Tuesday

Ten Common Sense Principles for a New Economy


David Korten is very concerned that we still haven't learned out lessons from the last meltdown. The proof? Here is David's list of Ten Principles that Sound Like Simple No Brainers, But Directly Support Actions So Radical as to Invite Instant Dismissal:

1. The proper purpose of an economy is to secure just, sustainable, and joyful livelihoods for all.

2. GDP is a measure of the economic cost of producing a given level of human well-being and happiness. As with any well-run business, the proper goal is to minimize the costs of a given level of useful output, not to maximize them.

3. A rational reallocation of real resources can achieve the essential reduction in aggregate human consumption required to bring the human species into balance with Earth’s biosphere simultaneously with improving the health and happiness of all.

4. Markets allocate efficiently only within a framework of appropriate rules that maintain the necessary conditions of competition, cost internalization, balanced trade, domestic investment, and equality.

5. A proper money system roots the power to create and allocate money in people and communities to facilitate the creation of livelihoods and ecologically balanced community wealth.

6. Money, which is easily created with a simple accounting entry, should never be the deciding constraint in making resource allocation decisions.

7. Wall Street financial institutions devoted to speculation, the inflation of financial bubbles, risk externalization, the extraction of usury, and the use of creative accounting to create money from nothing unrelated to the creation of anything of real value serve no social purpose, are all forms of theft, and should be regulated or taxed out of existence.

8. Greed is not a virtue; sharing is not a sin. If your primary business purpose is not to serve the community, you have no business being in business.

9. The only legitimate reason for government to issue a corporate charter extending special privileges favoring a particular enterprise is to serve a clearly defined public purpose. That purpose should be clearly stated in its charter and subject to periodic review.

10. Public policy properly favors local investors and businesses dedicated to creating community wealth over investors and businesses that come only to extract it.

Energized? Offended? Chime in below!

72 comments:

The Old Wolf said...

One of the fundamental principles of a capitalist economy, to wit, charging what the market will bear, is the personification of greed. Ethical business practices begin at the cash register. If I buy an item for $2.00, selling it for $40.00 simply because people will pay that much is immoral and destructive.

I love your thoughts. A world that works for 100% of humanity, without ecological insult or disadvantage to anyone, will require an economic restructuring from the ground up.

Charlotte Ashlock said...

What a great list!

Unknown said...

The problem with Principle #7 is that institutions of great economic power, such as Goldman Sachs, have gained great political power as well and are firmly entrenched in society. Usurping this power requires a fight of disorganized citizens against highly organized greed, i.e. citizens will need to become organized to the degree necessary to gain enough power to disband these institutions. Organizing for a specific cause is relatively straight forward, such as for a protest against a war or G20 policies. Organizing for a principle woven into the fabric of society is quite another matter. Martin Luther King began this effort, and it will take someone of his stature to continue it.

Gary Brumback said...

David Korten is one of my favorite authors. I quote him extensively in a new work of mine. He is, for example, prominently included along with Aristotle and eight others in my synopsis of "creative economic thinking from A TO Z minus E for economists."

I am certain Dr. Korten knows that a new or old economy cannot be separated from a new or old social and political structure of a society.

Imagine that there exists a new society, "Alter America," somewhat analogous to the idea of the alter ego.

Anyway you look at it, in our Real America, the large corporate "id," joined at the purse with the large government "id" is slowly ruining the nation.

Alter America would be a mirror image of Real America. The primary purpose would be to show Americans what a democratic and egalitarian society (as opposed to a male-dominated regime) would look like by contrasting what Real America is doing with what Alter America would do instead. For example if Real America escalates a war, Alter America would denounce it loudly and widely and would tell the American people what it would do instead.

Alter America would be founded by a new Citizen’s Assembly for Peace.

The alter economic system would be democratic capitalism (e.g., community capitalists and local markets would be the norm).

There would be an alter Constitution. It would, for example, explicitly prevent corporate personhood and require federal chartering of corporations. It would also require a national referendum on whether to start a preemptive war or to escalate existing ones.

There would be an alter government, a mirror image of our real, present-day one. For example, it would not be a model of a either a hands-off or a hand-outs government.

Alter America’s president, a miniature legislator, and a Supreme Court would be chosen by the Citizen’s Assembly for Peace or by a real poll of Americans who believe in the idea of an Alter America. My ideal for the presidency would be someone like Riane Eisler, author of the Real Wealth of Nations, a board member of the Women’s International League for Peace and Freedom (www.wilpf.org), or a mother or wife of a loved one lost in battle who has become an anti-war activist.

There would be an alter agency for each real federal agency. A primary responsibility of certain alter agencies would be to promote non violence and to curb and penalize violence. For example, the alter “Department of [Quality and Universal] Education” would put a premium on early education on non-violence; the “Product Safety [and Toy] Commission” would provide restrictions on and disincentives for making and selling warrior toys and games; the Bureau of Alcohol, Tobacco, and [Limited] Firearms would convince Americas of the Constitutional requirement for limited use of guns; and the “Federal [Truthful and Pacific] Communications Commission” would substantially curb the programming of violence into the mass media and would eliminate the advertising and propagandizing of the military.

Does Alter America sound fanciful? It certainly will to most. But anything conceivable is possible.

If you would like to know more about how to turn Real America into a Real Alter America, please let me know at democracypower@bellsouth.net.

Anonymous said...

"The proper purpose of an economy is to secure just, sustainable, and joyful livelihoods for all."

Some would scream SOCIALIST! Smarter people would scream PRACTICAL!

Anonymous said...

buy diazepam diazepam how much to take - diazepam withdrawal insomnia

Anonymous said...

buy xanax online without prescription what is generic xanax called - xanax drug class pregnancy

Anonymous said...

generic ativan ativan quitting smoking - side effects of lorazepam 1mg

Anonymous said...

ativan mg ativan 2mg overdose - lorazepam 1mg para que sirve

Anonymous said...

alprazolam buy order xanax india - xanax withdrawal gaba

Anonymous said...

buy diazepam cheap diazepam online no prescription - diazepam dosage forms

Anonymous said...

buy ativan online duration of ativan withdrawal - buy lorazepam in mexico

Anonymous said...

buy xanax xanax drug test army - generic xanax for dogs

Anonymous said...

buy diazepam withdrawal 2mg diazepam - diazepam 10 mg blauw

Anonymous said...

ativan for sale lorazepam 1mg street price - purchase ativan online no prescription

Anonymous said...

soma online drug interactions soma xanax - buy soma watson brand

Anonymous said...

soma online buy soma cheap - carisoprodol buy

Anonymous said...

buy valium in canada buy valium online paypal - cheap valium thailand

Anonymous said...

buy ambien online ambien cr trial offer - ambien and high cholesterol

Anonymous said...

buy soma online no prescription purpose soma medication - carisoprodol 350mg tablets

Anonymous said...

order soma online carisoprodol shelf life - carisoprodol 350 mg recreation

Anonymous said...

buy ambien online chemical name drug ambien - generic ambien cr

Anonymous said...

order soma carisoprodol high effects - soma prescription drug abuse

Anonymous said...

valium sale effects of valium during pregnancy - valium kids

Anonymous said...

Blogger: BK Communiqué Author Lists Blog - Post a Comment prednisone drug - prednisone for sale http://www.ourdailybreadmarket.net/#prednisone-for-sale

Anonymous said...

Otc Medications Safe For Dogs buy acomplia online no prescription - acomplia for sale http://www.buydiscountedisotretinoin.net/#acomplia-for-sale

Anonymous said...

Hello, buy generic lipitor - lipitor no prescription needed http://www.costoflipitoronline.net/#lipitor-no-prescription-needed

Anonymous said...

Hello, buy cytotec - generic cytotec no prescription http://www.cytotecforlessonline.net/#buy-cytotec

Anonymous said...

Corvite Medication cheap fluconazole - generic fluconazole no prescription http://www.diflucansaleonline.net/#generic-fluconazole-no-prescription , [url=http://www.diflucansaleonline.net/#fluconazole-online-no-prescription ]fluconazole online no prescription [/url]

Anonymous said...

Drug Math For Nursing Students lexapro online pharmacy - lexapro pills http://www.costoflexaproonline.net/#lexapro-pills , [url=http://www.costoflexaproonline.net/#lexapro-price ]lexapro price [/url]

Anonymous said...

2, generic finasteride no prescription - buy cheap propecia http://www.propeciagenericforsale.com/#cost-of-propecia , [url=http://www.propeciagenericforsale.com/#buy-propecia-no-prescription ]buy finasteride 5mg [/url]

Anonymous said...

tfv [url=http://www.plavixbuynow.net/#order-plavix-no-prescription ]cheap plavix pills [/url] - where to buy plavix - buy plavix 75 mg http://www.plavixbuynow.net/#cheap-clopidogrel ,

Anonymous said...

2013 zyban without prescription - zyban bupropion http://www.wellbutrinforsaleonline.net/, [url=http://www.wellbutrinforsaleonline.net/]bupropion online [/url]

Anonymous said...

levitra levitra 20 mg pricelevitra price increase
levitra levitra new zealandlevitra questions

Anonymous said...

buy levitra levitra johnsonlevitra 50mg
levitra levitra jellylevitra recreational

Anonymous said...

cialis information cialis half lifecialis men
canada pharmacy pharmacy-0nlineorganic pharmacy ?????????

Anonymous said...

http://www.biocrim.com/ cheap viagra super active 100mggold viagra 3000mg
tadalafil tadalafil 20mg dosagetadalafil indian brands

Anonymous said...

levitra length of effectiveness levitra compared to viagralevitra versus viagra
pharmacy kroger hours pharmacy uwpharmacy board az

Anonymous said...

cialis xm radio cialis normal dosagecialis 05mg
levitra online canada levitra kaufenlevitra buy

Anonymous said...

pharmacy 860 apartments pharmacy 82nd columbuspharmacy reviewer
cialis levitra cialis levitra viagrageneric cialis 60 mg

Anonymous said...

cialis patent expires cialis no rxcialis professional
levitra generic vs brand name levitra for daily uselevitra maker

Anonymous said...

cialis lisinopril cialis bathtubscialis recreational
pharmacy job market pharmacy yo gottipharmacy school rankings

Anonymous said...

levitra at walmart levitra uputstvo za upotrebulevitra no prescription canada
viagra canada over the counter ordering viagra online legalviagra online jelly

Anonymous said...

cialis 3 day cialis kick in timecialis daily use review
provigil for add provigil vs modalertprovigil dave asprey

Anonymous said...

Your οωn post haѕ prοven helрful tο me.
It’s really educational and you're simply obviously very educated in this field. You possess exposed my eye to numerous thoughts about this topic together with intriguing, notable and solid written content.

Here is my blog: buy viagra

Anonymous said...

phentermine jonesboro ar phentermine urine drug screenphentermine rxlist
levitra prices walgreens levitra kako delujelevitra and nitrates

Anonymous said...

cialis cialis yellow pillcialis 80 mg
cvs pharmacy pharmacy kaiserpharmacy 08873

Anonymous said...

buy viagra is it legal to order viagra from canadiangeneric viagra canada online
viagra cheap viagra 100mg mastercardviagra jelly banana

Anonymous said...

levitra levitra liquidlevitra kopen
viagra online cheap viagra and cialis on linecheap viagra generic canada

Anonymous said...

canadian pharmacy online pharmacy drugspharmacy association
cialis drug cialis street pricecialis knockoffs

Anonymous said...

viagra online buy australia can i buy viagra in canadaviagra time to work
cialis bathtubs cialis overnightcialis 80

Anonymous said...

viagra instructions best quality viagra onlineviagra snorting
cialis quit working cialis overnightcialis generic cheap

Anonymous said...

pharmacy in canada pharmacy technician schoolspharmacy 2 home review

Anonymous said...

buy tadalafil tadalafil 36 hourstadalafil rxlist
viagra ed viagra 99 dollarsviagra online discreet

Anonymous said...

http://www.phentermineprescription.net/ phentermine vs amphetaminephentermine 2013
generic cialis cialis informationcialis levitra viagra

Anonymous said...

phentermine pills phentermine usesphentermine tablets vs capsules
levitra 05 mg levitra mglevitra rxlist

Anonymous said...

pharmacy history pharmacy networkpharmacy 90027
cialis 20 mg cialis ingredientscialis for daily use cost

Anonymous said...

cialis and grapefruit cialis knee paincialis yahoo
pharmacy yahoo answers pharmacy pill idpharmacy careers

Anonymous said...

tramadol zofran interaction tramadol in dogstramadol 800mg
cialis 40 mg reviews cialis 40 mg ukcialis long does last

Anonymous said...

cialis commercial 2012 cialis time to workcialis online prescription
levitra bph levitra makerlevitra professional

Anonymous said...

http://www.levitran.com/ levitra young menlevitra length of action
online levitra levitra generic reviewslevitra rxlist

Anonymous said...

buy cialis cialis pdo 6cialis youtube
cialis drug cialis directionscialis 30 mg dose

Anonymous said...

generic viagra online cheap viagra overnightcheap viagra blog
ambien zolpidem zolpidem 74zolpidem y alcohol

Anonymous said...

pharmacy no rx pharmacy vs nursingpharmacy queens ny
pharmacy in canada pharmacy 77060pharmacy assistant salary

Anonymous said...

online tadalafil tadalafil tablets 5mgtadalafil 20mg
cialis cialis 10mg vs 20mgcialis vs levitra

Anonymous said...

tadalafil tadalafil canada online pharmacytadalafil hearing loss
viagra viagra online 24 hoursviagra how to take

Anonymous said...

pharmacy pharmacy jobs in mapharmacy practice news
http://www.provigil-online.info/ provigil usersprovigil for adhd

Anonymous said...

provigil vs wellbutrin provigil yohimbeprovigil kids
cialis 72 stunden cialis 20cialis 5 mg cost

Anonymous said...

pharmacy 4 less stafford tx pharmacy technician schoolspharmacy ????????????
pharmacy reviewer pharmacy discount networkpharmacy 6 year program

Anonymous said...

tramadol used for depression tramadol opiatetramadol 37.5 mg
pharmacy 89102 pharmacy residency matchpharmacy degree

Anonymous said...

provigil generic walmart provigil addictionprovigil dave asprey
cialis over the counter cialis price walmartcialis 60 mg

Anonymous said...

http://www.genericviagras.net/ viagra voucherviagra canada no prescription
buy tadalafil tadalafil raynaud'stadalafil recreational use