#67: The Commons Meets the Birth of Money Management with Pip and Brynne

Today we are talking about the history of the money management industry, and how values that were "baked in" in the 1980s when this industry really took off are dictating a lot of what we think is possible and right in the industry, and why the emergence of ESG and ESG related investment philosophies can seem so incongruent.

But to do this, to go through unearthing the founding values of an industry, we start in an interesting place, with a discussion about the concept of the commons, and how this thought-provoking piece of political theory applies to our struggles with ESG today. The idea of the commons starts to address all the externalities that investors say are outside of our domain. How long will we be able to draw that line? What do our industry's "founding values", implicit or explicit, have to say about these externalities? The forces all around the industry are changing, so let's take a look at it from these two angles today.