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Mike Guillaume ... The Seven Deadly Sins of Capitalism
THE SEVEN DEADLY SINS OF CAPITALISM
Seven deadly sins of capitalism cover
CONTENTS
ABOUT THE AUTHOR
INTRODUCTION: ON SINS, VIRTUES, LIBERALISM, AND CAPITALISM
On a personal note
Liberalism # capitalism
Capitalism is no longer what it used to be
Sins?
Seven sins – Take two
Notes for the reader
PART 1 SEVEN DEADLY SINS OF CAPITALISM
SIN NO. 1: TOO BIG
Big pharma (prescription 1)
Bigger in Detroit –and then?
Mergers: (some) good motives and (often) bad results
Three other bad examples (and related disorders)
Big in pharma (prescription 2)
GE: market value was too big to be true
Too big to fail?
Small, beautiful, and more than that
SIN NO. 2: TOO FAR
Beer buddies
Eating others’ lunch: chocolate, mustard, olive oil
Another round of beers
Faraway shareholders
When Iceland melted...
... and London felt the cold...
... in a chocolate-box economy
Banks go too far from home
How national can be a company today?
The well and the ocean
SIN NO. 3: TOO SHORT
Enronitis, or share price at the top
Market cap: what goes up...
Shareholder value: yes, but for whom?
“Making the quarter” (and short expectations)
Nothing ventured, something lost
The long and short (in) reports
Product myopia –again
SIN NO. 4: TOO SELFISH
The butcher and the baker are not alone –or are gone
Externalities and responsibilities: doing nothing or doing some good
Do as I say... – Acting and reporting responsibly
Up to no good – Corporate irresponsibility
SIN NO. 5: TOO GREEDY
Mr. Greed goes to Wall Street
Down on Main Street
Making money with money
Pyramids and charades: another Wall Street shuffle
Bankers: the good, the bad and the ugly
SIN NO. 6: TOO WILD
From the Wild West to the Far East
Inequalities on the rise
Bursts, busts, and shocks
The euro: a very hard currency
War, what is it good for?
SIN NO. 7: TOO MUCH
TINA and the market religion
Angela and the deficit dogma
When more market means less democracy
Private gains and public losses
Common goods or just commodities?
Energy: privatizing is not always electrifying
Health: who is taking care?
Too much food?
On the rails, in the air, in the box: all to markets
Made in sport
Beware a market society
PART 2 SEVEN OTHER NOT SO VENIAL SINS
SIN NO. 8: PROGRESS AND GROWTH: THE GOOD AND THE BAD
“If you can’t count it, it doesn’t count”
Infinite progress, but finite resources
What is the drive?
SIN NO. 9: RATIONAL ECONOMIC AGENTS ARE (OFTEN) CRAZY
Emotions and herd instinct
Me-tooism
Financial weapons of mass destruction?
Is Homo economicus a rating agent?
SIN NO. 10: INTERCONNECTED AND OVEREXPOSED
“Happy” globalization...
... also means interlocking fragility
Connected –for better or worse
SIN NO. 11: AMERICAN CREDIT (SHOT IN HOLLYWOOD)
“One for the money. Two for the show”
From the American dream to the credit nightmare
So much for the American century
SIN NO. 12: WHAT DO WE BUY, ACTUALLY?
Supermarket capitalism
Appearances can be deceptive
On the debit side of the road
Do we really need all that stuff?
SIN NO. 13: IS SERVICE INCLUDED?
Service economies...
... are not always well served
SIN NO. 14: WHITE AND BIG LIES
Big shots, bigger lies
Bank statements
“A business of words”
PART 3 REINVENTING A MODEL FOR THE ECONOMY, SOCIETY AND WELFARE ... BUSINESS AS USUAL –OR NOT
Down but not out
Response to crises: plus çà change...
Back to the roots
As much market as possible, as much regulation as necessary
A more diverse economic model
Free markets, but also market-free
POSSIBLE ACTIONS AND REINVENTION POLICIES: A TOOLBOX
VERSUS CONSENSUS - SEVEN ALTERNATIVE VALUES
ACKNOWLEDGMENTS
INDEX
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