New Enlightenment

Tina Fordham, a leading independent strategist and advisor and founder of Fordham Global Insight, discusses the changing landscape of geopolitics and its impact on the global economy. She highlights the need for a holistic approach to understanding geopolitical risks and challenges the effectiveness of AI and machine learning in predicting human behaviour. Fordham also shares her insights on the upcoming US elections and emphasises the importance of considering historical context and avoiding projection when analysing political events. The conversation explores the upcoming US election and its implications for the post-World War II liberal order, the Democratic National Convention, and the future of the transatlantic relationship. It also touches on the unpredictability of the election outcome, and the impact of geopolitical tensions. The conversation concludes with a discussion on the potential consequences if Iran acts militarily against Israel. Takeaways Geopolitical analysis requires a holistic approach that combines data analysis with historical context and an understanding of human behaviour. AI and machine learning have limitations in predicting geopolitical risks due to the complexity of human behaviour. The global economy has experienced significant changes in the past 15 years, and the idea of returning to a 'normal' state is unrealistic. Perceptions of geopolitical events often lag behind the reality, and there is a need for better education on recent history and current global trends. The upcoming US elections are unpredictable, and it is important to consider multiple factors and avoid projecting personal biases. The US election will have significant implications for the post-World War II liberal order and the future of the transatlantic relationship. The Democratic National Convention is focused on party cohesion and introducing Kamala Harris as Joe Biden's running mate. The outcome of the election remains uncertain, and there may be more surprises to come. Geopolitical tensions, such as those in the Middle East, could impact the election and global stability. Iran's actions in the Middle East could have fundamental destabilising effects. Adam Smith's Panmure House Adam Dixon Fordham Global Tina Fordham

In this episode, we sit down with influential Oxford University management scholar Colin Mayer to discuss the purpose business and his new book 'Capitalism and Crises'. The discussion explores the need to rethink the purpose of corporations. The current focus on profit is flawed. Mayer proposes that the purpose of business should be to produce profitable solutions for the problems of people and the planet, without profiting from creating harm. He acknowledges the benefits of capitalism but also recognises the increasing threats and crises it is causing. Mayer suggests that by aligning business goals with solving societal and environmental problems, we can achieve greater growth and prosperity while avoiding the problems we currently face. Takeaways The purpose of business should be to produce profitable solutions for the problems of people and the planet. Businesses should not profit from creating problems for others. Capitalism has brought immense prosperity but is also causing increasing threats and crises. Aligning business goals with solving societal and environmental problems can lead to greater growth and prosperity while avoiding current problems. Embedding the purpose of companies in their intrinsic formulation is crucial. Litigation would focus on the governance and values of companies, not specific harms. The concept of corporate purpose can be diffused across different political economies. Technology will play a significant role in holding businesses accountable. Adam Smith's Panmure House: Website Adam Dixon: On X  Colin Mayer Capitalism and Crises

Ilias Alami, an Assistant Professor at Cambridge University and co-author of 'The Spectre of State Capitalism', dives into the nuances of state capitalism. He discusses how the state's role in the economy has shifted due to structural changes in global capitalism, challenging common misconceptions. The conversation highlights the fusion of state and private capital and the implications for global economic dynamics. Alami emphasizes the need for a global perspective to understand these transformations, especially in light of recent geopolitical events.

In this episode, we welcome Dan Klein to discuss the rise and implications of hate speech and hate crimes laws. The discussion touches on hate as a philosophical concept, delving into Adam Smith's perspective on hate and the asymmetry of social and unsocial passions. We discuss the universal nature of hate and the cultural and societal factors that influence its expression. The conversation raises questions about the politics behind hate crime and hate speech legislation. Klein questions the need for enhanced penalties for certain motivations, arguing that it creates inequality between different types of wrongdoings. We also discuss the idea that character traits should not be punished by the law and express concerns about the potential abuse of power and censorship. The conversation closes with a discussion of the importance of viewpoint diversity and fostering open dialogue. Takeaways Hate speech and hate crime legislation is on the rise, with a distinction between criminalising certain forms of speech and enhancing penalties for crimes motivated by perceived bias. Adam Smith emphasised the asymmetry of social and unsocial passions, urging individuals to tamp down unsocial passions and be cautious in expressing them. The cultivation of proper sentiments, including the management of hate, is a cultural and societal process that requires good examples, exemplars, and a bottom-up approach. Hate crime legislation raises concerns about defining hate and its potential manipulation for political and cultural agendas, highlighting the need for careful consideration and balance in addressing hate. Enhanced penalties for certain motivations in hate crimes can create inequality between different types of wrongdoings. Punishing character traits through the law is dangerous and goes against the principles of classical liberalism. There is a concern about the abuse of power and the potential for censorship in the enforcement of hate crimes and hate speech laws. Adam Smith's Panmure House Adam Dixon Dan Klein - Mercatus Center Dan Klein - George Mason University Adam Smith Program

In this episode, we sit down with Jan Bebbington, Professor of Sustainability in Business, to discuss the evolving landscape of social and environmental accounting. We explore sustainability accounting in helping organisations contribute to achieving the Sustainable Development Goals (SDGs). She emphasises the need for organisations to navigate the complexities of achieving multiple SDGs simultaneously and the importance of collaboration and partnership. Bebbington acknowledges the challenges of transitioning to a sustainable economy and the need for innovative solutions and collective action. The conversation explores the challenges of integrating sustainability into financial and operational practices. It discusses the misconception that organisations need to maximise profits and highlights the importance of nuanced business purposes. The conversation also delves into the complexities of decision-making in a non-linear ecological context and the need for traceability in supply chains. It explores the emergence of import bans on materials associated with deforestation and the implications for businesses. The future of sustainability accounting is discussed, including the mainstreaming of environmental and social reporting and the challenges of audit and assurance. The conversation concludes with a focus on the changing domains of responsibility and the need for businesses to align with the spirit of sustainability regulations. Takeaways Sustainability accounting involves using accounting technologies to create organisational control and accountability for sustainable development. The Sustainable Development Goals (SDGs) provide a framework for organisations to contribute to sustainable development. Achieving the SDGs requires navigating the complexities of multiple goals and collaborating with various stakeholders. Transitioning to a sustainable economy is a complex task that requires innovation, experimentation, and collective action. Organisations do not need to maximise profits; their purposes are often more nuanced and focused on returns that support the well-being of stakeholders. Decision-making in a non-linear ecological context is complex and requires accounting for impacts and dependencies. Traceability in supply chains is crucial as organisations are increasingly held responsible for the actions of their suppliers. Import bans on materials associated with deforestation are emerging as a form of governance, creating challenges for businesses in terms of traceability and market access. The future of sustainability accounting involves mainstreaming environmental and social reporting, as well as addressing the complexities of audit and assurance. Businesses need to align with the spirit of sustainability regulations and focus on the purpose and impact of their operations. Adam Smith's Panmure House Adam Dixon Jan Bebbington Jan Bebbington at Lancaster University

In this episode, we sit down with Sarah Bauerle Danzman to explore the increasing tensions between the United States, its allies in Europe, and China in the context of investment regulations and restrictions, as well as technological supremacy. We delve into the historical context of US-China relations, the bipartisan support in the US for policies tough on China, the influence of the business and financial community, and the role of Europe in this geopolitical landscape. The conversation explores the intersection of investment regulations, economic competition, and national security concerns in the context of US-China and European relations. Takeaways US-China tensions are driven by concerns around technological supremacy, investment regulations, and national security. Bipartisan support for policies tough on China is evident, with a focus on economic security and national security. The business and financial community in the US is navigating the impact of securitised political economy, with a focus on policy certainty and lobbying for industrial policy. Europe's role in the geopolitical landscape is evolving, with a focus on economic competitiveness, security concerns, and the dynamics of the US-Europe-China relationship. Adam Smith's Panmure House Adam Dixon https://www.sarahbauerledanzman.com/ Sarah Bauerle Danzman on X Sarah Bauerle Danzman on LinkedIn

In this episode, we sit down with Indrajit Roy to discuss the past, present, and future of Indian democracy, just as the country of more than 1 billion people goes to the polls. The conversation delves into the state of Indian democracy, its historical context, and the impact of Modi's leadership. We explore the effectiveness of Indian democracy in providing a voice to its citizens and the impact on social and economic equality. We discuss the rise of Hindu nationalism and its impact on Indian society and politics, noting the departure from the principles of liberal democracy, particularly around non-discrimination of minority groups. Notwithstanding, the resistance against illiberal tendencies in India is evident through institutional, political, and social activism. This highlights the durability of Indian democracy. Takeaways Indian democracy faces challenges in providing social and economic equality, despite its effectiveness in giving a voice to historically oppressed communities. The rise of Hindu nationalism under Modi's leadership has led to a departure from the principles of liberal democracy, impacting religious minorities and creating a Hindu homogeneous group. The historical context of Indian democracy and the impact of Hindu nationalism on Indian society and politics are critical to understanding the current state of Indian democracy. Caste dynamics play a significant role in Indian politics, with upper caste groups holding disproportionate wealth and power. Modi's leadership has seen positive developments in infrastructure investment, reduction of petty corruption, and digitization of financial transactions. The resistance against illiberal tendencies in India is evident through institutional, political, and social activism, highlighting the durability of Indian democracy. Links: Adam Smith's Panmure House Adam Dixon Indrajit Roy on X Indrajit Roy in Linkedin University of York Audacious Hope: An Archive of How Democracy is being Saved in India

In this episode, we sit down with Philip Rathgeb to discuss the impact of radical right parties on social and economic policies in Europe and the USA. Rathgeb explains that the rise of the radical right is a result of the depoliticisation of the economy because of the neoliberal consensus of the last few decades. This has led to a migration of political conflict to cultural issues such as immigration and identity. The radical right, according to Rathgeb, seeks to politicise these issues and undermine liberal democratic institutions. Rathgeb introduces the concept of 'culture war capitalism' which explores the interdependence between cultural and economic policies. He provides examples of how radical right parties use family policy to implement their cultural principles and entrench gender roles. The conversation then delves into the upcoming European Parliament elections and the dispute among radical right parties from different countries in terms of foreign policy and the economy. Takeaways The rise of the radical right is a response to the depoliticisation of the economy under the neoliberal consensus. Radical right parties politicise cultural issues such as immigration and identity to undermine liberal democratic institutions. The concept of 'culture war capitalism' explores the interdependence between cultural and economic policies.    Radical right parties use family policy to implement their cultural principles and entrench gender roles. Radical right parties in Europe contest different elements of globalisation.  The upcoming European Parliament elections will see the rise of radical right parties, posing challenges in foreign policy and the economy. Mainstream parties need to understand and address the anxieties of voters to counter the rise of the radical right. Links: Adam Smith's Panmure House Adam Dixon Philip Rathgeb: LinkedIn X How the Radical Right Has Changed Capitalism and Welfare in Europe and the USA Website

Helen Thompson, a Professor of Political Economy at the University of Cambridge and co-host of the podcast These Times, delves into the geopolitical dynamics of the energy transition. She discusses how today’s energy landscape mirrors 20th-century oil economies, emphasizing state involvement's crucial role. The conversation highlights China's advantages in minerals for renewable energy and the escalating competition with the U.S. Insights into how energy policies intersect with electoral dynamics and future interdisciplinary collaborations make for a compelling listen.

In this discussion with Joseph Henrich, a Harvard professor and expert in human evolutionary biology, listeners dive into the fascinating ways culture shapes our psychology. They explore how radical interdisciplinarity can tackle complex social questions and trace the roots of individualism back to medieval Church policies. Henrich challenges the nature vs. nurture debate, highlighting cultural evolution's role in human behavior and preferences. He also previews his upcoming book on collective intelligence and its impact on innovation.