Group Members

MOHD AFFEZ ANUAR

JURUTERA KANAN
JABATAN PENGURUSAN PROJEK

MOHD ASHAKRI ABDUL LATIF

JURUTERA STIM KANAN
TANJUNG LANGSAT BIOMASS STEAM PLANT

SHAZRUL ASWAD SHAHABUDDIN

EKSEKUTIF KANAN
TANJUNG LANGSAT BIOMASS STEAM PLANT

NUR AFIQA ISHAK

JURUTERA
JABATAN PENGURUSAN PROJEK
 AGENDA FOR A NEW ECONOMY
From PHANTOM WEALTH to REAL W
AUTHOR : DAVID C KORTEN

BORN : 1937 LONGVIEW WASHINGTON

OCCUPATION :
ECONOMIST, PROFESSOR,
ENVIRONMENTALIST, ACTIVIST AND AUTHOR

EDUCATION :
MBA STANDFORD UNIVERSITY GRADUATE
SCHOOL OF BUSINESS
PHD STANFORD UNIVERSITY GRADUATE
SCHOOL OF BUSINESS 3
BOOK CONTENTS

Preface
Part I :
The case for a new economy.
Part II :
The case for eliminating Wall
street.
Part III :
Agenda for a Real-wealth
economy.
Part IV :
HAMID

THE AGENDA IS TO LET GO

WALL STREET

BUILD

A NEW ECONOMY BASED ON

DIFFERENT VALUE AND INSTITUTIONS
PREFACE
MONEY

Illusion Reality
money is money is the ultimate cause of the
wealth economic crisis that is tearing many
lives apart

Money represents a claim on things essential to our survival and well-being

we easily slip into evaluating economic performance in terms of the rate of
financial return to money, essentially the rate at which money is growing,
rather than by the economys contribution to the long term well being of
people and nature.

Financial collapse reveals that Wall Street is creating phantom wealth

unrelated to production of anything of real value.
Our hope lies with the real-world economy of Main Street, where people
engage in the production and exchange of real goods and services to meet
the real needs of their children, families and communities, and where they
have a natural interest in maintaining the health and vitality of their natural
environment.
Part I
THE CASE FOR A NEW ECONOMY
1.1 LOOKING UPSTREAM (J-Curve)

Crisis
The economic
system has failed in
every dimension This created an
financial, opportune moment to
environmental & open a national
social. conversation about what
we can and must do to
create an economic
system that can work for
all people for all time.

The real need goes far beyond
pumping new money into the economy
to alleviate the consequences of the
credit squeeze. The need is to rebuild
the system from the bottom up.
The financial crisis has
put to rest the myths
that our economic
institutions are sound
and that markets work
best when deregulated.
 TREAT THE SYSTEM, NOT THE SYMPTOM
A basic rule of effective problem solving
LOOK AT THE BIG PICTURE
10%
Treat the visible
problem as
LOOK
the symptom of UPSTREAM TO
a deeper system FIND THE
failure. ROOT CAUSE.

FIND THE
ECONOMIC
CAUSE AND FIX
THE SYSTEM
SO THE
90% PROBLEM WILL
NOT RECUR
A NEW STORY FOR A NEW ECONOMY
In fact, we have the
means to create an Fulfill the democratic
economy that fulfills 6 ideal of one-person, one-
criteria of economic vote citizen sovereignty
health. Such economy
would : - Support an equitable &
socially efficient
allocation of resources
Honor sound, rule-
based market
principles
Nurture relationship
with strong, caring
communities
Bring human consumption
into balance with Earths
natural systems
Provide everyone
with the opportunity for a
healthy, dignified and fulfilling life
CONCLUSION
A BOOK FOR THOSE READY TO LOOK UPSTREAM

For people who are looking upstream, not to place blame, but to
find real solutions to the system failure that now threatens our
future.

It is about the cultural stories that shaped our collective values

and the institutional systems that shape our relationships with
one another and with Earth.

The justified public outrage against the breathtaking excess of

Wall Street creates an opportunity to mobilize political support
for a new economy that shifts our economic priorities from
MAKING MONEY for rich people to CREATING BETTER LIVES for
all. It also reallocates our economics resources from
destructive / wasteful, uses to beneficial ones.
1.2 : MODERN ALCHEMISTS AND THE SPORT OF MONEYMAKING
PHANTOM WEALTH PHANTOM WEALTH = ILLUSORY WEALTH

Money is a system of power & that the more dependant we are on

money as the mediator of human relationships, the more readily
those who have power to create money and to decide who gets it
can abuse that power.

It is easy to confuse money with the real wealth for which it can be exchanged
our labor, ideas, land, gold, healthcare, food & all other things with value in their
own right.
Those who create a phantom wealth, & those who are the
beneficiaries of mutual funds or retirement funds invested in
phantom wealth, may never realize that are giving its holder a
claim on the real wealth produced by others
Phantom wealth dollars created out of nothing dilute the claims of everyone else
to the available stock of real wealth.
They may also fails to realize that Wall Street (& its international counterparts)
have created phantom wealth claims far in excess of the value of the worlds real
wealth, creating expectation of future security & comforts that can never be
fulfilled.
MONEY IN A REAL WEALTH ECONOMY
IS NOT USED AS A MEASURE OR A
STOREHOUSE OF VALUE, BUT SOLELY
AS CONVENIENT MEDIUM OF
EXCHANGE
The Edmunds Fallacy
It tells government policy
makers that they should no
longer concern themselves
with producing real wealth by
increasing the national output
of goods & services that have
real utility
REAL WEALTH = BEYOND PRICE
They can grow their economies
faster with less exertion by
securitizing real assets so that
investors can put them into play
in financial markets and pump
their value to create gigantic
assets bubbles

Assets bubbles creates only phantom wealth that increases the

claims of the holder to a societys real wealth and dilutes the
claim of everyone else

This will lead to a DISASTER

A Bubble is Just a Bubble
An asset bubble, real estate or otherwise does not create wealth

Rise in the market price of property Does not

make the property more functional.

Wall Street encouraged the homeowners to

monetize their market gains with mortgages,
convert them into securities & sold off to the
unwary.

When the housing bubble inevitable burst,

dazed homeowners walked away, many in
financial ruin, from properties they owed more
than the market value
ALCHEMISTS IN EYESHADES
Private banks created debt money for private gain possible for
a few people to acquire obscene amounts of unearned money
while sticking the rest of us with the bill
Granting banks the right to create money with the computer
keystroke & then lend it our at interest makes banking very
profitable & Wall Street (which owns the banks) enormously
powerful
Contributes to financial instability & inequality, creates an
economic growth imperative & distorts economic priorities, all
costs to society

The damage is increased by orders of magnitude when banks

discover the profit potential in putting this money-creation
power at the service of financial speculators & predators engage
in creation of phantom wealth
CHAPTER 2: MODERN ALCHEMISTS AND THE SPORT OF MONEYMAKING

CONCLUSION
Wall Street - as economic system / syndicate
- extremely good at what it is designed & managed to
do
- make few people fabulously wealth

An alternative to Wall Street phantom-wealth capitalism : a real-

market economy
1.3: A REAL-MARKET ALTERNATIVE
TWO ECONOMIES WITH STRIKING DIFFERENT
PRIORITIES, VALUES AND INSTITUTION
DISTINCT BUT INTERCONNECTED
OFTEN IN COMPETITION
WALL STREET MAIN STREET
Institutions of big finance & the captive World of local business & working people
corporations that serve them producing real goods & services to provide a
livelihood for themselves, family &
community
World of pure finance in the business More varied in its priorities, values &
of using money to make money by institutions
whatever means for people who have
money
Perfected the art of financial Achieving a positive financial return is a
speculation, corporate asset stripping, condition of staying in business, but mostly
predatory lending, risk shifting, businesses function within a framework of
leveraging & creating debt pyramids community values & interest that moderate
the drive for profit
The player justify their action by The business owners continue to embrace a
claiming that they are creating wealth commitment to community service
for the larger benefit of the society, a
convenient bit of self-delusion
CORPORATIONS : Produce beneficial goods & services needed in our daily lives
An incorporated businesses with identifiable responsible owners who lives in the communities (where the businesses are located) &
who operate their corporations as responsible members of their community = part of MAIN STREET ECONOMY
 THE MARKET ALTERNATIVE
Adam Smith articulates that a self-organizing economy that creates an
equitable & socially optimal allocation of societys productive resources
through the interaction of small buyers & sellers making decisions based
on their individual needs, interests & abilities (Market theory)
The market theory developed into an elegant & coherent intellectual
construction grounded in carefully articulated assumptions regarding the
conditions under which such self-organizing processes would lead to
socially optimal outcomes. Market fundamentalists generally ignore the
essential conditions, which include: -
1.Buyers & sellers must be too small to influence market price
2.Complete info must be available to all participants, there can be no
trade secret
3.Sellers must bear the full cost of the products they sale &
incorporate into the sale price
4.Capital must remain within national borders, & trade between
countries must be balanced
5.Savings must be invested in the creation of productive capital rather
than in speculative trading
CAPITALISM CLOAKED IN
MARKET RHETORIC
Capitalism has distorted market
theory beyond recognition to
legitimize an ideology without logical
or empirical foundation in the service
of a narrow class interest
Its agents vigorously advance public
policies that create conditions
diametrically opposed to those
required for markets to function in a
socially optimal way
 WALL STREET CAPITALISM
VS
MAIN STREET MARKETS
WALL STREET MAIN STREET
DOMINANT MAKING MONEY CREATING LIVELIHOODS
DRIVER
DEFINING MONEY TO MAKE RESOURCES TO MEET
ACTIVITY MONEY NEEDS OF THE
COMMUNITY
FIRM SIZE VERY LARGE SMALL AND MEDIUM
COSTS EXTERNALISED TO INTERNALISED BY USER
PUBLIC
OWNERSHIP IMPERSONAL & PERSONAL AND
ABSENTEE ROOTED
FINANCIAL GLOBAL LOCAL/ NATIONAL
CAPITAL
INVERSTMENT MAX. PRIVATE PROFIT INCREASE BENEFICIAL
PURPOSE OUTPUT
THE ROLE OF AN END TO BE A MEANS TO SUSTAIN
PROFIT MAXIMISED VIABILTY
EFFECIENCY RETURN TO FINANCIAL RETURN TO LIVING
MEASURE CAPITAL CAPITAL
 WALL STREET CAPITALISM
VS
MAIN STREET MARKETS
WALL STREET MAIN STREET
COORDINATING CENTRAL PLANNING SELF-ORGANISING
MECHANISMS BY MEGA MARKETS AND
CORPORATION NETWORKS
COOPERATION CAN OCCUR AMONG OCCURS AMONG
COMPETITORS TO PEOPLE AND
ESCAPE THE COMMUNITIES TO
DICIPLINE OF ADVANCE THE
COMPETITION COMMON GOOD
PURPOSE OF ELIMINATES THE STIMULATES
COMPETITION UNFIT EFFICIENCY AND
INNOVATION
GOVERNMENT PROTECT THE ADVANCE THE
ROLE INTTEREST OF HUMAN INTEREST
PROPERTY
TRADE FREE AND FAIR AND BALANCE
UNREGULATED
POLITICAL A DEMOCRACY OF A DEMOCRACY OF
 CONCLUSION
WALL STREET ECONOMY MAIN STREET ECONOMY
Money is both means & end Largely engaged in creating real
wealth from real resources to meet
Primary product phantom wealth - real needs
money disconnected from the Healthy and the foundation of the
production or possession of anything New Economy
of real value
Good at making rich people richer but
has no concern for the health of
people, community or nature except as
sources of short-term profit

INTERSECTION BETWEEN HUMAN ECONOMIES AND THE PLANETARY ECOSYSTEMS IS A

COMPLEX ISSUE
WE NEED TO RECOGNIZE THE DISTINCTION BETWEEN REAL WEALTH AND PHANTOM
WEALTH
THERE ARE OUT-OF-CONTROL AND OUT-OF-TOUCH FINANCIAL SYSTEM DEVOTED
TO SPECULATION, INFLATING FINANCIAL BUBLES, STRIPPING CORPORATE ASSETS
AND PREDATORY LENDING
THE CREDIT COLLAPSE BROUGHT TO THE NEED CRUCIAL ECONOMY SYSTEM DESIGN
THAT WE OTHERWISE MIGHT NOT HAVE RECOGNIZE UNTIL IT HAD DONE SO MUCH
DAMAGE TO THE ECONOMY, COMMUNITIES AND THE ENVIRONMENT
1.4 MORE THAN TINKERING AT THE MARGINS

TINKERING VS TRANSFORMING
 JAMES GUSTAVE SPETH : REDIRECTION AND REDESIGN
THE PLANET CANNOT SUSTAIN CAPITALISM
REDESIGN SYSTEM OF CAPITALISM, SUPPORT DEVELOPMENT OF
LOCAL ECONOMIES POPULATED WITH FIRMS THAT FEATURE
WORKER AND COMMUNITY OWNERSHIP AND THAT CORPORATIONS
BE CHARTERED ONLY TO SERVE THE PUBLIC INTEREST
REVOKE THE CHARTERS OF CORPORATIONS THAT VIOLATE THE
PUBLIC INTEREST AND TO EXPEL UNWANTED CORPORATIONS,
ROLLED BACK LIMITE LIABILITY, ELIMINATE CORPORATE
PERSONHOLD, BAR CORPORATIONS FROM MAKING POLITICAL
CONTRIBUTIONS AND LIMIT CORPORATE LOBBYING
REPLACING FINANCIAL INDICATORS OF ECONOMIC PERFORMANCE
SUCH GDP WITH WHOLLY NEW MEASURES BASED ON
NONFINANCIAL INDICATORS OF SOCIAL AND ENVIRONMENTAL
HEALTH JEFFREY SACHS : PAINLESS FINE-TUNE APPROACH
EXPECTATIONS OF THE ECONOMIC ORTHODOXY REFERS AS FREE-
MARKET IDEOLOGUES
GOVERNMENT TO PLAY AN ESSENTIAL ROLE AND NATIONS MUST
COOPERATE
NO NEED TO REDISTRIBUTE WEALTH OR CUT BACK MATERIAL
CONSUMPTION OR REORGANISE THE ECONOMY BUT RATHER TO LIVE
WITH SMARTER TECHNOLOGIES THAT ARE SUSTAINABLE
THE POOR CAN BE PUT ON THE PATH OF ECONOMIC GROWTH WITH
NO MORE THAN A VERY MODEST REDISTRIBUTION WITHOUT
EMPHASISE ON THE POLITICAL POWER AND RESOURCES CONTROLL
ENGGAGE BY THE RICH NATION
Part II
THE CASE FOR ELIMINATING WALL
STREET
 WHAT WALL STREET REALLY WANTS
The Wall Street money game is a power game, a26
game as old as empire!
Wall Street corporate interests provided the money
and largely controlled the real agenda.
To restructure the US economy, the goal was to
make finance the economys dominant and most
profitable sector.

Leveraging (Borrowing) named as Wall Street

game.
W Wal l
Str
Combination of complex derivative instruments,Cap e et r u
ga in tu r e t
creative accounting tricks, & capacity to create
le!
s , h e
money from nothing by issuing loan from r i s k t o p a s s t h
ot he e
phantom assets r s!!
!

Engaged in class warfare pure and simple.

Control of the money supply and its political influence
to ensure that Wall Street players benefits of
productivity gains.
The Wall Street money game is a power game, a game
as old as empire!
USE POLITICAL (GOVERNMENT) TO COVER AND MAINTAIN
CREATION AND ALLOCATION OF THE MONEY.

WALL STREET ONLY CARES FOR NOTHING BUT ACQUIRING

MONEY AND POWER BY ANY MEANS AND NO LIMIT TO IT.
WALL STREET RULE: CAPTURE THE GAINS,
PASS THE RISK TO OTHERS AND MAKE IT
LEGAL'S.

GAME EXAMPLE : GIVE

LOANS FOR GAMBLING.
ISSUING LOANS TO CREATE
PHANTOM FINANCIAL.
BUCCANEER PRIVATEERS
A COLORFUL NAME FOR PIRATES TO WHOM A KING
PIRATES OF OLD. TODAY, GRANTED LEGAL IMMUNITY
WALL STREET HEDGE IN RETURN FOR A SHARE OF
FUND MANAGERS, BOOTY. TODAY WALL
CURRENCY TRADERS, STREET BANKS ARE
SPECULATORS ARE THE COMMISSIONED
BUCCANEERS. PRIVATEERS.
CONTINUING VIOLENCE AND CHAOS LED TO A YEARNING FOR
MONARCH WITH POWER TO RESTORE ORDER WITHIN STABLE
BORDERS RISE FOR MODERN ERA.

MISSION WAS TO EXTRACT PHYSICAL WEALTH, EXECUTION OF

RULERS, SLAUGHTER AND ENSLAVEMENT OF NATIVE
INHABITANTS AND TO SHARE A PORTION OF SPOILS WITH
SOVEREIGN.
THE COMPETITION FOR FOREIGN SPOILS AMONG EUROPEAN
POWERS LED TO ELEVATION OF LEGALIZED PIRACY.

IN 1856, MAJOR EUROPEAN POWERS DECLARE PRIVATEERING

IS ILLEGAL.
MOVING TRILLION OF DOLLARS IN SECRET
TRANSACTIONS & CANNOT EXPLAIN
WHERE THE MONEY COME AND GO.

USING FANCY ACCOUNTING TO CREATE

PHANTOM ACCOUNTING

THE MONEY SUPPLY EXPANDS FASTER THEN

THE PRODUCTIVITY.

GAME : GROWTH INCOME GO TO MANAGERS

& SHAREHOLDERS AS RESULT THE NUMBER
OF JOBS WILL DECLINE AND
UNEMPLOYMENT WILL INCREASE.
 ERA OF EMPIRE 5000
YEARS AGO WHERE THE
RULERS WERE KINGS AND
EMPERORS WHO
WIELDED THE POWER OF
THE SWORD.
TODAY WALL STREETS
RULE BY THE POWER
OF MONEY AS AN
EXTENSION OF THE
ERA OF EMPIRE.

NOW THE RULER IS

CORPORATE CEO AND
HEDGE FUND
WALL STREET ONLY CARES ABOUT MONEY BY
USING PHANTOM WEALTH

USING ANY PLATFORM TO MAKE MONEY

EFFORTLESSLY AND CREATE PROCESS TO
BECOME LEGAL
PUBLICLY TRADED LIMITED LIABILITY
CORPORATION OF GIGANTIC SCALE NOW OPERATE
WITH SUBSTANTIAL IMMUNITY FROM LEGAL
LIABILITY AND ACCOUNTABILITY.
WALL STREET BUCCANEERS AND PRIVATEERS
SEEK SELF-ENRICHMENT.
Part III
AGENDA FOR A REAL-WEALTH ECONOMY
 3.1 WHAT PEOPLE REALLY WANT

Our common dream

healthy, fulfilling life, happy children, loving families and
caring community within a beautiful, healthy natural
environment.
When we get the indicators wrong..
Using gross domestic product (GDP)
- GDP is measure of the cost not the benefit of economic
activity.
Getting the indicators right.
Stop using GDP and start using
happy planet index.
 Two indicators:
1. Life expectancy simple objective measure of physical
health.
2. Life Satisfaction happiness

The denominator ecological footprint

The formula: life expectancy X life
Happy planet index satisfaction
= Ecological footprint

It uses only real-wealth indicators

Real wealth economy is not the sole province of private capital.
But it is an aggregation of contributions by private capital,
government and civil society each in proper balance
 3.2 ESSENTIAL PRIORITIES

PRINCIPLES FOR HEALTHY LIVING SYSTEMS

Self organize into dynamic, inclusive, self reliant

communities of places
Balance individual and community needs and
interest

Practice frugality and reciprocity

Reward cooperation

Optimize the sustainable capture and use of energy

and matter by adapting to the specific details of
the microenvironment

Form and manage permeable boundaries

Cultivate diversity and share knowledge

 3.3 LIBERATING MAIN STREET

12 POINTS AGENDA
FOR
LIBERATING MAIN STREET
AND BANISHING WALL
STREET
TO THE DUSTBIN OF
HISTORY
AGENDA NO.1
REDIRECT THE FOCUS OF ECONOMIC POLICY FROM GROWING
PHANTHOM WEALTH TO GROWING REAL WEALTH

You Get What You Measure

Measure Result
Health of the economy Maximizing corporate profits
over optimizing the health of
population
Pure Economic activity (GDP)

Promote phantom wealth over real

wealth

Happy Planet Index (Life Satisfaction x Life Expectancy/Ecological Footpr

School Attendance Divorce Rate

Graduation Rate Number of Single Parents
Percentage of locally Incarceration Rates
owned businesses
AGENDA NO.2:
RECOVER WALL STREETS UNEARNED PROFITS, ASSESS FEES AND
FINES TO MAKE WALL STREET THEFT AND GAMBLING UNPROFITABL

Legislate a prohibition against selling, insuring or

borrowing VS assets that dont really own.

Limits on leveraging by financial institutions:

establish reserve and capital
requirements for insurance businesses

Real investor commits funds to create and growing

business
AGENDA NO.3:
IMPLEMENT FULL-COST MARKET PRICING
MARKET EFFICIENT

Full cost of its production

and use

externalities like ecosystem health

from worker to the consumer to the
environment

Corporate Welfare
ELIMINATE

Corporate tax loopholes

AGENDA NO.4:
RECLAIM THE CORPORATE CHARTER

The corporate charter should be periodically reviewed

and removed.

Political rights belongs to people not artificial legal

entities

Corporation should be prohibited to influence

elections or legislation.

Eliminate all tax exemptions for corporate

expenditures: lobbying, public education, public
charities.
AGENDA NO.5:
RESTORE NATIONAL AND ECONOMIC SOVEREIGNTY

Citizens have a right and responsibility to

control their own economic resource,
determine their own economic and social
priorities.

Corporations should be allowed to operate

business in any country, free from restriction
and able to extract at will.

Trade between nations must be in balance.

AGENDA NO.6:
REBUILD COMMUNITIES WITH A GOAL OF ACHIEVING
LOCAL SELF RELIANCE IN MEETING
BASIC NEEDS

To root economic power in communities within a

framework of local self reliances so that :-

Create strong Balance

incentives for each consumption,
community to population,
adapt itself to and finite
living within natural base
its environmental
means

System of fair trades where localities exchange their

surpluses to mutual benefit

Each community must mediate exchanges within their

boundaries
AGENDA NO.7:
IMPLEMENT POLICIES THAT CREATE A STRONG BIAS
IN FAVOR OF HUMAN SCALE

No monopolies

Economy dominated by global corporation

Markets more responsive by many small

firm
rather than by one or a few large firm

Human- scale enterprises tend to

encourage relationship based on mutual
trust and respect
AGENDA NO.8:
FACILITATE AND FUND STAKEHOLDER BUYOUTS TO
DEMOCRATIZE OWNERSHIP

Those who own, rule

Democracy is strongest when people own the

homes they live in, and when they have direct
ownership stake in the assets on which their
livelihood depends.

When income and ownership are equitably distributed:

Market allocates efficiently
Respond to the needs of many rather than the wants of
the few.

Public policy could require a corporation that decides

to sell or close a local plant.

Government oversight could structure worker and

community buyout so the workers and communities
have real control.
AGENDA NO.9:
USE TAX AND INCOME POLICIES TO FAVOR THE
EQUITABLE DISTRIBUTION OF WEALTH
AND INCOME
An equitable society is likely
to enjoy greater health and Equity is an essential requiremen
Happiness even at lower of sociality efficient market
overall income levels. allocation

Taxes should be
Equity doesnt mean eliminated
everyone has the on incomes up to the level
same required for basic needs
income

e.g Estate above 1 million

dollars should be taxed at
50% & inheritance or trust
income should be taxed to
the receiving individual
e.g personal charitable
contribution should be
fully exempted
AGENDA NO. 10:
REVISE INTELLECTUAL PROPERTY RULES TO FACILITATE THE
FREE SHARING OF INFORMATION AND
TECHNOLOGY

Information is non depleted and increases real

wealth value when widely shared.

Not to eliminate intellectual property

rights but to encourage free
sharing.
To make best decision:
buyer seller must be fully informed
AGENDA NO. 11:
RESTRUCTURE FINANCIAL SERVICES TO SERVE MAIN
STREET

Banks serve community needs.

Treasury Department should take control
of failed banks.
These new banks would operate.
Merge between banks.
AGENDA NO. 12:
TRANSFER RESPONSIBILITY FOR ISSUING MONEY TO
THE FEDERAL GOVERNMENT

Critics
of our present money-debt
system.
The common objection to such
proposals.
Therisk that government will abuse its
money-creation powers.
Under the government-issuance
scenario.
 3.4 REAL WEALTH FINANCIAL SERVICES

Dealing with
Consumer Credit
Limited place in the New Economy for
consumer credit.

A real wealth economy is a pay as you go economy

that discourages borrowing to cover current expenses.

Retirement

We must change the

retirement age as part of a larger real
wealth restructuring of the economy and the
workforce.
We need to remain active contributors to the real
wealth economy for as long as we are able.
 Insurance does not lend itself to a pure private-profit
maximization approach
The temptation is simply too great to identify and exclude
the high risk individuals who most need help, and to pocket
the premiums and skimp on the reserves required to pay
claims

We must also look upstream to address the root causes of

why
insurance is needed in the first place
 3.5 LIFE IN A REAL WEALTH ECONOMY

More than modest distinction between the richest

and the poorest in term of income, asset ownership,
size of residence and consumption.

Each families own their own homes and have

ownership stake in one or more businesses in their
local economy.

Allow everyone ample time for family, friends,

participation in community and political life,
healthful physical activity, learning and spiritual
growth.
Measure wealth and well being by indicators
of health and sustainable productivity.

Business are human-scale, locally owned and

dedicated to serving the people of the
community.
 Everyone is connected
via a global electronic
Communications network.

Suicide, divorce , abortion and

teenage pregnancy are so rare that
when they do occur, people will find
ways to avoid it.

People respect their politician for

their wisdom, integrity and
commitment to the public good.
 CONCLUSION
Real Wealth Is . . .
The conventional view of wealth is money, possessions,
and property. But the real wealth of a nation consists of
the contributions of its people and nature. So, we need what
we haven't had: an economic system that gives visibility and
value to the work of caring for people and our Mother Earth

In order to achieve a real wealth economy, we need to have: -

Awareness of the profound gap between human reality and
human possibility.
Awareness of the human spirit , to realize a just and
sustainable world.
Collective means to make the above-mentioned vision a
reality.
Responsibility to do everything within our means to actualize
that possibility.
Part IV
Chapter 14 Chapter 15

CHANGE THE STORY,

CHANGE THE WORLD.
Part IV:Change the Story, Change the Future
CHAPTER 14: AN ADDRESS TO BE DELIVERED TO THE NATION

To strive for local and national food independence as

well as national energy independence.
To assure that our future trade relations are balanced
and fair.
To rebuild our national infrastructure.

To rebalance the distribution of wealth to create a

strong middle-class society.

To assure access by every person to quality health

care, education, and other essential services.

To restore progressive rules on taxation, wage and

benefit.
To create true ownership society.

To have economic policies that will favour responsible

local ownership.
Part IV:Change the Story, Change the Future
CHAPTER 14: AN ADDRESS TO BE DELIVERED TO THE NATION

CONCLUSION
To change the story and change the future: -

Replace a global system of economic

competition with a global system of economic
cooperation.

Work to protect the rights and health of working

people as well as the environment.

Clean up the monumental mess left by the

previous administration.

Recruit the most competent and experience

people.
Part IV:Change the Story, Change the Future
CHAPTER 15: WHEN THE PEOPLE LEAD, THE LEADERS WILL FOLLOW

People must show the way: -

Through conversation that built a social

consensus around a new story.

Through actions that created new reality.

Discredit the cultural stories on which the

old way rest and replace them with new
cultural stories.

Achieve full independence from Wall Street.

Create social space.

Shop at local independence store. 59

Purchase local goods.

Part IV:Change the Story, Change the Future
CHAPTER 15: WHEN THE PEOPLE LEAD, THE LEADERS WILL FOLLOW

CONCLUSION
People will lead: -

Through the power of conversation.

Every powerful movement for transformational social change begins with a

conversation.

The power of civil society holds the upper hand.

The power of authentic stories ultimately could trump the power of state
and corporation.

The power of popular movements resides in their ability through dialogue.

60
61
CONCLUSION
63