agenda for new economy

8/3/2019 Agenda for New Economy

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an excerpt from

Agenda for a New Economy:

From Phantom Wealth to Real Weal

by David Korten


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CONTENTS

Preface vii

PART I


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iv AGENDA FOR A NEW ECONOMY

11 Liberating Main Street 117

12 Real-Wealth Financial Services

13 Life in a Real-Wealth Economy

PART IV


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PREFACE

The Wall Street implosion in 2008 a

subsequent bailout effort present an

tunity to open a long-overdue national

b i i l k d


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viii AGENDA FOR A NEW ECONOMY

financial crisis is to let go of Wall Str

economy based on different values and

I have written Agenda for a New E

silence and open a discussion of this

possibility. It is addressed specifically todeepen their understanding of why thin

wrong economically, socially, and envir


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My wife, Fran, and I discussed his

morning and had a phone conversation

ning, during which we outlined a pro

have the book ready to launch on Janu

diately following Obamas presidentiawas the day I was scheduled to deliver

a national theological conference spon


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x AGENDA FOR A NEW ECONOMY

Wall Street financial schemes and scam

that Wall Street is operating an extortio

unbearable costs on society while servin

tion not better met in other ways, we rea

ry about the arcane details of exactly hFor those who want the details, there are

those mentioned above by Baker Phillip


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self-organization and the importance

essential economic resources. I learned

large-scale institutional change from my

successful and unsuccessful efforts to

resource-management systems in irrigplace control in the hands of local comm

ing these fifteen years in Asia that I be


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xii AGENDA FOR A NEW ECONOMY

Empire to Earth Communitybrought hunderstanding of why our species is n

sis and raised my consciousness of th

and perverse consequences of dominato

tutions that nurture and reward behavexperience with the Business Alliance fo

omies inspired my sense of the opportu


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Independent Business Alliance (amibain the United States and Canada, and

strengthening local independent busi

their distinctive brand identity.

BALLE has a particular focus on devamong local independent businesses t

calls the building blocks of healthy loc


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PART I

THE CASE FO

NEW ECONO


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2 PART I: THE CASE FOR A NEW ECONOMY

Street alchemists to reveal an illusion managers outrageous sums for creati

unrelated to the production of anythin

were merely creating claims on the re

others a form of theft.Spending trillions of dollars trying t

fools errand Our hope lies not with th


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CHAPTER 1

LOOKING UPST


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with a strong focus on economic stimly on green jobs by far a more though

approach.

The real need, however, goes far b

money into the economy to alleviate thecredit squeeze. We need to rebuild the

tom up


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a failed economic system that takes no and environmental costs of monetary

responsibility.

We face a monumental economic ch

beyond anything being discussed in thecorporate press. The hardships impose

zen credit markets pale in comparison t


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clinics, without ever asking the obviousfew people enjoy effortless abundance

ers who work far harder experience ex

He summed it up with this simple stat

correct a problem without a theory abouitably treat only the symptoms. It is the

ness professors were drumming into m


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at all. A bad theory can lead us to false sthe actions that caused the problem in th

a bad theory or story can lead whole s

self-destructive behavior to the point of

The cultural historian Jared Diamoncolony on the coast of Greenland that

next to waters abundant with fish; it had


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REAL WEALTH

Real wealth has intrinsic, as contrasted

ue. Life, not money, is the measure of

The most important forms are beyounavailable for market purchase. Thes

h hild l i f ili i


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story, that eating fish was not civilizedscale, the human future is now in questi

be traced, in part, to economic theorie

row interests of a few and result in deva

for all.As we are perplexed by the behavio

perished because of their unwillingnes


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thousand child deaths daily from poveest country in the world, millions squee

class are all evidence of the monum

existing cultural stories and the institu

give rise. We have good reason to fear foAt first, each of the many disasters tha

distinct In fact they all have a commo


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it is about the cultural stories that shaues and the institutional systems that sh

with one another and with Earth. The re

the primary focus is on the United Stat

nomic values and institutions are somehave a powerful global influence

The justified public outrage again


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this material has been excerpt

Agenda for a New Econ

From Phantom Wealth to Re

by David KortenPublished by Berrett-Koehler Pu

Copyright 2008, All Rights ReFor more information, or to purcha

please visit our websitewww.bkconnection.com

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