5 Matching Annotations
- Jan 2024
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docdrop.org docdrop.org
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for: elephants in the room - financial industry at the heart of the polycrisis, polycrisis - key role of finance industry, Marjorie Kelly, Capitalism crisis, Laura Flanders show, book - Wealth Supremacy - how the Extractive Economy and the Biased Rules of Captialism Drive Today's Crises
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Summary
- This talk really emphasizes the need for the Stop Reset Go / Deep Humanity Wealth to Wellth program
- Interviewee Marjorie Kelly started Business Ethics magainze in 1987 to show the positive side of business After 30 years, she found that it was still tinkering at the edges. Why? - because it wasn't addressing the fundamental issue.
- Why there hasn't been noticeable change in spite of all these progressive efforts is because we avoided questioning the fundamental assumption that maximizing returns to shareholders and gains to shareholder portfolios is good for people and planet.**** It turns out that it isn't. It's fundamentally bad for civilization and has played a major role in shaping today's polycrisis.
- Why wealth supremacy is entangled with white supremacy
- Financial assets are the subject
- Equity and bonds use to be equal to GDP in the 1950s.
- Now it's 5 times as much
- Financial assets extracts too much from common people
- Question: Families are swimming in debt. Who owns all this financial debt? ...The financial elites do.
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meme
- wealth supremacy and white supremacy are entangled
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is maximum returns really what we insist upon if that is the force that's driving our fragility and ecological crisis
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for: key question - maximizing returns
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key question
- quote: Marjorie Kelly
- Is maximizing returns really what we insist upon if that is the force that's driving our fragility and ecological crisis?
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I close the book by saying, we don't start by asking, is transformation possible? We start by asking, is it necessary?
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for: quote - transformation
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quote: Marjorie Kelly
- We don't start by asking: Is transformation possible? We start by asking: Is it necessary?
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I was raised Catholic, you know, very, very devoutly Catholic. My family was. I went to eight years of Catholic schooling. I had to step away from the church when I realized I couldn't say all the things 00:21:39 that we were being asked to say. I've, these days I've been studying Buddhism for many years
- for: Marjorie Kelly - spiritual background in Christianity and Buddhism
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we're not in the economy of the 1950s anymore. And we act as though we are, that finance is this productive force and it's building, it's building wealth. Well, for the most part, it's not. It's, there's so much financialization, so many financial assets, that they've become an extractive force. And a big piece of this 00:06:37 is that we're not really distinguishing between productive investments and speculative investments
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for: quote - Marjorie Kelly, quote - finacialization, progress trap - financialization, progress trap - capitalism, speculative investing
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quote: Marjorie Kelly
- we're not in the economy of the 1950s anymore.
- And we act as though we are, that finance is this productive force and it's building, it's building wealth.
- Well, for the most part, it's not.
- There's so much financialization, so many financial assets, that they've become an extractive force.
- And a big piece of this is that we're not really distinguishing between
- productive investments and
- speculative investments
- And a big piece of this is that we're not really distinguishing between
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Tags
- quote - financialization
- Capitalism crisis
- book - Wealth Supremacy - How the Extractive Economy and the Biased Rules of Capitalism Drive Today's Crises
- elephant in the room - financial industry at heart of polycrisis
- key question - Is maximizing returns sustainable?
- polycrisis - key role of finance industry
- Marjorie Kelly
- quote - wealth maximization
- magazine - Business Ethics - founder - Marjorie Kelly
- quote - Marjorie Kelly
- progress trap - capitalism
- quote - transformation
- progress trap - speculative investing
- magazine - Business Ethics
- Laura Flanders show
- speculative investing
- progress trap - financialization
- productive investment
- Marjorie Kelly - spiritual background in Christianity and Buddhism
- speculative investment
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