Hong Kong: Economic Freedom Belies Crony Capitalism

hong kong sunset

By: Jackie Connor

Does empirical evidence support the perception that Hong Kong is a free market capitalistic economy or does it suggest pervasive crony capitalism?

Crony capitalism, which is not inherently criminal, largely replaces market economies with political markets, in which economic success depends on harnessing connections rather than creating valuable products and in which several players can successfully block out competitors. While Hong Kong’s capitalist reputation has historically been supported by Heritage Foundation’s Individual Economic Freedom Index (IEF), which bestowed world’s freest economy for the past 18 years on Hong Kong

...

Continue reading this entry »

MBA Programs Undermine Ethics: An Interview with Matthias Huehn

Matthias Huehn

SPI: Professor Huehn, your provocatively titled article, “You Reap What You Sow: How MBA Programs Undermine Ethics” was recently published in the prestigious Journal of Business Ethics.Can you give our readers a summary of the arguments in your paper?

MH: I looked at three aspects of business education: the pedagogy, the structure of degree programs, and the ethical underpinnings of the theories taught. Milton Friedman once said that economics/business is a science and therefore ethics has no place in the formal science of economics. But economics is a

...

Continue reading this entry »

Moral Cents

Financial EthicsMoral Cents is The Journal of Ethics in Finance, produced on a regular basis by the Seven Pillars Institute for Global Finance and Ethics. Click HERE to see the latest issues and read them in full.

Seven Pillars Institute for Global Finance and Ethics (SPI) and the Centre for Commercial Law Studies (CCLS) at Queen Mary University of London have a collaborative affiliation in their work on ethics, law, and regulation in finance. The goal of the collaboration is to foster a dialogue on important ethical policy issues affecting the financial services industry.

Read the Collaboration Announcement

Seven Pillars Institute for Global Finance and Ethics and IntegTree LLC have a collaborative affiliation. The two organizations plan to create online training programs in financial ethics and compliance management. The Programs will help financial institutions improve conformity with the law while also fostering ethical awareness.

Read the collaboration announcement.