Tutorial Ticket (Week 3)

I would like you to consider Steve Cork's idea about 'Ruling the World'. In 150 words or less- if you ruled the world- how could you use the economy to improve the world?

Hint: you might like to consider what goals you'd like to achieve, and whether the 'market' is indeed the appropriate way to achieve this.

If I were to rule the world, I would use the economy to support social enterprises. These are businesses run under a capitalist model but for philanthropic ends often involving both the product (e.g. recyclable water bottles) and the profits (e.g. investment for wells in Africa). I would use economic incentives such as dollar-for-dollar matching of capital to encourage these businesses to be started, and tax deductions and the like to encourage investment in the resulting social enterprises. If social enterprises can be set on their feet, they work effectively within existing economies to create social good by harnessing the ordinary profit motives of business. It would be sensible to support such measures as it would mean the ruler of the world could delegate some of their work to private businesses!