Downsizing Finance: The Mother of All Bubbles

In this column, Hazel Henderson, a futurist and economic iconoclast who is the president of Ethical Markets Media (USA and Brazil) and creator of the Green Transition Scoreboard, writes that economism must be defrocked as obsolete and a failed ideology.

ST. AUGUSTINE, Florida, Sep 9 2013 (IPS) – As our climate destabilises, floods inundate cities, wildfires burn forests, droughts kill our crops and manmade radioactive isotopes leach into our soil and water, many accountants and policy analysts are waking up. They are joined by NGOs, civic leaders, whistle-blowers and a few public-minded politicians.

The big message is that the deep but false philosophy of “economism” and its narrow, outdated dogmas are the hidden virus spreading financialisation and its social and ecological destruction.