Show Notes - Week of November 11, 2019
Greetings from 53.5° north latitude, where it was well above freezing today, but of course all that means is that the puddles will freeze overnight. Still very little to show for the week now that I have worked 28 straight days without a break. The fatigue is really becoming a factor. Only a couple articles of note, and a couple beers. Hopefully there is more to report in the upcoming week.
More on Capitalism:
HBR published this article entitled "Is the Business Roundtable Statement Just Empty Rhetoric?" back in August, but it only came to my attention in the last week. I have written about capitalism a number of times on this site. This article highlights a potentially important shift in the ultimate purpose of a corporation. Shareholders have been touted as the primary concern for organizations for nearly fifty years. Shareholder primacy is the cornerstone of neoliberal economics. But now the Business Roundtable is shifting away from shareholder primacy to creating value for all stakeholders. Their one sentence mission statement states the promotion of the (American) economy "through sound public policies".
This would be a significant shift for companies as it would require moving from a short-term to a long-term outlook. A move to focusing on results through sound public policies would force companies to do more than just make money. It would put them on equal footing with society, which of course they are a part of, in finding solutions to today's big issues.
... the world faces enormous, thorny challenges that business is feeling: climate change, growing inequality (and awareness that these CEOs make hundreds of times more than their employees), water and resource scarcity, soil degradation and loss of biodiversity, and more. These issues require systemic efforts, cooperation, and pricing of those “externalities” (like pollution and carbon emissions) that business has been able to push off to society. The current shareholder-obsessed system is not fit for this purpose. Individual profit-maximizing businesses will not be incentivized to tackle shared global challenges.
I'll keep reading more from the Business Roundtable group and will see if they have other information worth reporting.
More on Huawei:
Back in July, I commented on the security threat posed by Huawei and the Macdonald-Laurier Institute's push to socialize that threat. Last week there was an article in the Globe and Mail outlining how Canadian intelligence agencies could not agree on whether to ban Huawei equipment in the upcoming 5G communications networks. The article is unfortunately behind the Globe's paywall,
The article highlights how CSIS wants to ban Huawei while the CSE says "robust testing and monitoring of Huawei's 5G equipment could mitigate potential security risks". Security is not easy. It is a constant battle of detect, respond, change, and repeat. The foes on the Internet are constantly forcing us to adapt and react. Forcing security teams to focus on testing the network infrastructure in addition to all the work that is required to testing what is running on the network is ludicrous. We don't have enough resources to do the work we need to do now. Adding to the workload is a bad idea. I am fully behind the position that CSIS is taking: ban Huawei now.
Two new beers this week. The first was the Sunset Summer Ale from Smithers Brewery. I had their Hudson Bay ISA last week and this ale wasn't quite as good as that one. It had a bit of caramel nuttiness, low carbonation, and a high ABV at 5.5% for an ale. It was good all around but not exceptional.(3.25 / 5) The second was another Backalley Brew from Alley Kat. This was nice and light., with a little zip from some tangy carbonation. Tasty without screaming "pay attention to me". (3.5 / 5) No badges from Untappd this week.
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