Insight and inspiration in turbulent times.
Transnational corporations, the engines of global capitalism, have become the target of efforts to create an economic system both socially just and environmentally sustainable. The unprecedented power and impact of these leviathans on society and ecology raises critical questions: What is corporate purpose? To whom should corporations be held accountable? And how, in fact, can that be accomplished?
As a long-time proponent of basic income, and as someone who has been involved in pilots in four continents, the past year has been a roller coaster, perhaps summarised as two steps forward, one step back, with marks for progress as six out of 10. It will take acts of courage to move forward decisively in 2019, but more doors are opening.
In my book, Doughnut Economics: Seven Ways to Think Like a 21st Century Economist, I try to reframe economics through the power of images. The diagrams that we draw profoundly shape our thinking. If we’re going to thrive in the twenty-first century, and if economists are going to be helpful in doing so, we need to rename and redraw the economy.
When patterns are expressed in a succinct form — as in “Ritualize Togetherness” and “Practice Gentle Reciprocity” — the phrase sounds like a principle. But patterns and principles are not the same. Each points to a different way of understanding the world and bringing about social change.
It’s often said that the economic system is rigged. The truth, however, is that the system is working exactly as it was designed to. Those in power, whether they hold public office or whether they sit in the boardroom of a multi-billion dollar international corporation, have taken great lengths to set up a system of rules that benefit them and maintain the status quo.
The Green New Deal requires a LOT of money, amounts that now look politically impossible. Why is money so scarce? Why is there never enough to meet our needs?
The work on progress indicators is all well and good, especially in challenging the political priority given to GDP. However, over the years I have grown more sceptical of the possibility of measuring, accurately and fully, the state of nations and the wellbeing of their people.
The Bank of North Dakota has fostered a tradition of public sector banking since it was founded in 1919 – the same year incidentally that Neville Chamberlain launched the Birmingham Municipal Savings Bank, which – before it was subsumed into the TSB – and subsequent loss of mutual status, had more than sixty branches around the city.
In his recent book, Plunder of the Commons: A Manifesto for Sharing Public Wealth, Guy Standing, an economist at SOAS in London, brings together both end-points of this history. The focus is on enclosures, but the point of the book, its manifesto, is to reclaim the commons, chiefly understood, in this context, as public assets and services.
But if we plan to reduce our consumption before it happens to us, if we plan to have more time and human energy to give away rather than sell, the impact is softened. If we direct our focus towards making connections and building resilience, and away from making money and buying things, we will all be better off than we otherwise would have been.
The Arts, Culture and Commoning working group is interested in using commons-based approaches “to transform the landscape of arts and culture toward equity, abundance, and interdependence as part of a social movement engaged in and in conversation with this urgent moment. Cooperation, collaboration, mutuality, and co-creation bring us together.”
Now we were planting the seeds of a different kind of trade. A different kind of economy. One built on the mutual trust of nature and human. An interdependent relationship woven with seeds and soil, water and sweat. One founded on the ecological processes of life, not the profit margins of an economic system of death. We built gardens and we healed the land that week. We sang and linked arms and we shut down empire together. We cried, we planted, and we stood our ground for a thriving world; and the seeds of change took root.
