Category Archives: Economic Justice

Change the Goal – Doughnut Economics

YES Magazine

David Korten

I see a lot of books presuming to explain what’s wrong with the economy and what to do about it. Rarely do I come across one with the consistent new paradigm frame, historical depth, practical sensibility, systemic analysis, and readability of Doughnut Economics by Kate Raworth. Especially unique and valuable is her carefully reasoned, illustrated, and documented debunking of the fatally flawed theory behind economic policies that drive financial instability, environmental collapse, poverty, and extreme inequality.

Doughnut Economics opens with the story of an Oxford University student. Recognizing the inseparable connection between the economy and the environmental and social issues of our time, she did what many students with such concerns do. She signed up for an economics major hoping to learn how she might contribute to creating a better world.

What she learned instead is that the theory taught in textbook economics is hopelessly simplistic and largely irrelevant to her concerns—and to those of many of her fellow students. Rather than just shift to a more relevant major, however, she started what has become a spreading global student movement demanding reform of university economics curricula.

On a fast track to becoming one of the world’s most influential economists, Raworth has produced a book that more than validates the reasons for the student revolt. She fills in yawning gaps in current textbook economic theory to make the connections for which these students—and many of the rest of us—are looking. More

New South African alliance calls for Zuma’s exit

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Sister Brigid Rose Tiernan, SNDdeN holds the sign — “Zuma you are accountable.” Photo: Joan Mumau, IHM

AFP

Johannesburg (AFP) – South African opposition parties, religious groups and civil society activists on Thursday launched a new alliance to try to force President Jacob Zuma to step down.

Called the Freedom Movement and backed by retired archbishop Desmond Tutu, it plans to hold a mass rally on April 27, the annual holiday marking South Africa’s first post-apartheid election in 1994.

Zuma’s sacking of respected finance minister Pravin Gordhan last month fanned years of public anger over government corruption scandals, record unemployment and slowing economic growth.

“Never before has there been a more urgent need to build unity of purpose to stop South Africa’s current trajectory,” said the movement at its launch in Soweto, a hotbed of the struggle against apartheid.

Tutu, seen as the country’s leading moral authority, said in a tweet that he supported the movement, adding “it is important that we unite as South Africans to bring an end to state capture.”

“State capture” is a term that refer to the alleged corruption among Zuma and his associates.

Tens of thousands of South Africans have in recent weeks staged demonstrations demanding Zuma’s resignation.

The main opposition Democratic Alliance party and several small opposition parties backed the alliance as well as some trade unions and the National Religious Council.

Campaigns End on Election Day. Revolutions Don’t.

Common Dreams
Jim Hightower

The fervent prayer of old-line Democratic operatives and corporate funders is that the Sanders Storm will dissipate now that Hillary Clinton will get the nomination, thus allowing politics — as — usual to reestablish its grip on the system.

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‘Despite Sanders supporters’ natural disappointment that their efforts ended short of the Oval Office, the majority are not petulantly giving up on politics, as most pundits predict,’ writes Hightower. (Photo: Stephen Melkisethian/flickr/cc)

Here’s why I think they’re dead wrong: First, whatever else you think of Clinton, she’s certainly smart, savvy, and accomplished, and she didn’t come this far by ignoring important shifts in the political winds. As Sanders’ tub-thumping message drew huge crowds, new voters, and that deep pool of small donors, she adjusted her wings to try riding some of the powerful thermals rising from America’s grassroots. A career-long corporate Democrat, Clinton began sounding more and more like Sanders, sympathizing with the rising fury of working-class families and becoming at least Bernie-lite on several populist proposals.

You can view her adaptations as hopeful or hopelessly cynical, but the point is that Clinton recognizes that a new power is loose on the land. Understanding that the same old Bill and Barack moderate corporatism won’t charge up the crowds she needs in November, she’s scrambling to tap the electric populism of the Bernie Rebellion.

“Unlike the political and media establishment, which treats elections as periodic games to be ‘won’ with pollsters, funders, and tricksters, this populist team is engaged in REAL politics.”

This rebellious spark is the true hope of a moribund Democratic Party that registers only 29 percent of eligible voters. Far from wishing away the energetic millions who “Feel the Bern,” entrenched Democratic elders should beg these hot—blooded activists to revitalize the party. In fact, a June poll by Reuters/Ipsos found that three quarters of Democrats (including Hillary backers) want Sanders to have a “major role” in shaping the party’s positions, and two-thirds wanted him as her VP choice.

Think about it: While Bernie was the oldest candidate running for president, in heart, soul, vigor, and vision he is by far the youngest. He won the majority of voters under 45 years old and a stunning 71 percent of under-30 voters. In the under-30 demographic, Bernie even won decisively among women, including African-Americans and Latinas. He also dominated among independents who voted Democratic. There’s the future.

Continue reading Campaigns End on Election Day. Revolutions Don’t.

Why the Economy Should Stop Growing—And Just Grow Up

YES Magazine
econ

“How do we grow the economy?” is an obsolete question. Local initiatives across the world are looking for maturity instead as they rebuild caring, place-based communities and economies.
David Korten
Listen to the political candidates as they put forward their economic solutions. You will hear a well-established and rarely challenged narrative. “We must grow the economy to produce jobs so people will have the money to grow their consumption, which will grow more jobs…” Grow. Grow. Grow.
But children and adolescents grow. Adults mature. It is time to reframe the debate to recognize that we have pushed growth in material consumption beyond Earth’s environmental limits. We must now shift our economic priority from growth to maturity—meeting the needs of all within the limits of what Earth can provide. Continue reading Why the Economy Should Stop Growing—And Just Grow Up

How the Definition of Development Aid is Being Eroded

InterPress Service

By Lyndal Rowlands

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UNITED NATIONS, Apr 21 2016 (IPS) – The traditional definition of aid is being eroded at the same time that governments have committed to achieving the UN’s ambitious Sustainable Development Goals (SDGs), Jeffrey Sachs special adviser to the UN Secretary-General on development told IPS Thursday.

“A lot of governments have a kind of magical thinking which is, we’re all for the Sustainable Development Goals but don’t come to us if you want to achieve them, go borrow from the private markets,” said Sachs.

Aldo Caliari who represents civil society in UN Financing for Development (FfD) negotiations told journalists here Monday that there has been a “significant shift in the language” in these negotiations towards “a larger presence of the private sector”. Continue reading How the Definition of Development Aid is Being Eroded

Pope tells corrupt benefactors that church doesn’t need ‘dirty money’

Catholic News Service

By Carol Glatz

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VATICAN CITY (CNS) — Speaking out against exploitation and unfair wages for workers, Pope Francis told benefactors to forget about donating money to the church if their earnings came from mistreating others.

“Please, take your check back and burn it,” he said to applause.

“The people of God — that is, the church — don’t need dirty money. They need hearts that are open to God’s mercy,” the pope said March 2 during his general audience in St. Peter’s Square.
God wants people to turn away from evil and do what is just, not cover up their sins with gestures of sacrifice, he said. Continue reading Pope tells corrupt benefactors that church doesn’t need ‘dirty money’

Socially responsible investors press companies to do the right thing

Catholic News Service
By Dennis Sadowski Catholic News Service

WASHINGTON LETTER SHAREHOLDERS

WASHINGTON (CNS) — If it’s spring, it must be corporate annual general meeting season.

For investors concerned about corporate accountability and transparency, it’s one of the busiest times of the year.

The annual general meetings give shareholders the chance to publicly engage corporate leadership on hot-button issues such as human rights, climate change, sustainability, lobbying expenditures and human trafficking. Continue reading Socially responsible investors press companies to do the right thing