Author Archive

The Politics of the Solar Age: 1975-2015

A global transition is manifesting in sustainable technologies, policies and investment tools. We are moving beyond the Industrial Era. Crises in energy, water, food and ecosystem services are being met with many forms of renewable energy; United Nations, NGOs, World Bank and other global programs; and with creative investment opportunities such as green bonds. Paradigm shifts in science, academia, governance, leadership, finance, business, social norms, media, communications and network structures as well as the role of Earth-observing satellites have led to a greater focus on earth systems science. Stress is a basic tool of evolution, and breakdowns drive breakthroughs. While mainstream media operates on the commercial formula of “if it bleeds it leads,” growing consciousness is accelerating the green transition to more equitable, peaceful, sustainable, knowledge-rich societies. This article explores key drivers of this transformation and the standards being developed to guide us into the Solar Age. Read More

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 the 1960s and foisted onto the Nobel Prize Committee. Most of these abstract models, based on misuse of mathematics, contributed to the financial crises of 2007-2008. Now, the family of Alfred Nobel, led by lawyer Peter Nobel, has disassociated itself from the Bank of Sweden Prize in Economics In Memory of Alfred Nobel.1,* They point out that Nobel never would have approved of a prize in economics since it is not a science – and would have disapproved even more that most of the prizes were given to Western, neoclassical economists using mathematized, abstract models – far from Nobel’s wider concerns. Read More

Grossly Distorted Picture: GDP Still Misleading

Beyond GDP: Global Poll*
A new global poll across 12 countries reveals that more than two-thirds of people polled think that economic statistics like GDP are an inadequate way of measuring national progress.

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Transforming Finance Group’s Call Recognizes Finance as a Global Commons

from Ethical Markets:
Hazel Henderson, President

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