Business

A Reflection on Economic Monism

A Reflection on Economic Monism

Swiftly approaching the end of my economics degree, I find myself -much like many of my more critical colleagues- questioning what it is that this great university institution has made of us. For we are now technically ‘economists’, even If we are a little wet behind the ears. It is said that we have entered an elite group of individuals, capable of wielding a unique economic insight; understanding the fundamental human condition through the lens of economics. It is exactly that last sentence where the issue lies. In this short reflection I shall make the case that rather than being agents capable of doing economic analysis, interpreting the basic economic question and applying critical economic thinking to problems we may be faced with, the modern-day economics course is one which gives its students hammers, to whom all economic issues swiftly become nails. In doing so I shall employ Kuhns paradigm shift.

-Omer Selcuk

Can Corporate Social Responsibility Save Capitalism ?

 Can Corporate Social Responsibility Save Capitalism ?

By adapting the 2nd law of thermodynamics to our economic system MUSE seems to warn us about how in a society led by consumerism, mankind seems to have started a race which could end  with its annihilation. With all that we have learned about the impact of global warming on our environment it would be wrong to dismiss this out of hand. To avoid such a result, disparate voices have offered a variety of alternate methods.  Whereas some promote a society free of capitalist thoughts, such as the degrowth movement, others still think the very DNA of capitalism could be transformed to embrace environmentalism. This branch of thought has led to the rise of Corporate Social Responsibility (CSR).