where’s the beef? on moving wall street to main street

meltdown

Main Street is 'ground zero' in the financial meltdown, says Dave Korten, and the "Wall Street casino" should be replaced by an economic engine that supports local economies (via huffingtonpost).

This is crucial because sustainability is a place-based science, and sustainability will be achieved place by place.

So, Main Street is also the frontline in our efforts to transition toward sustainability. This is where we'll need all the financial and social resources we can muster.

Instead of "phantom wealth" that doesn't create anything of value, let's prioritize the real economy, says Korten. And, he’s got specific proposals for doing this.

In Korten's "real-wealth economy", government and citizen groups work to reallocate resources:

Korten calls for creating a new set of rules and incentives that favor human-scale businesses owned by local stakeholders.

This means democratizing ownership and reclaiming corporate charters from footloose global firms, says Korten.

Oh, and, Korten knows that these solutions work best if they are coordinated across communities and countries.

Says John Cavanagh of the Institute for Policy Studies, "All who are ready for a new approach would do well to spend a few hours with David Korten's big ideas as they link their work with one another."

Wot he said...

Published by Ken on March 26th, 2009 tagged Community Initiatives, Island Vulnerabilities

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