How can we take steps towards a New Economy?

by Beth Mylius

The Economics of Happiness Conference discussed the New Economy as a major part of our response to globalisation.

The New Economy is the theme for a number of important writers such as David Korten: Agenda for a New Economy – From Phantom Wealth to Real Wealth, Riane Eisler: The Real Wealth of Nations and Michael Shuman: Local Dollars, Local Sense – How to shift your money from Wall Street to Main Street and achieve real prosperity.

Both Korten and Shuman refer to Main Street as the people’s economy which is a local economy. (Wall Street is the economy of globalization, investment and bankers).

So let us share ideas of the steps we can all take both through the newsletter and in our Community Groups. In the area of banking there is a Global Alliance for Banking on Values. In Australia there is only one bank that is a member of this Alliance, bankmecu, which was set up in 2011 from the Members and Education Credit Union. It is the first customer owned bank in Australia.

Supporting local businesses keeps your money in the local community and builds its resilience.

Riane Eisler writes of the need for a caring orientation:

A caring economics supports caring and care giving on the individual, organizational, social and environmental levels. It takes into account the full range of human needs, not only our material needs for food and shelter but also our needs for meaningful work and meaningful lives.

Please share your information and ideas and help us build a new local economy whether in South Australia, Adelaide or your local area.