This book explores Quaker enterprises from 1700 to the twentieth century as examples of an ethical capitalism, and tests them against prominent economists and their concern for economic justice. King offers ‘Quakernomics’ as a model for corporate social responsibility in the modern world, exploring Quaker businesses which combine commercial success with philanthropy and social activism.
The volume offers an exploration of the theory and practice of Quaker enterprise through the centuries, set against the ideas of prominent economists such as Smith, Marx, Marshall, Schumpeter, the Austrian School, Keynes, Friedman, Krugman, Stiglitz and Sachs. It also analyses the role that Ayn Rand and Milton Friedman have had in leading to what King underlines as the largely unethical capitalism of today.
Covering the work of Quaker chocolatiers, iron masters and bankers, ‘Quakernomics’ presents a historical account of the Quakers’ practice of a ‘total capitalism’, which King argues we should regard not as an antiquated nicety but as an immediately relevant guide for today’s global economy.
