What makes creative capitalism hard? Let me count my ways:
1. there are very few people who understand the mechanisms and powers of the creation of money as a national currency and National Debt;
2. there are even less people in positions of institutional or financial power who understand these mechanisms;
3. the ‘political will’ can not come from politicians, because too few understand and too many don’t want to rock the boat that is steered by Central Banks and financial institutions;
4. the monopoly and privilege to create Cash lies with the State and is legally enshrined by the law making process;
5. the monopoly and privilege to create Credit lies with banks who are self-regulated;
6. lawyers are self-regulated;
7. institutional cultures perpetuate existing processes and don’t allow for innovation, let alone creativity that is inherently individual;
8. the financial need for survival, a job and a pension is more immediate than the passion to care for others and to contribute to a world that works for all of us;
9. Nobel Peace Prize winner Muhammad Yunus writes in “Creating a World without Poverty – Social Business and the Future of Capitalism” that institutions have failed us. He says they and governments are notoriously slow. Hence ‘social business’ is the answer on individual levels.
10. We have been ‘entrained’ to think in terms of economics, a soft science, rather than mathematics and systems.
As a mathematician and systems analyst, my latest attempt to contribute to ‘creative capitalism’ is an on-line petition targeted at the Treasury Select Committee of the House of Commons.
Maybe you click on http://tinyurl.com/666rwd for more?
Upon further reflection, I should add:
11. Nobody seems to question the banks’ trends of investing one ‘financial product’ after another. Once upon a time, money was invented as a MEDIUM OF EXCHANGE! Not a product to buy and sell for money!
12. All philosophies and religions, and especially Islam, forbid us to make money out of money. But capitalism has turned usury (making money from lending) into a ‘craft’.
Thanks for counting with me!