Location: St Paul University, Amphitheatre, 223 Main Street, Ottawa (12:30 to 2:45 PM)
PLUS: Optional buffet lunch beforehand at the adjacent Green Door Restaurant, 198 Main Street (11:30 to 12:30 PM)

Speaker: HBS Emeritus Professor Bruce Scott.
Topic: Overhauling Capitalism and Strengthening the Essence of Democracy-Part II: Democracy at Risk.
Remote presentation from HBS in Boston via Skype.
Moderated by Prof. Michael Miles, Director MBA Program, University of Ottawa.
Organized by: Alain Paul Martin, President, Harvard University Club of Ottawa. 

Required Pre-reading: The Concept of Capitalism, Bruce R. Scott (75 pages).
This short easily-read 75-page Monograph is available in-stock at Chapter-Indigo stores (http://www.chapters.indigo.ca/)

Space is limited. Register now at www.harvardottawa.org.  Fee (excludes lunch): $20 + GST. Only confirmed online registrants will be admitted.

Agenda:
Please arrive early to facilitate registrations.
Allow 5 minutes to find parking space and walk to the building.

11:30 a.m.  Green Door Restaurant (Optional): Cash Buffet Lunch. (Not included in the cost of event admission).
12:30 p.m.  Registration, Amphitheatre, St Paul University, 223 Main Street. Park in the Visitors' lot.
12:45 p.m.  Professor Scott together with Alain Martin Address ParticipantsVia Skype from HBS in Boston.
2:45 p.m.  Meeting Ends.

Event Information:
This event will be useful to anyone interested in economics and democracy including economists, legislators, executives, lawyers and policy makers in national and local governments and international institutions.

Space is limited. Register now at www.harvardottawa.org.  Fee (excludes lunch): $20 + GST. Only confirmed online registrants will be admitted.

Summary of "The Concept of Capitalism" by Bruce R. Scott:
A single system of economic governance – capitalism – prevails in the world today, both in theory and in practice. Yet there is neither a standard definition of capitalism nor a theory of how it works. Moreover, the most common conception of capitalism is that of a one-level system governed by markets, i.e., supply and demand, where many socioeconomic externalities are ignored.

The purpose of this book is to counter this conception, showing that capitalism is more than markets. In fact, capitalism shares many parallels with everyday organized sports, in that both are indirect, three-level systems of governance where "freedom" is conditional on "playing by the rules." In organized sports, games (level 1) are shaped by official rules and monitored by referees (level 2), which are in turn regulated and revised by a governing organization (level 3) that oversees the sport as a whole. In capitalism, markets (level 1) are shaped by institutions and regulations and monitored by independent officials (level 2), which are in turn selected and shaped by a political authority (level 3) that oversees the system as a whole.
 
As simple and obvious as this parallel with organized sports may seem, the underlying cause of much of the economic instability of the last 25 years, and specifically of the current crisis, has stemmed from not understanding capitalism in this way, i.e., as a three-level system of governance. Only by improving our understanding of capitalism can we create better institutions and implement better policymaking to not only fix the present crisis but also avoid future ones. 

Background Information (See also the Description of the previous Centennial seminar from 2008):
Entitled "Overhauling Capitalism and Strengthening the Essence of Democracy", and organized by the HBS Club of Ottawa, the June 2008 conference commemorated Harvard Business School's centennial in Ottawa. It provided invaluable insights into the critical economic issues of our times.
Planned 18 months prior to the global financial crisis which started to unfold almost immediately following the event, the conference was most timely for economists, policy makers, regulators, bankers, investors and other participants from several countries.

Bruce Scott is Emeritus Professor at Harvard Business School. His areas of research are the impact of public policy on the business environment and economic strategies of nations. His extensive 15-year research on capitalism and democracy is the subject of an 850-page book, titled “Capitalism: Its Origins and Evolution as a System of Governance” to be published this year by Springer.  Judging from discussions with Prof. Scott and other Harvard faculty members, this second book provides the foundation for a new paradigm in economics.

The current book "The Concept of Capitalism" which will be the major focus of this presentation represents a short easily-read introduction to the larger book. 

Moderator Information:
The moderator, Prof. Michael Miles, is Director of the MBA Program, University of Ottawa. He has an extensive experience in governance (public and private sectors) and organization change in the Americas, Asia and Europe.

Important information regarding Registration and Admittance:

• We expect this important event to be sold out early. Register now at www.harvardottawa.org! 
• Limited parking is available in the visitors' lot at St Paul University.
• Only individuals who register online by Tuesday Feb. 2nd will be admitted.
• Opening our events to the community is an important priority for Harvard University Club of Ottawa. Everyone is therefore welcome to participate in this event. Please consider registering and bringing friends, family, business contacts and University, College and high-school students to this important event.