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Money & Finance

The Great Divorce: Finance and Economy
Immediate Solution for the Greek Financial Crisis
Transforming Finance Group’s Call Recognizes Finance as a Global Commons
The Perfect Storm: Economics, Finance and Socio-Ecology
Capital Needs Labour
Real Economies and The Illusions of Abstraction
Getting Risks Right:Thoughts about Increasing the Resilience of the Global Social & Economic System
Book review — Money and Sustainability: The Missing Link
The Power of Money
Money, Debt, People and Planet
Multiplying Money
Making Central Banks Serve The Real Economy
Fictitious Capital and the Elusive Quest in Understanding its Implications: Illusions and Paradoxes
Can we Finance the Energy Transition?*
Changing the Dominant Paradigm in Economics
Money, Markets and Social Power
The Market Myth
Socioeconomic Challenges and Crises: Brazilian Illustration and the Search for a New Paradigm
Financing Human Capital: Families & Society
Integrated Approach to Peace & Human Security in the 21st Century*
Rethinking Economics, the Role of Insurance: Adam Smith Upside Down—The Central Role of Insurance in the New Post-Industrial (Service) Economy*
Domesticating Finance for Pursuing Post-Crisis Growth
Towards a Conceptual System for Managing in the Anthropocene*
Disruptive Technologies, A Critical Yet Hopeful View

Erich Hoedl
 Get Full Text in PDF Abstract Unequal distribution of societal power is to a large extent responsible for poverty, hunger, the destruction of nature, and inhuman living conditions. From the perspective of its redistribution, we distinguish three basic means of power: The ownership of material and immaterial properties, the kind of organisation and the values according to which properties... Read more
Garry Jacobs
 Get Full Text in PDF Abstract The unprecedented opportunities missed at the end of the Cold War have come back to haunt and taunt us in the form of misshapen ideologies and misconceived policies. Discredited notions discarded by history once again raise their heads to be finally buried or bury us. Despite the rhetoric of the Washington Consensus, the fall of the Berlin Wall, the collapse... Read more
Winston P. Nagan, Craig Hammer
 Get Full Text in PDF Abstract This paper examines the foundations of economic neoliberalism and underlines the implications of the foundations of this economic theory in its reliance on economic value as ownership, property, and commodity which misdirects economic inquiry from the real value of human capital as the proper foundation of a viable economic system. It focuses on the role of a... Read more
Elif Çepni
 Get Full Text in PDF Abstract Solutions to the major problems of our time require a radical shift in our perceptions, thinking and values. Post-normal times (characterized by complexity, chaos and contradictions), post-normal science (characterized by uncertainties, systems view of thinking, alternative perspectives, unknown unknowns, values) and human-centered economy are conceptions... Read more
Carlos Alvarez Pereira
 Get Full Text in PDF Abstract A new perspective is attempted on the role played by Information and Communication Technologies (ICTs) in the evolution of human societies in the last few decades. Particular attention is paid to their (lack of) relationship with the challenges of sustainable development, presenting the view contrary to mainstream perception that for now ICTs have a negative... Read more
Robert Hoffman
 Get Full Text in PDF Abstract This note takes as its frame of reference the concept of ‘deep thinking’ developed by William Byers [Byers 2015]. According to Byers, deep thinking or creative thought can emerge when a problem is framed by two (or more) conceptual systems and it is found that there are areas of incoherency between the conceptual systems. A new conceptual system... Read more
Dimitrios Kyriakou
 Get Full Text in PDF Abstract There has been a total (public and private) debt bubble that has been growing since the 80s, accompanying an implicit promise of higher standards of living through large market deregulation experiments (capital markets deregulation and capital mobility being chief among them). The path chosen by conventional economics for delivering this implicit promise... Read more
Orio Giarini
 Get Full Text in PDF Abstract In the first page of The Wealth of Nations, Adam Smith described an apparently trivial issue, the making of a pin. In his search for ways to effectively fight poverty, he formulated the basis for a new view of economy based on the Industrial Revolution. Two centuries later, the perspective he developed remains intact and is largely outdated. It does not... Read more
Garry Jacobs
 Get Full Text in PDF Abstract Humanity has made remarkable progress during the past two centuries in advancing peace, democracy, human rights, economic development and social equality. The evolution of human relations has progressed far from the time when physical violence, war and conquest were the predominant form of international relations. Diplomacy has evolved from political... Read more
Neantro Saavedra-Rivano
 Get Full Text in PDF Abstract The Organization for Economic Cooperation and Development (OECD) describes human capital as “knowledge, skills, competencies and attributes embodied in individuals that facilitate the creation of personal, social and economic wellbeing.”* It follows from this interpretation that investment in human capital includes the sum of all costs that allow a new... Read more
Joanilio Rodolpho Teixeira, Rodolfo Marcílio Teixeira
 Get Full Text in PDF Abstract Economic Neoliberalism in its most perverse form has been recapturing the imagination of policy makers worldwide. It emerged in the context of a prolonged crisis, increasing unemployment and unsustainability in the public sector. Growth slowdown reflects several factors, including domestic errors of economic policies, lower commodity prices and structural... Read more
Tomas Björkman
 Get Full Text in PDF Abstract The Market can be understood as a self-organizing system that is constantly evolving. Like all social institutions, it is governed by principles and rules created by society, not by any universal laws of nature. If it does not work the way we want it to, we have the power and freedom to change its rules. However, prevailing notions about the market are veiled... Read more
Garry Jacobs
 Get Full Text in PDF Abstract The future science of Economics must be human-centered, value-based, inclusive, global in scope and evolutionary in perspective. It needs to be fundamentally interdisciplinary to reflect the increasingly complex sectoral interconnections that characterize modern society. It must also be founded on transdisciplinary principles of social existence and human... Read more
Maria de Lourdes Mollo
 Get Full Text in PDFAbstract This article addresses the discussion proposed by the World Academy of Art & Science (WAAS) about the need to build a new paradigm to confront the challenges of the global society and to move across to a New Society discussing specific problems related to economic globalization and proposing changes. The ways in which economic orthodoxy and heterodoxy... Read more
Ian Johnson
 Get Full Text in PDF Abstract The energy sector is pivotal to our aspirations for a sustainable planet and yet two major challenges face policymakers worldwide. The first is to decide what set of technical choices provide the best solution to meet social, economic and environmental agendas; and the second is to decide how these choices can be financed. The bulk of new energy demand will... Read more
Joanilio Rodolpho Teixeira, Paula Felix Ferreira
 Get Full Text in PDF Abstract This paper deals with the interaction between fictitious capital and the neoliberal model of growth and distribution, inspired by the classical economic tradition. Our renewed interest in this literature has a close connection with the recent international crisis in the capitalist economy. However, this discussion takes as its point of departure the fact that... Read more
Suleika Reiners
 Get Full Text in PDF Abstract The challenge is to redirect central bank money into the real economy and to the needs of society. If new money is issued to expand the productive capacity, there is no reason for inflation. Long-term financing could become available at an affordable price. Central bank money must not replace a sound tax system and the distribution of income and wealth, but... Read more
Garry Jacobs
This is Part 2 in the Money Series. Part 1 "The Power of Money" is available here. Get Full Text in PDF Abstract   This article is not a comprehensive factual history of money as an economic instrument. It aims rather to present an essential psychological history of the power of money as a social organization or social technology. It explores the catalytic role of money in the... Read more
Jakob von Uexkull
Get Full Text in PDF Abstract The widespread failure to understand money creation plays a key role in the current policy impasse. In a world ruled by money, this failure disempowers and prevents serious consideration of alternatives. The key reasons why we are not moving faster in tackling the global crises are, we are told, because it is too expensive, there is not enough money, it is not (yet... Read more
Garry Jacobs, Ivo Šlaus
This is Part 1 in the Money Series. Part 2 "Multiplying Money" is available here. Get Full Text in PDF Abstract Although we all use money every day, the nature and functioning of money seem shrouded in commonplace myths and ancient mysteries. Money plays a central role in economics today, yet rarely do we come across a serious, informed discussion of what money really is and what role it plays... Read more
Ivo Šlaus, Garry Jacobs
Get Full Text in PDF A Report from the Club of Rome – EU Chapter to Finance Watch and the World Business Academy By Bernard Lietaer, Christian Arnsperger, Sally Goerner and Stefan Brunnhuber Triarchy Press 2012 This report by WAAS Fellow Bernard Lietaer and his associates addresses important theoretical and practical issues regarding modern monetary systems. The central thesis of the report is... Read more
Patrick Liedtke
Get Full Text in PDF Abstract The extraordinary extent of the financial crisis has inspired deep systemic reforms world-wide, rethinking financial stability, the resilience of our economic systems, and the role that national and international institutions play. While most of the ongoing activities are understandably centred on banks and the banking sector – the origin and centre of the crisis –... Read more
Garry Jacobs, Ivo Šlaus
“The tremendously wasteful underutiliza­tion of precious hu­man resources and productive capacity is Greece’s most serious problem and also its greatest opportunity.” The recent agreement to write off a substantial portion of Greek bonds only postpones but does not resolve the essential problem. The key to the Greek crisis lies in economy, not finance. Any financial solution that... Read more
Orio Giarini, Ivo Šlaus, Garry Jacobs
Social networking did not begin with the Internet. It is as old as human history. For what we now call social networking is really the evolution of human relationships which constitute the backbone of civilization. The emergence of the Internet is the third giant leap forward in a saga that began with the development of symbolic spoken language, the first great instrument that enabled human... Read more
Hazel Henderson
Get Full Text in PDF The yawning gap between the real world and the discipline and profession of economics has never been wider. The ever-increasing abstractions in finance and its models based on "efficient markets" and "rational actors": capital asset pricing, Value-at-Risk, Black-Scholes Options Pricing have been awarded most of the Bank of Sweden prizes since they were founded in the 1960s... Read more
Ian Johnson
Get Full Text in PDF A Commentary* The world is at an inflection point. A convergence of themes – seemingly disconnected – is integral and urgent to our very survival. Our world is headed into a Perfect Storm of an interconnected financial, ecological and social crisis. Almost all forward-looking assessments demonstrate that business as usual and incremental improvements will not be sufficient... Read more
Patrick Liedtke
Get Full Text in PDF The past three and a half years have seen a very rough ride for the world’s financial markets. Not only did the credit crisis (which The Geneva Association has studied intensively) directly impact the value of many real world assets (especially U.S. real estate) and stock markets with particular bearing on bank stocks, many derivatives and structured financial products; it... Read more
Hazel Henderson
Get Full Text in PDF The Committee on Transforming Finance, a multinational network of career market participants: investors, asset managers, business executives, philanthropists, academics and financial authors, holds that the financial system is a global commons and calls for a new set of rules that would allow it to be governed in full conformance with this reality. We as beneficiaries and... Read more
Money & Finance
Tomas Björkman
Garry Jacobs
Jakob von Uexkull
Garry Jacobs, Ivo Šlaus
Orio Giarini, Ivo Šlaus, Garry Jacobs
Patrick Liedtke