Chelsea Green Publishing

GDP Scorecards Still Misleading Government, Banks and Investors as New Survey Shows Disconnect

The GDP results for the final quarter of 2010 remain unreliable in charting recovery and progress in Europe, the USA, China, Brazil and most other countries. A new survey, BEYOND GDP, by GlobeScan and Ethical Markets (USA and Brazil) in Australia, Brazil, Canada, China, France, Germany, India, Italy, Kenya, Russia, the UK and the USA, reaffirms the large majorities favoring reform of money-based GDP with many available indicators of health, education, infrastructure, poverty gaps and environmental quality found in their 2007 survey for the European Commission (www.beyond-gdp.eu). Statistical agencies are still on automatic pilot, grinding out GDP, an inaccurate "rearview mirror," omitting vital indicators of future trends. The chorus of critics of "GDP fetishism" now point to many more accurate indicators forecasting national wellbeing, sustainability and quality of life. Bri
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Real Economies and the Illusions of Abstraction

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 […]
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April at Ethical Markets and Hazel Henderson

Happy Spring!  April brought a record number of visitors to our three websites as well as, for the first time, companies interested in advertising with us!!  Thus, we are exploring this revenue option (limited to companies that share our goals and meet the highest social, environmental and ethical auditing standards).   *  My recent papers […]
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The Politics of Economics

The death knell for the economics discipline was sounded by Nobelist chemist Frederick Soddy in 1921 (“Mr. Soddy’s Ecological Economy,” New York Times, April 11, 2009). Why were Soddy’s insights into the fatal flaws of economics buried for almost a century? In my The Politics of the Solar Age (1981), reviewed by Langdon Winner (New […]
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Democratizing Finance

The financial meltdown generated by Wall Street and the too big to fail culture of global money-center banks and financiers is generating local initiatives and demands to decentralize and democratize finance. Meanwhile, at the global level, the G-20 countries demands to democratize the voting structures of the IMF and the World Bank are essential to […]
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What Was – and Wasn’t – Achieved at the G20 Summit

The G-20 April 2nd Summit in London acknowledged the group’s interdependence and moved toward greater cooperation now essential to reforming global finance. The G-20 endorsed the goal of building a resilient, sustainable and green economy. “We will make the transition towards clean, innovative, resource-efficient, low-carbon technologies and infrastructure.” The G-20 also reaffirmed their commitment to […]
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The New Financiers

A venture capitalist friend of mine asked me in a recent discussion about the financial meltdown, “who will be the new financiers?” I answered immediately, “the new financiers will be the high-level information and knowledge brokers – and they will aggregate the new research on global change processes and lead in structuring the deals now […]
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Worldwide Support Found for Measuring True Wealth of Nations

The “Beyond GDP” Conference in the European Parliament, Nov. 19-20th, released a survey by GLOBESCAN for Ethical Markets Media, LLC, which finds three quarters of people in ten countries agreeing that their governments should look beyond economics and include health, social and environmental statistics in measuring national progress. The survey can be accessed at www.ethicalmarkets.com, […]
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Diagnosing the Economic Body Politic

Mainstream media in 2008 were replete with diagnoses of the sickness of the US economy. Central bankers, politicians and their economic advisors sought to explain the economy’s swoon in medical terms. The economic patient was described as having a heart attack, a seizure, a collapse, a loss of animal spirits, loss of confidence. Our body […]
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