Skip to content
Description
By: Brad Swanson
Why socially responsible investment promises to make investors richer and the world better—but fails at both.
Wall Street thrives by telling investors that clever financial strategies can reverse the trade-off between corporate profits and social progress. But the link between greater corporate social responsibility and improved financial performance is an illusion.
Profit vs. Progress dissects the massive $30 trillion “socially responsible” or “sustainable” finance industry—and finds the emperor has no clothes. At best, sustainable investing typically delivers average rates of financial and social returns. But it makes social and environmental crises harder to overcome, by using financial gimmickry to distract our attention from real solutions.
Author Brad Swanson argues that corporations in competitive markets act without moral values, and ethical investment can’t prod them to greater social responsibility. The only way to change the outcome of the game is to change the rules. The solutions will have to come from legislatures, not corporate boardrooms.
Swanson calls for public policies to make businesses better serve all of society, not just their shareholders—without blunting their edge. His recommendations include breaking up the cartel of large asset managers, rebuilding the influence of organized labor, curbing the rapacious behavior of the private equity industry, and eliminating the conflict of interest that pits corporate directors against the greater good of the community.
The author shows that in previous eras of social crisis caused by corporate excess, meaningful reforms emerged through the political process. Today as well, the path forward is clear—if we have the will to follow it.
Why socially responsible investment promises to make investors richer and the world better—but fails at both.
Wall Street thrives by telling investors that clever financial strategies can reverse the trade-off between corporate profits and social progress. But the link between greater corporate social responsibility and improved financial performance is an illusion.
Profit vs. Progress dissects the massive $30 trillion “socially responsible” or “sustainable” finance industry—and finds the emperor has no clothes. At best, sustainable investing typically delivers average rates of financial and social returns. But it makes social and environmental crises harder to overcome, by using financial gimmickry to distract our attention from real solutions.
Author Brad Swanson argues that corporations in competitive markets act without moral values, and ethical investment can’t prod them to greater social responsibility. The only way to change the outcome of the game is to change the rules. The solutions will have to come from legislatures, not corporate boardrooms.
Swanson calls for public policies to make businesses better serve all of society, not just their shareholders—without blunting their edge. His recommendations include breaking up the cartel of large asset managers, rebuilding the influence of organized labor, curbing the rapacious behavior of the private equity industry, and eliminating the conflict of interest that pits corporate directors against the greater good of the community.
The author shows that in previous eras of social crisis caused by corporate excess, meaningful reforms emerged through the political process. Today as well, the path forward is clear—if we have the will to follow it.
You may also like
熱銷中 Top Trending
Dog Man 14: Dog Man: Big Jim Believes: A Graphic Novel (Dog Man #14)
Sale priceHK$85.00
Regular priceHK$150.00
In stock
Dragon Masters #30 Vortex of the Chaos Dragon (Branches) (Tracey West)
Sale priceHK$55.00
Regular priceHK$69.00
In stock
Dragon Masters #29 (正版) Magic of the Wizard Dragon (Branches) (Tracey West)
Sale priceHK$48.00
Regular priceHK$69.00
In stock
Dragon Masters #28 (正版) Night of the Dream Dragon (Branches) (Tracey West)
Sale priceHK$48.00
Regular priceHK$69.00
In stock
Beast Quest Ice and Fire (15 Books) (Adam Blade)
Sale priceHK$346.00
Regular priceHK$1,257.90
In stock
Magic Tree House Fact Tracker Graphic Novel: Space
Sale priceFrom HK$70.00
Regular priceHK$110.00
In stock
National Geographic Little Kids First Big Book of the World
Sale priceFrom HK$96.00
Regular priceHK$150.00
In stock