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Agenda for a New Economy: From Phantom Wealth to Real Wealth Kindle Edition
by David C. Korten (Author)
4.1 out of 5 stars 37 customer reviews
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Review
“It’s time for a fundamentally new economic model—Agenda for a New Economy is a much-needed road map for those ready to get started.”
—Annie Leonard, author and host of The Story of Stuff
“At last, a book by one of our most brilliant economic thinkers that outlines the real causes of—and solutions to—the current economic crisis.”
—John Perkins, New York Times bestselling author of Confessions of an Economic Hit Man
“A thought-provoking, comprehensive, and readable reappraisal of the great economic and market challenge of our time.”
—David Brancaccio, PBS host
“Finally a bold Obama-era agenda that soars above the mild reforms that are grabbing daily headlines and actually meets the daunting challenges posed by the Wall Street and planetary crises.”
—John Cavanagh, Director, Institute for Policy Studies
“In this new edition of his groundbreaking book, David Korten steps up with a new, practical and energizing guide we all can use to transform today’s economic disaster into a Living Democracy.”
—Frances Moore Lappé, author of Getting a Grip 2 and Diet for a Small Planet
“What I love about this edition of Agenda for a new Economy is that David Korten brings together previously fragmented ideas about how to move forward into a compelling, cohesive framework for personal, community and government action. This book will get you from ‘yes, but how?’ to ‘yes, and here's how’. ”
—Alisa Gravitz, Executive Director, Green America
“David Korten has updated and strengthened an already timely and insightful book. No one has done a better job at bringing together the multiple crises—economic, environmental, social, political—in which we find ourselves today. His vision of the path forward is clear and compelling.”
—James Gustave Speth, Dean of the Yale School of Forestry and Environmental Science, former Administrator, United Nations Development Programme, and author of The Bridge at the Edge of the World
"At an urgent moment in human history, David Korten offers a new way to organize our economy that is both inspired and deeply practical. This is a must-read guide to creating a viable future."
—Stacy Mitchell, senior researcher, Institute for Local Self-Reliance; chair, American Independent Business Alliance; and author of Big Box Swindle
“Faith communities at their best help us see and believe in what is possible, and help us face inconvenient truths and uncomfortable realities. At their worst, faith communities kill dreams and reinforce fantasies. David Korten's new book can help all of us who lead and participate in faith communities to fulfill our best potential and stop playing to our worst. It's urgent, important, clear, and downright inspiring, and it challenges us to pursue what is excellent, mature, and real.”
—Brian McLaren, author of A New Kind of Christianity
“David Korten tells the truth like no one else—a truth our planet needs us to hear.”
—Marjorie Kelly, cofounder, Corporation 20/20; founding editor, Business Ethics magazine; and author of The Divine Right of Capital
“Korten turns conventional economic thinking upside down and inside out. This book reveals what is really going on in the U.S. and global economy—and what can and should be done about it."
—Van Jones, founder of Green for All and author of The Green Collar Economy
“Just as the global economy crumbles, David Korten’s timely plan for a new economy—a locally based living economy—will keep Spaceship Earth on a steady course, while bringing greater equality and strengthening our democratic institutions. And as if that were not enough, it will bring us more joy.”
—Judy Wicks, cofounder and chair, Business Alliance for Local Living Economies
“David Korten shows that patching the tires of a vehicle that’s going over a cliff is neither sane nor acceptable. But the financial crisis can be a healing crisis, and Korten gives us prescriptions that could actually give us a thriving and just economy that works for people and the planet.
—Vicki Robin, coauthor of Your Money or Your Life and cofounder, Conversation Cafes
“The most important book to emerge thus far on the economic crisis. David Korten provides real solutions.”
—Peter Barnes, cofounder, Working Assets, and author of Capitalism 3.0
“A great book. Korten provides solutions far beyond economics. If we care about the health, safety, education, and well-being of our society, and want to create a world with a semblance of social and economic equity, this book is the next big step in that direction.”
-- Peter Block, author of Community and Stewardship
“A stirring defense of life and liberty. Guided by the hand of Adam Smith, David Korten paints a spirited picture of a new economy: in bold strokes, from the Earth up, and for all the people. Obama watchers, take note—page after page, redesign trumps reform and shouts, ‘Yes, we can!’”
—Raffi Cavoukian, singer, author, entrepreneur, ecology advocate, and founder of Child Honoring
—Annie Leonard, author and host of The Story of Stuff
“At last, a book by one of our most brilliant economic thinkers that outlines the real causes of—and solutions to—the current economic crisis.”
—John Perkins, New York Times bestselling author of Confessions of an Economic Hit Man
“A thought-provoking, comprehensive, and readable reappraisal of the great economic and market challenge of our time.”
—David Brancaccio, PBS host
“Finally a bold Obama-era agenda that soars above the mild reforms that are grabbing daily headlines and actually meets the daunting challenges posed by the Wall Street and planetary crises.”
—John Cavanagh, Director, Institute for Policy Studies
“In this new edition of his groundbreaking book, David Korten steps up with a new, practical and energizing guide we all can use to transform today’s economic disaster into a Living Democracy.”
—Frances Moore Lappé, author of Getting a Grip 2 and Diet for a Small Planet
“What I love about this edition of Agenda for a new Economy is that David Korten brings together previously fragmented ideas about how to move forward into a compelling, cohesive framework for personal, community and government action. This book will get you from ‘yes, but how?’ to ‘yes, and here's how’. ”
—Alisa Gravitz, Executive Director, Green America
“David Korten has updated and strengthened an already timely and insightful book. No one has done a better job at bringing together the multiple crises—economic, environmental, social, political—in which we find ourselves today. His vision of the path forward is clear and compelling.”
—James Gustave Speth, Dean of the Yale School of Forestry and Environmental Science, former Administrator, United Nations Development Programme, and author of The Bridge at the Edge of the World
"At an urgent moment in human history, David Korten offers a new way to organize our economy that is both inspired and deeply practical. This is a must-read guide to creating a viable future."
—Stacy Mitchell, senior researcher, Institute for Local Self-Reliance; chair, American Independent Business Alliance; and author of Big Box Swindle
“Faith communities at their best help us see and believe in what is possible, and help us face inconvenient truths and uncomfortable realities. At their worst, faith communities kill dreams and reinforce fantasies. David Korten's new book can help all of us who lead and participate in faith communities to fulfill our best potential and stop playing to our worst. It's urgent, important, clear, and downright inspiring, and it challenges us to pursue what is excellent, mature, and real.”
—Brian McLaren, author of A New Kind of Christianity
“David Korten tells the truth like no one else—a truth our planet needs us to hear.”
—Marjorie Kelly, cofounder, Corporation 20/20; founding editor, Business Ethics magazine; and author of The Divine Right of Capital
“Korten turns conventional economic thinking upside down and inside out. This book reveals what is really going on in the U.S. and global economy—and what can and should be done about it."
—Van Jones, founder of Green for All and author of The Green Collar Economy
“Just as the global economy crumbles, David Korten’s timely plan for a new economy—a locally based living economy—will keep Spaceship Earth on a steady course, while bringing greater equality and strengthening our democratic institutions. And as if that were not enough, it will bring us more joy.”
—Judy Wicks, cofounder and chair, Business Alliance for Local Living Economies
“David Korten shows that patching the tires of a vehicle that’s going over a cliff is neither sane nor acceptable. But the financial crisis can be a healing crisis, and Korten gives us prescriptions that could actually give us a thriving and just economy that works for people and the planet.
—Vicki Robin, coauthor of Your Money or Your Life and cofounder, Conversation Cafes
“The most important book to emerge thus far on the economic crisis. David Korten provides real solutions.”
—Peter Barnes, cofounder, Working Assets, and author of Capitalism 3.0
“A great book. Korten provides solutions far beyond economics. If we care about the health, safety, education, and well-being of our society, and want to create a world with a semblance of social and economic equity, this book is the next big step in that direction.”
-- Peter Block, author of Community and Stewardship
“A stirring defense of life and liberty. Guided by the hand of Adam Smith, David Korten paints a spirited picture of a new economy: in bold strokes, from the Earth up, and for all the people. Obama watchers, take note—page after page, redesign trumps reform and shouts, ‘Yes, we can!’”
—Raffi Cavoukian, singer, author, entrepreneur, ecology advocate, and founder of Child Honoring
From the Publisher
A Declaration of Independence from Wall Street"At last, a book by one of our most brilliant economic thinkers that outlines the real causes of--and solutions to--the current economic crisis."
--John Perkins, New York Times bestselling author of Confessions of an Economic Hit Man
"The most important book to emerge thus far on the economic crisis."
--Peter Barnes, cofounder of Working Assets and author of Capitalism 3.0
"David Korten has provided an economic blueprint for the 21st century."
--Judy Wicks, cofounder and chair, Business Alliance for Local Living Economies
"No one should be surprised that David Korten is the first great thinker to assemble a detailed road map for a new economy where people, the planet, and communities come first."
--John Cavanagh, Director of the Institute for Policy Studies
--John Perkins, New York Times bestselling author of Confessions of an Economic Hit Man
"The most important book to emerge thus far on the economic crisis."
--Peter Barnes, cofounder of Working Assets and author of Capitalism 3.0
"David Korten has provided an economic blueprint for the 21st century."
--Judy Wicks, cofounder and chair, Business Alliance for Local Living Economies
"No one should be surprised that David Korten is the first great thinker to assemble a detailed road map for a new economy where people, the planet, and communities come first."
--John Cavanagh, Director of the Institute for Policy Studies
---------
The Great Turning: From Empire to Earth Community
David C. Korten
4.4 out of 5 stars 42
Kindle Edition1 offer from AUD 19.70
› Visit Amazon's David C. Korten Page
Follow
Biography
In addition to an active schedule of writing and speaking on global and national issues, I serve as president of the Living Economies Forum, chair of the board of YES! Magazine (yesmagazine.org), co-chair the New Economy Working Group (neweconomyworkinggroup.org), founding board member emeritus of the Business Alliance for Local Living Economies (bealocalist.org), and a member of the Club of Rome (clubofrome.org). I hold MBA and Ph.D. degrees from the Stanford Business School, taught at the Harvard Business School, served as a captain in the U.S. Air Force, and have 30 years experience as a development professional in Asia, Africa, and Latin America.
My books include the international best seller, When Corporations Rule the World (watch for the 20th anniversary edition to be released in June 2015): Change the Story, Change the Future: A Living Economy for a Living Earth; Agenda for a New Economy: From Phantom Wealth to Real Wealth; The Great Turning: From Empire to Earth Community; and The Post Corporate World: Life After Capitalism.
For more information and periodic updates, visit my website livingeconomiesforum.org. You can also follow me on Twitter - @dkorten - and Facebook.
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37 customer reviews
4.1 out of 5 stars
4.1 out of 5 stars
Showing 1-8 of 37 reviews
Top Reviews
D. Timothy Mccoy
5.0 out of 5 starsHope For a New EconomyMay 23, 2013
Format: PaperbackVerified Purchase
Capitalism has done what it's name suggests. However, while it has made many rich the book raises the harrowing question, at what cost. That it is the greatest option, possibly the only option is presented as a myth. It has produced great wealth for a few at the cost of the weak and the destruction of our planet. Greed, power and cancerous consumption have been some of it's outcomes. Korten makes a courageous and compelling argument for a better way, an alternative way. I felt it a massive thought in lieu of the power of capitalism. Building an economy, a society on the basis of enough, compassion and stewardship seems worth the effort if we are to survive. While capitalism works for some, it obviously does not for the majority. It is not designed to. "Trickle down" seems like bread crumbs do a dying person. We can do much better and Korten has some very cogent ideas for doing so.
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Larry G. Bierman
3.0 out of 5 starsWatch the on-line lecture and save your money.August 22, 2014
Format: PaperbackVerified Purchase
I was disappointed in this book. The first two-thirds is a sermon to the choir. What few suggestions there are to change the economy into something "new" do not inspire me. An Unconventional Guide to Investing in Troubled Time by Charles Hugh Smith has a more practical approach, ideas that can easily be put into practice. I am not sure what Korten expects me as an individual to do.
One person found this helpful
HelpfulComment Report abuse
R. Riley
5.0 out of 5 starsDirect Confrontation with our Economic System FailuresFebruary 18, 2011
Format: PaperbackVerified Purchase
This David Korten masterpiece is a marvelous, direct and hard-hitting confrontation of what our economic system has become (an assaulting force upon our common humanity and upon the biosphere upon which we depend for physical life together). This book is a good companion to another book of the same genre, "Right Relationship: Building a Whole Earth Economy," by Peter G Brown et al.
This second edition of "Agenda for a New Economy" takes us through the first year or more of President Obama's term in office and reveals how the predatory nature of our U.S.-style capitalism and Wall Street continues to operate - and he also proposes how that whole system could be changed so as to serve our people and others around the globe (in concert with other nations), instead of fostering of the accumulation of immense wealth by the relative few.
The Great Turning: From Empire to Earth Community
David C. Korten
4.4 out of 5 stars 42
Kindle Edition1 offer from AUD 19.70
› Visit Amazon's David C. Korten Page
Follow
Biography
In addition to an active schedule of writing and speaking on global and national issues, I serve as president of the Living Economies Forum, chair of the board of YES! Magazine (yesmagazine.org), co-chair the New Economy Working Group (neweconomyworkinggroup.org), founding board member emeritus of the Business Alliance for Local Living Economies (bealocalist.org), and a member of the Club of Rome (clubofrome.org). I hold MBA and Ph.D. degrees from the Stanford Business School, taught at the Harvard Business School, served as a captain in the U.S. Air Force, and have 30 years experience as a development professional in Asia, Africa, and Latin America.
My books include the international best seller, When Corporations Rule the World (watch for the 20th anniversary edition to be released in June 2015): Change the Story, Change the Future: A Living Economy for a Living Earth; Agenda for a New Economy: From Phantom Wealth to Real Wealth; The Great Turning: From Empire to Earth Community; and The Post Corporate World: Life After Capitalism.
For more information and periodic updates, visit my website livingeconomiesforum.org. You can also follow me on Twitter - @dkorten - and Facebook.
Show More
Ad feedback
37 customer reviews
4.1 out of 5 stars
4.1 out of 5 stars
Showing 1-8 of 37 reviews
Top Reviews
D. Timothy Mccoy
5.0 out of 5 starsHope For a New EconomyMay 23, 2013
Format: PaperbackVerified Purchase
Capitalism has done what it's name suggests. However, while it has made many rich the book raises the harrowing question, at what cost. That it is the greatest option, possibly the only option is presented as a myth. It has produced great wealth for a few at the cost of the weak and the destruction of our planet. Greed, power and cancerous consumption have been some of it's outcomes. Korten makes a courageous and compelling argument for a better way, an alternative way. I felt it a massive thought in lieu of the power of capitalism. Building an economy, a society on the basis of enough, compassion and stewardship seems worth the effort if we are to survive. While capitalism works for some, it obviously does not for the majority. It is not designed to. "Trickle down" seems like bread crumbs do a dying person. We can do much better and Korten has some very cogent ideas for doing so.
HelpfulComment Report abuse
Larry G. Bierman
3.0 out of 5 starsWatch the on-line lecture and save your money.August 22, 2014
Format: PaperbackVerified Purchase
I was disappointed in this book. The first two-thirds is a sermon to the choir. What few suggestions there are to change the economy into something "new" do not inspire me. An Unconventional Guide to Investing in Troubled Time by Charles Hugh Smith has a more practical approach, ideas that can easily be put into practice. I am not sure what Korten expects me as an individual to do.
One person found this helpful
HelpfulComment Report abuse
R. Riley
5.0 out of 5 starsDirect Confrontation with our Economic System FailuresFebruary 18, 2011
Format: PaperbackVerified Purchase
This David Korten masterpiece is a marvelous, direct and hard-hitting confrontation of what our economic system has become (an assaulting force upon our common humanity and upon the biosphere upon which we depend for physical life together). This book is a good companion to another book of the same genre, "Right Relationship: Building a Whole Earth Economy," by Peter G Brown et al.
This second edition of "Agenda for a New Economy" takes us through the first year or more of President Obama's term in office and reveals how the predatory nature of our U.S.-style capitalism and Wall Street continues to operate - and he also proposes how that whole system could be changed so as to serve our people and others around the globe (in concert with other nations), instead of fostering of the accumulation of immense wealth by the relative few.
David demonizes no individuals but just points out how the very nature of our system rewards greed and individualism and overlooks our true source of joy, which can only be realized in communion and in harmony with our natural environment.
David's life experience around the globe has revealed to him the destructive practices of our economic system here and around the world - but also has given him a more holistic viewpoint on life, the life given so freely to all of us.
Davids' assessment of our system's destructive nature is not unique - there are other authors who have made similar assessments - but it is relatively concise and very well articulated. His own set of solutions is one of several being offered by competent and informed experts. These various solutions serve as a good starting point (with those of others) for an informed, mobilized citizenry to rise and challenge "the way things are being done" on Wall Street and in Washington. To ignore the need for change is in my opinion to mark the demise of our society as we have known it. Kept unchecked, our form of capitalism's need for continuous growth and wealth centralization will lead to endless death and destruction. To accept his challenge to press for system change is to invest in one's own humanity and to recognize one's deepest connection to all others and to the created/creating Cosmos of which we are each part.
There is also a discussion guide for group study at this link:
[...]
I cannot recommend this book any more highly. I urge you to read it.
2 people found this helpful
HelpfulComment Report abuse
Profound Joy
5.0 out of 5 starsNew Economy To Match Our New World !July 22, 2011
Format: PaperbackVerified Purchase
The plane of Illusion is crumbling and this book give us concrete reasons why. Add to this the energy shift in the Universe and you will be opened up to true abundance and love. Human beings are powerful forces with intrinsic goodness. Love dissolves fear, greed and individualism. Love promotes co-operation and compassion. A New Golden Age is upon us!!!!
HelpfulComment Report abuse
R. P. Siegel
5.0 out of 5 starsAgenda for a New EconomySeptember 29, 2012
Format: Kindle EditionVerified Purchase
If I were to win the opportunity to have dinner with President Obama (through his campaign website), this would be the book I would give him and ask him to read. I have always been a huge fan of Korten. He sees things clearly and lays out the underlying pattern that explains so much of what is wrong with the world today, and then tells us how to fix it. If only our leaders had the courage to heed his advice, But they won't, so it will be up to "we the people" to lead the way if we are to have any hope of a brighter future for our children and grandchildren than the one we are looking at right now.
HelpfulComment Report abuse
FoxyDave
4.0 out of 5 starsThis Book Puts Capitalism in it's PlaceNovember 29, 2013
Format: Kindle EditionVerified Purchase
This book is really worth reading to help get a handle on how corrupt and dysfunctional the existing capitalist economy really is. Capitalism is often equated with freedom which is pure propaganda propagated by the current wealthy class in an attempt to keep everyone else is servitude while they consume at an enormous level using 'Phantom Wealth'.
HelpfulComment Report abuse
S Hudson
4.0 out of 5 starsnot badAugust 26, 2014
David's life experience around the globe has revealed to him the destructive practices of our economic system here and around the world - but also has given him a more holistic viewpoint on life, the life given so freely to all of us.
Davids' assessment of our system's destructive nature is not unique - there are other authors who have made similar assessments - but it is relatively concise and very well articulated. His own set of solutions is one of several being offered by competent and informed experts. These various solutions serve as a good starting point (with those of others) for an informed, mobilized citizenry to rise and challenge "the way things are being done" on Wall Street and in Washington. To ignore the need for change is in my opinion to mark the demise of our society as we have known it. Kept unchecked, our form of capitalism's need for continuous growth and wealth centralization will lead to endless death and destruction. To accept his challenge to press for system change is to invest in one's own humanity and to recognize one's deepest connection to all others and to the created/creating Cosmos of which we are each part.
There is also a discussion guide for group study at this link:
[...]
I cannot recommend this book any more highly. I urge you to read it.
2 people found this helpful
HelpfulComment Report abuse
Profound Joy
5.0 out of 5 starsNew Economy To Match Our New World !July 22, 2011
Format: PaperbackVerified Purchase
The plane of Illusion is crumbling and this book give us concrete reasons why. Add to this the energy shift in the Universe and you will be opened up to true abundance and love. Human beings are powerful forces with intrinsic goodness. Love dissolves fear, greed and individualism. Love promotes co-operation and compassion. A New Golden Age is upon us!!!!
HelpfulComment Report abuse
R. P. Siegel
5.0 out of 5 starsAgenda for a New EconomySeptember 29, 2012
Format: Kindle EditionVerified Purchase
If I were to win the opportunity to have dinner with President Obama (through his campaign website), this would be the book I would give him and ask him to read. I have always been a huge fan of Korten. He sees things clearly and lays out the underlying pattern that explains so much of what is wrong with the world today, and then tells us how to fix it. If only our leaders had the courage to heed his advice, But they won't, so it will be up to "we the people" to lead the way if we are to have any hope of a brighter future for our children and grandchildren than the one we are looking at right now.
HelpfulComment Report abuse
FoxyDave
4.0 out of 5 starsThis Book Puts Capitalism in it's PlaceNovember 29, 2013
Format: Kindle EditionVerified Purchase
This book is really worth reading to help get a handle on how corrupt and dysfunctional the existing capitalist economy really is. Capitalism is often equated with freedom which is pure propaganda propagated by the current wealthy class in an attempt to keep everyone else is servitude while they consume at an enormous level using 'Phantom Wealth'.
HelpfulComment Report abuse
S Hudson
4.0 out of 5 starsnot badAugust 26, 2014
Format: PaperbackVerified Purchase
The strength i remember from this book is the due credit it gives the New Deal for establishing American prosperity. This jibes with Putin's ideas in the great book Russian Populist by Matthew Johnson that a strong state is needed for prosperity.
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grt0106
5.0 out of 5 starsHow to Prevent a Tragic ResultSeptember 26, 2014
Format: PaperbackVerified Purchase
While "When Corporations Rule the World" described the tragic result if we do nothing, this book lays out a plan for preventing that result.
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Dec 23, 2013Mike rated it really liked it
Shelves: academic, politics, financial-business, social-issues
"Corrective action begins with a recognition that our economic crisis is, at its core, a moral crisis. Our economic institutions and rules, even the indicators by which we measure economic performance, consistently place financial values ahead of life values. They are brilliantly effective at making money for rich people. We have tried our experiment in unrestrained greed and individualism. Our children, families, communities, and natural systems of Earth are paying an intolerable price."
I agree with Korten that the abstraction of our economic system cannot exist outside of the physical limitations imposed by living on a finite world, so we might as well stop pretending. This is not to say that we can't have an economy based in money etc. but there must be a true value attached to that money. Setting unending growth as the framework to our economic system is a recipe for disaster. A system pitting people in isolation, competition, and fear of one another is a shame especially when as a species we excel at cooperation and creative problem solving. We cannot pretend that our actions, if they don't directly hurt us but hurt others have no effect on us. We must start to accept just how interconnected we are on this planet. My father believed Earth could provide more than enough for us of what we truly need. But, he wondered if we'd ever be wise enough to "reclaim Eden" as he called it, and "alleviate most human suffering" if we could just put our priorities in the right order (money isn't at the top of the list).
I liked his arguments that no matter how entrenched it can feel, institutions / cultural norms can crumble or change. We must think about what we want to replace them. For the same reason trickle down is bullshit, these systemic changes must come from the bottom up. Once politicians realize the populace is serious about environmental issues or creating an economy based on true value (quality of life value / sustainability), they will eventually fall in line. He makes a good point that left and right aren't necessarily as divided as you'd believe. For example, the majority of citizens see the Citizens United ruling (even Orwell would blush at this case's name) as the blatant democratically corrupting Pandora's box it is. People on the right generally blame the government and people on the left generally blame big business. The thing to realize currently is government and big business are essentially one in the same with power players switching roles in and out of each. With unifying understanding such as this, maybe the population can start to corner what the real problem is (big money people making their own rules regardless of the consequences on the rest of us).
And, he talks convincingly about the power of the story and the endurance of the story built with truth at its core. Truth will not die and with eventually trump whatever efforts are put forth to challenge it. Segregation was wrong. Separate but equal was wrong. The system was challenged and dismantled because in the end the truth was black people were human just like white people and therefore they could not be treated any differently. He makes a strong case for education and changing the cultural narrative with effective, authentic storytelling. (less)
I agree with Korten that the abstraction of our economic system cannot exist outside of the physical limitations imposed by living on a finite world, so we might as well stop pretending. This is not to say that we can't have an economy based in money etc. but there must be a true value attached to that money. Setting unending growth as the framework to our economic system is a recipe for disaster. A system pitting people in isolation, competition, and fear of one another is a shame especially when as a species we excel at cooperation and creative problem solving. We cannot pretend that our actions, if they don't directly hurt us but hurt others have no effect on us. We must start to accept just how interconnected we are on this planet. My father believed Earth could provide more than enough for us of what we truly need. But, he wondered if we'd ever be wise enough to "reclaim Eden" as he called it, and "alleviate most human suffering" if we could just put our priorities in the right order (money isn't at the top of the list).
I liked his arguments that no matter how entrenched it can feel, institutions / cultural norms can crumble or change. We must think about what we want to replace them. For the same reason trickle down is bullshit, these systemic changes must come from the bottom up. Once politicians realize the populace is serious about environmental issues or creating an economy based on true value (quality of life value / sustainability), they will eventually fall in line. He makes a good point that left and right aren't necessarily as divided as you'd believe. For example, the majority of citizens see the Citizens United ruling (even Orwell would blush at this case's name) as the blatant democratically corrupting Pandora's box it is. People on the right generally blame the government and people on the left generally blame big business. The thing to realize currently is government and big business are essentially one in the same with power players switching roles in and out of each. With unifying understanding such as this, maybe the population can start to corner what the real problem is (big money people making their own rules regardless of the consequences on the rest of us).
And, he talks convincingly about the power of the story and the endurance of the story built with truth at its core. Truth will not die and with eventually trump whatever efforts are put forth to challenge it. Segregation was wrong. Separate but equal was wrong. The system was challenged and dismantled because in the end the truth was black people were human just like white people and therefore they could not be treated any differently. He makes a strong case for education and changing the cultural narrative with effective, authentic storytelling. (less)
Dec 20, 2011Stacey rated it liked it
there have always been things i never quite got about the financial industry- like how a company could post $10 billion in earnings, but its stock prices would go down because it didn't make the $12 billion that had been predicted. it seemed more about whims than realities. or how inflation could be said to be only a few percent year after year, wages stayed low, and yet the cost of a movie ticket or a gallon of milk went up 300-400% in the same time. or what the value of money really was since it actually isn't tied to anything since coming off the gold standard. the book validated me in realizing that there wasn't anything i didn't "get." it fundamentally just doesn't make sense. what i liked about this book were the ideas of decentralizing banking/lending into local communities and generally bringing more control into communities. it is important to think about things like paying local businesses with cash so they can avoid large bank fees, shopping locally, and generally not living wastefully. i can also get behind ideas of universal health care and education, etc. though i did appreciate some historical views of the beginnings of imperialist industry and how that has carried forward to today, i admit that i skimmed through this in favor of getting to-- ok, and what do we do about it now. what i didn't like about this book is that it is too utopian for me. i don't think making all these changes is going to mean we live in a problem-free society, let's be realistic. also, i can't fully get behind what he was saying about intellectual property rights, caps on salaries (or a 90 percent tax over a certain salary), or extending retirement age (unless this is seriously balanced out with far increased vacation from what we have now!!). it did remind me to up my political activity and look again into investing in microlending, etc., so i got some good take aways from this. (less)
Nov 16, 2009Derek rated it it was amazing
Shelves: social-issues, non-fiction, economics, corporatism
Another great book by Korten. While his prior books that I've read deal with the corporate world generally, in this he focuses on the world of corporate finance and Wall Street. His observations on the disconnect between Wall Street and real wealth are insightful, and he shows how the Wall Street culture are directly tied to conventional free market ideology. His agenda for changing the financial landscape by disassembling Wall Street and turning to locally based economies in which finance is handled on a human-scale by community financial institutions is very compelling. Some of the peripheral ideas for reform are a little more debatable, and Korten does get a bit melodramatic in presenting his vision. But overall, a very timely and thoughtful read. (less)
Mar 04, 2016Donald Shank rated it it was amazing
Best economics book ever. Forget the proponents of endless growth and their planet devouring, exploitative insanity. David Korten presents a great outline of the future we actually face (assuming we reject the path to extinction)...a future with healthy communities, equality, sustainability and less work. Yes, it means having fewer material goods to use and discard, but in exchange you get the time to enjoy the things that really matter: family, friends, nature, art, literature, music, science, ...more
Jun 01, 2009Marti rated it it was amazing
I've read several books on the current economic crisis and this is the best by far. Korten clearly outlines how we got here but beyond that gives a clear blueprint for an alternative to a Wall-Street-based economy. That economy produces phantom wealth; the Main-Street-based economy he espouses produces real wealth from real resources to meet real needs - focusing on our children, our families, our communities, and our planet. Accessible and easily understood, clearly written, and brillant. encourage every American not only to read it but to act on it!I hope to. (less)
May 25, 2009Erin rated it liked it
Korten has some good (super idealist) ideas, but the book is a bit repetitive and somewhat preachy and, to some extent, kinda "New World-ly." Many of his ideas resonate or perfectly coincide with those of Tom Friedman in Hot, Flat, and Crowded... they should hang out. They'd pry. have some good conversations.
May 10, 2012TW Yeung rated it it was amazing · review of another edition
a true revolutionary book that not only demonstrates whats wrong with our economic model right now but envision the possible and potential changes we all can each contribute to to see to a sustainable economy, which henceforth creates a sustainable and stable community life! may piece find us all and that we all share the love and goods win one another.
This should be required reading for Americans. At times it's a little idealistic, but lofty ideas lead to important action. I highly recommend this book for anyone concerned about the unregulated financial system.
The more I learn about how Wall Street operates, the more angry I get. But Korten explains how we can change how our economy works, bringing control back to the local level, and he offers concrete solutions that actually work. This gives me hope!
Dec 22, 2010Dave Manning rated it really liked it
Certainly lays out some great values and priorities.
This book was really clarifying to me about a lot of economic terms and concepts that had been kind of fuzzy to me for a long time.
A good, quick read that I would recommend to anyone interested in making our world better and knows that economics has a lot to do with that.
A good, quick read that I would recommend to anyone interested in making our world better and knows that economics has a lot to do with that.
I was tasked with reviewing this book for the Democracy Unlimited national email newsletter, so I thought I would just copy that here:
Helping Create Real Economic Change:
David Korten's Agenda for a New Economy
We know our economy is sick. And we know that our current economic problems are closely connected to other systemic social problems: laws meant to serve elites; systems created to reward the hoarding of money; institutions and social values that fail to serve the people and planet. Not only has the recent economic crash shown the weakness of many of our country's systems, but it has made it clear that they were never designed to benefit the majority of us anyhow. Wall Street's gambling with non-existent assets was never meant to benefit the greater good, but rather, to create ever more clever ways to generate money that was never there.
David Korten has a name for this: “phantom wealth.” In his most recent book, Agenda for a New Economy: from Phantom Wealth to Real Wealth, he draws out with common-sense and clarity the difference between this phantom wealth and real wealth, that which is based on tangible goods and intangible human benefits – food, housing, education, human community. The money made on Wall Street is none of these. While money can be a tool for achieving real wealth, when made the end rather than the means it leads not to human health and prosperity but to the grotesque and crumbling spectacle currently known as our financial sector.
Korten's book is not merely another analysis of our problems, but a guide to solving those problems many of us are just beginning to understand. Because those currently in charge of 'fixing' the current economic mess are attempting to do only that – return the phantom wealth machine to its former activity, the activity which has given us drastic levels of inequality and a planet suffering from humanity's insatiable consumption. Korten asks a very basic question – why should we be fixing something that has never worked for us in the first place?
The sensible answer is that we shouldn't be. We should, instead, be using this moment to make a new economy, an economy in which those institutions in charge of our nation's money supply are not structured for private profit but for public good; in which our financial services serve the Main Street workers who create real wealth for all of us, not the Wall Street gamblers attempting to create phantom wealth for themselves.
Agenda for a New Economy is short and easily readable, perfect for the task it means to achieve: to help circulate ideas and solutions sorely lacking in our current public discourse. We urge you to read this book and to help it achieve that task by lending or giving it others. Help these ideas move, and move quickly. And take action on them! It is clear that the agenda of our national leaders is not the real change of our economic systems that is so direly needed, but a deeper commitment to previous policies of corporatized top-down economics antithetical to social justice and democracy alike.
We all need, and deserve, more than that. But as long as the only ideas dominating public discussion remain in the current Wall Street framework, that's all we'll get. Help change that by spreading the word about Agenda for a New Economy.
--> Order your copy now at http://www.100fires.com/cgi-bin/produ... .(less)
Helping Create Real Economic Change:
David Korten's Agenda for a New Economy
We know our economy is sick. And we know that our current economic problems are closely connected to other systemic social problems: laws meant to serve elites; systems created to reward the hoarding of money; institutions and social values that fail to serve the people and planet. Not only has the recent economic crash shown the weakness of many of our country's systems, but it has made it clear that they were never designed to benefit the majority of us anyhow. Wall Street's gambling with non-existent assets was never meant to benefit the greater good, but rather, to create ever more clever ways to generate money that was never there.
David Korten has a name for this: “phantom wealth.” In his most recent book, Agenda for a New Economy: from Phantom Wealth to Real Wealth, he draws out with common-sense and clarity the difference between this phantom wealth and real wealth, that which is based on tangible goods and intangible human benefits – food, housing, education, human community. The money made on Wall Street is none of these. While money can be a tool for achieving real wealth, when made the end rather than the means it leads not to human health and prosperity but to the grotesque and crumbling spectacle currently known as our financial sector.
Korten's book is not merely another analysis of our problems, but a guide to solving those problems many of us are just beginning to understand. Because those currently in charge of 'fixing' the current economic mess are attempting to do only that – return the phantom wealth machine to its former activity, the activity which has given us drastic levels of inequality and a planet suffering from humanity's insatiable consumption. Korten asks a very basic question – why should we be fixing something that has never worked for us in the first place?
The sensible answer is that we shouldn't be. We should, instead, be using this moment to make a new economy, an economy in which those institutions in charge of our nation's money supply are not structured for private profit but for public good; in which our financial services serve the Main Street workers who create real wealth for all of us, not the Wall Street gamblers attempting to create phantom wealth for themselves.
Agenda for a New Economy is short and easily readable, perfect for the task it means to achieve: to help circulate ideas and solutions sorely lacking in our current public discourse. We urge you to read this book and to help it achieve that task by lending or giving it others. Help these ideas move, and move quickly. And take action on them! It is clear that the agenda of our national leaders is not the real change of our economic systems that is so direly needed, but a deeper commitment to previous policies of corporatized top-down economics antithetical to social justice and democracy alike.
We all need, and deserve, more than that. But as long as the only ideas dominating public discussion remain in the current Wall Street framework, that's all we'll get. Help change that by spreading the word about Agenda for a New Economy.
--> Order your copy now at http://www.100fires.com/cgi-bin/produ... .(less)
Jan 27, 2013Lauren Sheil rated it really liked it
My list of favourit quotes;
If we look upstream for the ultimate cause of the economic crisis that is tearing so many lives apart, we find an illusion: the belief that money – a mere number created with a simply accounting entry that has no reality outside the human mind – is wealth. Because money represents a claim on so many things essential to our survival and well-being, we easily slip into evaluating economic performance in terms of the rate of financial return to money, essentially the rate at which money is growing, rather than by the economy’s contribution to the long-term well-being of people and nature. – David C. Korten; Agenda For A New Economy
Any chief executive of a Wall Street traded corporation that puts social or environmental considerations ahead of financial return will soon find himself cast out in disgrace through a revolt of institutional shareholders or a hostile takeover. – David C. Korten; Agenda For A New Economy
Under a socialist system, government consolidates power unto itself. Under a capitalist model, government falls captive to corporate interests and facilitates the consolidation of corporate power. – David C. Korten; Agenda For A New Economy
Efforts to fix Wall Street miss an important point. It can’t be fixed. It is corrupt beyond repair, and we cannot afford it. Moreover, because the essential functions it does perform are served better in less costly ways, we do not need it.
Walls street’s only business purpose is to enrich its own major players, a bunch of buccaneers and privateers who find it more profitable to expropriate the wealth of other than to find honest jobs producing goods and services beneficial to their communities. – David C. Korten; Agenda For A New Economy
Nothing in the design of the formal economic system allows those with little or no access to money even to give voice to their needs, much less fulfill them. They survive only by scratching out their living at the extreme margins of society, in informal or “underground” economies of their own creation. – David C. Korten; Agenda For A New Economy
We humans are awakening to the reality that we are living beings and that life, by its nature, can exist only in community. Our future depends on getting with the program and organizing our economies in ways that mimic healthy living systems. – David C. Korten; Agenda For A New Economy
We need an ethical money system that is accountable to the community and is driven by a commitment to serve those who are creating real wealth, and we need to cut off funding for swashbuckling privateers engaged in reckless get-rich-quick speculation that creates economic instability, results in a misallocation of real resources, and produces nothing of value in return. – David C. Korten; Agenda For A New Economy
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If we look upstream for the ultimate cause of the economic crisis that is tearing so many lives apart, we find an illusion: the belief that money – a mere number created with a simply accounting entry that has no reality outside the human mind – is wealth. Because money represents a claim on so many things essential to our survival and well-being, we easily slip into evaluating economic performance in terms of the rate of financial return to money, essentially the rate at which money is growing, rather than by the economy’s contribution to the long-term well-being of people and nature. – David C. Korten; Agenda For A New Economy
Any chief executive of a Wall Street traded corporation that puts social or environmental considerations ahead of financial return will soon find himself cast out in disgrace through a revolt of institutional shareholders or a hostile takeover. – David C. Korten; Agenda For A New Economy
Under a socialist system, government consolidates power unto itself. Under a capitalist model, government falls captive to corporate interests and facilitates the consolidation of corporate power. – David C. Korten; Agenda For A New Economy
Efforts to fix Wall Street miss an important point. It can’t be fixed. It is corrupt beyond repair, and we cannot afford it. Moreover, because the essential functions it does perform are served better in less costly ways, we do not need it.
Walls street’s only business purpose is to enrich its own major players, a bunch of buccaneers and privateers who find it more profitable to expropriate the wealth of other than to find honest jobs producing goods and services beneficial to their communities. – David C. Korten; Agenda For A New Economy
Nothing in the design of the formal economic system allows those with little or no access to money even to give voice to their needs, much less fulfill them. They survive only by scratching out their living at the extreme margins of society, in informal or “underground” economies of their own creation. – David C. Korten; Agenda For A New Economy
We humans are awakening to the reality that we are living beings and that life, by its nature, can exist only in community. Our future depends on getting with the program and organizing our economies in ways that mimic healthy living systems. – David C. Korten; Agenda For A New Economy
We need an ethical money system that is accountable to the community and is driven by a commitment to serve those who are creating real wealth, and we need to cut off funding for swashbuckling privateers engaged in reckless get-rich-quick speculation that creates economic instability, results in a misallocation of real resources, and produces nothing of value in return. – David C. Korten; Agenda For A New Economy
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We can hope for relief from the economic slavery wrought on us by Wall St and its pervasive global financial money system, according to Korten. But as you would expect for a book with such an inciting title, the solutions will be neither welcome nor easy.
What Korten has to say makes sense to me and I found his style educational. The competitive idea of Wall St vs Main St works for me and he uses this to good effect in the structure of the early part of the book. I like the way he expresses the contrast of money vs wealth and he raises concerns I had not though about (private ownership of the radio spectrum).
It is a convenient read, but I felt in places there were disruptive breaks in the historical storyline and threads of reasoning. He says a little about the problems and risks of the new agenda, such as the potential abuse of financial power if it is placed entirely under government control, but I would prefer more balance in this direction. The assertion that the mechanism of Wall St finance is largely responsible for much of our current social, community, health and environmental problems is made several times but I didn't feel these claims were warranted or necessary in this book, unless further evidence was included. A warning bell went off for me when strong language was used without supporting facts (e.g. 'deadly', 'decimation', 'devastation').
Nevertheless I found the case against Wall St convincing.
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What Korten has to say makes sense to me and I found his style educational. The competitive idea of Wall St vs Main St works for me and he uses this to good effect in the structure of the early part of the book. I like the way he expresses the contrast of money vs wealth and he raises concerns I had not though about (private ownership of the radio spectrum).
It is a convenient read, but I felt in places there were disruptive breaks in the historical storyline and threads of reasoning. He says a little about the problems and risks of the new agenda, such as the potential abuse of financial power if it is placed entirely under government control, but I would prefer more balance in this direction. The assertion that the mechanism of Wall St finance is largely responsible for much of our current social, community, health and environmental problems is made several times but I didn't feel these claims were warranted or necessary in this book, unless further evidence was included. A warning bell went off for me when strong language was used without supporting facts (e.g. 'deadly', 'decimation', 'devastation').
Nevertheless I found the case against Wall St convincing.
(less)
Apr 26, 2009ProgressiveBookClub rated it it was amazing
An economic blueprint for the twenty-first century that puts Main Street—not Wall Street—at the center of our economy.
Today's economic crisis is the worst since the Great Depression. And yet, as David C. Korten shows, the steps being taken to address it are merely tinkering at the margins and do nothing to deal with the fundamental reality that our economic system has failed.
Korten (When Corporations Rule the World) identifies the deeper sources of the failure: Wall Street institutions that have perfected the art of creating "wealth" without producing anything of real value. Call it phantom wealth.
Our hope lies not with Wall Street, Korten argues (one of the sections of the book is titled "The Case for Eliminating Wall Street"), but with Main Street, which creates real wealth from real resources to meet real needs. He outlines an agenda to create a new "real-wealth" economy—locally based, community oriented, and devoted to creating a better life for all, not simply increasing profits.
Korten's vision will require changes to how we measure economic success, organize our financial system, even the very way we create money, an agenda Korten summarizes in his version of the economic address to the nation he wishes Barack Obama were able to deliver.
To learn more, visit The Progressive Book Club:http://www.progressivebookclub.com/pb... (less)
Today's economic crisis is the worst since the Great Depression. And yet, as David C. Korten shows, the steps being taken to address it are merely tinkering at the margins and do nothing to deal with the fundamental reality that our economic system has failed.
Korten (When Corporations Rule the World) identifies the deeper sources of the failure: Wall Street institutions that have perfected the art of creating "wealth" without producing anything of real value. Call it phantom wealth.
Our hope lies not with Wall Street, Korten argues (one of the sections of the book is titled "The Case for Eliminating Wall Street"), but with Main Street, which creates real wealth from real resources to meet real needs. He outlines an agenda to create a new "real-wealth" economy—locally based, community oriented, and devoted to creating a better life for all, not simply increasing profits.
Korten's vision will require changes to how we measure economic success, organize our financial system, even the very way we create money, an agenda Korten summarizes in his version of the economic address to the nation he wishes Barack Obama were able to deliver.
To learn more, visit The Progressive Book Club:http://www.progressivebookclub.com/pb... (less)
If you wanted to hate Wall St more, this is the book for you. Korten defines "capitalism" as specifically the system of securities trading which has nothing to do with production of things of value and everything to do with creating money by giving out loans and spending those credits on massive day trading. In his view, capitalism is not main street economies where individuals make and sell goods. That, he says, is not just essential but ideal. It's capitalism that consumes rabidly and is a ponzi scheme that we will all eventually lose.
There are specific recommendations for how to shift the economy out of this ponzi scheme and begin to support actual wealth creation.
This is the Green vision for a restructured economy. And it contains some hard truths. Like the unsustainable expectation for a 20 year vacation at the end of one's life. Or the unreasonable belief that money sitting around should grow more money. (less)
There are specific recommendations for how to shift the economy out of this ponzi scheme and begin to support actual wealth creation.
This is the Green vision for a restructured economy. And it contains some hard truths. Like the unsustainable expectation for a 20 year vacation at the end of one's life. Or the unreasonable belief that money sitting around should grow more money. (less)
Dec 12, 2010Brian rated it liked it
I keep hoping I'll find the book that lays out the perfect strategy for replacing the current system with one that actually serves people... Korten's book comes close--there are some very clear explanations of what's wrong with Capitalism as it is currently constituted, with the use of some helpful cover terms, like "phantom wealth" (vs. "real wealth"), and the notion of changing the story. I like the move toward localized, sustainable economies (in line with the food and environmental movements). I'm not sure the Wall Street vs. Main Street works well any longer, since the right wing fringe elements of the Tea Party have coopted that one, but there are some good generalities in the book, as well as a fairly useful checklist of "what can I do"s at the end. This approach will help move people who are afraid of socialism away from what is at the core of capitalism without feeling like they're signing themselves over to totalitarianism. (Sounds like anarchism at its best to me.) (less)
The author seems very qualified, the writing was vibrant and colorful, and I think I agree with his primary argument. But I think I wanted a book that would explain how to rebuild the American economy on rational principles. This book read more like a very long op-ed piece on why to restructure the economy. I think that the author could have made a strong argument that a "Main Street economy" (while supporting human values instead of shareholder profit) is the most financially sound approach the current economic crisis. This was implied in the book, but the focus was on the ideal society a Main Street economy would support. So instead of reading like an informative book on rethinking economic principles, it read like a financial version of Ecotopia. Which is probably what the author meant to do, but wasn't what I was looking for. (less)
Jan 12, 2010Susan Lausell rated it really liked it
The first half reviews our economic meltdown, which you may want to skim over if you've read enough about the topic. The second half is the agenda for the new economy which is refreshingly sane and simple. Thankfully, Korten doesn't proposed a detailed plan, just the conceptual framework. I delight that at least a conversation exists for old school, simple, sensible economics without the 3 card monty, "you don't know what's real" economics we have come to.
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