David Korten: The Missing Vision

[marmar]

from YES! Magazine:




The Missing Vision
David Korten begins a blog series outlining his Agenda for a New Economy.

by David Korten
posted Jan 04, 2011


Few and fortunate are those whose lives have not been directly touched by the 2008 Wall Street meltdown and its consequences. People want to understand what went wrong and how we can set it right. Yet the public commentary continues to center primarily on finger-pointing. Who knew what when? Which regulators were asleep at the switch, and why?

Most calls for action seek only to limit the excesses and deceptions of greedy bankers and complicit regulators. We have yet to engage in a much-needed national conversation that addresses essential, yet unasked, questions. For example:

* Do Wall Street institutions do anything so vital for the national interest as to justify opening the national purse strings and showering them with trillions of dollars in order to save them from the consequences of their own excess?
* Is it possible that the whole Wall Street edifice is built on an illusion that has no substance yet carries deadly economic, social, and environmental consequences for the larger society?
* Might there be other ways to provide necessary and beneficial financial services with greater effectiveness and at less cost?

Ultimately, it comes down to a question of the values we believe the economy should serve. Should it give priority to money, or to life? To the fortunes of the few, or the well-being of all?

The existing Wall Street-led economy is highly effective and efficient at converting real living wealth to phantom financial wealth to make rich people richer. It is a path to collective suicide. ..............(more)

The complete piece is at: http://www.yesmagazine.org/blogs/david-korten/the-missing-vision

[scarletwoman]

1. I don't have time this morning to follow the link, but I'd like to echo the question:

Do we really need Wall Street?

[raccoon]

2. Rec'd, and

:kick:

[OneGrassRoot]

3. I posted this in GD yesterday, with no responses...

and that's totally cool. :)

I mention that only because in the post I also invited anyone interested to consider having a discussion of his book, "Agenda for a New Economy" and these ongoing blogs he's going to write.

I love his book!

:hi:

[marmar]

4. "Agenda for a New Economy"

Most important book I read last year. I got one of those "Moments of clarity" somewhere in my reading of that book.

[OneGrassRoot]

5. My copy is doggeared like you wouldn't believe...

Then again, yours probably is, too!

:hi:

:fistbump:

[groovedaddy]

6. Korten is asking the questions that need to be asked. n.t