Battle for the Soul of Bitcoin

November 15th, 2017 by Kara in Case Studies, Essays

  By Adam Bhala Lough   Adam Bhala Lough is the award winning American director and screenwriter of the soon to be released documentary on cryptocurrencies and crypto- anarchists, “The New Radical” (watch excerpt). He writes* here on Bitcoin and the three-way struggle for its soul.   There is a war being waged for the soul of Bitcoin. On the one hand you have those who want to stay true to the roots of Bitcoin. The original programmers who were inspired by the Open Source movement and the Cypherpunk movement. They created Bitcoin with these tenets ...

When Businessmen Rule the State

May 11th, 2017 by Kara in Case Studies, Essays

  By: Kara Tan Bhala Striking parallels between two billionaire businessmen heads of state, now exiled Thaksin Shinawatra and Donald Trump. Part 3 of SPI’s Trump Financial Ethics Watch Series “If you monitor what Donald Trump is saying, he’s bluffing, the man. That’s really the culture of a businessman.” While there is “some similarity” between Thaksin Shinawatra, Financial Times Thaksin Shinawatra: Billionaire Businessman Turned Politician Thaksin Shinawatra was elected as prime minister of Thailand in 2001. He was a businessman billionaire who made his vast fortune in telecoms. Espousing populist views, he cynically seized political advantage ...

The Alchemy of the G-30 Report on Banking Conduct and Culture

May 6th, 2016 by Kara in Case Studies, Essays

By: Shazia Khan Afghan Summary The term “alchemy” has a rich and diverse origin and, hence, meaning. For example, alchemy has been defined as a chemical science, a speculative philosophy, and even a power that transforms something in a mysterious or impressive manner. This paper discusses the mysterious nature of the conclusions of the Group of Thirty (G-30) Report on Banking Conduct and Culture. In particular, how the recommendations lack a quantitative scientific or empirical basis. Despite these shortcomings however, this paper concludes that the normativity of the report should not be understated. ...

Ferguson: A Financial Ethics Explanation

February 25th, 2016 by Kara in Case Studies, Essays

  By: Sarah Myers Macks Creek Law and its Exploitative Effects in Revenue Generation by Police and Courts Ferguson is a city in St. Louis County, Missouri, USA. The city is now infamous as the place where racial unrest and protests began and then spread around the country after Michael Brown, an 18 year old African American, was fatally shot by Darren Wilson, a Caucasian policeman. This story investigates how Macks Creek Law contributed to events in Ferguson. Missouri created Macks Creek Law to limit the amount of revenue municipalities can collect from traffic ...

Some Solutions to Economic Inequality

March 13th, 2015 by Kara in Case Studies, Essays

The fourth in SPI’s series on Inequality   By: Remy Smith For most families in the US, incomes are stagnating as real wages remain steady or are actually declining. Stagnating incomes mean that the “middle class is too weak to support the consumer spending that has historically driven our economic growth” (Stiglitz). Middle class households, “who are most likely to spend their incomes,” (Stiglitz) actually have lower incomes than they did in 1996, when adjusted for inflation. A strong middle class drives economic growth; however, today the middle class is pressed for money. ...

The Value of Financial Ethics, Part II

August 25th, 2014 by Kara in Essays, Ethics 101

By: Judy Zhu GLOBAL FINANCIALISATION AND THE NEED FOR FINANCIAL ETHICS I Introduction Philosophical commentator, Alan R. Malachowski once made the remark that finance nowadays seems to be playing an ‘ethically-enervating role’, as the rise of the doctrines of ‘The New Finance’ Whilst it is not the purpose of this inquiry to address the truth or untruth of every aspect of Malachowski’s claim, the central premise of this research note can be stated in the following terms: if it is true that matters of finance indeed ‘dominate everyday life’, then such a pervasive ...

The Effectiveness and Ethics of Economic Sanctions

July 16th, 2014 by Kara in Case Studies, Essays

By: Marcus Boomen   Economic sanctions are an important feature of the modern economic, political and social landscape, lauded as the humanitarian alternative to war, with over 500 cases of sanctions being implemented in the 1990’s alone. They are implemented with the stated intention of altering a targeted state’s behaviour, to elicit conformity with international ethical norms. An analysis of the effectiveness and ethics of economic sanctions reveals they have been a resounding failure. The only focus of academic debate remaining is centred on exactly how ineffective economic sanctions are. Data and theory demonstrate ...

THE SINS OF FINANCIERS

May 20th, 2014 by Kara in Essays

  Michael Black, the librarian of Blackfriars Hall and former Director of the American Stock Exchange, revisits the sins of corporate finance Dr Michael Black in the library of Blackfriars Hall, St Giles, Oxford Did my uncle create the financial bomb that finally blew up the world economy in 2007–8? Put it this way. Along with Myron S Scholes and Robert C Merton, Uncle Black (Fischer Black to everyone else) was credited in the early 1970s with formulating the mathematical model that led to derivatives. To cite just one post-Lehman historian: “Without derivatives, leveraged ...

Applying Confucian Virtues in Finance

February 13th, 2014 by Kara in Essays, Ethics 101

By: Charlotte L.Y. Tang   Confucianism was founded in the late Spring and Autumn Period in ancient China (~770BC- ~476BC). The key figure and founder of the philosophy is Confucius.. Confucianism blossomed throughout ancient Chinese history with the help of philosophers and emperors, such as Mengzi. In ancient times, Confucianism was not only prominent in mainstream public opinion and as social requirement but also formed the core of some legal systems. Confucian principles were adopted as the legal standard.. Centered on venerating others and respecting oneself, Confucianism was also a popular tool used by emperors ...

What should we charge the poor? Ethics in microfinance.

January 2nd, 2014 by Kara in Economics, Essays, Videos

By: Preeti Dhillon     Microfinance is a popular poverty alleviation tool The following examines the ethics of a very popular poverty alleviation tool: microfinance. Specifically, it focuses on one area of this umbrella instrument, microcredit, that is, providing small loans ranging from $50-$1000 USD to those who typically cannot access them from other institutions. Microfinance has become a very popular policy tool, especially within the mainstream agenda. The UN declared 2005 the ‘International Year of Microcredit’ and with the 2006 Nobel Peace Prize going to Professor Muhammad Yunus and his brainchild, Grameen Bank, ...