The financial crisis is only one aspect of a much bigger systemic crisis that encompasses the social, financial and ecological crises, says Susan George and suggests radical reforms that would create more just wealth distribution while saving the economy and the environment: an environmental Keynesianism.Could Susan George and I be talking about the same thing?
My point was from a slightly different angle however, that the uses to which people put their money - a collective intelligence diverging between binge spending and that moving toward responsibility is what has brought the crisis about.
The structures that house the new economy need to acknowledge where it sits and where it needs to go.
Equity is key - as Susan George talks about in the video linked to above - the economy needs legs, not only that it needs roots in a sustainable environment.
I'm concerned about references to Keynes however. Keynes produced the General Theory to repsond specifically to his time. Things are different now. Information economy means that there is more emphasis on innovation than before.
What is more, the shift from information to a values-based economy means that even recently developed analytical tools are becoming outdated.
We need a new Keynes. One ready to see what's going on and propose a similarly elegant solution.