Merryn Somerset Webb — What Adam Smith Got Right (and Wrong) скачать в хорошем качестве

Merryn Somerset Webb — What Adam Smith Got Right (and Wrong)

Merryn Somerset Webb traces how the limited liability company democratised investment and underpinned economic liberty, then shows how corporate control has shifted from dispersed owners to a handful of “money‑manager” giants (notably BlackRock, Vanguard, State Street). With passive funds’ voting power concentrated across thousands of firms, she argues, stewardship has morphed from profit‑focused oversight into an expansive socio‑political agenda via ESG—an umbrella so fuzzy it can justify mutually contradictory mandates (e.g., shunning defence and fossil fuels, then calling them “social goods”). The result: private rule‑making by unelected asset managers, undermining shareholder democracy and misallocating capital. Webb sees signs of a correction—political, technological, and investor‑led—toward returning proxy votes and influence to underlying savers, reviving accountability and capitalism’s legitimacy. Merryn Somerset Webb is a Senior Columnist at Bloomberg Opinion and host of the Merryn Talks Money podcast; she was previously editor‑in‑chief of MoneyWeek. Key Topics 00:00 Limited liability as a world‑changing innovation; Adam Smith’s worries 03:23 From managerial to “money‑manager” capitalism; the Big Three’s clout 07:45 ESG’s rise and the “do good and do well” promise questioned 11:10 Defence, energy, and rare earths—ESG contradictions in practice 14:11 Re‑empowering savers: restoring votes, reviving shareholder democracy The published anthology https://bokforlagetstolpe.com/bocker/... The essay https://engelsbergideas.com/essays/in... This seminar took place in June 2022 Engelsberg Ironworks, Sweden. For more visit: Axess Television: https://axesstelevision.com /    / @axesstv1   About: Axess Axess Television is a premium Swedish channel dedicated to critical ideas, culture, science and meaningful dialogue. Explore documentaries, interviews and seminars that challenge, inspire and inform. Engelsberg Ideas: https://engelsbergideas.com /    / @engelsbergideas   About: Engelsberg Ideas is home to great writing from leading thinkers on history, culture and geopolitics, featuring essays, notebooks, reviews, and historical portraits as well as regular podcasts. Stolpe Publishing: https://bokforlagetstolpe.com /    / @bokforlagetstolpe2865   About: Bokförlaget Stolpe publishes high-quality non-fiction books in the fields of humanities and social sciences. We prioritize content, design, reproduction, printing, and binding. Axess Magasin: https://www.axess.se About: Axess Magazine is a journal that offers current Swedish and international debate on ideas in the social sciences and humanities. Each issue also contains an extensive section with reviews of the latest international non-fiction literature. The Axel and Margaret Ax:son Johnson Foundation https://axsonjohnsonfoundation.org The Axel and Margaret Ax:son Johnson Foundation for Public Benefit is a private foundation with the primary purpose of promoting scientific and scholarly research. Its focus today is on the humanities and social sciences.