The proper goal of an economic democracy agenda is to replace the global suicide economy ruled by rapacious and unaccountable global corporations with a planetary system of local living economies comprised of human-scale enterprise rooted in the communities they serve and locally owned by the people whose wellbeing depends on them.
Interpretation
The quote advocates for a shift from global corporate dominance to local economies that prioritize community well-being.
David Korten's quote emphasizes the need for an economic system that values local enterprises over large, unaccountable corporations. It argues for the establishment of a 'living economy' that serves the community's needs, is owned by its members, and promotes sustainability and well-being, in contrast to a detrimental global economy that harms people and the planet.
In practice
This quote can be used in a speech about promoting local businesses during an economic summit.
When the institutions of money rule the world, it is perhaps inevitable that the interests of money will take precedence over the interests of people. What we are experiencing might best be described as a case of money colonizing life. To accept this absurd distortion of human institutions and purpose should be considered nothing less than an act of collective, suicidal insanity.
We can have democracy and a prosperous, just, and sustainable human future. Or we can have corporate rule. We cannot have both.
In a world of increasing inequality, the legitimacy of institutions that give precedence to the property rights of 'the Haves' over the human rights of 'the Have Nots' is inevitably called into serious question.
As corporations gain in autonomous institutional power and be-come more detached from people and place, the human interest and the corporate interest increasingly diverge. It is almost as though we were being invaded by alien beings intent on colonizing our planet, reducing us to serfs, and then excluding as many of us as possible.
Capitalism and the market are presented as synonymous, but they are not. Capitalism is both the enemy of the market and democracy.
Living capital, which has the special capacity to continuously regenerate itself, is ultimately the source of all real wealth. To destroy it for money, a simple number with no intrinsic value, is an act of collective insanity - which makes capitalism a mental, as well as physical pathology.
We have designed a capitalist system wrong. We assume human beings are one-dimensional, all they do is make money, so we've created a money-centric world.
The modern corporation must manufacture not only goods but the desire for the goods it manufactures.
We will not have any more crashes in our time.
The first step to prescribing the right medicine is to recognize the cause of the illness. And, when it comes to what is ailing the global economy, extreme monetary easing has been more cause than cure. The sooner we recognize that, the stronger and more sustainable the global economic recovery will be.
If you followed this economic crisis and you do not think that the world is getting flatter, you are not paying attention. We saw the entire global economy at one time acting totally in sync. The real truth is the world is even flatter than I thought. Our mortgage crisis is killing Deutsche Bank. You still don't think the world is flat?
We ought to be opening up our borders to skilled labour from all parts of the world because [the state of the world is as follows: ] if we were to do that we would increase the supply of skilled workers that our schools have been unable to create and as a consequence of that we would lower the average wage of skills and reduce the degree of income inequality in this country.
Subscribe for the occasional hand-picked quote. No noise.