William Greider talks about a new moral order for capitalism, drawing from his new book [amazon-product text=”COME HOME, AMERICA: The Rise and Fall (and Redeeming Promise) of Our Country” type=”text”]1594868166[/amazon-product]. And in the Sea Change ViewPoint, Hazel Henderson of Ethical Markets Media predicts the rise of “new financiers” whose prime currency is information, not money.
As icecaps and global markets melt down, localism is rising up as a solution to our ecological and economic crises. United for a Fair Economy and Class Action, two national nonprofits based in Massachusetts that address the inequitable distribution of resources, are sponsoring a workshop entitled “Building a Local Economy that Works for All.” Today, we speak with Class Action Executive Director and United for a Fair Economy co-founder Felice Yeskel, and current United for a Fair Economy Board Chair Prakash Laufer about how the workshop weaves together economic, social, class, and environmental solutions to build a local sustainable economy. We at CWR have spoken with Felice in the past about her book, Economic Apartheid in America. Prakash is former CEO of Motherwear, a catalog company providing clothing for breastfeeding mothers that he co-founded in part on the principles of PROUT, or progressive utilization theory, which envisions a post-capitalist economy that is sustainable and just.
“Barack Obama — a Sustainable President?”
—The Carbon Footprint of Obama’s Campaign
—Obama May Put Renewable-Energy Plan Ahead of Climate Package
—Obama’s potential green team
On September 26, 2008, Nicolas Sarkozy,president of France and the European Union, said, “we must rethink the financial system from scratch, as at Bretton Woods.” On October 22, US President George Bush announced that Bretton Woods II, as it was called, would be held in Washington DC on November 15. The new summit seeks to fix the broken economic order created at the summit of world leaders held in a small New Hampshire ski town as World War II wound down. In today’s ViewPoint, we speak with Hazel Henderson of Ethical Markets about her recent CSRwire commentary, “Advice for Summitteers on Reforming the Global Casino.” This continues our series with Hazel commenting on the market meltdown.
You could see the global market meltdown coming a mile away, according to futurist Hazel Henderson of Ethical Markets. She’s been identifying fatal flaws in the global economy, and sustainable alternatives, for three decades. Her most recent commentary on CSRwire critiques the “fractional reserve banking system,” which allows banks to lend 10 times the amount of money they actually have in reserves. In other words, money for nothing. Today, CWR co-hosts Bill Baue and Francesca Rheannon speak with Henderson about using the financial crisis as an opportunity to shift to a more sustainable economy.
The market meltdown is spurring an urgent response from Congress, with both houses debating and revising versions of the Troubled Asset Relief Program (TARP) bill on an hourly basis. The bill revises the President’s proposed bailout of financial institutions, which some call “Cash for Trash.” CWR co-hosts Francesca Rheannon and Bill Baue interview US Representative (D-MA) Barney Frank, chair of the House Financial Services Committee that is now ushering the Troubled Asset Relief Program bill, or TARP, through Congress. While many question whether this bailout is the best path out of the market meltdown, others are proposing a road to recovery paved in green. Bob Pollin of the Political Economy Research Institute co-authored a report on the Green Recovery that was released last week with the Center for American Progress. Francesca and Bill interviewed him here at the University of Massachusetts in Amherst the day after he testified before the House Select Committee on Energy Independence and Global Warming at a hearing entitled “The Green Road to Economic Recovery.”
CWR ViewPoint: read
Commentary from futurist Hazel Henderson of Ethical Markets on the market meltdown called Chicago Boys’ Curse Comes Home to Wall Street.
In this special preview edition of this week’s show, CWR co-hosts Francesca Rheannon and Bill Baue interview US Representative (D-MA) Barney Frank, chair of the House Financial Services Committee that is now ushering the Troubled Asset Relief Program bill, or TARP, through Congress. The bill revises the President’s proposed bailout of financial institutions to the tune of $1 trillion, which has been labeled “Cash for Trash.” The bill is changing practically by the hour, and we caught Rep Frank today as the bill makes its way toward debate in Congress.
Check back and tune in Wednesday for the full show, which will include this interview, as well as a conversation with Bob Pollin of the Political Economy Research Institute at the University of Massachusetts in Amherst in his new Green Recovery report, and the CWR ViewPoint from futurist Hazel Henderson of Ethical Markets on the market meltdown.
Renowned Futurist Hazel Henderson discusses her new book, Ethical Markets: Growing the Green Economy, and the paradigm shift from our current economy measured in Gross Domestic Product to a new, sustainable economy measured by such yardsticks as the Buddhist country of Bhutan’s Gross National Happiness or Henderson’s own “love economy.” Francesca Rheannon and Bill Baue co-host.