Money: Print Your Own!
Instead of creating wealth, our money system is depleting our real wealth: our communities, ecosystems, and productive infrastructure.
Money versus Wealth
by David C. Korten
What is this madness? The economy is booming. The stock market is setting new
records [sic]. The US is again heralded as the world's most competitive
economy. We are assured that we are richer than ever before and getting richer
by the day.
Yet we are also told there is no longer enough money to provide an adequate
education for our children, health care and safety nets for the poor,
protection for the environment, parks, a living wage for working people,
public funding for the arts and public radio, or adequate pensions for the
elderly. According to the official wisdom, even though richer, we can no
longer afford what we once took for granted. How is this possible? What's gone
A quick hint. The problem most definitely is not a lack of money. The world is
awash in it. The world's 450 billionaires alone have combined financial assets
greater than the combined annual incomes of half of humanity.
The problem is this: a predatory global financial system, driven by the single
imperative of making ever more money for those who already have lots of it, is
rapidly depleting the real capital