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10 Common Sense Principles for a New Economy

It’s time we the people declare our independence from the money-favoring Wall Street economy.


Towards a New Economy and a New Politics

If America’s present system of political economy were performing well, there would be little need to question it or seek fundamental change. But that is not the case.

Asked what the key goals of economic life should be, many would reply, “to enhance social well-being while sustaining democratic prospects and environmental quality.” Judged by this standard, today’s political economy is failing.

Taxonomy Menu: 
Sustainable Economy,

The Unfinished Business of Financial Reform

Lawmakers will need to consider financial speculation taxes in the next round of the fight to rein in Wall Street.

As senators prepare to fight their way through a blizzard of amendments to the financial reform bill, it's hard to predict exactly what we'll wind up with when the storm is over. But it's important to view this as merely round one in what will likely be a long struggle to rein in Wall Street.

Marching on K Street to Transform Wall Street

Tax Speculators: Shut down the Wall Street Casino

On May 17, I will join thousands of others in a creative protest on a street that most Americans don't know exists. It is "K Street" in Washington, and it is home to thousands of corporate lobbyists who get paid six figures to buy the votes in Congress.

Debt vs. Localization: Climate Justice in the New Economy

David Korten: Where does the concept of "climate debt" fit into a New Economy framework?

As the climate changes, the consequences for poor people in low-income countries—those who have had no part in the profligate consumption that created the problem—will be particularly devastating.

Enabling Wall Street's Gambling Problem

Thought bankers had learned their lesson in 2008? Think again.

After the financial meltdown of 2008, I remember thinking that I wouldn't be running into Wall Street lobbyists much anymore in the halls of Congress.

If you'd just driven the economy off a cliff, wouldn't you be embarrassed to show your face on Capitol Hill? And surely, I thought, these firms wouldn't spend their taxpayer bailout money on high-priced lobbyists.

Mining for Profits in International Tribunals

A new report documents increased lawsuits against governments by transnational corporations involved in the oil, mining, and gas industries.

In the context of high global prices for natural resources, developing country governments seeking to increase the benefits of those resources for their own people are finding themselves increasingly at odds with transnational corporations.

Tax Day Talking Points

There are two tax systems in America today: one for the privileged and one for everyone else.

Today, we have a two-tier federal tax system: one tax system for the wealthy and powerful corporations and another tax system for everyone else. The tax system for the privileged features loopholes and special provisions that enable wealthy individuals and global corporations to hide taxable income and receive special treatment. The tax system for “regular people” offers few loopholes.

Fix the Economy, Not Wall Street

Why regulate a broken system when we can build a better one? Welcome to New Economy 101.

Financial reform is the Congressional political issue of the month. Democrats say their bill will place essential controls on Wall Street to prevent abuse and a repeat of the financial crash. Republicans say it will encourage further Wall Street risk-taking by giving the big banks a guarantee of a future taxpayer bailout if reckless decisions trigger another financial crash.

The Cleveland Model

Something important is happening in Cleveland: a new model of large-scale worker- and community-benefiting enterprises is beginning to build serious momentum in one of the cities most dramatically impacted by the nation's decaying economy. The Evergreen Cooperative Laundry (ECL)--a worker-owned, industrial-size, thoroughly "green" operation--opened its doors late last fall in Glenville, a neighborhood with a median income hovering around $18,000.

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