Elinor Ostrom the only woman to win a Nobel for #Economics was born today 7th August 1933, she worked on commons ownership, deep democracy and tackling #ClimateChange. Here are her rules for radicals:
The Value of Everything - talk by Mariana Mazzucato
How trickle down actually works…
The market cap of the top 5 S&P 500 companies: $4,095,058,706,432
The market cap of the bottom 282 S&P 500 companies: $4,092,769,755,136
Economy for the Common Good: https://en.wikipedia.org/wiki/Economy_for_the_Common_Good
Economy for the Common Good is a social movement advocating for an alternative economic model. It calls for working towards the common good and cooperation instead of profit-orientation and competition which lead to greed and uncontrolled growth. It makes much more sense for companies to create a so-called "common good balance sheet" than a financial balance sheet. The common good balance sheet shows the extent to which a company abides by values like human dignity, solidarity and economic sustainability.
"Code Now. Pay Tuition Later. Coding schools are offering free classes in exchange for a percentage of future income. But at what cost?" - @lindsaygellman reports: https://www.theatlantic.com/education/archive/2018/06/an-alternative-to-student-loan-debt/563093/ via @nikete #Economics
A Fintech Lexicon from the comments section of the FT
"An Examination of the Ecological and Social Problems Caused by the Predominant Economic System and Possible Alternative Business Models for a More Sustainable and Equitable Future" - Master’s Thesis of Matthew Noble Spruell: https://sozialeoekonomie.org/wp-content/uploads/wissensgrundlagen/2016-09_Examination-of-Ecological-and-Social-Problems_Matthew-Noble-Spruell.pdf
Beyond Sustainability: The Story of a Reformed Capitalist. Six regenerative principles
Six Principles for a regenerative enterprise:
1. Invests in Regenerative Assets.
2. Contributes to Communities.
3. Collaborate before Competing.
4. Competes Constructively.
5. Crafts lasting products delivers remarkable services
6. People, Planets, Profits. In that order.
Regenerative Design: [Re] Design emulates healthy, productive ecological systems to create human systems which increasingly flourish over time.
The brewing revolution in "Computational Economics" is backwards & dangerous: The basic premiss: "If we have a 'perfect' simulation of the world, based on *total* surveillance of everything, "we" can optimise economy, society & psychology with A.I's - and all will be better".
"Radical Markets: Uprooting Capitalism & Democracy for a Just Society" - talk by Glen Weyl (Microsoft) at Google, Moderated by Hal Varian (chief economist at Google)
In Doughnut economics by Kate Raworth, we see that markets are inefficient and growth is not the holy grail. It's time for a new economics model: the doughnut economics. Kate Raworth's plea for the 'doughnut economics' casts doubt on the credo of economic growth for sustainability: there are hard limits to what you can do to the planet. Kate Raworth's doughnut economics could change our future. Let's have a look.
Book: Doughnut Economics: https://www.amazon.com/Doughnut-Economics-Seven-21st-Century-Economist/dp/1603587969/
'Regenerative capitalism' and the new bottom line:
The Regenerative Framework & White Paper:
Regenerative Enterprise: http://www.regenterprise.com/
Co-creating the Regenerative Economy: http://capitalinstitute.org/
In his new white paper, Fullerton described eight principles that would govern a regenerative economy:
1. In right relationship. “The current system is exactly inverted from the way it has to be,” Fullerton pointed out. “There is no such thing as environmental issues. We are part of the environment.”
2. Holistic wealth. “Money is not wealth,” Fullerton observed.
3. Adaptive management.
4. Empowered participation.
5. Honors community and place. (As poet Wendell Berry wrote, “There are no unsacred places; only sacred places and desecrated places.”)
6. Edge effect abundance.
7. Robust circulatory flow.
8. System balance.
“My suggestion is simple,” Fullerton said. “Align our economy with these eight principles instead of the relentless pursuit at all costs of GDP growth and shareholder value.”
From Sustainability to Social Impact and Regeneration – New Rules for New Business
A Conversation With Hal Varian, Chief Economist at Google. A truly fascinating glimpse into the logic behind Google. This talk is a bizarre mix of somewhat interesting and rather boring. I'm ultimately disappointed at the naive, at times crass over-simplistic worldview outlined here - all using smart sounding concepts, of course.
"You want to focus on skills that complement, that which inevitability is becoming abundant" ~ @nikete channelling @halvarian
"It used to be gardeners you would have to do now different plants and what characteristic those plants had - well that's gone away to. Now thats low-level jobs. They have been augmented by machines"