David Korten's Blog
David Korten is co-founder and board chair of YES! Magazine and author of Agenda for a New Economy, The Great Turning, and When Corporations Rule the World.
Time to declare our independence from Wall Street.
Wall Street is bankrupt. Instead of trying to save it, we can build a new economy that puts money and business in the service of people and the planet—not the other way around.
Major responsibility for the financial collapse rests with the deregulation process that allowed for the consolidation of banking power in the hands of Wall Street. Reversing that process should be an immediate priority.
Agenda for a New Economy: From Phantom Wealth to Real Wealth outlines an agenda to bring into being a new economy—locally based, community oriented, and devoted to creating a better life for all, not simply increasing profits.
Trying to solve this crisis with the same tools that created it is the definition of insanity.
Main Street is the world of local businesses and working people engaged in producing and exchanging real goods and services—a world of real wealth. Wall Street as it now exists is a world of pure money in which the sole game is to use money to make money for people who have money.
The good news: The changes we must make to avoid ultimate collapse are identical to the changes we must make to create the world of our common dream.
We humans have arrived at a defining moment. We must bring ourselves into balance with one another and Earth or suffer the consequences of social and environmental collapse. It creates a unique opportunity for bold action to end war as an instrument of foreign policy, dismantle the military establishment, and create a world that works for all.