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Showing 9 of 20 Publications in ESG
Scholarship Abstract Bansal et al.’s Point piece, “Strategy’s Ecological Fallacy: How strategy scholars have contributed to the ecological crisis and what we can do about it,” . . .
Bansal et al.’s Point piece, “Strategy’s Ecological Fallacy: How strategy scholars have contributed to the ecological crisis and what we can do about it,” calls for reforming the strategy field to focus on the natural environment, ecological cycles, and interconnections across natural and social levels, in service of value creation for ‘a defined ecosystem that comprises respect for the natural environment’. We doubt that such new foundations are necessary or useful. We argue that Bansal et al. misconstrue the evolution and content of strategy thinking; downplay the usefulness of existing tools for dealing with their issues of concern; overlook problems of measurement, collective action, government failure, and cronyism encouraged by their preferred policies; embrace an unnecessarily alarmist worldview; and underappreciate the social benefits of the market-based institutions they criticize. We suggest instead that a market system based on clearly delineated property rights, prices that freely adjust to reflect scarcities, and an institutional environment that encourages entrepreneurship and innovation remains an underappreciated instrument for protection of the natural environment, one that is superior to centralized and regulatory alternatives.
Popular Media Capitalism has raised millions, if not billions, of people out of poverty. It is the greatest engine of human flourishing that has ever existed. It . . .
Capitalism has raised millions, if not billions, of people out of poverty. It is the greatest engine of human flourishing that has ever existed. It is worth defending, but those willing to do so are few and far between, even in the societies that have most benefitted from the wealth that capitalism has generated. In the late twentieth century, economist Milton Friedman stood against the tide of anti-capitalist propaganda that flourished in the halls of academia.
Read the full piece here.
Presentations & Interviews ICLE Academic Affiliate David Teece was a guest on the Insights from the Top podcast to discuss the importance of gender and racial diversity in . . .
ICLE Academic Affiliate David Teece was a guest on the Insights from the Top podcast to discuss the importance of gender and racial diversity in corporate governance, the state of securitization in emerging markets, what ownership means for rising attorneys, and how the firm has remained strong for more than a century. The full episode is embedded below.
Scholarship Abstract This Perspective applies a multidimensional, whole-systems energy justice lens to the electrical power grid, conceived of as the national electricity transmission and distribution network . . .
This Perspective applies a multidimensional, whole-systems energy justice lens to the electrical power grid, conceived of as the national electricity transmission and distribution network in the United States. The electrical power grid exists primarily to provide reliable and safe energy services to anyone and everyone, and at any time of the day. It represents a massive system of physical infrastructure that most scholars treat as agnostic and inherently void of equity dimensions. But underlying the poles and wires are a complicated set of challenges that have equity implications. For example, better power lines are installed in wealthier neighborhoods; lower-income neighborhoods experience blackouts significantly more often than higher-income neighborhoods; and the siting of transmission infrastructure infringes on local communities and ecosystems. In this Perspective, we discuss the philosophical underpinnings of justice and equity, define energy justice, and discuss how the grid can cause and perpetuate four different types of inequity: demographic within social groups and communities, spatial across urban and rural locations, temporal across time, and interspecies in terms of damaging the environment. We chart these four dimensions with twelve distinct examples and provide recommendations to create a more equitable and just future grid.
Popular Media What will come of the presidents of three of America’s most prestigious universities being called on the congressional carpet to explain their responses to Hamas’ . . .
What will come of the presidents of three of America’s most prestigious universities being called on the congressional carpet to explain their responses to Hamas’ brutal assault on innocent Israelis?
Will the resignations of University of Pennsylvania President Liz Magill and Harvard President Claudine Gay mark a turning point for American higher education? Will the leaders of other colleges and universities be encouraged to reflect on how far their institutions have strayed from their historic missions — namely, the pursuit of truth and dissemination of knowledge?
Not if the lesson learned is implementing the policies implicit in the legislators’ questions.
TOTM As we approach a presidential election year, it is time to begin developing a comprehensive reform agenda for the Federal Trade Commission (FTC). In that . . .
As we approach a presidential election year, it is time to begin developing a comprehensive reform agenda for the Federal Trade Commission (FTC). In that spirit, this post proposes 12 reforms that could be implemented by new leadership, either through unilateral action by a new chair or (in some cases) majority votes of the commission.
Popular Media Investors, customers, and employees are increasingly interested in evaluating firms’ environmental impact. This is good news. We are all better off when companies are accountable . . .
Investors, customers, and employees are increasingly interested in evaluating firms’ environmental impact. This is good news. We are all better off when companies are accountable for their actions. Seizing on this trend, the SEC has a pending proposal to mandate disclosure of companies’ carbon emissions and Governor Newsom has committed to signing a bill that does the same in California. This is bad news. Mandatory disclosures will do more harm than good.
Scholarship The unraveling of the rule of law in finance is inherent in the system’s discretionary process of regulation. Each financial crisis begets new regulations and . . .
The unraveling of the rule of law in finance is inherent in the system’s discretionary process of regulation. Each financial crisis begets new regulations and new regulatory agencies with more expansive and discretionary powers. The general entanglement of finance, leftist interest groups, and the federal regulatory apparatus has created a threat to freedom that is almost unique in history. Leftist activists, “woke” corporations, and regulators and politicians have recognized and acted on the opportunity to use the financial regulatory system both to enact preferred policies through anti-democratic means and to silence their ideological opponents. As governmental power grows, the threat of its misuse grows concomitantly.
Scholarship Abstract Stakeholder capitalism is being pushed both by ideological partisans who have little respect for ownership rights and, perhaps worse, by those who would benefit . . .
