Off-Track Betting

Posted on May 13, 2010 | 8 Comments

“Business enterprises are . . . organs of society. They do not exist for their own sake, but to fulfill a specific social purpose.”

–Peter Drucker, Management: Tasks, Responsibilities, Practices

Of all the damning emails that have emerged in the Goldman Sachs scandal, one in particular would have surely caught Peter Drucker’s eye: In a January 2007 missive, Goldman Sachs trader Fabrice Tourre described having created a financial product “which has no purpose, which is absolutely conceptual.” To Drucker, such a notion runs completely counter to what a business should be all about.

To be sure, Drucker understood the nature of risk, and the need to manage it.…

Off-Track Betting: Why ATMs Are Better Than CDOs

Posted on May 10, 2010 | No Comments

Read Drucker Institute Executive Director Rick Wartzman’s column for Bloomberg BusinessWeek here, as he explores why many of the derivatives traded by Goldman Sachs fail to meet the test of a true innovation.…

Off-Track Betting: Where Do We Draw the Line?

Posted on May 10, 2010 | One Comment

Hear Jay Prag, a Claremont Graduate University finance professor, on the challenges of regulating derivatives. If we equate derivatives with gambling what are the implications for Vegas and  government sanctioned lotteries?

Off-Track Betting: Is Wall Street Betting on the Failure of Greece?

Posted on May 7, 2010 | One Comment

Hear Michael Greenberger, a University of Maryland Law professor and former top official at the Commodity Futures Trading Commission, on the relationship between the finance industry and the potential economic failure of Greece, Spain, Portugal and Italy.

Off-Track Betting: Michael Greenberger on the Casino that is Wall Street

Posted on May 5, 2010 | No Comments

Hear Michael Greenberger, a University of Maryland Law professor and former top official at the Commodity Futures Trading Commission, on how Goldman engaged in high-stakes gambling.

Off-Track Betting: Matthew Bishop on Business and Social Purpose

Posted on Apr 30, 2010 | One Comment

Listen to Matthew Bishop, co-author of The Road from Ruin: How to Revive Capitalism and Put America Back on Top, on the social purpose of business and the potential pitfalls of derivatives.

Off-Track Betting: Resource Guide

Posted on Apr 30, 2010 | No Comments

Drucker Apps rounds out this conversation with resources that will help you continue to explore the questions raised and discover how you can move from ideas to action.

  • Did you know that there are Drucker Societies around the world now delivering presentations on “The Responsibility Gap”? Find out how you can join Drucker Society volunteers who are using Drucker’s core insights to discuss the vital importance of responsibility in today’s interconnected world.
  • Learn more about the complex nature of derivatives from Michael Greenberger, law professor and former official at the US Commodity Futures Trading Commission in his chapter of the report Make Markets be Markets.

Class Conflict

Posted on Apr 29, 2010 | 20 Comments

“Above all, in the knowledge society, the school becomes accountable for performance and results.”
—Peter Drucker, Post-Capitalist Society

The hottest debate in education right now is over attempts by federal officials to set common standards for public schools.

Proponents argue that common standards are the most effective way to measure achievement, hold educators accountable and provide young people with the skills they’ll need to compete in the global economy. Opponents reject common standards because, they say, this approach ignores the diversity of individual learning needs and smacks of a big government, one-size-fits-all solution to the problems of education.

Long before this dust-up, Peter Drucker envisioned what education in a modern society should look like.…

Class Conflict: How Do Teachers Measure Up?

Posted on Apr 26, 2010 | No Comments

The debate over Common Educational Standards for students raises questions about not only setting standards for teachers but also assessing them.

Read Rick Wartzman’s (Executive Director of The Drucker Institute) BusinessWeek column here, as he discusses American Federation of Teachers’ president Randi Weingarten’s call for wholesale changes in the way public school teachers are evaluated.…

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