On January 14, as Brad Chacos so perfectly put it for PC World, “a Washington appeals court ruled that the FCC’s net neutrality rules are invalid in an 81-page document that included talk about cat videos on YouTube.” Reactions have been varied. Joe Carter recently surveyed various arguments in his latest explainer. For my part, I recommend the German, ordoliberal economist Walter Eucken as a guide for evaluating net neutrality, which as Joe Carter put it, “[a]t its simplest … is the idea that all Internet traffic should be treated equally and that every website … should all be treated the same when it comes to giving users the bandwidth to reach the internet-connected services they prefer.” (more…)
I recently asked the question at Ethika Politika, “Which Capitalism?” (also the title of my article), and I followed it up with a related question here regarding the relationship between distributism and capitalism (is the former a form of the latter?). In addition, Jordan Ballor reflected last week on the different orientation of definitions of capitalism and socialism, observing, “One definition [i.e. capitalism] is focused on structure, the other [i.e. socialism] is connected with moral ideals.”
Google Chairman Eric Schmidt defended the company’s practices [of taking certain tax exemptions], saying:
We pay lots of taxes; we pay them in the legally prescribed ways…. I am very proud of the structure that we set up. We did it based on the incentives that the governments offered us to operate.
So far so good. He didn’t make the rules that privilege his firm, but he will avail himself of these privileges when offered. I can sympathize. I oppose the mortgage interest deduction but still take it every April. Schmidt’s next statement, however, is about as far from the mark as one can get:
It’s called capitalism…. We are proudly capitalistic. I’m not confused about this.
A quick lesson for Mr. Schmidt: genuine capitalism is about competing on a level playing field for customer dollars. If you offer a superior product or service, customers will reward you by voluntarily parting with their money in exchange for what you offer. (more…)
The Acton Institute has released a mobile app for smart phones and tablets based on the Android operating system. The free app keeps users up to date with the latest PowerBlog posts, commentaries, events and other goings on at the institute. Point your desktop/laptop computer or smart phone to the Android Market.
In the pipeline — the Acton iPhone app for Apple mobile devices. Stay tuned!
You may have noticed a new addition to the PowerBlog; the new +1 button joins the existing Facebook and Twitter buttons at the top of posts. +1 is a new initiative from Google that brings forth more relevant search results influenced by user feedback. Here is a snippet from the official Google launch:
+1 is as simple on the rest of the web as it is on Google search. With a single click you can recommend that raincoat, news article or favorite sci-fi movie to friends, contacts and the rest of the world. The next time your connections search, they could see your +1’s directly in their search results, helping them find your recommendations when they’re most useful.
Since we now use the +1 button you can recommend any blog post you wish using the new feature. It will be integrated across all Acton sites over time, but for now make sure you cast your vote on high quality PowerBlog posts!
What do you look for when you are searching for a job? A growth industry? A healthy bottom-line? A positive corporate culture? Some combination of the above?
Fortune magazine recently rated the “Top 100 Places to Work.” Not surprisingly, at the top of the list is Google, which not only is dubbed the “millionaire factory” because of its generous stock option packages and a matching top tier share price, but because of the innovation associated with its workplace. Employees are encouraged to spend a good chunk of their time focusing on their own “pet” projects.
But second on the list is a Michigan-based company, Quicken Loans. What makes Quicken a great place to work? “Ethically driven” is what one employee calls the online mortgage lender: “It avoided the subprime crisis by sticking with plain-vanilla loans.” You don’t need to be a “social entrepreneur” in the latest sense of the term to be “ethically driven.”
So what connection is there between the top two companies on Fortune‘s list? Google’s well-known motto is: “Don’t be evil.” You might call that the “silver rule” of business ethics. (The “golden rule” would be a positive statement like, “Do be good.”)
To the extent that Google and Quicken embody a way of doing business that emphasizes both profits and ethics, we can see how in the long run ethical business makes the most economic sense.
Also check out Christianity Today‘s annual feature, “Best Christian Places to Work.”
No doubt feeding the fears of those who believe that global corporations pose the greatest threat to the future flourishing of humanity, such multi-nationals are beginning to hire their own economists, much like governments have their own financial and economic experts.
See, for instance, this interview on the WSJ Economics Blog with UC-Berkeley economist Hal Varian, who has taken a position as chief economist with Google, Inc.
Where will Varian be focusing his attention? In his words, “I think marketing is the new finance.”
Via Slashdot, news comes today that Google’s next shareholders meeting will feature a vote on a shareholder resolution to protect free speech and combat censorship by intrusive governments.
According to the proxy statement, Proposal Number 5 would require the recognition of “minimum standards,” including, that “the company will use all legal means to resist demands for censorship. The company will only comply with such demands if required to do so through legally binding procedures,” and that “the company will not engage in pro-active censorship.”
Part of the basis cited for the proposal is the United Nations Universal Declaration of Human Rights, which declares that the “advent of a world in which human beings shall enjoy freedom of speech and belief and freedom from fear and want has been proclaimed as the highest aspiration of the common people.”
One of the specific provisions of the declaration related to freedom of speech is Article 19: “Everyone has the right to freedom of opinion and expression; this right includes freedom to hold opinions without interference and to seek, receive and impart information and ideas through any media and regardless of frontiers.”
I’m curious to see how this resolution fares and how the directors, especially considering that Google co-founder Sergey Brin has said that the company’s cooperation with China “a net negative.” External considerations might also be at play, given the potential for legislation like the Global Online Freedom Act of 2007 to regulate the activities of companies like Google.
Google recently announced that it has purchased the Trendalyzer software from Gapminder, a Swedish non-profit (HT: Slashdot). Trendalyzer is the brain-child of professor Hans Rosling, who was lecturing on international development “when it struck him that statistics were an underexploited resource, often presented in an incomprehensible fashion. To solve the problem he developed – along with his son – a new kind of software.”
One interesting aspect of this purchase is that the software’s inventor won’t profit from its sale, since it was run under the auspices of a non-profit and was financed by public money. “It’s not an operating business that was sold, just the software and a web site. Although I would gladly accept that kind of money,” said Rosling.
To see the software in action, see the video of a lecture given by Rosling in February of 2006. Don’t just pay attention to the software, however. Rosling has some pretty important observations about how the West views the “developing” world.
This from the official Google blog: “We’ve always recognized the importance of copyright, because we believe that authors and publishers deserve to be rewarded for their creative endeavors. And we specifically designed Google Book Search to respect copyright law – never showing more than two or three snippets around a search term without the publisher’s prior permission, which they can give through our Partner Program.”