The 1989 Canadian Guide to Profitable Ethical Investing
Ellman, EugenePublisher: James Lorimer & Company, Canada
Year Published: 1989
Pages: 170pp Price: $16.95 ISBN: ISBN 1-55028-232-8
Resource Type: Book
Cx Number: CX3939
The author says that there are two possible definitions for "ethical investment": 1) screening out particular investment which fail to meet specified ethical criteria; and 2) a positive choice of investments that fulfill certain social objectives. Both kinds are distinguished from conventional investment, in which the sole object is to make money with no consideration to ethical purposes or social consequences. Ellman argues that it is possible to make ethical choices, and still receive a profitable return on investment.
Ellman covers ethical investing under a number of broad headings. Under saving and borrowing, he looks as credit unions as a democratic and local alternative to banks, and surveys a number of consumer issues. A chapter is devoted to RRSPs, in which Ellman explains just what an RRSP is, how to buy one, and what the contribution limits are, as well as the ethical choices that can be made by favouring particular kinds of RRSP packages. Ellman then goes on the look at a number of ethical investment funds, looking at their performance and investment criteria. A chapter on alternative investing looks at how to invest in enterprises which are specifically set up to create economic alternatives, such as worker and other co-operatives.
There is also a chapter on enjoying life, looking at such topics as financing a leave from work, part-time work and work-sharing, and early retirement. A useful list of resources is included as well.
This is a useful introduction to personal financial planning generally, as well as to increasingly relevant topic of ethical investment.