Session 6: The Emerging New Economy – Summaries of Korten and Schor

Posted March 26, 2011 in Curriculum, Learning. Tagged: , ,


Read Aloud

Living In A New Economy


From David Korten, Agenda for a New Economy

We do, in fact, have the means to create an economy that fulfills six criteria of economic health.  Such an economy would:

1. Provide everyone with the opportunity for a healthy, dignified, and fulfilling life.

2. Bring human consumption into balance with Earth’s natural systems.

3. Nurture relationships within strong, caring communities.

4. Honor sound, rule-based market principles.

5. Support an equitable and socially efficient allocation of resources.

6. Fulfill the democratic ideal of one-person, one-vote citizen sovereignty.



From Juliet Schor, Plentitude: The New Economy of True Wealth

Ways to Get to the New Economy:

SHIFT OUT OF THE WORK-AND-SPEND-CYCLE:  Our households and communities must shift out of the market of the past and into undervalued sources of wealth:  time, creativity (especially ecological knowledge) and social relationships.

DIVERSIFY:  Households will diversify our sources of income and ways of meeting our consumption needs, by reducing time spent in the “business as usual” economy.

LOCAL AND SMALL SCALE:  The jobs of the future will be generated by the innovative and dynamic small-scale sector of small businesses and self-employment.


Changes in Our Lives in the New Economy

TIME:  In the new economy, we will use our time very differently.  We will make, rather than buy; share, rather than spend; and build social relationships.

HIGH-TECH SELF-PROVISIONING:  Instead of working in the labor market for money to buy things, we’ll spend more of our time meeting our own basic needs, using new technologies that make self-reliance easier.

CONSUMING DIFFERENTLY:  The new consumption includes accessing “new-to-you” products, sharing expensive items such as cars and appliances, and making careful purchases of long-lasting goods.

CONNECTION:  People who have strong social connections, or what’s called social capital, fare much better when times get rough.