J.R.’s Zaphne Blog News for 05-17-2018

Who Likes Beer ? – Jo Abbess

As if focusing all our efforts and energy on repairing an already-breaking machine of trade with its destructive exploitation of resources and labour is going to stop climate change. The Holy Economy can go hang if we don’t address Climate Change, and it will, because Climate Change is already sucking the lifeblood out of production and trade. The non-governmental organisations – the charities, aid and development agencies and the like, do not know how to deal with climate change. Well, they can, and they do, and you better watch out for more poor, starving African type campaigning, because programmes for adaptation to climate change are important, and I’ve never said they’re not, but they don’t address mitigation – the preventing of climate change. People are talking in hushed, reverential tones about Make Climate History. 

Now, they’re doing it again with climate change. A truly independent strongly critical movement centred around the Campaign against Climate Change organised a demonstration of protest every year in London, leading people either from or to the American Embassy, as the USA was the most recalcitrant on taking action to control greenhouse gas emissions. They organised events sometimes on the very same day as the Campaign against Climate Change, and their inclusive hippy message was all lovehearts and flowers and we wouldn’t hurt a fly type calls for change. In the run up to the Copenhagen Conference of the Parties of the United Nations Framework Convention on Climate Change Kyoto Protocol in late 2009, all the NGOs were pushing for energy to be concentrated on its outcome, but nobody who joined in the vigils, the pilgrimages or the marches had any chance to make a real input. With climate change, the relationships that count are between the governments and the energy industry. 

Look, I’ve done my share of climate change actions. Given half a chance, most of the British people would vote for climate – a decent, hardworking, sunshine-and-rain and rather moderate climate – and none of this extremist storms, floods and droughts scenario we’ve been suffering recently. 

Keywords: [“climate”,”change”,”energy”]
Source: http://www.joabbess.com/2014/05/30/who-likes-beer

Captain Capitalism

Not a threat necessarily, but a delusional man who would hunt down security guards on campus and use them as free late night therapists. Despite his dishonest intentions, most guards didn’t mind his company in that it gave us something to do, especially during summer evenings when the campus itself was abandoned and absolutely no action was going on. They and their administrative bloat staff need physical college campuses to continue on otherwise they would have to get real jobs in the real world. Reserve Assistant Vice Adjutant Deputy Diversity Officers would have to sling coffee instead of receive their welfare in the form of make-work-unnecessary-government jobs. I will delve into why colleges need to be eliminated in a later article. 

For now I want to use the obsolescence of American colleges to highlight a hypocrisy which should make even the most leftist leftists call into question their integrity, veracity, and practicality. I’m no environmentalist, but there are roughly 21 million college students in the US today. Some of these college campuses have over 50,000 students and are veritable large cities. Professors, college administrators, and students are FULLY aware it would be cheaper and much better for the environment to replace physical colleges with digital ones. They know that one GOOD professor can teach millions of students for pennies on the dollar online compared to the thousands of professors and the tens of thousands of college admin staff that is needed to run these now-pointless, unnecessary physical institutions. 

If online colleges were ever to establish a beachhead, they would be forced to do what use real world, real adult, hard working Americans do every day – work a real job. If only there were accredited online colleges that offered worthwhile degrees for a fraction of the cost and greenhouse gas emissions…. Oh wait. 

Keywords: [“college”,”physical”,”student”]
Source: http://captaincapitalism.blogspot.com

Other Rackets

The case can be made to nearly entirely eliminate the life insurance industry. In a telling beginning to the industry and a comment on insurance in general, the company refused to pay the widow and children of Gybbons and insisted that a year consisted of twelve months of four weeks each, making Gybbons’s unfortunate death a few days outside of the policy period. There are arguments that the change was necessary if the industry was going to survive, but instead of creating a safety net for the masses, life insurance became a tremendous scam. In the 1994 Consumer Reports Life Insurance Handbook, the state of the life insurance industry was summarized. The life insurance industry was able to get away with it, with many greased government palms along the way. 

The life insurance industry largely does not deserve to exist, except the rationale of capitalism and making people rich off of the idea. Life insurance is also the only industry I know of where somebody succeeded in fighting its corruption and impacting their racket: enter A. L. Williams. His father died when he was young, and the life insurance proceeds did support the family long, and Williams eventually took on the industry, selling term insurance with part-time agents selling from their homes. 

The life insurance industry banded together and fought his company in a number of states. An odd thing about the issue is this: let’s say that the life insurance industry was dealt a crushing blow by an epidemic disease or a meteor hitting New York City. The taxpayers are in effect insuring the life insurance industry anyway. For years, I was skeptical that the food industry would turn into a monopolistic/oligopolistic industry, as energy, medicine and other large industries had, because there were so many small farms and growing food is the world’s most widespread industry. 

Keywords: [“industry”,”insurance”,”life”]
Source: http://ahealedplanet.net/other.htm

J.R.’s Zaphne Blog News for 05-06-2018

Capitalism Is Good and Good for You

Fr. Sirico: Faith and free markets work well together. Similarly tedious but necessary is the duty of defenders of free-market capitalism to point out to friends on the left that, no, we do not believe in the Gospel of Gordon Gekko, either. The case for a free economy must be made, as Arthur Brooks has recently written in National Review. Father Sirico’s defense is partly autobiographical. 

From that moment, Sirico continued to think about what kind of society he really did want and what part free markets played in it. As Sirico returned to his childhood Catholic faith, he realized a definite compatibility between the vision of humans assumed by free-market economics and the vision he had been taught in the catechesis of his youth. Made in God’s image, man is a free being who is creative and in mutually dependent relationships with others. Unlike the leftists he was leaving, Sirico realized that justice was indeed important – but so were mercy and charity. The first is that in contrast to Catholics on the left who imply that Democratic budgets are the natural outgrowth of the Nicene Creed, Sirico is not claiming a dogmatic status for any particular belief about free markets; he is only noting congruities between faith and free-market reasoning. 

Capitalism may be the system that produces the most material wealth. What makes Sirico’s defense of a free economy all the stronger is his consistent acknowledgment that a functioning free market neither immanentizes the eschaton, making heaven on earth, nor makes a society virtuous or whole. Homo economicus may be a useful abstraction for certain economics problems, but the human capital of love, loyalty, and sacrifice is the kind of capital required for a successful capitalism. 

Keywords: [“Sirico”,”free”,”Market”]
Source: https://www.nationalreview.com/2012/06/capitalism-good-and-good…

Hope Springs Eternal: Conscious Capitalism In The Cannabis Industry

Unlike any other industry, entrepreneurs in the field of cannabis have had to overcome legal barriers and social stigma in order to pave the road toward a healthier, more sustainable, prosperous future. As we discussed during our interview with Quddus last month, social responsibility is a driving force for many cannabis entrepreneurs who often risk a lot to enter a controversial industry with the eternal hope that, some day, the barriers will be gone. Nowhere is that more evident than in the hemp industry. Now that more states are embracing hemp regulation, hemp is offering new hope for farmers to capitalize on its potential for lucrative returns. It’s providing doctors and scientists with opportunity to transform the field of medicine and save lives with new cures where conventional pharmaceuticals have failed. 

It’s also providing a new generation of innovators with opportunity create sustainable industry by replacing dangerous pharmaceuticals with natural therapies and toxic petrochemicals with a cost-effective, carbon neutral raw material. Not only can hemp drastically reduce our dependence on fossil fuels, it also has remedial applications for restoring carbon, remediating toxic waste and protecting our precious forests, water tables and natural resources. When asked why they risked their own careers, financial security and personal freedom to enter the field of cannabis, chances are most of the industry’s entrepreneurs will say it’s because they believe in its potential to make the world a better place. Most will tell you that it’s the most gratifying career shift they have ever taken. Both are conscious capitalists who entered the realm of cannabis to improve lives and make a difference. 

Keywords: [“hemp”,”industry”,”cannabis”]
Source: https://www.thecannabisreporter.com/hope-springs-eternal-conscious…

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Keywords: [“Download”,”pdf”,”enter”]
Source: http://www.kenyajobsfinder.com/compassionate-capitalism-people-helping…

J.R.’s Zaphne Blog News for 04-19-2018

COMING SOON – Leafwind the Compassionate Capitalist

Facing job cuts, IT needs capitalism in mind, socialism in heart: Narayana Murthy

For more than 20 years, the industry has generated enormous profits and created more than 40 million white-collar jobs. The future could be very different and NR Narayana Murthy, the father of Indian IT industry and founder of Infosys, has a prescription for the industry in these tough times. At the same time, I also realised that capitalism will only succeed if the leaders of capitalism demonstrate self-restraint in allocating a disproportionate part of wealth generated to themselves. I also realized that in a poor country like India if capitalism has to become acceptable and has to be embraced by a large section of our society, then the leaders of capitalism have to eschew vulgar display of wealth. In the interest of enhancing confidence in capitalism, we, the leaders of capitalism, must embrace compassionate capitalism. 

That is capitalism in the mind and socialism at heart – or, capitalism based on fairness, transparency and accountability. In every decision we, the leaders of capitalism, take, we have to ask whether our decision will enhance the respect for us in the eyes of our younger employees and whether respect for our corporations will be enhanced in the eyes of the society. If we follow these principles, I believe, we will be in a position to save capitalism from premature death in India and bring the benefit of capitalism to the vast majority of Indians. The challenge for our industry leaders is to create new markets and create new opportunities and jobs in the scenario of changing technologies. The market for the IT industry may shrink and that is beyond anybody. 

It is very important for leaders of capitalism to be fair to their younger colleagues when the issue of retrenchment comes. All of us have to practice capitalism in mind and socialism in heart. 

Keywords: [“capitalism”,”industry”,”employee”]
Source: https://www.moneycontrol.com/news/business/companies/facing-job-cuts-it-needs-capitalism-in-mind-socialism-in-heart-narayana-murthy-2294675.html

Compassionate capitalism: Why Murthy is right in opposing Infy CEO Vishal Sikka’s pay hike

New Delhi: N R Narayana Murthy and his wife Sudha are known to be frugal, despite being a billionaire couple. A news report mentions today that amid the raging controversy over the company Murthy co-founded – Infosys – he treated Infosys’ Chairman R Seshsayee to simple breakfast of idli and dosa at his modest Bengaluru residence yesterday morning. No fancy multi-course meal for the Murthys and none obviously for their guests. When last week Murthy raised the issue of the Infosys CEO’s obscene salary, triggering the present crisis, one was forced to sit up and take notice. For the last few days, newspaper reports have spoken of Murthy’s displeasure with the proposal to further increase Infosys CEO Vishal Sikka’s remuneration. 

Founders together own about 13 percent in Infosys and have been a collective weighty voice on important matters. Murthy has also voiced concerns over a large severance package devised for the ex-CFO. On the former, Chairman R Seshasayee said last evening everything was in order. There are no major corporate governance issues at Infosys but the company and its management should look at perception issues which have cropped up after Murthy pointed out the obvious. No one is saying that Sikka’s pay packet violates any law, neither has it been kept a secret. 

The remuneration Sikka received in FY16 was duly approved by Infosys’ board of directors and has been duly disclosed in the company’s annual report. The issue is really this: the obscene amount of money Sikka earns to run Infosys may perhaps be justified by the salary math the world’s top corporate honchos apply to their own packages but makes little sense when put in perspective. This piece shows Sikka took home a salary which was 935 times the median pay at Infosys last fiscal. 

Keywords: [“Infosys”,”Murthy”,”Sikka”]
Source: https://www.firstpost.com/business/compassionate-capitalism-why-murthy-is-right-in-opposing-infy-ceo-vishal-sikkas-pay-hike-3282544.html

Constructive capitalism

In July of 2015 Dr. Bronner’s became a Benefit Corporation with the State of California. A Benefit Corporation is a for-profit corporation that has positive impact on society and the environment according to legally defined goals. A Benefit Corporation can also identify specific public benefits as additional purposes. Expand public awareness of environmental and social issues. 

Make products and source ingredients that are fair trade certified and USDA certified organic whenever possible. Promote equitable compensation: pay executives no more than five times the total compensation paid to fully-vested, lowest paid employees. Bronner’s growth and our pursuit of public benefit are advanced by our environmental and social activism. To that end, our owners and officers cannot be sued for pursuing such activism. We’re also a certified B Corp™Certified B Corps™ are for-profit companies certified by the nonprofit B Lab to meet rigorous standards of social and environmental performance, accountability, and transparency. 

B Corp™ Certification provides a useful third-party measurement tool to meet our performance assessment and transparency requirements as a Benefit Corporation. The B Impact Assessment model used by B Lab gives us an objective standard to track our improvements over time. As a Certified B Corp™ we are now in a more formal alliance with other companies who are committed to modeling ethical and progressive approaches to business. 

Keywords: [“Benefit”,”Corporation”,”certified”]
Source: https://www.drbronner.com/about/ourselves/constructive-capitalism/

J.R.’s Zaphne Blog News for 02-01-2018

Definition of Capitalism by Merriam-Webster

Communism is one of our top all-time lookups, and user comments suggest that’s because it is often used in opaque ways. In some sources, communism is equated with socialism; in others, it is contrasted with democracy and capitalism. Part of this confusion stems from the fact that the word communism has been applied to varying political systems over time. When it was first used in English prose, communism referred to an economic and political theory that advocated the abolition of private property and the common sharing of all resources among a group of people, and it was often used interchangeably with the word socialism by 19th-century writers. The differences between communism and socialism are still debated, but generally English speakers used communism to refer to the political and economic ideologies that find their origin in Karl Marx’s theory of revolutionary socialism, which advocates a proletariat overthrow of capitalist structures within a society, societal and communal ownership and governance of the means of production, and the eventual establishment of a classless society. The most well-known expression of Marx’s theories is the 20th-century Bolshevism of the U.S.S.R., in which the state, through a single authoritarian party, controls a society’s economy and social activities with the goal of realizing Marx’s theories. Communism is often contrasted with capitalism and democracy, though these can be false equivalencies depending on the usage. Capitalism refers to an economic theory in which a society’s means of production are held by private individuals or organizations, not the government, and where prices, distribution of goods, and products are determined by a free market. It can be contrasted with the economic theories of communism, though the word communism is used of both political and economic theories. Democracy refers to a system of government in which supreme power is vested in the people and exercised through a system of direct or indirect representation which is decided through periodic free elections. Democracy is contrasted with communism primarily because the 20th-century communism of the U.S.S.R. was characterized by an authoritarian government, whereas the democracy of the 20th-century U.S. was characterized by a representative government.

Keywords: [“Communism”,”theory”,”democracy”]
Source: https://www.merriam-webster.com/dictionary/capitalism

South Africa: ‘Compassionate Capitalism’ Wanted

Johannesburg – THE caring face of the mining industry is to be showcased in a new annual SA-based conference, the first of which will take place over two days in Cape Town in September. The Global Mining Conference is to be organised by the South African Mining Development Association, which mainly represents the interests of junior miners, and it will be a way for the association both to boost its own profile and to lead a discussion on transformation in the global mining industry. “The conference will be different from the existing Mining Indaba, as it will not be about business as usual,” said Radebe. “It will be about seeking to transform global mining culture.”It will look at compassionate capitalism – and at recently introduced laws in SA that will encourage any investor to build a sustainable economy. She said the world had moved on from the times when mining companies would invest in new mines, dig out the minerals and then disappear, “leaving behind ghost towns. One theme of the conference would be the participation of local communities in sharing the spoils of mining ventures. The conference will also look at taxation, venture capital and issues related to access to funding, as well as topics such as education and skills, corporate governance, and health and safety. “It will be global in character, and the aim is to ensure that everyone there will take home something useful.”On the education challenge, we have expertise sitting in the mining industry that is not being used by academia. “Meanwhile, we also have unused mining rights that have become available under the mining charter, and want to showcase these to the junior mining industry. We will look at the potential for them to partner players, to turn unused assets into productive assets.” Radebe said the conference was expected to attract mining executives, bankers, analysts, as well as those involved in beneficiation and in procurement. The executive director of the World Bank, Paolo Gomez, is expected along with a number of leading players in the industry – as well as some of its critics from nongovernmental organisations and agencies such as the Industrial Development Corporation that are potential funders for mining projects. Radebe promised fewer speeches and more discussions, including the thorny topic of running mining operations in conflict zones.

Keywords: [“mines”,”conference”,”industry”]
Source: http://allafrica.com/stories/200506240130.html

Two-faced capitalism

Admittedly, even fewer, just 5%, named CSR in its own right as the single most important criterion; but one might add to this the additional 24% who said that the reputation and integrity of the brand, to which good corporate citizenship presumably contributes, matter most. From an ethical point of view, the problem with conscientious CSR is obvious: it is philanthropy at other people’s expense. Advocates of CSR typically respond that this misses the point: corporate virtue is good for profits. The trouble is, CSR that pays dividends, so to speak, is unlikely to impress the people whose complaints first put CSR on the board’s agenda. Profit-maximising CSR does not silence the critics, which was the initial aim; CSR that is not profit-maximising might silence the critics but is unethical. Unlike some advocates of CSR, Mr Benioff says he opposes government mandates to undertake such activities. In any case, if Mr Benioff is right, and CSR done wisely helps businesses succeed, compulsion should not be needed. Lack of compulsion is exactly what is wrong with current approaches to CSR, say many of the NGOs that first put firms on the spot for their supposedly unethical practices. This week Christian Aid, with Davos in mind, published a report claiming to reveal the true face of CSR†. The charity is “Calling on politicians to take responsibility for the ethical operation of companies rather than surrendering it to those from business peddling fine words and lofty sentiments.” It regards CSR as a “Burgeoning industry…now seen as a vital tool in promoting and improving the public image of some of the world’s largest companies and corporations.” The report features case studies of Shell, British American Tobacco and Coca-Cola-all of them, it says, noted for paying lip-service to CSR while “Making things worse for the communities in which they work.” Shell, says the report, claims to be a good neighbour, but leaves oil spills unattended to. “Instead of talking about more voluntary CSR in Davos, government…should be discussing how new laws can raise standards of corporate behaviour.” Ten years on, instead of declaring victory, as well they might, disenchanted NGOs like Christian Aid are coming to regard CSR as the greater sham, and are calling on governments to resume their duties.

Keywords: [“CSR”,”corporate”,”firm”]
Source: http://www.economist.com/node/2369912

J.R.’s Zaphne Blog News for 01-30-2018

Compassionate Capitalism and Credit Unions – Courtney Campbell on TJBS

The compassionate capitalist

In 2002, David Bonderman, founder of Texas Pacific, one of America’s leading private-equity firms, marked his 60th birthday with the “Most expensive bash in Las Vegas history”, treating 300 guests to performances by Robin Williams and the Rolling Stones. Last month, Apax Partners, a leading European private-equity firm, hired the National Gallery in London for a classier do to mark the 60th birthday on August 1st of Sir Ronald Cohen, and the “Moving on” of a man who co-founded the firm in 1972. Some 200 guests were wined, dined and entertained among the Old Masters by the great pianist Alfred Brendel, long a friend of Sir Ronald’s. Sir Ronald is altogether more sophisticated and urbane. On both sides of the Atlantic, private-equity firms manage funds that buy big controlling stakes in firms, sometimes taking public firms private. Private-equity firms have mostly struggled with succession, says Josh Lerner of Harvard Business School. In the late 1990s, he and Apax’s other partners started to discuss how the baton could be handed on to the next generation of leaders in a timely, efficient way that let the departing partners take money out without seriously weakening the firm. A new strategy requiring generalists in Apax’s leveraged transactions group to specialise in a particular industry has not been greeted with universal enthusiasm within the firm. Sir Ronald is now expected to devote his energy to two causes long close to his heart. Sir Ronald believes that economic growth for the Palestinians is crucial if there is to be lasting peace with Israel. In 2000 Mr Brown put Sir Ronald in charge of a “Social Investment Taskforce” that made various proposals to foster private investment in economically-deprived parts of Britain. In April, Sir Ronald hosted a brainstorming session for financial experts at Oxford’s Said Business School to discuss his dream of creating a “Diverse and productive social investment marketplace”-put simply, to ensure that capital is far more efficiently generated and allocated to non-profit businesses and “Social entrepreneurs” with innovative ideas.

Keywords: [“Ronald”,”firm”,”Sir”]
Source: http://www.economist.com/node/4246751

Facing job cuts, IT needs capitalism in mind, socialism in heart: Narayana Murthy

The future could be very different and NR Narayana Murthy, the father of Indian IT industry and founder of Infosys, has a prescription for the industry in these tough times. “I don”t want to go into what is happening in specific companies, but if your philosophy of compassionate capitalism is clear and if you operate on that philosophy, then it becomes simple to lessen the pain of middle and lower-level employees. At the same time, I also realised that capitalism will only succeed if the leaders of capitalism demonstrate self-restraint in allocating a disproportionate part of wealth generated to themselves. I also realized that in a poor country like India if capitalism has to become acceptable and has to be embraced by a large section of our society, then the leaders of capitalism have to eschew vulgar display of wealth. In the interest of enhancing confidence in capitalism, we, the leaders of capitalism, must embrace compassionate capitalism. That is capitalism in the mind and socialism at heart – or, capitalism based on fairness, transparency and accountability. In every decision we, the leaders of capitalism, take, we have to ask whether our decision will enhance the respect for us in the eyes of our younger employees and whether respect for our corporations will be enhanced in the eyes of the society. If we follow these principles, I believe, we will be in a position to save capitalism from premature death in India and bring the benefit of capitalism to the vast majority of Indians. A lot of observers and industry observers claim that the industry has collected a lot of “Flab” over the years as companies benefitted by simply adding people in time and material projects, where clients paid on the number of hours clocked by the employee. The challenge for our industry leaders is to create new markets and create new opportunities and jobs in the scenario of changing technologies. It is very important for leaders of capitalism to be fair to their younger colleagues when the issue of retrenchment comes. All of us have to practice capitalism in mind and socialism in heart.

Keywords: [“capitalism”,”industry”,”employee”]
Source: http://www.moneycontrol.com/news/business/companies/facing-job-cuts-it-needs-capitalism-in-mind-socialism-in-heart-narayana-murthy-2294675.html

Indians are price sensitive and so are some of its founders, like Narayana Murthy, Chairman Emeritus of Infosys, who is calling for a value-based compensation system for senior management. In keeping with his stand, Murthy absented himself from a board meeting where a resolution was passed to increase the salary of Chief Operating Officer UB Pravin Rao. The dust from the battle between Infosys founders and the board – over the compensation paid to Rajiv Bansal, former Infosys CFO, on his exit from the company – had barely settled when Murthy spoke up against Rao’s 35 percent pay hike of Rs 12.5 crore. This is going to have far-reaching consequences on the company’s brand capital. Either way, Infosys and its employees are sure to be looking at this drama very closely. He has praised Pravin Rao for being an Infosys loyalist but questioned his acceptance of such a high salary. He says as a founder, in Infosys’ early days, he let the juniors take more to add credibility. “I have always felt that every senior management person of an Indian corporation has to show self-restraint in his or her compensation and perquisites. He or she has to fight for maintaining a reasonable ratio between the lowest salary and the highest salary in a corporation in a poor country like India. The board has to create a climate of opinion for such a fairness by their actions.” The chairman emeritus also called for compassionate capitalism. “The board has to create a climate of opinion for such a fairness by their actions. This is necessary if we have to make compassionate capitalism acceptable to a majority of Indians who are poor. Without compassionate capitalism, this country cannot create jobs and solve the problem of poverty.” With damage at every level, Infosys has had an inauspicious start to the year, and maybe there are yet more skeletons to come out of the closet. That said, the stock markets would want the company to sort out its governance issues and focus on what’s truly important – growing the business.

Keywords: [“Infosys”,”salary”,”board”]
Source: https://yourstory.com/2017/04/infosys-compassionate-capitalism/