David Korten: What economic transformation has to do with building stronger, happier communities

[marmar]

from YES! Magazine:



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David Brancaccio: So if you’re trying to figure out what values an economy or a financial system is displaying, you have a theory about where to look to see where the center of power of the economy is rooted. Tell me about that idea.

David Korten: The current system is organized around financial values over life values. We need to shift that locus of power down to the community level because the financial markets recognize only money and thereby only financial values. If you’re living in the community and you own your local businesses and you’re engaged in the local economy you have a definite interest in the strength and health of your community, the caring relationships that bind people together. And you have an inherent interest in the health of your environment. So there’s a natural connection between how you make your financial decisions, how you operate your enterprise, and the broader public interest—none of which exists when the power resides in Wall Street.

DB: That’s what they’re trying in Bellingham, Washington aren’t they?

DK: That’s exactly what they’re trying in Bellingham, Washington. And it’s very interesting, this drive to rebuild local economies. When we first started organizing the Business Alliance for Local Living Economies, so many people responded, "Oh, you’re talking about rebuilding community." You know, I hadn’t thought about it that way but bingo, that is exactly what they’re doing. It’s part of recognizing that your community economy is part of the glue that brings people together. And part of what I love about Bellingham is when you visit there you see the joy of the people as they participate in the economy. And best of all if you go there when they’re having one of their street parties, it is just amazing. I think one of the most important skills of a local organizer of a local economy is an ability to put on a terrific street party.

DB: But you’re making a serious point, right, that this is not the hair shirt approach to running an economy. You’re not asking people to desperately sacrifice.

DK: That’s exactly right. It’s truly amazing that the changes we have to make if we’re going to have a human future are exactly the same changes we need to make to create the world that most people have dreamed of for millennia—create an economy that brings prosperity to everyone. An economy supports strong families, strong communities, and a healthy natural environment. And that is exactly what is being created in these local economies. It is the key not only to survival but also, quite literally, to our physical and mental health and happiness. ............(more)

The complete piece is at: http://www.yesmagazine.org/new-economy/building-community-an-economic-approach