Stop Trying to Fix the Economic System:  Re-invent It The world’s economic system is in free fall.  President Obama and his team are hastily applying fixes, hoping they will work, as are world leaders, but no one really knows how to put humpty-dumpty together again.  This started in the U.S. with a mortgage crisis. The first reaction of the Bush administration was to bail-out Wall Street.  It has only occurred to a few that a complete re-invention of our whole economic system is needed. Now is the moment to create a system that works for everyone. David Korten’s New Book is a Must-Read David Korten  has written a new book called Agenda for a New Economy: From Phantom Wealth to Real Wealth (Berrett-Koehler Publishers: San Francisco, CA, 2009), a must read for those of us studying current fiscal events.  This book is particularly important for those starting to see the relationship of money to violence and wondering how to create a sustainable planet, one where people are free to love each other, where everyone can grow into a ripe old age. Wall Street Creates Phantom Wealth–Let it Go With advanced degrees in business from Stanford, and years of experience in business strategy and economics, Korten knows what he is talking about.  The central piece of his thinking is that Wall Street creates phantom wealth.  The wealth the financial industry creates is hollow; it is not based on anything real in the world.  A giant house of cards, built up over the past thirty to forty years has suddenly collapsed.  While large numbers of people in that industry enriched themselves and lived like kings, middle and lower class Americans, and others like us around the world paid dearly for those luxurious lifestyles.

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