Moral Cents (Summer/Fall 2014) now available!

October 30th, 2014 by Kara in Journal

Financial regulations have proliferated since the Global Financial Crisis. Some, having lost their faith in self-regulation, welcome the new rules. Others, clinging to the belief that a free market ensures financial actors will self-regulate, deplore the promulgation of clumsy and poorly designed regulations. Both sides are right. Regulations are necessary in an ethically unconstrained world but they are sometimes badly thought out, arise too hastily, and have negative unintended consequences. Less regulation is of course more desirable. Yet, for self-regulation to function properly, individual actors must possess a sense of ...

Abenomics: A Utilitarian Analysis

October 17th, 2014 by Kara in Case Studies, Ethics 101

By: Richard Hudson Since the 2012 Japanese elections, Shinzo Abe, the new Prime Minister, has been pursuing a radical new economic policy approach. Prime Minister Abe promised three “arrows” of reform; fiscal stimulus, monetary easing and structural reforms. These three arrows of reform have been collectively termed “Abenomics.” These economic policies have attracted considerable attention internationally, as they mark a significant departure from the economic policies of the Japanese Government which have guided the country since the Japanese banking crisis of the late 1980’s and early 90’s. While the financial and ...

Hong Kong: Economic Freedom Belies Crony Capitalism

October 1st, 2014 by Kara in Case Studies, Economics

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 (2014 ...