What is *Licence to Be Bad* by Jonathan Aldred about?

*Licence to Be Bad* critiques how modern economic theories, particularly neoclassical economics, have reshaped societal values to prioritize self-interest over collective good. Aldred argues that ideas from economists like Milton Friedman and agency theory corrupted moral decision-making in business and politics, enabling unethical behavior. The book traces this shift through case studies, showing how economics became a “moral license” for exploitation.

Who should read *Licence to Be Bad*?

This book suits readers interested in economics, ethics, or social policy, including students, policymakers, and critics of capitalism. It appeals to those seeking to understand how economic theories influence real-world issues like inequality, corporate greed, and climate inaction. Aldred’s accessible style makes complex ideas digestible for non-experts.

What are the key concepts in *Licence to Be Bad*?

- **Moral licensing**: How economics justified selfishness as rational. - **Agency theory**: Prioritizing shareholder profits over societal well-being. - **Neoclassical dominance**: The suppression of alternative economic models. - **Ethical erosion**: Case studies linking economic theories to crises like the 2008 crash.

How does *Licence to Be Bad* critique mainstream economics?

Aldred dismantles the myth of economics as a neutral science, exposing its ethical assumptions. He challenges cost-benefit analysis, “trickle-down” theories, and the overreliance on markets, arguing these frameworks ignore moral responsibility and perpetuate systemic inequality. The book highlights how economics became a tool to legitimize greed.

What economists does Jonathan Aldred critique in *Licence to Be Bad*?

Milton Friedman, Gary Becker, and Michael Jensen are central targets. Aldred critiques Friedman’s shareholder primacy, Becker’s expansion of economics into social domains, and Jensen’s agency theory, linking their ideas to corporate scandals and reduced accountability.

How does *Licence to Be Bad* address climate change?

Aldred argues traditional cost-benefit analysis fails climate policy by undervaluing future generations and ecosystems. He advocates moving beyond market-based solutions, emphasizing ethics over profit-driven frameworks. The book critiques carbon trading and warns against “greenwashing” through economic jargon.

What solutions does *Licence to Be Bad* propose?

Aldred calls for economics to reintegrate ethics, diversify beyond neoclassical models, and prioritize long-term societal health. He advocates policy shifts like stricter corporate accountability, wealth taxes, and rejecting GDP as a progress metric. The book urges readers to challenge economics’ moral authority.

How does *Licence to Be Bad* compare to Ha-Joon Chang’s *Economics: The User’s Guide*?

Both critique mainstream economics, but Aldred focuses on moral corruption, while Chang explains economic diversity. Chang’s book is an introductory guide, whereas *Licence to Be Bad* is a polemic against specific theories and their real-world harms.

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Licence to be Bad

Jonathan Aldred

4.08 (296 Reviews)

Economics Philosophy Finance

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How economics became a moral poison - Cambridge economist Jonathan Aldred reveals how Friedman, Hayek, and others normalized selfishness as rational behavior. Praised by Ha Joon Chang as "going to change the way we understand economics, politics, and society."

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Real trust, however, means believing someone will do right even when they could profit by breaking promises.

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"Reading used to feel like a chore. Now it’s just part of my lifestyle."

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"Feels effortless compared to reading. I’ve finished 6 books this month already."

@djmikemoore

"BeFreed turned my guilty doomscrolling into something that feels productive and inspiring."

@Pitiful

4.5K

"BeFreed turned my commute into learning time. 20-min podcasts are perfect for finishing books I never had time for."

@SofiaP

"BeFreed replaced my podcast queue. Imagine Spotify for books — that’s it. 🙌"

@Jaded_Falcon

201

"It is great for me to learn something from the book without reading it."

@OojasSalunke

"The themed book list podcasts help me connect ideas across authors—like a guided audio journey."

@Leo, Law Student, UPenn

483

"Makes me feel smarter every time before going to work"

@Cashflowbubu

"Instead of endless scrolling, I just hit play on BeFreed. It saves me so much time."

@Moemenn

"I never knew where to start with nonfiction—BeFreed’s book lists turned into podcasts gave me a clear path."

@Chloe, Solo founder, LA

117

"Perfect balance between learning and entertainment. Finished ‘Thinking, Fast and Slow’ on my commute this week."

@Raaaaaachelw

"Crazy how much I learned while walking the dog. BeFreed = small habits → big gains."

@Matt, YC alum

108

"Reading used to feel like a chore. Now it’s just part of my lifestyle."

@Erin, Investment Banking Associate , NYC

254

"Feels effortless compared to reading. I’ve finished 6 books this month already."

@djmikemoore

"BeFreed turned my guilty doomscrolling into something that feels productive and inspiring."

@Pitiful

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"BeFreed turned my commute into learning time. 20-min podcasts are perfect for finishing books I never had time for."

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"BeFreed replaced my podcast queue. Imagine Spotify for books — that’s it. 🙌"

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201

"It is great for me to learn something from the book without reading it."

@OojasSalunke

"The themed book list podcasts help me connect ideas across authors—like a guided audio journey."

@Leo, Law Student, UPenn

483

"Makes me feel smarter every time before going to work"

@Cashflowbubu

"Instead of endless scrolling, I just hit play on BeFreed. It saves me so much time."

@Moemenn

"I never knew where to start with nonfiction—BeFreed’s book lists turned into podcasts gave me a clear path."

@Chloe, Solo founder, LA

117

"Perfect balance between learning and entertainment. Finished ‘Thinking, Fast and Slow’ on my commute this week."

@Raaaaaachelw

"Crazy how much I learned while walking the dog. BeFreed = small habits → big gains."

@Matt, YC alum

108

"Reading used to feel like a chore. Now it’s just part of my lifestyle."

@Erin, Investment Banking Associate , NYC

254

"Feels effortless compared to reading. I’ve finished 6 books this month already."

@djmikemoore

"BeFreed turned my guilty doomscrolling into something that feels productive and inspiring."

@Pitiful

4.5K

"BeFreed turned my commute into learning time. 20-min podcasts are perfect for finishing books I never had time for."

@SofiaP

"BeFreed replaced my podcast queue. Imagine Spotify for books — that’s it. 🙌"

@Jaded_Falcon

201

"It is great for me to learn something from the book without reading it."

@OojasSalunke

"The themed book list podcasts help me connect ideas across authors—like a guided audio journey."

@Leo, Law Student, UPenn

483

"Makes me feel smarter every time before going to work"

@Cashflowbubu

1.5K Ratings4.7

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Licence to be Bad

Jonathan Aldred

4.08 (296 Reviews)

Economics Philosophy Finance

Обзор

Ключевые Выводы

Автор

Часто Задаваемые Вопросы

Исследуйте Свой Способ Обучения

Краткое резюме9мин

Почувствуйте книгу через голос автора

Глубокое погружение42мин

Превратите знания в увлекательные, богатые примерами идеи

Карточки10 идей

Захватите ключевые идеи мгновенно для быстрого обучения

Развлекательно24мин

Наслаждайтесь книгой в весёлой и увлекательной форме

Лучшая цитата из «Licence to be Bad»

Real trust, however, means believing someone will do right even when they could profit by breaking promises.

Похожее

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Economics: The User’s Guide

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Ключевые выводы

When the Game Changed and We Didn't Notice

00:00

Think back to 1945. A dairy farmer named Antony Fisher picked up Friedrich Hayek's "The Road to Serfdom" and had an epiphany about free markets. But when he approached Hayek about entering politics, the economist gave him curious advice: don't bother with politics-influence the influencers instead. Fisher took this to heart, made millions introducing battery-chicken farming to Britain, then founded the Institute of Economic Affairs in 1955. This think tank would eventually arrange Margaret Thatcher's first meeting with Hayek, a moment so emotional that Hayek remarked, "She's so beautiful." What began with chicken farms transformed global politics. By 1981, Fisher's Atlas Economic Research Foundation had grown into a network of over 500 free-market organizations across 90 countries. This wasn't just about spreading ideas-it was about fundamentally rewiring how we think about human behavior, trust, fairness, and what we owe each other. The revolution succeeded not through force but through a gradual encroachment of economic thinking into every corner of our lives, until concepts like "everyone has their price" stopped sounding cynical and started sounding obvious.

The Prisoner's Dilemma and the Death of Real Trust

When Wealth Became More Important Than Justice

Why We Started Believing Government Is Always the Problem

When Not Contributing Became the Smart Choice

Markets in Everything - Including What Shouldn't Be for Sale

Reclaiming Our Humanity from Economic Logic

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Познакомьтесь с Licence to be Bad по-своему.

Создано выпускниками Колумбийского университета в Сан-Франциско

BeFreed объединяет глобальное сообщество из 200 000+ любознательных умов

Узнайте больше о том, как обсуждают BeFreed в интернете

"Instead of endless scrolling, I just hit play on BeFreed. It saves me so much time."

@Moemenn

"I never knew where to start with nonfiction—BeFreed’s book lists turned into podcasts gave me a clear path."

@Chloe, Solo founder, LA

117

"Perfect balance between learning and entertainment. Finished ‘Thinking, Fast and Slow’ on my commute this week."

@Raaaaaachelw

"Crazy how much I learned while walking the dog. BeFreed = small habits → big gains."

@Matt, YC alum

108

"Reading used to feel like a chore. Now it’s just part of my lifestyle."

@Erin, Investment Banking Associate , NYC

254

"Feels effortless compared to reading. I’ve finished 6 books this month already."

@djmikemoore

"BeFreed turned my guilty doomscrolling into something that feels productive and inspiring."

@Pitiful

4.5K

"BeFreed turned my commute into learning time. 20-min podcasts are perfect for finishing books I never had time for."

@SofiaP

"BeFreed replaced my podcast queue. Imagine Spotify for books — that’s it. 🙌"

@Jaded_Falcon

201

"It is great for me to learn something from the book without reading it."

@OojasSalunke

"The themed book list podcasts help me connect ideas across authors—like a guided audio journey."

@Leo, Law Student, UPenn

483

"Makes me feel smarter every time before going to work"

@Cashflowbubu

Создано выпускниками Колумбийского университета в Сан-Франциско

BeFreed объединяет глобальное сообщество из 200 000+ любознательных умов

Узнайте больше о том, как обсуждают BeFreed в интернете

"Instead of endless scrolling, I just hit play on BeFreed. It saves me so much time."

@Moemenn

"I never knew where to start with nonfiction—BeFreed’s book lists turned into podcasts gave me a clear path."

@Chloe, Solo founder, LA

117

"Perfect balance between learning and entertainment. Finished ‘Thinking, Fast and Slow’ on my commute this week."

@Raaaaaachelw

"Crazy how much I learned while walking the dog. BeFreed = small habits → big gains."

@Matt, YC alum

108

"Reading used to feel like a chore. Now it’s just part of my lifestyle."

@Erin, Investment Banking Associate , NYC

254

"Feels effortless compared to reading. I’ve finished 6 books this month already."

@djmikemoore

"BeFreed turned my guilty doomscrolling into something that feels productive and inspiring."

@Pitiful

4.5K

"BeFreed turned my commute into learning time. 20-min podcasts are perfect for finishing books I never had time for."

@SofiaP

"BeFreed replaced my podcast queue. Imagine Spotify for books — that’s it. 🙌"

@Jaded_Falcon

201

"It is great for me to learn something from the book without reading it."

@OojasSalunke

"The themed book list podcasts help me connect ideas across authors—like a guided audio journey."

@Leo, Law Student, UPenn

483

"Makes me feel smarter every time before going to work"

@Cashflowbubu

"Instead of endless scrolling, I just hit play on BeFreed. It saves me so much time."

@Moemenn

"I never knew where to start with nonfiction—BeFreed’s book lists turned into podcasts gave me a clear path."

@Chloe, Solo founder, LA

117

"Perfect balance between learning and entertainment. Finished ‘Thinking, Fast and Slow’ on my commute this week."

@Raaaaaachelw

"Crazy how much I learned while walking the dog. BeFreed = small habits → big gains."

@Matt, YC alum

108

"Reading used to feel like a chore. Now it’s just part of my lifestyle."

@Erin, Investment Banking Associate , NYC

254

"Feels effortless compared to reading. I’ve finished 6 books this month already."

@djmikemoore

"BeFreed turned my guilty doomscrolling into something that feels productive and inspiring."

@Pitiful

4.5K

"BeFreed turned my commute into learning time. 20-min podcasts are perfect for finishing books I never had time for."

@SofiaP

"BeFreed replaced my podcast queue. Imagine Spotify for books — that’s it. 🙌"

@Jaded_Falcon

201

"It is great for me to learn something from the book without reading it."

@OojasSalunke

"The themed book list podcasts help me connect ideas across authors—like a guided audio journey."

@Leo, Law Student, UPenn

483

"Makes me feel smarter every time before going to work"

@Cashflowbubu

"Instead of endless scrolling, I just hit play on BeFreed. It saves me so much time."

@Moemenn

"I never knew where to start with nonfiction—BeFreed’s book lists turned into podcasts gave me a clear path."

@Chloe, Solo founder, LA

117

"Perfect balance between learning and entertainment. Finished ‘Thinking, Fast and Slow’ on my commute this week."

@Raaaaaachelw

"Crazy how much I learned while walking the dog. BeFreed = small habits → big gains."

@Matt, YC alum

108

"Reading used to feel like a chore. Now it’s just part of my lifestyle."

@Erin, Investment Banking Associate , NYC

254

"Feels effortless compared to reading. I’ve finished 6 books this month already."

@djmikemoore

"BeFreed turned my guilty doomscrolling into something that feels productive and inspiring."

@Pitiful

4.5K

"BeFreed turned my commute into learning time. 20-min podcasts are perfect for finishing books I never had time for."

@SofiaP

"BeFreed replaced my podcast queue. Imagine Spotify for books — that’s it. 🙌"

@Jaded_Falcon

201

"It is great for me to learn something from the book without reading it."

@OojasSalunke

"The themed book list podcasts help me connect ideas across authors—like a guided audio journey."

@Leo, Law Student, UPenn

483

"Makes me feel smarter every time before going to work"

@Cashflowbubu

1.5K Ratings4.7

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Licence to be Bad by Jonathan Aldred Summary

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Similar books to Licence to be Bad

Лучшая цитата из «Licence to be Bad»

Похожее

Ключевые выводы

When the Game Changed and We Didn't Notice

The Prisoner's Dilemma and the Death of Real Trust

When Wealth Became More Important Than Justice

Why We Started Believing Government Is Always the Problem

When Not Contributing Became the Smart Choice

Markets in Everything - Including What Shouldn't Be for Sale

Reclaiming Our Humanity from Economic Logic

Режим Краткое резюме - Прочитайте или прослушайте краткое содержание Licence to be Bad за 9 минут

Режим Карточки - Топ-10 идей из Licence to be Bad кратко

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Скачать Licence to be Bad PDF

Скачать Licence to be Bad EPUB

Похожее

Ключевые выводы

When the Game Changed and We Didn't Notice

The Prisoner's Dilemma and the Death of Real Trust

When Wealth Became More Important Than Justice

Why We Started Believing Government Is Always the Problem

When Not Contributing Became the Smart Choice

Markets in Everything - Including What Shouldn't Be for Sale

Reclaiming Our Humanity from Economic Logic