Reply To: Climate Crisis: Our Last Chance

New economic system….so they think

http://news.trust.org/item/20190508170711-h09hs/

“We face a form of capitalism that has hardened its focus to short-term profit maximisation with little or no apparent interest in social good,” Jeremy Grantham, co-founder of global investment manager GMO, wrote.

The vision: a new relationship between the state, local communities and nature aligned behind a more holistic notion of progress than gross domestic product (GDP).

“It is time to acknowledge that the state must play the central role in marshalling a response to looming systemic environmental shocks.
But rather than harking back to the nationalisation and executive wage caps of 1970s left-wing politics, they think governments should support communities to create new, participatory forms of economic activity that can tackle social inequality while also restoring planetary health.
Candidates include: locally-run clean energy projects, worker-owned cooperatives, many kinds of progressive businesses, and regenerative agriculture or rewilding practices that could grow exponentially in a favourable policy environment.
New economic indicators could also be developed through democratic consultations to measure advances in fairness, health or sustainability, building on examples such as the Genuine Progress Indicator, an early attempt to devise a more rounded alternative to GDP…”