013. he now owns at least eighty buildings downtown: J. C. Reindl, “Dan Gilbert’s Bedrock Buys 3 More Buildings Downtown,” Detroit Free Press, January 20, 2016. “Do well by doing good”: CBS News, “Developer Buying Real Estate in a Downtrodden Detroit Says He Is ‘Doing Well by Doing Good’ in an Effort to Revitalize the City—60 Minutes,” press release, October 11, 2013; see also Dan Gilbert interview with Bob Simon, “Detroit,” 60 Minutes, CBS News, October 13, 2013. He’s hailed by business leaders, city officials: Tim Alberta, “Is Dan Gilbert Detroit’s New Superhero?”

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He personally chose Detroit Bikes as a tenant in the Albert. Gilbert’s mission, he says, is not only to make hundreds of millions of dollars on Detroit’s cheap real estate but also to transform Detroit’s downtown into a world-class destination for tourists, businesses, and especially young people. As his favorite motto goes: “Do well by doing good.” That mission has made him a lightning rod in the city. He’s hailed by business leaders, city officials, and the local and national media (one article even called him a superhero). He’s also criticized by activists for turning Detroit into somewhat of an oligarchy in which he and a few other powerful people control its redevelopment, especially downtown, which locals now often refer to as “Gilbertville.”

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In the parlance of new Detroit, Zak Pashak isn’t just creating expensive bikes, he’s making sure people here are being lifted up by the rising tide of bicycle manufacturing. Phil Cooley isn’t just a profiteer, he’s participating in the burgeoning democracy of Detroit. Dan Gilbert’s favorite business phrase—“Do well by doing good”—seems to be the official slogan of the new Detroit, embraced by hundreds of young white entrepreneurs who believe they’re not only making money but helping rescue an entire city. That’s why speaking with Midtown Inc.’s Sue Mosey was refreshing. She can talk about the profit motive of the new Detroit without resorting to euphemisms for trickle-down economics.

Business Lessons From a Radical Industrialist by Ray C. Anderson

"Friedman doctrine" OR "shareholder theory", addicted to oil, Alan Greenspan, Albert Einstein, An Inconvenient Truth, banking crisis, Bear Stearns, biodiversity loss, business cycle, carbon credits, carbon footprint, carbon tax, centralized clearinghouse, clean tech, clean water, corporate social responsibility, Credit Default Swap, dematerialisation, distributed generation, do well by doing good, Easter island, energy security, Exxon Valdez, fear of failure, Gordon Gekko, greed is good, Indoor air pollution, Intergovernmental Panel on Climate Change (IPCC), intermodal, invisible hand, junk bonds, late fees, Mahatma Gandhi, market bubble, music of the spheres, Negawatt, Neil Armstrong, new economy, off-the-grid, oil shale / tar sands, oil shock, old-boy network, peak oil, precautionary principle, renewable energy credits, retail therapy, shareholder value, Silicon Valley, six sigma, subprime mortgage crisis, supply-chain management, urban renewal, Y2K

And if enough people did it, the planet. In fact, since 2003, we’ve manufactured and sold over eighty-three million square yards of carpet with no net global-warming effect—zero—to the earth. We call these climate-neutral products “Cool Carpet,™” and they have been runaway bestsellers. That’s competitive advantage at its best—doing well by doing good. Here’s the thing: Sustainability has given my company a competitive edge in more ways than one. It has proven to be the most powerful marketplace differentiator I have known in my long career. Our costs are down, our profits are up, and our products are the best they’ve ever been. It has rewarded us with more positive visibility and goodwill among our customers than the slickest, most expensive advertising or marketing campaign could possibly have generated.

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Households turn trash into money they can really spend, and the stores they visit see more customers coming in to redeem their Recycle Dollars. We’ve turned an expensive problem into several major income streams. We’re growing our company by changing how people think about what they consume and waste.” Now that is thinking in the round, new thinking, and sustainability at its best—doing well by doing good. Right now RecycleBank serves over 300,000 households in fifteen states and is in the process of offering service to over a million more homes. Fortune magazine has named it one of the Top Eleven Green Businesses, and the World Economic Forum recently recognized RecycleBank with a Technology Pioneer Award.

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In 1994, a simple question, What is Interface doing for the environment? became the driving force that compelled us to discover a new business strategy, and to design it to succeed in the face of tightening resources—a strategy that connected profitability and the environment with a notion called doing well by doing good. And though we started off with no compass, no map, and no path to follow, we have come amazingly far. I think it might be worth restating just exactly how far. • Since 1996, our baseline year, Interface has cut its net greenhouse gas emissions by 71 percent (in absolute tons). • During the same span, our sales have increased by 60 percent.

Consumed: How Markets Corrupt Children, Infantilize Adults, and Swallow Citizens Whole by Benjamin R. Barber

"World Economic Forum" Davos, Abraham Maslow, addicted to oil, AltaVista, American ideology, An Inconvenient Truth, AOL-Time Warner, Berlin Wall, Bertrand Russell: In Praise of Idleness, Bill Gates: Altair 8800, bread and circuses, business cycle, Celebration, Florida, collective bargaining, creative destruction, David Brooks, delayed gratification, digital divide, do well by doing good, Donald Trump, double entry bookkeeping, Dr. Strangelove, G4S, game design, George Gilder, Gordon Gekko, greed is good, Herbert Marcuse, Hernando de Soto, illegal immigration, informal economy, invisible hand, John Perry Barlow, Joseph Schumpeter, laissez-faire capitalism, late capitalism, liberal capitalism, Marc Andreessen, McJob, microcredit, Naomi Klein, new economy, New Journalism, Norbert Wiener, nuclear winter, Panopticon Jeremy Bentham, Paradox of Choice, pattern recognition, presumed consent, profit motive, race to the bottom, Ralph Nader, retail therapy, road to serfdom, Robert Bork, Ronald Reagan, Saturday Night Live, Silicon Valley, SimCity, spice trade, Steve Jobs, telemarketer, The Fortune at the Bottom of the Pyramid, the market place, The Wisdom of Crowds, Thomas L Friedman, Thorstein Veblen, trade route, Tyler Cowen, vertical integration, Virgin Galactic, X Prize

In rhetoric that could have been used for Andrew Carnegie, Time set up Gates: “Billionaires are…removed [from reality],” it pontificated, “nestled atop fantastic wealth where they never again have to place their own calls or defrost dinner or fly commercial.” But not Gates: “For being shrewd about doing good, for rewiring politics and re-engineering justice, for making mercy smarter and hope strategic and then daring the rest of us to follow,” Bill Gates (and Melinda and Bono too) was a Time Person of the Year.91 The Protestant way: doing well by doing good. And you don’t have to be Christian anymore to grasp it. It is a residual of a vanishing system, still evident in big-time philanthropy, even as we plunge into an era of rank infantilization and bottom-line consumer capitalism. We can be glad Carnegie built libraries, glad that the Gateses are battling AIDS, but inequality will not end because billionaires give back some of the spoils of monopoly.

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This has been the well-intentioned but disastrous tactic of private-sector do-gooders from the time of the National Consumers League in the early twentieth century to today’s advocates of the citizen consumer and the champions of corporate responsibility. It was President Bush’s failed tactic in responding to Hurricane Katrina. Urge shoppers to lobby via their dollars and euros and yen to somehow spend their way to the better world that government is supposedly no longer fit to seek; urge managers to “do well by doing good” by being responsible and giving time off for workers who do community service, and by thinking about the needs of the communities in which they reside—right up to the moment the bottom line dictates that their do-good companies abandon them for more profitable climes abroad. Such approaches have an obvious appeal in their goodwilled, philanthropic impulses, but they fall far short of either matching what democracy can do or even rescuing capitalism from what ails it.

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The reforms they champion do not renounce supply and demand in favor of command economy public goods, but use market exchange to produce civic outcomes and public benefits. These market-side reformers see in consumers like the National Advertiser’s Andy Consumer an instrument of demand-side power—for example, boycotts—and in corporations a supply-side tool of responsible organizational citizenship that can “do well by doing good.” They play the market to change how the market does business. On the demand side, “civic consumerism” hopes to “empower” consumers for real by making them thoughtful and responsible shoppers using collective consumer clout to shape what is sold and how it is sold. They want to turn the aggressive “push marketing” economy that manufactures and sells faux needs back into a satisfying pull economy of real products and services meeting genuine human needs, or at least reasonable human wants.

Why We Work by Barry Schwartz

Atul Gawande, call centre, deskilling, do well by doing good, Frederick Winslow Taylor, fulfillment center, future of work, Higgs boson, if you build it, they will come, invisible hand, job satisfaction, meta-analysis, Paradox of Choice, scientific management, Silicon Valley, TED Talk, The Wealth of Nations by Adam Smith, Toyota Production System

As a consequence, people never get the opportunity to develop wise judgment. Your lack of faith in the skills of the people you oversee is validated, leading you to impose still more rules and still greater oversight. And if you think that people lack the will to do their work in pursuit of the right aims, you create incentives that enable people to do well by doing good. In so doing, you undermine whatever motivation people might have to do the right thing because it is the right thing. Once again, your lack of confidence is validated. Instead of putting in place procedures that nurture people’s desire to do meaningful work, the manager, convinced that such attributes are a very slender reed on which to build and run an organization, puts practices in place that undermine them.

MacroWikinomics: Rebooting Business and the World by Don Tapscott, Anthony D. Williams

"World Economic Forum" Davos, accounting loophole / creative accounting, airport security, Andrew Keen, augmented reality, Ayatollah Khomeini, barriers to entry, Ben Horowitz, bioinformatics, blood diamond, Bretton Woods, business climate, business process, buy and hold, car-free, carbon footprint, carbon tax, Charles Lindbergh, citizen journalism, Clayton Christensen, clean water, Climategate, Climatic Research Unit, cloud computing, collaborative editing, collapse of Lehman Brothers, collateralized debt obligation, colonial rule, commoditize, corporate governance, corporate social responsibility, creative destruction, crowdsourcing, death of newspapers, demographic transition, digital capitalism, digital divide, disruptive innovation, distributed generation, do well by doing good, don't be evil, en.wikipedia.org, energy security, energy transition, Evgeny Morozov, Exxon Valdez, failed state, fault tolerance, financial innovation, Galaxy Zoo, game design, global village, Google Earth, Hans Rosling, hive mind, Home mortgage interest deduction, information asymmetry, interchangeable parts, Internet of things, invention of movable type, Isaac Newton, James Watt: steam engine, Jaron Lanier, jimmy wales, Joseph Schumpeter, Julian Assange, Kevin Kelly, Kickstarter, knowledge economy, knowledge worker, machine readable, Marc Andreessen, Marshall McLuhan, mass immigration, medical bankruptcy, megacity, military-industrial complex, mortgage tax deduction, Netflix Prize, new economy, Nicholas Carr, ocean acidification, off-the-grid, oil shock, old-boy network, online collectivism, open borders, open economy, pattern recognition, peer-to-peer lending, personalized medicine, radical decentralization, Ray Kurzweil, RFID, ride hailing / ride sharing, Ronald Reagan, Rubik’s Cube, scientific mainstream, shareholder value, Silicon Valley, Skype, smart grid, smart meter, social graph, social web, software patent, Steve Jobs, synthetic biology, systems thinking, text mining, the long tail, the scientific method, The Wisdom of Crowds, transaction costs, transfer pricing, University of East Anglia, urban sprawl, value at risk, WikiLeaks, X Prize, Yochai Benkler, young professional, Zipcar

Vibrant markets rest on robust common foundations: a shared infrastructure of rules, institutions, knowledge, standards, and technologies provided by a mix of public and private sector initiative. 4. Integrity Years ago corporate social responsibility advocates coined the optimistic adage, “you do well by doing good.” They were trying to make a business case for good corporate behavior. Few were persuaded. The main reason for the lack of success in winning support for corporate responsibility was that the “doing well by doing good” adage was not true. Many companies did well by being bad. Creative accounting, unfair labor practices, corporate secrecy, monopolistic behaviors, externalizing costs to society, and shady environmental behaviors could help beef up the bottom line.

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Creative accounting, unfair labor practices, corporate secrecy, monopolistic behaviors, externalizing costs to society, and shady environmental behaviors could help beef up the bottom line. Not to mention that corporate executives themselves could “do well” by paying astronomical bonuses, even while their companies were struggling. But all that is changing. Because the previously discussed principles are driving success, increasingly the “doing well by doing good” adage is becoming true. Companies that do bad things tend to fail. There is strong evidence that companies and other organizations are being forced to act with integrity, not just by regulators and institutional shareholders, but also because of the forces of this complex networked age, in particular transparency.

Mindware: Tools for Smart Thinking by Richard E. Nisbett

affirmative action, Albert Einstein, availability heuristic, behavioural economics, big-box store, Cass Sunstein, choice architecture, cognitive dissonance, confounding variable, correlation coefficient, correlation does not imply causation, cosmological constant, Daniel Kahneman / Amos Tversky, dark matter, do well by doing good, Edward Jenner, endowment effect, experimental subject, feminist movement, fixed income, fundamental attribution error, Garrett Hardin, glass ceiling, Henri Poincaré, if you see hoof prints, think horses—not zebras, Intergovernmental Panel on Climate Change (IPCC), Isaac Newton, job satisfaction, Kickstarter, lake wobegon effect, libertarian paternalism, longitudinal study, loss aversion, low skilled workers, Menlo Park, meta-analysis, Neil Armstrong, quantitative easing, Richard Thaler, Ronald Reagan, selection bias, Shai Danziger, Socratic dialogue, Steve Jobs, Steven Levy, tacit knowledge, the scientific method, The Wealth of Nations by Adam Smith, Thomas Kuhn: the structure of scientific revolutions, Tragedy of the Commons, William of Occam, Yitang Zhang, Zipcar

Why the Legal Profession Resists Gatekeeping”; O’Brien, Sommers, and Ellsworth, “Ask and What Shall Ye Receive? A Guide for Using and Interpreting What Jurors Tell Us”; Thompson, Fong, and Rosenhan, “Inadmissible Evidence and Juror Verdicts.” 4. SHOULD YOU THINK LIKE AN ECONOMIST? 1. Dunn, Aknin, and Norton, “Spending Money on Others Promotes Happiness.” 2. Borgonovi, “Doing Well by Doing Good: The Relationship Between Formal Volunteering and Self-Reported Health and Happiness.” 3. Heckman, “Skill Formation and the Economics of Investing in Disadvantaged Children”; Knudsen et al., “Economic, Neurobiological, and Behavioral Perspectives on Building America’s Future Workforce.” 4.

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Chawes, T. Skov, G. Pauldan-Muller, J. Stokholm, B. Smith, and K. A. Krogfelt. “Reduced Diversity of the Intestinal Microbiota During Infancy Is Associated with Increased Risk of Allergic Disease at School Age.” Journal of Allergy and Clinical Immunology 128 (2011): 646–52. Borgonovi, Francesca. “Doing Well by Doing Good: The Relationship Between Formal Volunteering and Self-Reported Health and Happiness.” Social Science and Medicine 66 (2008): 2321–34. Brockman, John. What We Believe but Cannot Prove. New York: HarperCollins, 2006. Brown, B. Bradford, Sue Ann Eicher, and Sandra Petrie. “The Importance of Peer Group (‘Crowd’) Affiliation in Adolescence.”

The Key Man: The True Story of How the Global Elite Was Duped by a Capitalist Fairy Tale by Simon Clark, Will Louch

"Friedman doctrine" OR "shareholder theory", "World Economic Forum" Davos, An Inconvenient Truth, anti-communist, Berlin Wall, Bernie Madoff, British Empire, clean water, collapse of Lehman Brothers, colonial rule, coronavirus, corporate governance, COVID-19, dark triade / dark tetrad, do well by doing good, Donald Trump, fake news, forensic accounting, high net worth, impact investing, income inequality, Jeffrey Epstein, Kickstarter, load shedding, low cost airline, Mahatma Gandhi, megacity, Menlo Park, Michael Milken, Mohammed Bouazizi, Nelson Mandela, offshore financial centre, planetary scale, plutocrats, Ponzi scheme, profit maximization, rolling blackouts, Ronald Reagan, shareholder value, Silicon Valley, Social Responsibility of Business Is to Increase Its Profits, SoftBank, sovereign wealth fund, Suez crisis 1956, TED Talk, The Fortune at the Bottom of the Pyramid, trade route, Virgin Galactic, WikiLeaks, young professional

Arif had taken more than $780 million: Klestadt Winters Jureller Southard & Stevems LLP, “Application of Abraaj Investment Management Limited: For an Order to Obtain Discovery for Use in Foreign Proceedings Pursuant to 28 USC 1782,” United States District Court, Southern District of New York, Case 1:20-mc-00229, June 12, 2020. Mission: Impossible films: “Doing Well by Doing Good? Private Equity Investing in Emerging Markets,” published by the London School of Economics, 2013, www.mixcloud.com/lse/doing-well-by-doing-good-private-equity-investing-in-emerging-markets-audio/ healthcare in poor countries: United States of America vs. Arif Naqvi, Waqar Siddique, Rafique Lakhani, Mustafa Abdel-Wadood, Ashish Dave and Sivendran Vettivetpillai, S6 19 Cr. 233 Superseding Indictment, United States District Court, Southern District of New York, 2019.

Radical Chic & Mau-Mauing the Flak Catchers by Tom Wolfe

do well by doing good, full employment, means of production, Mount Scopus, plutocrats, South of Market, San Francisco, Thorstein Veblen, Torches of Freedom

Lee, the original “public relations counsel,” managed to convert his reputation from that of robber baron and widow-fleecer to that of august old sage philanthropist so rapidly that small children cried when he died. His strategy was to set up several hundred million dollars‟ worth of foundations for Culture and scientific research. Among the new socialites of the 1960s, especially those from the one-time “minorities,” this old social urge to do well by doing good, as it says in the song, has taken a more specific political direction. This has often been true of Jewish socialites and culturati, although it has by no means been confined to them. Politically, Jews have been unique among the groups that came to New York in the great migrations of the late 19th and early 20th centuries.

Philanthrocapitalism by Matthew Bishop, Michael Green, Bill Clinton

"Friedman doctrine" OR "shareholder theory", "World Economic Forum" Davos, Abraham Maslow, Albert Einstein, An Inconvenient Truth, anti-communist, AOL-Time Warner, barriers to entry, battle of ideas, Bernie Madoff, Big Tech, Bob Geldof, Bonfire of the Vanities, business process, business process outsourcing, Charles Lindbergh, clean tech, clean water, corporate governance, corporate social responsibility, Dava Sobel, David Ricardo: comparative advantage, digital divide, do well by doing good, don't be evil, family office, financial innovation, full employment, global pandemic, global village, Global Witness, God and Mammon, Hernando de Soto, high net worth, Ida Tarbell, Intergovernmental Panel on Climate Change (IPCC), invisible hand, James Dyson, John Elkington, John Harrison: Longitude, joint-stock company, junk bonds, knowledge economy, knowledge worker, Larry Ellison, Live Aid, lone genius, Marc Andreessen, Marc Benioff, market bubble, mass affluent, Michael Milken, microcredit, Mikhail Gorbachev, Neil Armstrong, Nelson Mandela, new economy, offshore financial centre, old-boy network, PalmPilot, peer-to-peer lending, performance metric, Peter Singer: altruism, plutocrats, profit maximization, profit motive, Richard Feynman, risk tolerance, risk-adjusted returns, Ronald Coase, Ronald Reagan, Salesforce, scientific management, seminal paper, shareholder value, Silicon Valley, Slavoj Žižek, South Sea Bubble, sovereign wealth fund, SpaceShipOne, stem cell, Steve Jobs, The Wealth of Nations by Adam Smith, The Wisdom of Crowds, Thomas Malthus, Thorstein Veblen, trade liberalization, transaction costs, trickle-down economics, Tyler Cowen, wealth creators, winner-take-all economy, working poor, World Values Survey, X Prize

Even if they do think about it, it is all too rare that an executive is willing to incur the short-run costs (such as that R&D–like philanthropy) necessary to achieve that more profitable long-term goal. Spending on lobbying against change that may impose a short-term cost is often the reflex reaction. Corporate “doing well by doing good” may provide a win-win for the firm and society, but it is a win that too few firms even attempt—which is why those firms that do try surely deserve the public’s encouragement. This enlightened self-interest case for business to engage fully in society was set out by Klaus Schwab, founder of the World Economic Forum, in the January-February 2008 issue of Foreign Affairs.

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Gates and G.E.’s Jeffrey Immelt, among others, also recognize that, in the past, business leaders have often failed to understand the role their firms play by meeting important social needs, and this lack of understanding has over the years meant that firms have missed many profitable opportunities to “do well by doing good.” Gates is surely right to argue for more effort to be made, by governments and business to create even more incentives—whether financial or in terms of positive public recognition of good behavior—to find market-based solutions to big problems. Yet, what Gates recognizes, and Barro apparently does not, is that for all its virtues, business cannot meet all society’s needs.

Zero to One: Notes on Startups, or How to Build the Future by Peter Thiel, Blake Masters

Airbnb, Alan Greenspan, Albert Einstein, Andrew Wiles, Andy Kessler, Berlin Wall, clean tech, cloud computing, crony capitalism, discounted cash flows, diversified portfolio, do well by doing good, don't be evil, Elon Musk, eurozone crisis, Fairchild Semiconductor, heat death of the universe, income inequality, Jeff Bezos, Larry Ellison, Lean Startup, life extension, lone genius, Long Term Capital Management, Lyft, Marc Andreessen, Mark Zuckerberg, Max Levchin, minimum viable product, Nate Silver, Network effects, new economy, Nick Bostrom, PalmPilot, paypal mafia, Peter Thiel, pets.com, power law, profit motive, Ralph Waldo Emerson, Ray Kurzweil, self-driving car, shareholder value, Sheryl Sandberg, Silicon Valley, Silicon Valley startup, Singularitarianism, software is eating the world, Solyndra, Steve Jobs, strong AI, Suez canal 1869, tech worker, Ted Kaczynski, Tesla Model S, uber lyft, Vilfredo Pareto, working poor

This philanthropic approach to business starts with the idea that corporations and nonprofits have until now been polar opposites: corporations have great power, but they’re shackled to the profit motive; nonprofits pursue the public interest, but they’re weak players in the wider economy. Social entrepreneurs aim to combine the best of both worlds and “do well by doing good.” Usually they end up doing neither. The ambiguity between social and financial goals doesn’t help. But the ambiguity in the word “social” is even more of a problem: if something is “socially good,” is it good for society, or merely seen as good by society? Whatever is good enough to receive applause from all audiences can only be conventional, like the general idea of green energy.

Sacred Economics: Money, Gift, and Society in the Age of Transition by Charles Eisenstein

Albert Einstein, back-to-the-land, bank run, Bernie Madoff, big-box store, bread and circuses, Bretton Woods, capital controls, carbon credits, carbon tax, clean water, collateralized debt obligation, commoditize, corporate raider, credit crunch, David Ricardo: comparative advantage, debt deflation, degrowth, deindustrialization, delayed gratification, disintermediation, diversification, do well by doing good, fiat currency, financial independence, financial intermediation, fixed income, floating exchange rates, Fractional reserve banking, full employment, global supply chain, God and Mammon, happiness index / gross national happiness, hydraulic fracturing, informal economy, intentional community, invisible hand, Jane Jacobs, land tenure, land value tax, Lao Tzu, Lewis Mumford, liquidity trap, low interest rates, McMansion, means of production, megaproject, Money creation, money: store of value / unit of account / medium of exchange, moral hazard, mortgage debt, multilevel marketing, new economy, off grid, oil shale / tar sands, Own Your Own Home, Paul Samuelson, peak oil, phenotype, planned obsolescence, Ponzi scheme, profit motive, quantitative easing, race to the bottom, Scramble for Africa, special drawing rights, spinning jenny, technoutopianism, the built environment, Thomas Malthus, too big to fail, Tragedy of the Commons

Today, an ethical business movement and ethical investment movement seek to heal the opposition between love and profit, but however sincere the motives, such efforts often mutate into public relations, “green-washing,” or self-righteousness. This is no accident. In later chapters I will describe a fatal contradiction in the attempt to invest ethically, but for now just note your natural suspicion of it, and in general of any claim to “do well by doing good.” Any time we come across a seemingly altruistic enterprise, we tend to think, “What’s the catch?” How are they secretly making money from this? When are they going to ask me for money? The suspicion, “He’s actually doing it for the money” is nearly universal. We are quick to descry financial motives in everything people do, and we are deeply moved when someone does something so magnanimous or so naively generous that such motive is obviously absent.

…

Consider one of the most inspiring types of socially conscious investing: microloans to women in South Asia. These programs have apparently been a huge success, empowering women in India and Bangladesh with new livelihoods while bearing an extremely low rate of defaults. If there were ever an example of “doing well by doing good,” this is it. You lend $500 to an Indian woman to buy a milch cow. She sells the milk to her fellow villagers and earns enough income to feed her family and pay off the interest and principal on the loan. Sounds great, but consider for a moment: where does the repayment money come from? It comes from the villagers.

When McKinsey Comes to Town: The Hidden Influence of the World's Most Powerful Consulting Firm by Walt Bogdanich, Michael Forsythe

"RICO laws" OR "Racketeer Influenced and Corrupt Organizations", "World Economic Forum" Davos, activist fund / activist shareholder / activist investor, Affordable Care Act / Obamacare, Alistair Cooke, Amazon Web Services, An Inconvenient Truth, asset light, asset-backed security, Atul Gawande, Bear Stearns, Boris Johnson, British Empire, call centre, Cambridge Analytica, carbon footprint, Citizen Lab, cognitive dissonance, collective bargaining, compensation consultant, coronavirus, corporate governance, corporate social responsibility, Corrections Corporation of America, COVID-19, creative destruction, Credit Default Swap, crony capitalism, data science, David Attenborough, decarbonisation, deindustrialization, disinformation, disruptive innovation, do well by doing good, don't be evil, Donald Trump, double entry bookkeeping, facts on the ground, failed state, financial engineering, full employment, future of work, George Floyd, Gini coefficient, Glass-Steagall Act, global pandemic, illegal immigration, income inequality, information security, interchangeable parts, Intergovernmental Panel on Climate Change (IPCC), invisible hand, job satisfaction, job-hopping, junk bonds, Kenneth Arrow, Kickstarter, load shedding, Mark Zuckerberg, megaproject, Moneyball by Michael Lewis explains big data, mortgage debt, Multics, Nelson Mandela, obamacare, offshore financial centre, old-boy network, opioid epidemic / opioid crisis, profit maximization, public intellectual, RAND corporation, Rutger Bregman, scientific management, sentiment analysis, shareholder value, Sheryl Sandberg, Silicon Valley, smart cities, smart meter, South China Sea, sovereign wealth fund, tech worker, The future is already here, The Nature of the Firm, too big to fail, urban planning, WikiLeaks, working poor, Yogi Berra, zero-sum game

“On my first day,” she recalled, “I said, ‘I don’t want to work for any oil companies.’ ” Karma said he didn’t want to work for a pharmaceutical company. McKinsey honored both requests. “My first project was working for a local museum,” said Rosenthal, now a history professor at the University of California, Berkeley. Other companies talk about doing well by doing good. Google once had a simple motto: “Don’t be evil.” That motto disappeared from the preamble to its code of conduct in 2018 during the tenure of its chief executive, a former McKinsey consultant, Sundar Pichai. Few companies promote “values” as a recruiting tool with the fervor of McKinsey.

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He wasn’t asking for specific policies that might affect oil or coal production but instead calling for markets to somehow work their magic. Despite Aspen’s lofty aspirations, the “solutions” that usually emerge have a common theme: they involve little or no sacrifice from the world’s billionaires or big corporations. Instead, they focus on the private sector “doing well by doing good”—with small measures to address pressing problems that often call for collective action. It’s good PR. That’s the critique offered by Anand Giridharadas, a former McKinsey consultant and a former Aspen fellow. In a 2015 speech to his fellow fellows, he questioned the entire premise of the organization, saying it makes the rich and powerful feel virtuous about the incremental good deeds their companies do under the banner of “corporate social responsibility” while their core businesses continue to inflict harm.

Capitalism 3.0: A Guide to Reclaiming the Commons by Peter Barnes

Albert Einstein, car-free, carbon tax, clean water, collective bargaining, corporate governance, corporate personhood, corporate raider, corporate social responsibility, cotton gin, dark matter, digital divide, diversified portfolio, do well by doing good, Easter island, en.wikipedia.org, Garrett Hardin, gentrification, hypertext link, Isaac Newton, James Watt: steam engine, jitney, junk bonds, Michael Milken, military-industrial complex, money market fund, new economy, patent troll, precautionary principle, profit maximization, Ronald Coase, telemarketer, The Wealth of Nations by Adam Smith, Tragedy of the Commons, transaction costs, War on Poverty, Yogi Berra

In theory, if enough people invested this way, they could lure corporations into behaving better than they otherwise might. In reality, though, it hasn’t worked like that, and doesn’t seem likely to. One reason is that socially screened investment funds (with a few exceptions) aren’t willing to accept a lower rate of financial return. “Doing well by doing good” is their mantra, and they strive to beat, or at least equal, the returns of funds that are not socially screened. When they succeed (and often they do), this “proves” that social responsibility makes good business sense. On the other hand, it means the funds can demand of companies only “good” behavior that enhances the bottom line.

The Purpose Economy: How Your Desire for Impact, Personal Growth and Community Is Changing the World by Aaron Hurst

Abraham Maslow, Airbnb, Alvin Toffler, Atul Gawande, barriers to entry, benefit corporation, big-box store, bike sharing, Bill Atkinson, business process, call centre, carbon footprint, citizen journalism, commoditize, corporate social responsibility, crowdsourcing, disintermediation, do well by doing good, Elon Musk, Firefox, General Magic , glass ceiling, greed is good, housing crisis, independent contractor, informal economy, Jane Jacobs, jimmy wales, Khan Academy, Kickstarter, Lean Startup, longitudinal study, Max Levchin, means of production, Mitch Kapor, new economy, pattern recognition, Peter Singer: altruism, Peter Thiel, QR code, Ray Oldenburg, remote working, Ronald Reagan, selection bias, sharing economy, Silicon Valley, Silicon Valley startup, Steve Jobs, TaskRabbit, TED Talk, Tony Hsieh, too big to fail, underbanked, women in the workforce, work culture , young professional, Zipcar

…Millennials [are] confident, self-expressive, liberal, upbeat and open to change.”4 Millennials were not only born into a world of much more perceived affluence than prior generations, but also into one in which these values and aspirations were gaining traction. Inspiring examples of Purpose Economy achievements could be seen all around them. As they came of age, the environmental movement was going mainstream; pioneering social entrepreneurs were popularizing the idea of “doing well by doing good,” with forerunners like Paul Hawken of Smith & Hawken, Ben & Jerry’s, and Anita Roddick of the Body Shop popularizing a new ethic of corporate social responsibility. Meanwhile, celebrities like Matt Damon, Angelina Jolie, and George Clooney were popularizing a new ethic of individual engagement, making it cool to be socially engaged.

The Penguin and the Leviathan: How Cooperation Triumphs Over Self-Interest by Yochai Benkler

Abraham Maslow, Alan Greenspan, behavioural economics, business process, California gold rush, citizen journalism, classic study, Daniel Kahneman / Amos Tversky, do well by doing good, East Village, Everything should be made as simple as possible, experimental economics, experimental subject, framing effect, Garrett Hardin, informal economy, invisible hand, jimmy wales, job satisfaction, Joseph Schumpeter, Kaizen: continuous improvement, Kenneth Arrow, knowledge economy, laissez-faire capitalism, loss aversion, Murray Gell-Mann, Nicholas Carr, peer-to-peer, prediction markets, Richard Stallman, scientific management, Scientific racism, Silicon Valley, social contagion, Steven Pinker, telemarketer, Toyota Production System, Tragedy of the Commons, twin studies, ultimatum game, Washington Consensus, Yochai Benkler, zero-sum game, Zipcar

A strong element of trust further reinforces the community feel; there are no attendants to check the condition of a car once it is returned; members are simply encouraged to return the car clean, in good shape, with a full tank of fuel, for the next user—which they do, with amazing consistency. In other words, the company presents itself less like a business and more like a sort of environmentally conscious club. Is this a manipulation? Not really. To listen to Robin Chase, one of the company’s cofounders, there’s no question that the company really was founded on a belief of doing well by doing good: of improving urban transportation while reducing carbon emissions. But the pureness of intent isn’t the point; the point is that painting itself as a community not only wins Zipcar customers, it also motivates them to follow the rules and treat the cars, and other members, well. In this, it is like a real-world version of the Wall Street/Community Game experiment.

Life You Can Save: Acting Now to End World Poverty by Peter Singer

accounting loophole / creative accounting, Bear Stearns, Branko Milanovic, Cass Sunstein, clean water, do well by doing good, end world poverty, experimental economics, Garrett Hardin, illegal immigration, Larry Ellison, Martin Wolf, microcredit, Monkeys Reject Unequal Pay, Peter Singer: altruism, pre–internet, purchasing power parity, randomized controlled trial, Richard Thaler, Silicon Valley, subprime mortgage crisis, Thomas Malthus, Tyler Cowen, ultimatum game, union organizing

(Chicago: Northwestern University Press, 1963), p. 297. Cited by Haidt. 21. Arthur Books, “Why Giving Makes You Happy,” New York Sun, December 28, 2007. The first study is from the Social Capital Community Benchmark Survey, while the second is from the University of Michigan’s Panel Study of Income Dynamics. 22. J. A. Piliavin, “Doing Well by Doing Good: Benefits for the Benefactor,” in C.L.M. Keyes and J. Haidt (eds.), Flourishing: Positive Psychology and the Life Well-Lived (Washington, D.C.: American Psychological Association, 2003), pp. 227-47; S. L. Brown, R. M. Nesse, A. D. Vinokur, and D. M. Smith, “Providing Social Support May Be More Beneficial Than Receiving It: Results from a Prospective Study of Mortality,” Psychological Science 14 (2003), pp. 320-27; P.

The Coffee Book: Anatomy of an Industry From Crop to the Last Drop by Gregory Dicum, Nina Luttinger

biodiversity loss, California gold rush, carbon credits, clean water, corporate social responsibility, cuban missile crisis, do well by doing good, Edward Lloyd's coffeehouse, European colonialism, gentrification, Honoré de Balzac, illegal immigration, land reform, land tenure, open economy, price stability, Ray Oldenburg, The Great Good Place

Source: Equal Erchange Based in Massachusetts but with distribution throughout the country, Equal Exchange remains the largest 100-percent Fair Trade coffee company in the country today (and one of the largest worker-owned cooperatives). Experiencing dramatic growth in recent years—20 to 30 percent per year, and $20 million in sales for 2005—Equal Exchange, perhaps better than any other company, is a living demonstration that a company can do well by doing good in the world. Indeed, Equal Exchange’s approach has gained so much trust among coffee growers that a pair of Latin American Fair Trade producer co-ops have actually made substantial investments in the company. Third-party Fair Trade certification did not begin in the United States until 1999, with the launch of TransFair USA.

The Great American Stickup: How Reagan Republicans and Clinton Democrats Enriched Wall Street While Mugging Main Street by Robert Scheer

Alan Greenspan, banking crisis, Bear Stearns, Bernie Madoff, Bernie Sanders, business cycle, California energy crisis, collateralized debt obligation, corporate governance, Credit Default Swap, credit default swaps / collateralized debt obligations, do well by doing good, facts on the ground, financial deregulation, fixed income, Glass-Steagall Act, housing crisis, invisible hand, Long Term Capital Management, low interest rates, mega-rich, mortgage debt, new economy, old-boy network, Ponzi scheme, profit motive, Ralph Nader, rolling blackouts, Ronald Reagan, Savings and loan crisis, too big to fail, trickle-down economics

Is that what Bill Clinton considers middle class? A year before the scandal broke and four years before Fannie Mae was revealed as a disaster case—and taken over by the federal government even as its stock shares tumbled 90 percent—Raines was much celebrated as a typical elitist progressive “doing well by doing good.” Raised in a working-class family with a janitor father who built a home with his bare hands and struggled to keep a roof over his family’s head, Raines’s story made for great profile copy on NPR and in such national publications as the New York Times and Ebony magazine. More important, it gave Fannie Mae credibility in saying its huge expansion in alternative lending—boldly labeled the “American Dream Initiative”—was for progressive ends: helping the poor and minorities become homeowners.

Mastering the VC Game: A Venture Capital Insider Reveals How to Get From Start-Up to IPO on Your Terms by Jeffrey Bussgang

business cycle, business process, carried interest, deal flow, digital map, discounted cash flows, do well by doing good, hiring and firing, It's morning again in America, Jeff Bezos, Kickstarter, Marc Andreessen, Mark Zuckerberg, Menlo Park, moveable type in China, pattern recognition, Paul Graham, performance metric, Peter Thiel, pets.com, public intellectual, risk tolerance, rolodex, Ronald Reagan, Sand Hill Road, selection bias, shareholder value, Silicon Valley, Skype, software as a service, sovereign wealth fund, Steve Jobs, Steve Jurvetson, technology bubble, The Wisdom of Crowds

Michael wanted to start a company that would help parents set aside money for college tuition and also enable large consumer companies to create strong customer relationships through loyalty programs. Over breakfast, Michael described the idea in great detail and the unique culture we could create by building a company that would do well by doing good. I have to confess that he had me at “hello.” It wasn’t that I wanted out of Open Market. I was perfectly happy there. Once again, however, the siren call of starting a new venture and the appeal of the mission were so strong that I decided to pursue my passion and joined Michael to help start the new company, becoming its founding president.

What's Yours Is Mine: Against the Sharing Economy by Tom Slee

4chan, Airbnb, Amazon Mechanical Turk, asset-backed security, barriers to entry, Benchmark Capital, benefit corporation, Berlin Wall, big-box store, bike sharing, bitcoin, blockchain, Californian Ideology, citizen journalism, collaborative consumption, commons-based peer production, congestion charging, Credit Default Swap, crowdsourcing, data acquisition, data science, David Brooks, democratizing finance, do well by doing good, don't be evil, Dr. Strangelove, emotional labour, Evgeny Morozov, gentrification, gig economy, Hacker Ethic, impact investing, income inequality, independent contractor, informal economy, invisible hand, Jacob Appelbaum, Jane Jacobs, Jeff Bezos, John Zimmer (Lyft cofounder), Kevin Roose, Khan Academy, Kibera, Kickstarter, license plate recognition, Lyft, machine readable, Marc Andreessen, Mark Zuckerberg, Max Levchin, move fast and break things, natural language processing, Netflix Prize, Network effects, new economy, Occupy movement, openstreetmap, Paul Graham, peer-to-peer, peer-to-peer lending, Peter Thiel, pre–internet, principal–agent problem, profit motive, race to the bottom, Ray Kurzweil, recommendation engine, rent control, ride hailing / ride sharing, sharing economy, Silicon Valley, Snapchat, software is eating the world, South of Market, San Francisco, TaskRabbit, TED Talk, the Cathedral and the Bazaar, the long tail, The Nature of the Firm, Thomas L Friedman, transportation-network company, Travis Kalanick, Tyler Cowen, Uber and Lyft, Uber for X, uber lyft, ultimatum game, urban planning, WeWork, WikiLeaks, winner-take-all economy, Y Combinator, Yochai Benkler, Zipcar

Industries built on openness have delivered some remarkable things, but they have repeatedly failed to deliver on their promises of democratization and equality, and the Sharing Economy is busy running down the path paved by these previous industries. As Silicon Valley has grown wealthier and more powerful, the beliefs that you can do well by doing good and that markets can in fact be used to “scale up” efforts for social change, have become mainstream within ­Internet culture. It’s a viewpoint sometimes called the Californian ­Ideology.3 From global poverty to civil liberties to education and healthcare, ­Internet ­culture sees the combination of technology and the entrepreneurial mindset as the key to solving our biggest problems.

More Money Than God: Hedge Funds and the Making of a New Elite by Sebastian Mallaby

Alan Greenspan, Andrei Shleifer, Asian financial crisis, asset-backed security, automated trading system, bank run, barriers to entry, Bear Stearns, Benoit Mandelbrot, Berlin Wall, Bernie Madoff, Big bang: deregulation of the City of London, Bonfire of the Vanities, book value, Bretton Woods, business cycle, buy and hold, capital controls, Carmen Reinhart, collapse of Lehman Brothers, collateralized debt obligation, computerized trading, corporate raider, Credit Default Swap, credit default swaps / collateralized debt obligations, crony capitalism, currency manipulation / currency intervention, currency peg, deal flow, do well by doing good, Elliott wave, Eugene Fama: efficient market hypothesis, failed state, Fall of the Berlin Wall, financial deregulation, financial engineering, financial innovation, financial intermediation, fixed income, full employment, German hyperinflation, High speed trading, index fund, Jim Simons, John Bogle, John Meriwether, junk bonds, Kenneth Rogoff, Kickstarter, Long Term Capital Management, low interest rates, machine translation, margin call, market bubble, market clearing, market fundamentalism, Market Wizards by Jack D. Schwager, Mary Meeker, merger arbitrage, Michael Milken, money market fund, moral hazard, Myron Scholes, natural language processing, Network effects, new economy, Nikolai Kondratiev, operational security, pattern recognition, Paul Samuelson, pre–internet, proprietary trading, public intellectual, quantitative hedge fund, quantitative trading / quantitative finance, random walk, Renaissance Technologies, Richard Thaler, risk-adjusted returns, risk/return, Robert Mercer, rolodex, Savings and loan crisis, Sharpe ratio, short selling, short squeeze, Silicon Valley, South Sea Bubble, sovereign wealth fund, statistical arbitrage, statistical model, survivorship bias, tail risk, technology bubble, The Great Moderation, The Myth of the Rational Market, the new new thing, too big to fail, transaction costs, two and twenty, uptick rule

In 1998 it launched a merger-arb operation in London, arriving within a few months of its rivals, Och-Ziff and Perry Capital. It bought a stake in Alpargatas, a bankrupt Argentine textile and shoe maker. It installed new managers at Alpargatas and restructured the firm’s debt; soon some two thousand idled workers found themselves employed again, and Farallon had proved that it could do well by doing good in a frontier economy.21 But nothing could match what was about to follow. In November 2001, Farallon set out to buy the biggest bank in Indonesia. Farallon’s target, Bank Central Asia, had been founded by Liem Sioe Liong, who had been Indonesia’s richest man and a firm friend of the country’s modernizing dictator, Suharto.

…

Farallon installed a new chairman, brought in some consultants, and patiently coaxed the bank out of the Suharto era. By 2006, when Farallon sold most of its stake to an Indonesian partner, BCA’s share price had risen 550 percent since the purchase; just as with the Argentine shoe company, Farallon had shown it could do well by doing good in a tough country. But Farallon’s investment had another effect too. The spectacle of a swashbuckling hedge fund dashing into Indonesia turned heads in New York and London, and institutional investors began to give the country a sympathetic second look. In the year leading up to the BCA purchase, a mere $286 million of net portfolio investment had trickled into Indonesia; but the following year almost $1 billion of foreign capital came in, and the year after that brought more than $4 billion.30 Farallon had scrambled the market’s settled view on all Indonesian assets, setting the stage for a rebound.

Tribe of Mentors: Short Life Advice From the Best in the World by Timothy Ferriss

"World Economic Forum" Davos, 23andMe, A Pattern Language, agricultural Revolution, Airbnb, Albert Einstein, Alvin Toffler, Bayesian statistics, bitcoin, Black Lives Matter, Black Swan, blockchain, Brownian motion, Buckminster Fuller, Clayton Christensen, cloud computing, cognitive dissonance, Colonization of Mars, corporate social responsibility, cryptocurrency, David Heinemeier Hansson, decentralized internet, dematerialisation, do well by doing good, do what you love, don't be evil, double helix, driverless car, effective altruism, Elon Musk, Ethereum, ethereum blockchain, family office, fear of failure, Gary Taubes, Geoffrey West, Santa Fe Institute, global macro, Google Hangouts, Gödel, Escher, Bach, haute couture, helicopter parent, high net worth, In Cold Blood by Truman Capote, income inequality, index fund, information security, Jeff Bezos, job satisfaction, Johann Wolfgang von Goethe, Kevin Kelly, Lao Tzu, Larry Ellison, Law of Accelerating Returns, Lyft, Mahatma Gandhi, Marc Andreessen, Marc Benioff, Marshall McLuhan, Max Levchin, Mikhail Gorbachev, minimum viable product, move fast and break things, Mr. Money Mustache, Naomi Klein, Neal Stephenson, Nick Bostrom, non-fiction novel, Peter Thiel, power law, profit motive, public intellectual, Ralph Waldo Emerson, Ray Kurzweil, Salesforce, Saturday Night Live, Sheryl Sandberg, side project, Silicon Valley, Skype, smart cities, smart contracts, Snapchat, Snow Crash, Steve Jobs, Steve Jurvetson, Steven Pinker, Stewart Brand, sunk-cost fallacy, TaskRabbit, tech billionaire, TED Talk, Tesla Model S, too big to fail, Turing machine, uber lyft, Vitalik Buterin, W. E. B. Du Bois, web application, Whole Earth Catalog, Y Combinator

With every step, you will discover more about who you want to be and what you want to do. If you wait for the perfect and keep all of your options open, you might end up with nothing but options. So start. What are bad recommendations you hear in your profession or area of expertise? “Do well by doing good.” Who wants to do well by doing bad? We have to do better. This moment in history demands that we put purpose before profit, that we take more seriously the fact that we have the tools, the imagination, and the resources to solve our toughest problems. So it is time to get on with it. When you feel overwhelmed or unfocused, what do you do?

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Craig Newmark TW/FB: @craignewmark craigconnects.org CRAIG NEWMARK is a web pioneer, philanthropist, and leading advocate on behalf of trustworthy journalism, veterans and military families, and other civic and social justice causes. In 1995, Craig started curating a list of San Francisco arts and technology events he emailed to friends and colleagues. People were soon calling it “Craig’s List,” and when Craig turned it into a company, he monetized minimally, opting for a business model that prioritized “doing well by doing good.” In 2016, he created the Craig Newmark Foundation to promote investment in organizations that effectively serve their communities and drive broad civic engagement at the grassroots level. In 2017, he became a founding funder and executive committee member of the News Integrity Initiative, ­administered by the CUNY Graduate School of Journalism, which seeks to advance news literacy and increase trust in journalism

The Unbanking of America: How the New Middle Class Survives by Lisa Servon

Affordable Care Act / Obamacare, Airbnb, basic income, behavioural economics, Build a better mousetrap, business cycle, Cass Sunstein, choice architecture, creative destruction, Credit Default Swap, cross-border payments, do well by doing good, employer provided health coverage, financial exclusion, financial independence, financial innovation, gender pay gap, gentrification, George Akerlof, gig economy, Glass-Steagall Act, income inequality, independent contractor, informal economy, Jane Jacobs, Joseph Schumpeter, late fees, low interest rates, Lyft, M-Pesa, medical bankruptcy, microcredit, Occupy movement, payday loans, peer-to-peer lending, precariat, Ralph Nader, Richard Thaler, Robert Shiller, Ronald Reagan, Savings and loan crisis, sharing economy, subprime mortgage crisis, too big to fail, transaction costs, unbanked and underbanked, underbanked, universal basic income, Unsafe at Any Speed, We are the 99%, white flight, working poor, Zipcar

Some innovations are designed explicitly to achieve a “double bottom line”—to make a profit for investors while also delivering better products at better prices to those who are not currently well served by the financial-services industry. Unlike the mega-banks that put profit above all else, many innovators are explicitly working to do well by doing good. These firms have real potential to impact the three factors my payday-lender and check-cashing customers cited as the reasons they chose to use alternative financial services: cost, transparency, and service. The innovators featured in this chapter are by no means the only ones doing important and interesting work, but they are representative of the range of talent and creativity that’s out there right now.

Just Listen: Discover the Secret to Getting Through to Absolutely Anyone by Mark Goulston M. D., Keith Ferrazzi

Abraham Maslow, do well by doing good, hiring and firing, index card, Jeff Bezos, Leonard Kleinrock, Mikhail Gorbachev, mirror neurons, Ronald Reagan, zero-sum game

By that point, he’d achieved tremendous popularity with the American public and was being considered as a presidential nominee. I happened to be in the audience that day, and General Powell had me (and everyone else) in the palm of his hand. He urged the audience to give back to their communities. He spoke passionately of his gratitude for his family, childhood, and friends. And he exhorted us all to “do well by doing good.” At the end of his talk, he called for questions. Still feeling the warm glow of his inspiring words, we were totally unprepared for what happened next. “General Powell,” the first questioner said, “I understand that your wife once suffered from depression, had to take medicine, and was even in a mental hospital.

The Heart of Business: Leadership Principles for the Next Era of Capitalism by Hubert Joly

"Friedman doctrine" OR "shareholder theory", "World Economic Forum" Davos, behavioural economics, big-box store, Blue Ocean Strategy, call centre, carbon footprint, Clayton Christensen, clean water, cognitive dissonance, commoditize, company town, coronavirus, corporate governance, corporate social responsibility, COVID-19, David Brooks, do well by doing good, electronic shelf labels (ESLs), fear of failure, global pandemic, Greta Thunberg, imposter syndrome, iterative process, Jeff Bezos, lateral thinking, lockdown, long term incentive plan, Marc Benioff, meta-analysis, old-boy network, pension reform, performance metric, popular capitalism, pre–internet, race to the bottom, remote working, Results Only Work Environment, risk/return, Salesforce, scientific management, shareholder value, Silicon Valley, social distancing, Social Responsibility of Business Is to Increase Its Profits, supply-chain management, TED Talk, Tim Cook: Apple, young professional, zero-sum game

Eventually, even he threw in the towel and changed his recommendation. So, treat everyone as a customer, as a human being with real needs. Quite the revolution! * * * Once we reject the view of the business world as a zero-sum game, there is no limit to the power of “and.” Business can do well by doing good. Best Buy is addressing the needs of aging Americans like Stanley and growing an entirely new business. Our electronics recycling program saves valuable metals and drives traffic to the stores by providing a real service to customers. Investing in energy-efficient LED lights helps reduce carbon emission and reduces our operational costs by saving energy.

Good Profit: How Creating Value for Others Built One of the World's Most Successful Companies by Charles de Ganahl Koch

Abraham Maslow, Albert Einstein, big-box store, book value, British Empire, business process, commoditize, creative destruction, disruptive innovation, do well by doing good, Garrett Hardin, global supply chain, hiring and firing, income per capita, Internet of things, invisible hand, Isaac Newton, Joseph Schumpeter, low interest rates, oil shale / tar sands, personalized medicine, principal–agent problem, proprietary trading, Ralph Waldo Emerson, risk tolerance, Salesforce, Solyndra, tacit knowledge, The Wealth of Nations by Adam Smith, Tragedy of the Commons, transaction costs, transfer pricing

When a spontaneous order is created in which everyone wants to do the right thing and knows what that is, MBM works just as well on a shop floor as it does in a boardroom. And in doing so, it makes everyone’s life better—a necessary condition for good profit. CHAPTER 12 Conclusion THE REAL BOTTOM LINE Doing well by doing good. —THE MOTTO OF BEN FRANKLIN’S LEATHER APRON CLUB1 The bottom line of my business philosophy can best be summed up as follows: Good profit can only result from creating value for the customer. It is the manifestation of the entrepreneur’s respect for what the customer values. I am hopeful this book made that point at least half as well as Sterling Varner did one day in the 1970s when he blew his stack during a management meeting in Wichita.

User Stories Applied: For Agile Software Development by Mike Cohn

A Pattern Language, c2.com, call centre, continuous integration, do well by doing good, Great Leap Forward, index card, iterative process, job automation, job satisfaction, phenotype, tacit knowledge, web application

He is interested in looking behind the specifics of technologies to the patterns, practices, and principles that last for many years; these books should be usable a decade from now. Martin’s criterion is that these are books he wished he could write. Kent Beck has pioneered people-oriented technologies like JUnit, Extreme Programming, and patterns for software development. Kent is interested in helping teams do well by doing good – finding a style of software development that simultaneously satisfies economic, aesthetic, emotional, and practical constraints. His books focus on touching the lives of the creators and users of software. * * * TITLES IN THE SERIES Implementation Patterns Kent Beck, ISBN 0321413091 Test-Driven Development: By Example Kent Beck, ISBN: 0321146530 User Stories Applied: For Agile Software Development Mike Cohn, ISBN: 0321205685 Implementing Lean Software Development: From Concept to Cash Mary and Tom Poppendieck, ISBN 0321437381 * * * Refactoring Databases: Evolutionary Database Design Scott W.

Tomorrow's Capitalist: My Search for the Soul of Business by Alan Murray

"Friedman doctrine" OR "shareholder theory", "World Economic Forum" Davos, activist fund / activist shareholder / activist investor, Airbnb, Alan Greenspan, Alvin Toffler, Berlin Wall, Bernie Sanders, Big Tech, Black Lives Matter, blockchain, Boris Johnson, call centre, carbon footprint, commoditize, coronavirus, corporate governance, corporate raider, corporate social responsibility, COVID-19, creative destruction, Credit Default Swap, decarbonisation, digital divide, disinformation, disruptive innovation, do well by doing good, don't be evil, Donald Trump, Ferguson, Missouri, financial innovation, Francis Fukuyama: the end of history, Frederick Winslow Taylor, future of work, gentrification, George Floyd, global pandemic, Greta Thunberg, gun show loophole, impact investing, income inequality, intangible asset, invisible hand, Jeff Bezos, job automation, knowledge worker, lockdown, London Whale, low interest rates, Marc Benioff, Mark Zuckerberg, market fundamentalism, means of production, minimum wage unemployment, natural language processing, new economy, old-boy network, price mechanism, profit maximization, remote working, risk-adjusted returns, Ronald Reagan, Salesforce, scientific management, shareholder value, side hustle, Silicon Valley, social distancing, Social Responsibility of Business Is to Increase Its Profits, The Future of Employment, the payments system, The Wealth of Nations by Adam Smith, Tim Cook: Apple, Washington Consensus, women in the workforce, work culture , working poor, zero-sum game

It was the brainchild of three friends who met at Stanford and became successful businessmen: Jay Coen Gilbert, cofounder of the apparel/basketball footwear company AND1; Bart Houlihan, an investment banker who joined as president; and Andrew Kassoy, an investment manager at several firms who became involved in sustainable business models. Their idea was simple—that business could do well by doing good, and that the approach could be formalized into a legal structure. In 2006 they created B Lab, a nonprofit with a framework for businesses that sought to be not only the “best in the world, but best for the world.”8 B Labs certifies companies for B Corp status, making them publicly accountable to stakeholders beyond shareholders.

The Enlightened Capitalists by James O'Toole

"Friedman doctrine" OR "shareholder theory", "World Economic Forum" Davos, Abraham Maslow, activist fund / activist shareholder / activist investor, anti-communist, Ayatollah Khomeini, benefit corporation, Bernie Madoff, Bletchley Park, book value, British Empire, business cycle, business logic, business process, California gold rush, carbon footprint, City Beautiful movement, collective bargaining, company town, compensation consultant, Cornelius Vanderbilt, corporate governance, corporate social responsibility, Credit Default Swap, crowdsourcing, cryptocurrency, desegregation, do well by doing good, Donald Trump, double entry bookkeeping, end world poverty, equal pay for equal work, Frederick Winslow Taylor, full employment, garden city movement, germ theory of disease, glass ceiling, God and Mammon, greed is good, high-speed rail, hiring and firing, income inequality, indoor plumbing, inventory management, invisible hand, James Hargreaves, job satisfaction, joint-stock company, Kickstarter, knowledge worker, Lao Tzu, Larry Ellison, longitudinal study, Louis Pasteur, Lyft, Marc Benioff, means of production, Menlo Park, North Sea oil, passive investing, Ponzi scheme, profit maximization, profit motive, Ralph Waldo Emerson, rolodex, Ronald Reagan, Salesforce, scientific management, shareholder value, Silicon Valley, Social Responsibility of Business Is to Increase Its Profits, Socratic dialogue, sovereign wealth fund, spinning jenny, Steve Jobs, Steve Wozniak, stock buybacks, stocks for the long run, stocks for the long term, The Fortune at the Bottom of the Pyramid, The Wealth of Nations by Adam Smith, Tim Cook: Apple, traveling salesman, Uber and Lyft, uber lyft, union organizing, Vanguard fund, white flight, women in the workforce, young professional

He believed that conclusion was not paradoxical; in fact, he argued that the company’s most effective strategy would be to demonstrate to customers that it was a business with a soul. If the company managed to do that, he rationalized, customers would come. Believing that there was a growing “market for virtue,” he set the goal of capturing it. When he was finally convinced the company could both do good and do well—indeed, do well by doing good—he claimed to have experienced a sense of newfound freedom. Yet he realized that his have-it-both-ways strategy might sound a tad idealistic: “I can read your mind. ‘He thinks he can compete,’ you’re wondering, but where is this guy going to get the money?”69 Tom didn’t have an answer to his question.

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Norton & Company, Inc. Cover design by Milan Bozic Cover photograph © Dmytro Synelnychenko/iStock/Getty Images (texture) Library of Congress Cataloging-in-Publication Data Names: O’Toole, James, author. Title: The enlightened capitalists: cautionary tales of business pioneers who tried to do well by doing good / James O’Toole. Description: New York: HarperCollins, [2018] | Includes bibliographical references. Identifiers: LCCN 2018024870 | ISBN 9780062880246 (hardcover) Subjects: LCSH: Businesspeople—United States—Biography. | Entrepreneurship—United States—History. | Businesspeople—United Kingdom—Biography. | Entrepreneurship—United Kingdom—History.

Liberalism at Large: The World According to the Economist by Alex Zevin

"there is no alternative" (TINA), activist fund / activist shareholder / activist investor, affirmative action, Alan Greenspan, anti-communist, Asian financial crisis, bank run, Berlin Wall, Big bang: deregulation of the City of London, Bretton Woods, British Empire, business climate, business cycle, capital controls, carbon tax, centre right, Chelsea Manning, collective bargaining, Columbine, Corn Laws, corporate governance, corporate social responsibility, creative destruction, credit crunch, David Ricardo: comparative advantage, debt deflation, desegregation, disinformation, disruptive innovation, do well by doing good, Donald Trump, driverless car, Edward Snowden, failed state, Fall of the Berlin Wall, financial deregulation, financial innovation, Francis Fukuyama: the end of history, full employment, Gini coefficient, Glass-Steagall Act, global supply chain, guns versus butter model, hiring and firing, imperial preference, income inequality, interest rate derivative, invisible hand, It's morning again in America, Jeremy Corbyn, John von Neumann, Joseph Schumpeter, Julian Assange, junk bonds, Khartoum Gordon, land reform, liberal capitalism, liberal world order, light touch regulation, Long Term Capital Management, low interest rates, market bubble, Martin Wolf, means of production, Michael Milken, Mikhail Gorbachev, Monroe Doctrine, Mont Pelerin Society, moral hazard, Naomi Klein, new economy, New Journalism, Nixon triggered the end of the Bretton Woods system, no-fly zone, Norman Macrae, Northern Rock, Occupy movement, Philip Mirowski, plutocrats, post-war consensus, price stability, quantitative easing, race to the bottom, railway mania, rent control, rent-seeking, road to serfdom, Ronald Reagan, Rosa Parks, Seymour Hersh, Snapchat, Socratic dialogue, Steve Bannon, subprime mortgage crisis, Suez canal 1869, Suez crisis 1956, The Wealth of Nations by Adam Smith, Thomas Malthus, too big to fail, trade liberalization, trade route, unbanked and underbanked, underbanked, unorthodox policies, upwardly mobile, War on Poverty, WikiLeaks, Winter of Discontent, Yom Kippur War, young professional

The larger point is that Moss operated openly, and for seven more years after this dance of death, during which time his profile did not get any lower. Brazenly overlapping with studies for Crozier’s ISC, his Economist articles spread the alarm about supposed communist threats in Spain, Portugal, Northern Ireland, Iran, South Africa and Nicaragua.38 In all this, he showed that, in the free world, it was possible to do well by doing good: free trips from the Shah; quid-pro-quos for a cheery gloss on apartheid South Africa’s invasion of Angola; a £20,000 salary to edit VISION, a magazine owned by the Nicaraguan dictator Anastasio Somoza.39 Moss left the Economist in 1980, using contacts he had made there to publish his first novel, The Spike.

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Major’s government spent £6 billion propping up the pound, and George Soros gained £1 billion betting against it – itself a case study in misallocated resources. 131.Weisberg, ‘The Tweed Jungle’, Vanity Fair, June 1993. 132.In searching for a historic parallel, the Marshall Plan had little resonance – a much closer fit was the concept of unconditional surrender: Burnet, America, p. 257; ‘Yankee Stay On’, 10 February 1990; ‘As the Tanks Rumble Away’, 1 September 1990; ‘Doing Well by Doing Good’, 15 June 1991. 133.‘If it comes to a choice between fudge without war and victory with war, Mr Bush should go to war.’ ‘Saying No’, 11 August 1990; ‘The Man with No Illusions’, 25 August 1990. 134.‘Blood on His Hands’, 19 January 1991. 135.Brian Beedham, ‘Niech zyje wiosna: Long Live Spring’, 12 August 1989. 136.Brian Beedham, ‘1989, and All That’, 23 December 1989. 137.

Overdiagnosed: Making People Sick in the Pursuit of Health by H. Gilbert Welch, Lisa M. Schwartz, Steven Woloshin

23andMe, classic study, do well by doing good, double helix, Google Earth, Gregor Mendel, invisible hand, it's over 9,000, life extension, longitudinal study, mandelbrot fractal, medical residency, meta-analysis, phenotype, placebo effect, randomized controlled trial, Ronald Reagan, sugar pill, The Wealth of Nations by Adam Smith

Manufacturers (those who make drugs or diagnostic and treatment devices) and health-care organizations (those who directly deliver these products) are largely influenced by the potential to profit. Simply stated, more diagnoses mean more patients for them and higher sales volumes. Nevertheless, they are undoubtedly also influenced by an element of true belief. Note that the combination is very powerful; it offers the prospect of “doing well by doing good.” Disease advocacy groups (for diabetes, thyroid cancer, and other disorders) and policy makers are largely composed of true believers. They promote more diagnosis because they believe it is the right thing to do for individuals and for society. Nonetheless, they also stand to profit from early diagnosis.

More From Less: The Surprising Story of How We Learned to Prosper Using Fewer Resources – and What Happens Next by Andrew McAfee

back-to-the-land, Bartolomé de las Casas, Berlin Wall, bitcoin, Blitzscaling, Branko Milanovic, British Empire, Buckminster Fuller, call centre, carbon credits, carbon footprint, carbon tax, Charles Babbage, clean tech, clean water, cloud computing, congestion pricing, Corn Laws, creative destruction, crony capitalism, data science, David Ricardo: comparative advantage, decarbonisation, DeepMind, degrowth, dematerialisation, Demis Hassabis, Deng Xiaoping, do well by doing good, Donald Trump, Edward Glaeser, en.wikipedia.org, energy transition, Erik Brynjolfsson, failed state, fake news, Fall of the Berlin Wall, Garrett Hardin, Great Leap Forward, Haber-Bosch Process, Hans Rosling, humanitarian revolution, hydraulic fracturing, income inequality, indoor plumbing, intangible asset, James Watt: steam engine, Jeff Bezos, job automation, John Snow's cholera map, joint-stock company, Joseph Schumpeter, Khan Academy, Landlord’s Game, Louis Pasteur, Lyft, Marc Andreessen, Marc Benioff, market fundamentalism, means of production, Michael Shellenberger, Mikhail Gorbachev, ocean acidification, oil shale / tar sands, opioid epidemic / opioid crisis, Paul Samuelson, peak oil, precision agriculture, price elasticity of demand, profit maximization, profit motive, risk tolerance, road to serfdom, Ronald Coase, Ronald Reagan, Salesforce, Scramble for Africa, Second Machine Age, Silicon Valley, Steve Jobs, Steven Pinker, Stewart Brand, Ted Nordhaus, TED Talk, telepresence, The Wealth of Nations by Adam Smith, Thomas Davenport, Thomas Malthus, Thorstein Veblen, total factor productivity, Tragedy of the Commons, Uber and Lyft, uber lyft, Veblen good, War on Poverty, We are as Gods, Whole Earth Catalog, World Values Survey

Smart policies can encourage this “rediffusion” of economic activity. So, too, can the realization that even the places that are getting left behind have a huge amount of human capital. As the social entrepreneur Leila Janah puts it, “Talent is equally distributed; opportunity is not.” This fact presents a great opportunity for companies to do well by doing good—to help themselves by building and tapping into the human capital that exists in disconnected communities. A number of intriguing efforts are underway to harness both the power of markets and the great global thirst for talent to create opportunity in places where it’s currently lacking. Samasource, founded by Janah in 2008, trains people to do entry-level technology work (such as data entry and image labeling) and connects them with employers.

China's Good War by Rana Mitter

"World Economic Forum" Davos, 9 dash line, Admiral Zheng, anti-communist, Berlin Wall, Bretton Woods, British Empire, colonial rule, COVID-19, Deng Xiaoping, do well by doing good, Donald Trump, Great Leap Forward, high-speed rail, Internet Archive, land reform, liberal capitalism, Mahatma Gandhi, Mikhail Gorbachev, Nelson Mandela, New Journalism, sexual politics, South China Sea, Washington Consensus

Although some doubts were expressed about the practicalities, the comparison was almost entirely positive. China had managed to portray its geopolitical ambitions in a way that the Western world saw as similar to one of the twentieth century’s greatest acts of development, both being viewed as projects in which the sponsoring power would “do well by doing good.”44 It is therefore ironic that China had already begun to edge away very fast from any comparison with the Marshall Plan. The year before the McKinsey podcast, an editorial titled “ ‘Belt and Road Initiatives’ No Marshall Plan of China” had appeared in the official English-language China Daily.

Green Swans: The Coming Boom in Regenerative Capitalism by John Elkington

"Friedman doctrine" OR "shareholder theory", "World Economic Forum" Davos, agricultural Revolution, Anthropocene, anti-fragile, Any sufficiently advanced technology is indistinguishable from magic, autonomous vehicles, Berlin Wall, bitcoin, Black Swan, blockchain, Boeing 737 MAX, Boeing 747, Buckminster Fuller, business cycle, Cambridge Analytica, carbon footprint, carbon tax, circular economy, Clayton Christensen, clean water, cloud computing, corporate governance, corporate social responsibility, correlation does not imply causation, creative destruction, CRISPR, crowdsourcing, David Attenborough, deglobalization, degrowth, discounted cash flows, distributed ledger, do well by doing good, Donald Trump, double entry bookkeeping, drone strike, Elon Musk, en.wikipedia.org, energy transition, Extinction Rebellion, Future Shock, Gail Bradbrook, Geoffrey West, Santa Fe Institute, George Akerlof, global supply chain, Google X / Alphabet X, green new deal, green transition, Greta Thunberg, Hans Rosling, hype cycle, impact investing, intangible asset, Internet of things, invention of the wheel, invisible hand, Iridium satellite, Jeff Bezos, John Elkington, Jony Ive, Joseph Schumpeter, junk bonds, Kevin Kelly, Kickstarter, M-Pesa, Marc Benioff, Mark Zuckerberg, Martin Wolf, microplastics / micro fibres, more computing power than Apollo, move fast and break things, Naomi Klein, Nelson Mandela, new economy, Nikolai Kondratiev, ocean acidification, oil shale / tar sands, oil shock, opioid epidemic / opioid crisis, placebo effect, Planet Labs, planetary scale, plant based meat, plutocrats, Ponzi scheme, radical decentralization, Ralph Nader, reality distortion field, Recombinant DNA, Rubik’s Cube, Salesforce, self-driving car, shareholder value, sharing economy, Sheryl Sandberg, Silicon Valley, smart cities, smart grid, sovereign wealth fund, space junk, Steven Pinker, Stewart Brand, supply-chain management, synthetic biology, systems thinking, The future is already here, The Wealth of Nations by Adam Smith, Thomas Kuhn: the structure of scientific revolutions, Tim Cook: Apple, urban planning, Whole Earth Catalog

In parallel, and crucially, exponential leaders must grapple with the ethical, moral, and social implications of the technologies they are evolving. Which brings us to the fourth skill set, that of the Humanitarian. Here we are advised, “Exponential leaders use the skills and behaviors of futurist, innovator and technologist to improve the lives of the people they touch, and society as a whole. They aim to do well by doing good—not as a separate set of ‘corporate social responsibility’ activities, but as part of the integrated company mission.” A key part of this will involve sidestepping the Midgley Syndrome outlined in Chapter 6, ensuring that tomorrow’s capitalism avoids causing systemic crises like those spotlighted in Figure 8 (see Annex, page 254), including “Insectageddon,”65 involving the catastrophic undermining of insect populations, and “The Great Hack,” the latter a Netflix branding of the hacking of the 2016 US presidential elections.66 Business cannot solve such challenges on its own.

Nudge: Improving Decisions About Health, Wealth, and Happiness by Richard H. Thaler, Cass R. Sunstein

Al Roth, Albert Einstein, asset allocation, availability heuristic, behavioural economics, call centre, carbon tax, Cass Sunstein, choice architecture, continuous integration, currency risk, Daniel Kahneman / Amos Tversky, desegregation, diversification, diversified portfolio, do well by doing good, endowment effect, equity premium, feminist movement, financial engineering, fixed income, framing effect, full employment, George Akerlof, index fund, invisible hand, late fees, libertarian paternalism, loss aversion, low interest rates, machine readable, Mahatma Gandhi, Mason jar, medical malpractice, medical residency, mental accounting, meta-analysis, Milgram experiment, money market fund, pension reform, presumed consent, price discrimination, profit maximization, rent-seeking, Richard Thaler, Right to Buy, risk tolerance, Robert Shiller, Saturday Night Live, school choice, school vouchers, systems thinking, Tragedy of the Commons, transaction costs, Vanguard fund, Zipcar

A well-known skinflint, Franklin calculated that thousands of pounds of candle wax could be saved with his idea. However, the idea did not catch on until World War I. In many cases, markets provide self-control services, and government is not needed at all. Companies can make a lot of money by strengthening Planners in their battle with Doers, often doing well by doing good. An interesting example is a distinctive financial services institution that used to be quite popular: the Christmas savings club. Here is how a Christmas club typically works. In November (around Thanksgiving) a customer opens an account at her local bank and commits herself to depositing a given amount (say $10) each week for the next year.

Ghost Work: How to Stop Silicon Valley From Building a New Global Underclass by Mary L. Gray, Siddharth Suri

"World Economic Forum" Davos, Affordable Care Act / Obamacare, AlphaGo, Amazon Mechanical Turk, Apollo 13, augmented reality, autonomous vehicles, barriers to entry, basic income, benefit corporation, Big Tech, big-box store, bitcoin, blue-collar work, business process, business process outsourcing, call centre, Capital in the Twenty-First Century by Thomas Piketty, cloud computing, cognitive load, collaborative consumption, collective bargaining, computer vision, corporate social responsibility, cotton gin, crowdsourcing, data is the new oil, data science, deep learning, DeepMind, deindustrialization, deskilling, digital divide, do well by doing good, do what you love, don't be evil, Donald Trump, Elon Musk, employer provided health coverage, en.wikipedia.org, equal pay for equal work, Erik Brynjolfsson, fake news, financial independence, Frank Levy and Richard Murnane: The New Division of Labor, fulfillment center, future of work, gig economy, glass ceiling, global supply chain, hiring and firing, ImageNet competition, independent contractor, industrial robot, informal economy, information asymmetry, Jeff Bezos, job automation, knowledge economy, low skilled workers, low-wage service sector, machine translation, market friction, Mars Rover, natural language processing, new economy, operational security, passive income, pattern recognition, post-materialism, post-work, power law, race to the bottom, Rana Plaza, recommendation engine, ride hailing / ride sharing, Ronald Coase, scientific management, search costs, Second Machine Age, sentiment analysis, sharing economy, Shoshana Zuboff, side project, Silicon Valley, Silicon Valley startup, Skype, software as a service, speech recognition, spinning jenny, Stephen Hawking, TED Talk, The Future of Employment, The Nature of the Firm, Tragedy of the Commons, transaction costs, two-sided market, union organizing, universal basic income, Vilfredo Pareto, Wayback Machine, women in the workforce, work culture , Works Progress Administration, Y Combinator, Yochai Benkler

Or companies can market people’s creative insights and labor as the valuable engine behind their services. But it’s businesses designed around workers’ contributions, prioritizing their schedules, project interests, and collaborations, that convert ghost work into a sustainable enterprise. Though these businesses strive to “do well by doing good,” they have learned, through close calls that nearly shuttered their startups, that paying attention to the workers in the loop improves their final products and services and, ultimately, their bottom line. A good example of an on-demand, for-profit company that prioritizes workers’ needs is CloudFactory.

Masters of Scale: Surprising Truths From the World's Most Successful Entrepreneurs by Reid Hoffman, June Cohen, Deron Triff

"Susan Fowler" uber, 23andMe, 3D printing, Airbnb, Anne Wojcicki, Ben Horowitz, bitcoin, Blitzscaling, Broken windows theory, Burning Man, call centre, chief data officer, clean water, collaborative consumption, COVID-19, crowdsourcing, data science, desegregation, do well by doing good, Elon Musk, financial independence, fulfillment center, gender pay gap, global macro, growth hacking, hockey-stick growth, Internet of things, knowledge economy, late fees, Lean Startup, lone genius, Marc Benioff, Mark Zuckerberg, minimum viable product, move fast and break things, Network effects, Paul Graham, Peter Thiel, polynesian navigation, race to the bottom, remote working, RFID, Ronald Reagan, Rubik’s Cube, Ruby on Rails, Salesforce, Sam Altman, Sheryl Sandberg, Silicon Valley, Silicon Valley startup, social distancing, Steve Jobs, Susan Wojcicki, TaskRabbit, TechCrunch disrupt, TED Talk, the long tail, the scientific method, Tim Cook: Apple, Travis Kalanick, two and twenty, work culture , Y Combinator, zero day, Zipcar

“When I look back on what we’ve been able to achieve today, there’s no doubt in my mind—none whatsoever—that the twenty-eight thousand stores we have in seventy-six countries would never have been accomplished without the culture, values, and guiding principles. If the core purpose of the company wasn’t defined by putting our people first, and ensuring success, we would not be here. I know that for a fact.” This idea of doing well by doing good is far from universal today. And it was much less common when Howard took the reins at Starbucks in the late 1980s. His board members, at the time, didn’t quite know what to make of him. But he made the right bet—as demonstrated by Starbucks’ remarkable long-term growth in the years that followed

Conscious Capitalism, With a New Preface by the Authors: Liberating the Heroic Spirit of Business by John Mackey, Rajendra Sisodia, Bill George

"Friedman doctrine" OR "shareholder theory", "World Economic Forum" Davos, Abraham Maslow, Bear Stearns, benefit corporation, Berlin Wall, Buckminster Fuller, business process, carbon footprint, collective bargaining, corporate governance, corporate social responsibility, creative destruction, crony capitalism, cross-subsidies, do well by doing good, en.wikipedia.org, Everything should be made as simple as possible, Fall of the Berlin Wall, fear of failure, Flynn Effect, income per capita, invisible hand, Jeff Bezos, job satisfaction, John Elkington, lone genius, low interest rates, Mahatma Gandhi, microcredit, Nelson Mandela, Occupy movement, profit maximization, Ralph Waldo Emerson, shareholder value, six sigma, social intelligence, Social Responsibility of Business Is to Increase Its Profits, Steve Jobs, Steven Pinker, systems thinking, The Fortune at the Bottom of the Pyramid, The Wealth of Nations by Adam Smith, too big to fail, union organizing, wealth creators, women in the workforce, zero-sum game

The Tenets of Conscious Capitalism Conscious Capitalism is an evolving paradigm for business that simultaneously creates multiple kinds of value and well-being for all stakeholders: financial, intellectual, physical, ecological, social, cultural, emotional, ethical, and even spiritual. This new operating system for business is in far greater harmony with the ethos of our times and the essence of our evolving beings. Conscious Capitalism is not about being virtuous or doing well by doing good. It is a way of thinking about business that is more conscious of its higher purpose, its impacts on the world, and the relationships it has with its various constituencies and stakeholders. It reflects a deeper consciousness about why businesses exist and how they can create more value.

Pour Your Heart Into It by Howard Schultz

Albert Einstein, barriers to entry, clean water, corporate raider, do well by doing good, Exxon Valdez, fear of failure, job satisfaction, market design, Ray Oldenburg, shareholder value, The Great Good Place, urban renewal, vertical integration, working poor, zero-sum game

They are Starbucks, and its success reflects their achievements. CHAPTER 21 How Socially Responsible Can a Company Be? The evidence seems clear that those businesses which actively serve their many constituencies in creative, morally thoughtful ways also, over the long run, serve their shareholders best. Companies do, in fact, do well by doing good. —NORMAN LEAR, FOUNDER THE BUSINESS ENTERPRISE TRUST, IN AIMING HIGHER BY DAVID BOLLIER As CEO, my primary responsibility is to the people of Starbucks: partners, customers, and shareholders. I also feel accountable to those who came before me, those who created the legacy of Starbucks and built it into what it is today.

Beautiful security by Andy Oram, John Viega

Albert Einstein, Amazon Web Services, An Inconvenient Truth, Bletchley Park, business intelligence, business process, call centre, cloud computing, corporate governance, credit crunch, crowdsourcing, defense in depth, do well by doing good, Donald Davies, en.wikipedia.org, fault tolerance, Firefox, information security, loose coupling, Marc Andreessen, market design, MITM: man-in-the-middle, Monroe Doctrine, new economy, Nicholas Carr, Nick Leeson, Norbert Wiener, operational security, optical character recognition, packet switching, peer-to-peer, performance metric, pirate software, Robert Bork, Search for Extraterrestrial Intelligence, security theater, SETI@home, Silicon Valley, Skype, software as a service, SQL injection, statistical model, Steven Levy, the long tail, The Wisdom of Crowds, Upton Sinclair, web application, web of trust, zero day, Zimmermann PGP

And as advertisers become more sophisticated, they’re less likely to tolerate opaque charges for services they can’t confirm they received. Meanwhile, the online advertising economy offers exciting opportunities for those with interdisciplinary interests, combining the creativity of a software engineer with the nose-tothe-ground determination of a detective and the public-spiritedness of a civil servant. Do well by doing good—catching bad guys in the process! ‖ Edelman, Benjamin. “Deterring Online Advertising Fraud Through Optimal Payment in Arrears.” February 19, 2008. http://ssrn.com/abstract=1095262. SECURING ONLINE ADVERTISING: RUSTLERS AND SHERIFFS IN THE NEW WILD WEST 105 CHAPTER SEVEN The Evolution of PGP’s Web of Trust Phil Zimmermann Jon Callas W HEN P RETTY G OOD P RIVACY (PGP) FIRST ARRIVED IN 1991, it was the first time ordinary people could use strong encryption that was previously available only to major governments.

Miracle Cure by William Rosen

Affordable Care Act / Obamacare, availability heuristic, biofilm, cognitive bias, cognitive dissonance, conceptual framework, Copley Medal, creative destruction, demographic transition, discovery of penicillin, do well by doing good, Edward Jenner, Ernest Rutherford, experimental subject, Fellow of the Royal Society, Frances Oldham Kelsey, Frederick Winslow Taylor, friendly fire, functional fixedness, germ theory of disease, global supply chain, Haber-Bosch Process, Ignaz Semmelweis: hand washing, Isaac Newton, James Watt: steam engine, Johannes Kepler, John Snow's cholera map, Joseph Schumpeter, Louis Pasteur, medical malpractice, meta-analysis, microbiome, New Journalism, obamacare, out of africa, pattern recognition, Pepto Bismol, public intellectual, randomized controlled trial, selection bias, stem cell, the long tail, transcontinental railway, working poor

J. R. Macleod, and Charles Best at the University of Toronto in 1922, his legacy would be secure. Lilly persuaded them to join in what was then a groundbreaking partnership in developing their discovery—insulin—into a commercial product, which the company launched as Illetin in 1923. For doing well by doing good, it’s hard to top; as late as 1975, Eli Lilly still supplied the lifesaving compound to three-quarters of the entire American market. Insulin was scarcely Lilly’s only great innovation prior to the 1950s. Through the 1940s, the company’s labs produced the sedative Tuinal and Merthiolate, a widely used antiseptic.

The Happiness Hypothesis: Finding Modern Truth in Ancient Wisdom by Jonathan Haidt

Abraham Maslow, classic study, coherent worldview, crack epidemic, delayed gratification, do well by doing good, feminist movement, hedonic treadmill, Ignaz Semmelweis: hand washing, invisible hand, job satisfaction, Lao Tzu, longitudinal study, meta-analysis, Paradox of Choice, Peter Singer: altruism, PIHKAL and TIHKAL, placebo effect, prisoner's dilemma, Ralph Waldo Emerson, selective serotonin reuptake inhibitor (SSRI), social intelligence, stem cell, tacit knowledge, telemarketer, the scientific method, twin studies, ultimatum game, Walter Mischel, zero-sum game

P. (2004). Character strengths and virtues: A handbook and classification. Washington, D C : American Psychological As - sociation and Oxford University Press. Piaget, J. (1965/1932). The moral judgment of the child. ( M . Gabain, T r a n s . ) New York: Free Press. Piliavin, J. A. (2003). Doing well by doing good: Benefits for the benefactor. In C. L. M. Keyes and J. Haidt (Eds.),, Flourishing: Positive psychology and the life well-lived (pp. 227—247). Washington, D C : American Psychological Association. P i n c o f f s , E. L. ( 1 9 8 6 ) . Quandaries and virtues: Against reductivism in ethics.

Disaster Capitalism: Making a Killing Out of Catastrophe by Antony Loewenstein

"World Economic Forum" Davos, activist fund / activist shareholder / activist investor, Affordable Care Act / Obamacare, American Legislative Exchange Council, anti-communist, Asian financial crisis, benefit corporation, British Empire, business logic, Capital in the Twenty-First Century by Thomas Piketty, Chelsea Manning, clean water, collective bargaining, colonial rule, corporate social responsibility, Corrections Corporation of America, do well by doing good, Edward Snowden, facts on the ground, failed state, falling living standards, Ferguson, Missouri, financial independence, full employment, G4S, Goldman Sachs: Vampire Squid, housing crisis, illegal immigration, immigration reform, income inequality, Julian Assange, Kickstarter, Leo Hollis, mandatory minimum, market fundamentalism, mass incarceration, Naomi Klein, neoliberal agenda, obamacare, Occupy movement, offshore financial centre, open borders, private military company, profit motive, Ralph Nader, Ronald Reagan, Russell Brand, Satyajit Das, Scramble for Africa, Slavoj Žižek, stem cell, the medium is the message, trade liberalization, vertical integration, WikiLeaks, work culture

Meanwhile, a former employee of Mission Essential Personnel claimed in 2010 that more than a quarter of the translators working with US soldiers in Afghanistan had failed basic language tests but were sent into the field regardless. Matthew Mosk, Brian Ross, and Joseph Rhee, “Whistleblower Claims Many US Interpreters Can’t Speak Afghan Language,” ABC News, September 8, 2010. 20Scott Higham, Jessica Schulberg, and Steven Rich, “Doing Well by Doing Good: The High Price of Working in War Zones,” Washington Post, May 5, 2014. 21Sarah Stillman, “The Invisible Army,” New Yorker, June 6, 2011. 22Sam Black and Anjali Kamat, “After 12 Years of War, Labor Abuses Rampant on US Bases in Afghanistan,” Al Jazeera America, March 7, 2014. 23Chatterjee, Halliburton’s Army, p. xii. 24Tabassum Zakaria, Susan Cornwell, and Hadeel Al Shalchi, “For Benghazi Diplomatic Security, US Relied on Small British Firm,” Reuters, October 17, 2012. 25Tim Shorrock, “Exclusive: New Document Details America’s War Machine—and Secret Mass of Contractors in Afghanistan,” Salon, May 28, 2014, at salon.com. 26Declan Walsh, “Made Rich by US Presence, Many in Kandahar Now Face an Uncertain Future,” New York Times, December 9, 2014. 27In the ten months between June 2009 and April 2010, 260 PMCs employed by the Defense Department were killed in Afghanistan, while 324 US troops died.

Geek Heresy: Rescuing Social Change From the Cult of Technology by Kentaro Toyama

Abraham Maslow, Albert Einstein, Apollo 11, behavioural economics, Berlin Wall, Bernie Madoff, blood diamond, Capital in the Twenty-First Century by Thomas Piketty, Cass Sunstein, cognitive dissonance, commoditize, computer vision, conceptual framework, delayed gratification, digital divide, do well by doing good, Edward Glaeser, Edward Jenner, en.wikipedia.org, end world poverty, epigenetics, Erik Brynjolfsson, Evgeny Morozov, Francis Fukuyama: the end of history, fundamental attribution error, gamification, germ theory of disease, global village, Hans Rosling, happiness index / gross national happiness, income inequality, invention of the printing press, invisible hand, Isaac Newton, Khan Academy, Kibera, knowledge worker, Larry Ellison, Lewis Mumford, liberation theology, libertarian paternalism, longitudinal study, M-Pesa, Mahatma Gandhi, Mark Zuckerberg, means of production, microcredit, mobile money, Neil Armstrong, Nelson Mandela, Nicholas Carr, North Sea oil, One Laptop per Child (OLPC), Panopticon Jeremy Bentham, pattern recognition, Peter Singer: altruism, Peter Thiel, post-industrial society, Powell Memorandum, randomized controlled trial, rent-seeking, RFID, Richard Florida, Richard Thaler, school vouchers, self-driving car, Sheryl Sandberg, Silicon Valley, Simon Kuznets, Stanford marshmallow experiment, Steve Jobs, Steven Pinker, technological determinism, technological solutionism, technoutopianism, TED Talk, The Fortune at the Bottom of the Pyramid, the long tail, Twitter Arab Spring, Upton Sinclair, Walter Mischel, War on Poverty, winner-take-all economy, World Values Survey, Y2K

However much governments and nonprofits are criticized for their waste, none of them generates $300 million payouts for their chief executives and pretends that’s an effective way to direct goodwill. I’ve participated in several social enterprise competitions as a coach, mentor, or judge. Talented twenty-somethings feverishly pitch projects, hoping, like Blake Mycoskie, to “do well by doing good.” The projects are tested mainly for their financial sustainability (read “profitability”), their scalability (read “market penetration”), and novelty and uniqueness (read “potential monopoly power”). In the mad rush to conjure money out of hoi polloi, the “social return on investment” often becomes an afterthought.

Blockchain Revolution: How the Technology Behind Bitcoin Is Changing Money, Business, and the World by Don Tapscott, Alex Tapscott

"World Economic Forum" Davos, Airbnb, altcoin, Alvin Toffler, asset-backed security, autonomous vehicles, barriers to entry, behavioural economics, bitcoin, Bitcoin Ponzi scheme, blockchain, Blythe Masters, Bretton Woods, business logic, business process, buy and hold, Capital in the Twenty-First Century by Thomas Piketty, carbon credits, carbon footprint, clean water, cloud computing, cognitive dissonance, commoditize, commons-based peer production, corporate governance, corporate social responsibility, creative destruction, Credit Default Swap, crowdsourcing, cryptocurrency, currency risk, decentralized internet, digital capitalism, disintermediation, disruptive innovation, distributed ledger, do well by doing good, Donald Trump, double entry bookkeeping, driverless car, Edward Snowden, Elon Musk, Erik Brynjolfsson, Ethereum, ethereum blockchain, failed state, fiat currency, financial innovation, Firefox, first square of the chessboard, first square of the chessboard / second half of the chessboard, future of work, Future Shock, Galaxy Zoo, general purpose technology, George Gilder, glass ceiling, Google bus, GPS: selective availability, Hacker News, Hernando de Soto, Higgs boson, holacracy, income inequality, independent contractor, informal economy, information asymmetry, information security, intangible asset, interest rate swap, Internet of things, Jeff Bezos, jimmy wales, Kickstarter, knowledge worker, Kodak vs Instagram, Lean Startup, litecoin, Lyft, M-Pesa, Marc Andreessen, Mark Zuckerberg, Marshall McLuhan, means of production, microcredit, mobile money, money market fund, Neal Stephenson, Network effects, new economy, Oculus Rift, off grid, pattern recognition, peer-to-peer, peer-to-peer lending, peer-to-peer model, performance metric, Peter Thiel, planetary scale, Ponzi scheme, prediction markets, price mechanism, Productivity paradox, QR code, quantitative easing, radical decentralization, ransomware, Ray Kurzweil, renewable energy credits, rent-seeking, ride hailing / ride sharing, Ronald Coase, Ronald Reagan, Salesforce, Satoshi Nakamoto, search costs, Second Machine Age, seigniorage, self-driving car, sharing economy, Silicon Valley, Skype, smart contracts, smart grid, Snow Crash, social graph, social intelligence, social software, standardized shipping container, Stephen Hawking, Steve Jobs, Steve Wozniak, Stewart Brand, supply-chain management, systems thinking, TaskRabbit, TED Talk, The Fortune at the Bottom of the Pyramid, The Nature of the Firm, The Soul of a New Machine, The Wisdom of Crowds, transaction costs, Turing complete, Turing test, Tyler Cowen, Uber and Lyft, uber lyft, unbanked and underbanked, underbanked, unorthodox policies, vertical integration, Vitalik Buterin, wealth creators, X Prize, Y2K, Yochai Benkler, Zipcar

Indeed, integrity is a factor of production as important as labor, capital, and technology.”29 Wall Street lost trust (and nearly killed capitalism) because of a set of integrity violations. But has it changed? And will it change? In the past, corporate social responsibility advocates argued that companies “do well by doing good.” We haven’t seen the evidence. Many companies did well by doing bad—by having bad labor practices in the developing world, by externalizing their costs onto society such as pollution, by being monopolies and gouging customers. The collapse of 2008 taught us for sure that companies “do badly by being bad.”

If You're So Smart, Why Aren't You Happy? by Raj Raghunathan

behavioural economics, Blue Ocean Strategy, Broken windows theory, business process, classic study, cognitive dissonance, deliberate practice, do well by doing good, en.wikipedia.org, epigenetics, fundamental attribution error, hedonic treadmill, job satisfaction, longitudinal study, Mahatma Gandhi, market clearing, meta-analysis, Neil Armstrong, new economy, Phillip Zimbardo, placebo effect, science of happiness, Skype, sugar pill, TED Talk, The Fortune at the Bottom of the Pyramid, Thorstein Veblen, Tony Hsieh, work culture , working poor, zero-sum game, Zipcar

Mike summarizes many of the findings I have just reviewed in the interviews, which can be accessed at https://www.coursera.org/learn/happiness/lecture/ABiEE/week-3-video-8-why-the-need-to-love-and-give-enhances-happiness. To read about the effects of generosity on well-being, see J. A. Piliavin, “Doing Well by Doing Good: Benefits for the Benefactor,” in C. L. M. Keyes and J. Haidt (eds.), Flourishing: Positive Psychology and the Life Well-Lived (Washington, DC: APA, 2003), 227–47. being compassionate makes us “soft”: See J. Aaker, K. D. Vohs, and C. Mogilner, “Nonprofits Are Seen as Warm and For-profits as Competent: Firm Stereotypes Matter,” Journal of Consumer Research 37(2) (2010): 224–37.

Masters of Management: How the Business Gurus and Their Ideas Have Changed the World—for Better and for Worse by Adrian Wooldridge

"Friedman doctrine" OR "shareholder theory", "World Economic Forum" Davos, affirmative action, Alan Greenspan, barriers to entry, behavioural economics, Black Swan, blood diamond, borderless world, business climate, business cycle, business intelligence, business process, carbon footprint, Cass Sunstein, Clayton Christensen, clean tech, cloud computing, collaborative consumption, collapse of Lehman Brothers, collateralized debt obligation, commoditize, company town, corporate governance, corporate social responsibility, creative destruction, credit crunch, crowdsourcing, David Brooks, David Ricardo: comparative advantage, disintermediation, disruptive innovation, do well by doing good, don't be evil, Donald Trump, Edward Glaeser, Exxon Valdez, financial deregulation, Ford Model T, Frederick Winslow Taylor, future of work, George Gilder, global supply chain, Golden arches theory, hobby farmer, industrial cluster, intangible asset, It's morning again in America, job satisfaction, job-hopping, joint-stock company, Joseph Schumpeter, junk bonds, Just-in-time delivery, Kickstarter, knowledge economy, knowledge worker, lake wobegon effect, Long Term Capital Management, low skilled workers, Mark Zuckerberg, McMansion, means of production, Menlo Park, meritocracy, Michael Milken, military-industrial complex, mobile money, Naomi Klein, Netflix Prize, Network effects, new economy, Nick Leeson, Norman Macrae, open immigration, patent troll, Ponzi scheme, popular capitalism, post-industrial society, profit motive, purchasing power parity, radical decentralization, Ralph Nader, recommendation engine, Richard Florida, Richard Thaler, risk tolerance, Ronald Reagan, science of happiness, scientific management, shareholder value, Silicon Valley, Silicon Valley startup, Skype, Social Responsibility of Business Is to Increase Its Profits, Steve Jobs, Steven Levy, supply-chain management, tacit knowledge, technoutopianism, the long tail, The Soul of a New Machine, The Wealth of Nations by Adam Smith, Thomas Davenport, Tony Hsieh, too big to fail, vertical integration, wealth creators, women in the workforce, young professional, Zipcar

When Ralph Nader decided to swap the Potemkin world of pressure groups for electoral politics in 2000, he won only 3 percent of the vote, enough to put George W. Bush in the White House but not enough to prove that he had any popular legitimacy. And what about the claim that companies can do well by doing good? The trouble is that words are cheap: exhaustive studies have demonstrated that for all their claims to the contrary, shoppers and investors are not willing to put their money where their mouths are. Philip Morris is still one of the best-performing stocks in the world. A study by the Wharton Business School, at the University of Pennsylvania, found that “ethical” funds underperform the general market by 31 points a year.

Pivotal Decade: How the United States Traded Factories for Finance in the Seventies by Judith Stein

1960s counterculture, accelerated depreciation, activist lawyer, affirmative action, airline deregulation, Alan Greenspan, anti-communist, Ayatollah Khomeini, barriers to entry, Berlin Wall, blue-collar work, Bretton Woods, business cycle, capital controls, centre right, collective bargaining, Credit Default Swap, crony capitalism, David Ricardo: comparative advantage, deindustrialization, desegregation, do well by doing good, Dr. Strangelove, energy security, Fall of the Berlin Wall, falling living standards, feminist movement, financial deregulation, floating exchange rates, full employment, Glass-Steagall Act, Gunnar Myrdal, guns versus butter model, Ida Tarbell, income inequality, income per capita, intermodal, invisible hand, knowledge worker, laissez-faire capitalism, Les Trente Glorieuses, liberal capitalism, Long Term Capital Management, low interest rates, manufacturing employment, market bubble, Martin Wolf, new economy, Nixon triggered the end of the Bretton Woods system, oil shale / tar sands, oil shock, open economy, Paul Samuelson, payday loans, post-industrial society, post-oil, price mechanism, price stability, Ralph Nader, RAND corporation, reserve currency, Robert Gordon, Robert Solow, Ronald Reagan, Savings and loan crisis, Simon Kuznets, strikebreaker, three-martini lunch, trade liberalization, union organizing, urban planning, urban renewal, War on Poverty, Washington Consensus, working poor, Yom Kippur War

Michael Blumenthal, another economics PhD, had worked in the State Department and Office of Trade Representative in the 1960s. He then moved into the business world, heading Bendix, a successful multinational corporation. A Jewish refugee from Nazi Germany, Blumenthal was the kind of Democratic businessman who believed that you could do well by doing good. Balancing Blumenthal was Secretary of Labor F. Ray Marshall, another PhD in economics. AFL-CIO chief George Meany had urged Carter to appoint John Dunlop, the Harvard labor economist who had been President Ford’s secretary of labor. Dunlop had resigned after Ford vetoed labor reform legislation that he had pledged to sign.

Money for Nothing by Thomas Levenson

Albert Einstein, asset-backed security, bank run, British Empire, carried interest, clockwork universe, credit crunch, do well by doing good, Edmond Halley, Edward Lloyd's coffeehouse, experimental subject, failed state, fake news, Fellow of the Royal Society, fiat currency, financial engineering, financial innovation, Fractional reserve banking, income inequality, Isaac Newton, joint-stock company, land bank, market bubble, Money creation, open economy, price mechanism, quantitative easing, Republic of Letters, risk/return, side project, South Sea Bubble, The Wealth of Nations by Adam Smith, tontine

Contemporary accounts and subsequent investigation show him to be a sincere proponent of the scheme. With his fellow earl, Sunderland, he pushed the South Sea Act through the House of Lords—but he didn’t need to be bribed to support what he seems to have genuinely believed was a good idea. (That’s not to say that those who were bribed couldn’t also believe; doing well by doing good is always a seductive dream.) One more uncorrupted man: Robert Walpole. This was no proof of Walpole’s probity. None of his contemporaries would have believed he was unbribable. The Tories’ failure to prove that he’d dipped his beak into army contracts as secretary of war didn’t dispel the cloud of suspicion, and his sudden rise to real wealth in the office of paymaster showed he knew how to play the game.

The Attention Merchants: The Epic Scramble to Get Inside Our Heads by Tim Wu

1960s counterculture, Aaron Swartz, Affordable Care Act / Obamacare, AltaVista, Andrew Keen, anti-communist, AOL-Time Warner, Apple II, Apple's 1984 Super Bowl advert, barriers to entry, Bob Geldof, borderless world, Brownian motion, Burning Man, Cass Sunstein, citizen journalism, colonial rule, content marketing, cotton gin, data science, do well by doing good, East Village, future of journalism, George Gilder, Golden age of television, Golden Gate Park, Googley, Gordon Gekko, Herbert Marcuse, housing crisis, informal economy, Internet Archive, Jaron Lanier, Jeff Bezos, jimmy wales, John Perry Barlow, Live Aid, Mark Zuckerberg, Marshall McLuhan, McMansion, mirror neurons, Nate Silver, Neal Stephenson, Network effects, Nicholas Carr, Pepsi Challenge, placebo effect, Plato's cave, post scarcity, race to the bottom, road to serfdom, Saturday Night Live, science of happiness, self-driving car, side project, Silicon Valley, Skinner box, slashdot, Snapchat, Snow Crash, Steve Jobs, Steve Wozniak, Steven Levy, Ted Nelson, telemarketer, the built environment, The Chicago School, the scientific method, The Structural Transformation of the Public Sphere, Tim Cook: Apple, Torches of Freedom, Upton Sinclair, upwardly mobile, Virgin Galactic, Wayback Machine, white flight, Yochai Benkler, zero-sum game

By the 2000s, Oprah Winfrey was one of the richest women in the United States, and the first African American billionaire in American history. Though hugely successful, she was not interested in being a dispassionate attention merchant in the manner of a William Paley. Rather, she remained convinced of the possibility of doing well by doing good, according to her vision. She would bring attention to many under-attended issues, like the abuse of children or dearth of opportunities for women or blacks. These were worthy pursuits by any measure. The difficulty arose when she pursued more controversial aspects of her vision of the good.

The fortune at the bottom of the pyramid by C. K. Prahalad

"World Economic Forum" Davos, barriers to entry, business cycle, business process, call centre, cashless society, clean water, collective bargaining, corporate social responsibility, deskilling, digital divide, disintermediation, do well by doing good, farmers can use mobile phones to check market prices, financial intermediation, Hernando de Soto, hiring and firing, income inequality, information asymmetry, late fees, Mahatma Gandhi, market fragmentation, microcredit, new economy, profit motive, purchasing power parity, rent-seeking, shareholder value, The Fortune at the Bottom of the Pyramid, time value of money, transaction costs, vertical integration, wealth creators, working poor

Private enterprise Civil society organizations and local government Economic development and social transformation Development and aid agencies BOP consumers BOP entrepreneurs Part I outlines how that can be accomplished by isolating principles from successful, large-scale experiments involving the entire private sector ecosystem. Most of the examples of successful experimentation are taken from the case studies included in Part II of the book. The bottom line is simple: It is possible to “do well by doing good.” 1 The Market at the Bottom of the Pyramid T urn on your television and you will see calls for money to help the world’s 4 billion poor—people who live on far less than $2 a day. In fact, the cry is so constant and the need so chronic that the tendency for many people is to tune out these images as well as the message.

The Food Revolution: How Your Diet Can Help Save Your Life and Our World by John Robbins

Albert Einstein, caloric restriction, caloric restriction, carbon footprint, clean water, complexity theory, do well by doing good, double helix, Exxon Valdez, food miles, Intergovernmental Panel on Climate Change (IPCC), laissez-faire capitalism, longitudinal study, Mahatma Gandhi, meta-analysis, profit motive, Ralph Nader, randomized controlled trial, Rosa Parks, telemarketer

Fraley, co-president of Monsanto's agricultural sector, seems to agree. After the company bought up yet another competing seed company, he said, "This is not just a consolidation of seed companies. It's really a consolidation of the entire food chain."56 This shines an interesting light on Monsanto's corporate slogan"Doing well by doing good." Are the Risks Overblown? There is a great deal of controversy about the safety of genetically engineered foods. Advocates of biotechnology often say that the risks are overblown. "There have been 25,000 trials of genetically modified crops in the world, now, and not a single incident, or anything dangerous in these releases," said a spokesman for Adventa Holdings, a U.K. biotech firm.

How Money Became Dangerous by Christopher Varelas

activist fund / activist shareholder / activist investor, Airbnb, airport security, barriers to entry, basic income, Bear Stearns, Big Tech, bitcoin, blockchain, Bonfire of the Vanities, California gold rush, cashless society, corporate raider, crack epidemic, cryptocurrency, discounted cash flows, disintermediation, diversification, diversified portfolio, do well by doing good, Donald Trump, driverless car, dumpster diving, eat what you kill, fiat currency, financial engineering, fixed income, friendly fire, full employment, Gordon Gekko, greed is good, initial coin offering, interest rate derivative, John Meriwether, junk bonds, Kickstarter, Long Term Capital Management, low interest rates, mandatory minimum, Mary Meeker, Max Levchin, Michael Milken, mobile money, Modern Monetary Theory, mortgage debt, Neil Armstrong, pensions crisis, pets.com, pre–internet, profit motive, proprietary trading, risk tolerance, Saturday Night Live, selling pickaxes during a gold rush, shareholder value, side project, Silicon Valley, Steve Jobs, technology bubble, The Predators' Ball, too big to fail, universal basic income, zero day

Is it possible to restore the balance? Today there is a lot of discussion and pressure to expand the mission of public companies to encompass more than only profit and maximizing shareholder value. One example is the B Corp, which certifies that a for-profit entity is voluntarily trying to do well by doing good, meeting higher standards of transparency, accountability, and performance. While the notion that “profit” should incorporate more than just bottom-line results and instead flow from a broader social purpose has begun to resonate with many both inside and outside the business community, the concept has had difficulty gaining traction with any entity that can’t afford to compromise its competitive position.

WTF?: What's the Future and Why It's Up to Us by Tim O'Reilly

"Friedman doctrine" OR "shareholder theory", 4chan, Affordable Care Act / Obamacare, Airbnb, AlphaGo, Alvin Roth, Amazon Mechanical Turk, Amazon Robotics, Amazon Web Services, AOL-Time Warner, artificial general intelligence, augmented reality, autonomous vehicles, barriers to entry, basic income, behavioural economics, benefit corporation, Bernie Madoff, Bernie Sanders, Bill Joy: nanobots, bitcoin, Blitzscaling, blockchain, book value, Bretton Woods, Brewster Kahle, British Empire, business process, call centre, Capital in the Twenty-First Century by Thomas Piketty, Captain Sullenberger Hudson, carbon tax, Carl Icahn, Chuck Templeton: OpenTable:, Clayton Christensen, clean water, cloud computing, cognitive dissonance, collateralized debt obligation, commoditize, computer vision, congestion pricing, corporate governance, corporate raider, creative destruction, CRISPR, crowdsourcing, Danny Hillis, data acquisition, data science, deep learning, DeepMind, Demis Hassabis, Dennis Ritchie, deskilling, DevOps, Didi Chuxing, digital capitalism, disinformation, do well by doing good, Donald Davies, Donald Trump, Elon Musk, en.wikipedia.org, Erik Brynjolfsson, fake news, Filter Bubble, Firefox, Flash crash, Free Software Foundation, fulfillment center, full employment, future of work, George Akerlof, gig economy, glass ceiling, Glass-Steagall Act, Goodhart's law, Google Glasses, Gordon Gekko, gravity well, greed is good, Greyball, Guido van Rossum, High speed trading, hiring and firing, Home mortgage interest deduction, Hyperloop, income inequality, independent contractor, index fund, informal economy, information asymmetry, Internet Archive, Internet of things, invention of movable type, invisible hand, iterative process, Jaron Lanier, Jeff Bezos, jitney, job automation, job satisfaction, John Bogle, John Maynard Keynes: Economic Possibilities for our Grandchildren, John Maynard Keynes: technological unemployment, John Zimmer (Lyft cofounder), Kaizen: continuous improvement, Ken Thompson, Kevin Kelly, Khan Academy, Kickstarter, Kim Stanley Robinson, knowledge worker, Kodak vs Instagram, Lao Tzu, Larry Ellison, Larry Wall, Lean Startup, Leonard Kleinrock, Lyft, machine readable, machine translation, Marc Andreessen, Mark Zuckerberg, market fundamentalism, Marshall McLuhan, McMansion, microbiome, microservices, minimum viable product, mortgage tax deduction, move fast and break things, Network effects, new economy, Nicholas Carr, Nick Bostrom, obamacare, Oculus Rift, OpenAI, OSI model, Overton Window, packet switching, PageRank, pattern recognition, Paul Buchheit, peer-to-peer, peer-to-peer model, Ponzi scheme, post-truth, race to the bottom, Ralph Nader, randomized controlled trial, RFC: Request For Comment, Richard Feynman, Richard Stallman, ride hailing / ride sharing, Robert Gordon, Robert Metcalfe, Ronald Coase, Rutger Bregman, Salesforce, Sam Altman, school choice, Second Machine Age, secular stagnation, self-driving car, SETI@home, shareholder value, Silicon Valley, Silicon Valley startup, skunkworks, Skype, smart contracts, Snapchat, Social Responsibility of Business Is to Increase Its Profits, social web, software as a service, software patent, spectrum auction, speech recognition, Stephen Hawking, Steve Ballmer, Steve Jobs, Steven Levy, Stewart Brand, stock buybacks, strong AI, synthetic biology, TaskRabbit, telepresence, the built environment, the Cathedral and the Bazaar, The future is already here, The Future of Employment, the map is not the territory, The Nature of the Firm, The Rise and Fall of American Growth, The Wealth of Nations by Adam Smith, Thomas Davenport, Tony Fadell, Tragedy of the Commons, transaction costs, transcontinental railway, transportation-network company, Travis Kalanick, trickle-down economics, two-pizza team, Uber and Lyft, Uber for X, uber lyft, ubercab, universal basic income, US Airways Flight 1549, VA Linux, warehouse automation, warehouse robotics, Watson beat the top human players on Jeopardy!, We are the 99%, web application, Whole Earth Catalog, winner-take-all economy, women in the workforce, Y Combinator, yellow journalism, zero-sum game, Zipcar

Pierre Omidyar, the founder of eBay who went on to become a pioneer in what is now sometimes called “West Coast philanthropy,” which uses both traditional charitable giving and strategic startup investing as tools toward the same social goals, once told me, “I invest in businesses that can only do well by doing good.” Whether we work explicitly on causes and the public good, or work to improve our society by building a business, it’s important to think about the big picture, and what matters not just to us, but to building a sustainable economy in a sustainable world. 4. ASPIRE TO BE BETTER TOMORROW THAN YOU ARE TODAY.

Adaptive Markets: Financial Evolution at the Speed of Thought by Andrew W. Lo

Alan Greenspan, Albert Einstein, Alfred Russel Wallace, algorithmic trading, Andrei Shleifer, Arthur Eddington, Asian financial crisis, asset allocation, asset-backed security, backtesting, bank run, barriers to entry, Bear Stearns, behavioural economics, Berlin Wall, Bernie Madoff, bitcoin, Bob Litterman, Bonfire of the Vanities, bonus culture, break the buck, Brexit referendum, Brownian motion, business cycle, business process, butterfly effect, buy and hold, capital asset pricing model, Captain Sullenberger Hudson, carbon tax, Carmen Reinhart, collapse of Lehman Brothers, collateralized debt obligation, commoditize, computerized trading, confounding variable, corporate governance, creative destruction, Credit Default Swap, credit default swaps / collateralized debt obligations, cryptocurrency, Daniel Kahneman / Amos Tversky, delayed gratification, democratizing finance, Diane Coyle, diversification, diversified portfolio, do well by doing good, double helix, easy for humans, difficult for computers, equity risk premium, Ernest Rutherford, Eugene Fama: efficient market hypothesis, experimental economics, experimental subject, Fall of the Berlin Wall, financial deregulation, financial engineering, financial innovation, financial intermediation, fixed income, Flash crash, Fractional reserve banking, framing effect, Glass-Steagall Act, global macro, Gordon Gekko, greed is good, Hans Rosling, Henri Poincaré, high net worth, housing crisis, incomplete markets, index fund, information security, interest rate derivative, invention of the telegraph, Isaac Newton, it's over 9,000, James Watt: steam engine, Jeff Hawkins, Jim Simons, job satisfaction, John Bogle, John Maynard Keynes: Economic Possibilities for our Grandchildren, John Meriwether, Joseph Schumpeter, Kenneth Rogoff, language acquisition, London Interbank Offered Rate, Long Term Capital Management, longitudinal study, loss aversion, Louis Pasteur, mandelbrot fractal, margin call, Mark Zuckerberg, market fundamentalism, martingale, megaproject, merger arbitrage, meta-analysis, Milgram experiment, mirror neurons, money market fund, moral hazard, Myron Scholes, Neil Armstrong, Nick Leeson, old-boy network, One Laptop per Child (OLPC), out of africa, p-value, PalmPilot, paper trading, passive investing, Paul Lévy, Paul Samuelson, Paul Volcker talking about ATMs, Phillips curve, Ponzi scheme, predatory finance, prediction markets, price discovery process, profit maximization, profit motive, proprietary trading, public intellectual, quantitative hedge fund, quantitative trading / quantitative finance, RAND corporation, random walk, randomized controlled trial, Renaissance Technologies, Richard Feynman, Richard Feynman: Challenger O-ring, risk tolerance, Robert Shiller, Robert Solow, Sam Peltzman, Savings and loan crisis, seminal paper, Shai Danziger, short selling, sovereign wealth fund, Stanford marshmallow experiment, Stanford prison experiment, statistical arbitrage, Steven Pinker, stochastic process, stocks for the long run, subprime mortgage crisis, survivorship bias, systematic bias, Thales and the olive presses, The Great Moderation, the scientific method, The Wealth of Nations by Adam Smith, The Wisdom of Crowds, theory of mind, Thomas Malthus, Thorstein Veblen, Tobin tax, too big to fail, transaction costs, Triangle Shirtwaist Factory, ultimatum game, uptick rule, Upton Sinclair, US Airways Flight 1549, Walter Mischel, Watson beat the top human players on Jeopardy!, WikiLeaks, Yogi Berra, zero-sum game

The Adaptive Markets Hypothesis tells us that we can improve a market, a method, or an entire financial system, adapting it to our needs and the challenges of our environment. The same traits that make the financial system prone to the madness of mobs also make the financial system extremely effective in gathering and deploying the wisdom of crowds. Finance doesn’t have to be a zero-sum game if we don’t let it. We can do well by doing good, and if we all work together, we can do it now. I can be Harvey Lodish, and so can you. Figure 3.1. Two views of the human brain (left figures) and color-coded renditions of Brodmann’s areas. Source: Mark Dow. Research Assistant Brain Development Lab, University of Oregon. Figure 3.2.

The Dream Machine: J.C.R. Licklider and the Revolution That Made Computing Personal by M. Mitchell Waldrop

Ada Lovelace, air freight, Alan Turing: On Computable Numbers, with an Application to the Entscheidungsproblem, Albert Einstein, anti-communist, Apple II, battle of ideas, Berlin Wall, Bill Atkinson, Bill Duvall, Bill Gates: Altair 8800, Bletchley Park, Boeing 747, Byte Shop, Charles Babbage, Claude Shannon: information theory, Compatible Time-Sharing System, computer age, Computing Machinery and Intelligence, conceptual framework, cuban missile crisis, Dennis Ritchie, do well by doing good, Donald Davies, double helix, Douglas Engelbart, Douglas Engelbart, Dynabook, experimental subject, Fairchild Semiconductor, fault tolerance, Frederick Winslow Taylor, friendly fire, From Mathematics to the Technologies of Life and Death, functional programming, Gary Kildall, Haight Ashbury, Howard Rheingold, information retrieval, invisible hand, Isaac Newton, Ivan Sutherland, James Watt: steam engine, Jeff Rulifson, John von Neumann, Ken Thompson, Leonard Kleinrock, machine translation, Marc Andreessen, Menlo Park, Multics, New Journalism, Norbert Wiener, packet switching, pink-collar, pneumatic tube, popular electronics, RAND corporation, RFC: Request For Comment, Robert Metcalfe, Silicon Valley, Skinner box, Steve Crocker, Steve Jobs, Steve Wozniak, Steven Levy, Stewart Brand, Ted Nelson, The Soul of a New Machine, Turing machine, Turing test, Vannevar Bush, Von Neumann architecture, Wiener process, zero-sum game

By December 1955, a year after the first of these machines was delivered, IBM had installed 120 of them and taken orders for 750 more; the IBM 650, as it came to be called, would eventually become known as the Model T of the computer industry, the first mass-market computer. THE FREEDOM TO MAKE MISTAKES 117 Nevertheless, there was a certain element of patriotism involved here, as quaint as that now seems. Even granting that this was a classic chance for the company to do well by doing good-collaborating with Lincoln Lab, after all, meant getting the first crack at that new technology from Whirlwind-there is lit- tle doubt that IBM's higher-ups felt the same sense of national peril as everyone else. So in the end, as Forrester would note in 1983, "IBM management really threw their resources into the program without restraint."

Bourgeois Dignity: Why Economics Can't Explain the Modern World by Deirdre N. McCloskey

"Friedman doctrine" OR "shareholder theory", Airbnb, Akira Okazaki, antiwork, behavioural economics, big-box store, Black Swan, book scanning, British Empire, business cycle, buy low sell high, Capital in the Twenty-First Century by Thomas Piketty, classic study, clean water, Columbian Exchange, conceptual framework, correlation does not imply causation, Costa Concordia, creative destruction, critique of consumerism, crony capitalism, dark matter, Dava Sobel, David Graeber, David Ricardo: comparative advantage, deindustrialization, demographic transition, Deng Xiaoping, do well by doing good, Donald Trump, double entry bookkeeping, electricity market, en.wikipedia.org, epigenetics, Erik Brynjolfsson, experimental economics, Ferguson, Missouri, food desert, Ford Model T, fundamental attribution error, Garrett Hardin, Georg Cantor, George Akerlof, George Gilder, germ theory of disease, Gini coefficient, God and Mammon, Great Leap Forward, greed is good, Gunnar Myrdal, Hans Rosling, Henry Ford's grandson gave labor union leader Walter Reuther a tour of the company’s new, automated factory…, Hernando de Soto, immigration reform, income inequality, interchangeable parts, invention of agriculture, invention of writing, invisible hand, Isaac Newton, Islamic Golden Age, James Watt: steam engine, Jane Jacobs, John Harrison: Longitude, John Maynard Keynes: technological unemployment, Joseph Schumpeter, Kenneth Arrow, knowledge economy, labor-force participation, lake wobegon effect, land reform, liberation theology, lone genius, Lyft, Mahatma Gandhi, Mark Zuckerberg, market fundamentalism, means of production, middle-income trap, military-industrial complex, Naomi Klein, new economy, Nick Bostrom, North Sea oil, Occupy movement, open economy, out of africa, Pareto efficiency, Paul Samuelson, Pax Mongolica, Peace of Westphalia, peak oil, Peter Singer: altruism, Philip Mirowski, Pier Paolo Pasolini, pink-collar, plutocrats, positional goods, profit maximization, profit motive, public intellectual, purchasing power parity, race to the bottom, refrigerator car, rent control, rent-seeking, Republic of Letters, road to serfdom, Robert Gordon, Robert Shiller, Ronald Coase, Scientific racism, Scramble for Africa, Second Machine Age, secular stagnation, seminal paper, Simon Kuznets, Social Responsibility of Business Is to Increase Its Profits, spinning jenny, stakhanovite, Steve Jobs, tacit knowledge, TED Talk, the Cathedral and the Bazaar, The Chicago School, The Market for Lemons, the rule of 72, The Spirit Level, The Wealth of Nations by Adam Smith, Thomas Malthus, Thorstein Veblen, total factor productivity, Toyota Production System, Tragedy of the Commons, transaction costs, transatlantic slave trade, Tyler Cowen, Tyler Cowen: Great Stagnation, uber lyft, union organizing, very high income, wage slave, Washington Consensus, working poor, Yogi Berra

(An economist notes that the distinction is meaningless, since the long run is a sequence of short runs, but no matter.) Franklin speaks of his friend William Coleman, “then a merchant’s clerk, about my age, who had the coolest clearest head, the best heart, and the exactest morals, of almost any man I ever met with. He became afterwards a merchant of great note, and one of our provincial judges.”14 Doing well by doing good. But note that the tests Franklin here applies would be agreeable to Smith’s impartial spectator or his encomium to the merchant of Glasgow, extending beyond mere short-run worldly success—yet (quoth Ben) not inconsistent with it, either. The prudence-only reading is not entirely unjustified by the text of the Autobiography.

Money and Power: How Goldman Sachs Came to Rule the World by William D. Cohan

"Friedman doctrine" OR "shareholder theory", "RICO laws" OR "Racketeer Influenced and Corrupt Organizations", Alan Greenspan, asset-backed security, Bear Stearns, Bernie Madoff, Bob Litterman, book value, business cycle, buttonwood tree, buy and hold, collateralized debt obligation, Cornelius Vanderbilt, corporate governance, corporate raider, credit crunch, Credit Default Swap, credit default swaps / collateralized debt obligations, currency risk, deal flow, diversified portfolio, do well by doing good, fear of failure, financial engineering, financial innovation, fixed income, Ford paid five dollars a day, Glass-Steagall Act, Goldman Sachs: Vampire Squid, Gordon Gekko, high net worth, hiring and firing, hive mind, Hyman Minsky, interest rate swap, John Meriwether, junk bonds, Kenneth Arrow, London Interbank Offered Rate, Long Term Capital Management, managed futures, margin call, market bubble, mega-rich, merger arbitrage, Michael Milken, moral hazard, mortgage debt, Myron Scholes, paper trading, passive investing, Paul Samuelson, Ponzi scheme, price stability, profit maximization, proprietary trading, risk tolerance, Ronald Reagan, Saturday Night Live, short squeeze, South Sea Bubble, tail risk, time value of money, too big to fail, traveling salesman, two and twenty, value at risk, work culture , yield curve, Yogi Berra, zero-sum game

He made no mention of Whitehead’s role as finance co-chairman of the RNC, in which he raised millions of dollars for the president’s party. On July 8, by unanimous voice vote, Whitehead was confirmed as deputy secretary of state. His tenure at Goldman Sachs was officially over. He returned his book advance to McGraw-Hill. He never finished the book he set out to write about how corporations do well by doing good. CHAPTER 10 GOLDMAN SAKE Very little changed at Goldman following Whitehead’s retirement. “If anything did, I don’t know what it would have been,” Doty said. “John Weinberg continued in there. And he was placing more reliance on Rubin and Friedman.” One of Weinberg’s first decisions as sole head of Goldman was to take Rubin and Friedman out of their comfort zones—Rubin had been head of the firm’s trading and arbitrage businesses (with the additional responsibility for J.