OUR CIVILISATION IS STRUCTURALLY UNSTABLE.
There is a probability that our integrated and globalised civilisation is on the cusp of a fast and near-term collapse.
Lord Phillips of Sudbury, Letter, the Times, ‘Bankers’ morals’, 18 September 2009: “…. Given that these Masters of the Universe included some very clever men and women, I would suggest that the failure was not in understanding risk so much as in not comprehending that a market without morals is sure to implode, especially when driven from the boardroom by insatiable personal aggrandisement. It is thus bizarre to talk of the ‘resilience of capitalism’ when it was only unprecedented intervention of governments that prevented a partial collapse of the banking system becoming a total one. What is generally missing from the post-mortem is the personal ethical dimension. Regulation can only ever provide a limited safety net. But if the markets continue to be driven and ruled by ruthless maximization of profit fettered only by law (and then stretched to breaking point), nothing will save us from further disaster. Next time it will be fatal.”
'ROOTS' ARE STRUCTURAL AND DEEPLY EMBEDDED IN CULTURE AND LAW, HAVING EVOLVED OVER DECADES, EVEN CENTURIES.
They are unlikely to be tackled in the time frame we have by emphasis on personal response-ability alone: essential though that is, it is not sufficient. In my view so many calls for an ethical basis and moral behaviour within our economic system will remain but eloquent rhetoric unless specific structural elements such as these below, are acknowledged and studied seriously by independent and interdisciplinary bodies, if not immediately endorsed......
PRIMARY CONSIDERATIONS if the system is inherently tending to degradation as strong evidence shows:
- ACKNOWLEDGE NATURAL LAW AS FOUNDATION OF EARTH’S WELL-BEING
and how fundamentally it differs from Human law [www.EarthJurisprudence.org
& Quantum Theology by Dr. Diarmuid O'Murchu [www.diarmuid13.com
]; Primavesi; Earth Charter; Aristotle, Plato and Aquinas;
- END THE COMMODIFICATION OF PEOPLE, LAND/ASSETS, AND
MONEY [James Quilligan economic adviser to the Global
Elders and G20 finance ministers; Steady State Economy
- Totem of Real Economy etc. www.eco-labs.org]
- INCLUDE RIGHTS OF ALL STAKEHOLDERS [see. ‘Origin, Role and Differentiation of Rights’ Thomas Berry; Equator’s recent Constitution including earth rights!]
- REDEFINE 'INTEREST' AND 'USURY' in the light of the enduring wisdom of all faith traditions to expose the abuse and exploitation beyond transparent fees and charges. [CCMJ: 'Against Usury’ - Resolving the economic, ecological and welfare crisis'. R van de Weyer - 'unequal allocation of risk'; Pettifor, Dominy.]
- RESTORE CREDIT CREATION TO A PUBLIC FUNCTION returning
commercial banks to brokerage. [Forum for Stable Currencies;
Global Table; www.call4Reform.org
- PROVIDE INTEREST-FREE LOANS FOR INFRASTRUCTURE AND
GENUINE PRODUCTIVENESS. [www.binaryeconomics.net]
- WIDEN CAPITAL OWNERSHIP IN THE DIRECTION OF A UNIVERSAL
BASIC INCOME [www.binaryeconomics.net]
- REPLACE TAX ON EARNINGS BY A CHARGE ON UNEARNED RENTAL
VALUE OF LAND. [Coalition for Economic Justice
- REVISIT CORPORATE LAW to include recognition of all
above points and exclude ecological and societal 'externalities'.
- ENSURE TRANSPARENT SHARING OF RISK AND REWARD in all transactions [Islamic Banking - arguably also identified in Christian social doctrine and ecumenically understood]
- END BONUS CULTURE [Equitable payment Elliot Jacques ‘time span of responsibility’]
- DEVELOP INTERDISCIPLINARY REGULATION/REVIEW - curtailing the conceit of 'peer review' within a single Discipline [Tax Justice Network; Gaia and Climate Change - a theology of Gift Events' Anne Primavesi: Royal Institute 360degree review: A Simple 3G test]
- END PRIVATE FUNDING OF POLITICAL PARTIES
- FOLLOW CLOSE STUDIES OF COMPLEMENTARY CURRENCIES
The money and tax reform networks in this country, to which I could point you, would gladly discuss these matters and the evidence available in the comments in italics. I would be delighted to meet you to discuss any of these points further a s a p. All this makes it a tough pilgrim way that we will tread boldly if we can acknowledge the variety of contributions to overall systemic restructuring......... but the time is seriously short.
14th April 2010.