By David C Korten
Ultra-modern fiscal situation is the worst because the nice melancholy. in spite of the fact that, as David Korten indicates, the stairs being taken to handle it -- together with pouring trillions of greenbacks into bailouts for the Wall road associations that created the mess -- do not anything to house the truth of a failed economic climate. it is like treating melanoma with Band-Aids. And the monetary cave in now within the public highlight is barely the top of the iceberg. The system's social and environmental mess ups could eventually be much more destructive.Korten identifies the deeper resources of the failure: Wall highway associations that experience perfected the artwork of constructing "wealth" with no generating whatever of genuine price: phantom wealth. Its significant avid gamers have interaction in speculative buying and selling, purchase into asset bubbles, create debt pyramids, and have interaction in predatory lending practices. Their seeming luck created an fiscal mirage that led us to think the economic climate used to be increasing exponentially, at the same time our monetary, social, and traditional capital eroded and most of the people struggled ever tougher to make ends meet.Our desire lies no longer with Wall highway, Korten argues, yet with major highway, which creates actual wealth from genuine assets to fulfill genuine wishes. He outlines an time table to disencumber the latent entrepreneurial energies of major highway from Wall Street's lethal grip and convey into being a brand new economic system -- in the neighborhood established, group orientated, and dedicated to making a larger existence for all. it is going to require brave and innovative adjustments to how we degree fiscal good fortune, arrange our economy, even the very manner we create funds. Korten outlines a difficult yet functional time table, summarized on the finish of the booklet in his model of the commercial handle to the kingdom he needs Barack Obama have been capable of deliver.Korten's goal isn't really to provide ultimate solutions yet relatively to impress dialogue of ideas that strong pursuits favor now not be pointed out. those pursuits devised the method that has introduced us to the threshold of spoil. it is time to draw back from the Wall road approach of phantom wealth and go back to an economic climate firmly rooted within the long term well-being of individuals and the planet."At final, a ebook through one in every of our so much wonderful financial thinkers that outlines the realcauses of -- and recommendations to -- the present financial difficulty. David Korten evokes usto take activities to create a extra simply and sustainable international for ourselves and futuregenerations." (John Perkins, ny occasions bestselling writer of Confessions of an fiscal Hit guy)
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Extra info for Agenda for a New Economy
More is generally better. Given a combination of market forces, the provision of public incentives, and a proper mix of technology, there is no inherent environmental limit to economic growth. Economic growth is disrupting the values and living systems essential to human well-being. Beyond a minimal threshold of consumption, building community, rather than increasing the consumption of stuff, is the key to increasing human health and happiness. Equity Poverty, not equity, is the issue, and the proper response is to kick-start the growth process within the world’s remaining pockets of absolute poverty by introducing technologies and social services funded by foreign aid.
Government is the enemy of both.
We were excelling at making a living but too often failing at making a life. We celebrated our prosperity but yearned for purpose. We cherished our freedoms but longed for connection. In an age of plenty, we were feeling spiritual hunger. 6 This is consistent with studies ﬁnding that beyond a basic threshold, equity and community are far more important determinants of health and happiness than income or possessions. Indeed, as Speth documents, economic growth tends to be associated with increases in individualism, social fragmentation, inequality, depression, and even impaired physical health.
Agenda for a New Economy by David C Korten