[...] have committed myself to ‘social business‘ as the most promising and effective model - for creative entrepreneurs and self-employed [...]
Definitions
Social businesses, according to Dr. Yunus, are to be run as ‘non-loss’ and ‘non-dividend’ operations. Further definitions are taken from the book here.
A one-page summary is here.
‘Climate Capitalism‘ is the term coined by Chris Macrae after Dr. Yunus talked about the way that Bangladesh is being affected by climate change at St. James’s.
Credit without Collateral will mean something to everybody who’s tried to borrow money from their bank.
As the organiser of the Forum for Stable Currencies at the House of Lords, I analysed the data base of the Bank of England for two reports:
- Sovereignty & Seignorage - for a lawyer who addressed the ‘Legal and Economic Challenge of Climate Change’ at the Environmental Law Foundation on October 26th, 2005
- Green Credit for Green Purposes - in response to the inquiry into the Stern report announced on December 14th, 2006 by the Treasury Select Committee. Our submission was published in its entirety as part of the Committee’s Fourth Report on February 5th, 2008.
In line with Dr. Yunus’ principles, I am defining ‘Climate Capitalism’ here.
Social Causes have traditionally been addressed by charities. But capitalism has created new social causes that need addressing and cost money:
‘Mega Poverty’ is my term for what I have heard from ‘bank victims’ on the financial level:
- repossessions by banks
- bankruptcies caused by legal and financial institutions
- over-indebtedness caused by the legal enforceability of debt.
UnJustice is the term that applies to ‘justice victims’ on the legal level:
- physical violence which I have experienced from a Sherriff as he took the keys of my mother’s car out of my hands
- fraudulent sale of houses by Lloyds who acted as Trustee and Executor of Lord Sudeley’s grandmother’s will
- unjustly increased legal costs as I heard from an employee who sued her employer.
We can’t believe in both: ‘official and authoritative institutions’ and the ‘free market’.
‘Social business’ is the only way in which we, as individuals, can make a difference in the face of institutions and their procedures.
Responses
By: One Bank, One Currency, One World Government « Real and “Informational” Bombs on March 3, 2008
at 1:52 pm
“Substitute personal greed with compassion, and the balance sheets will still work out just fine. Profit/loss statements take on a whole new dimension and meaning. Greed and capitalism are not one and the same thing. “Social” capitalism, social enterprise, is perfectly doable. This is the most effective sustainable strategy available for alleviating widespread human suffering stemming from poverty and all that comes with it — up to and including terrorism.”
Terry Hallman
By: Jeff Mowatt on March 4, 2008
at 7:43 am
Many thanks, Jeff, for your quote by Terry Hallman!
I think that we are up against a few regulatory and institutionalised challenges where greed, control and other non-beneficial attitudes need to be replaced so that young people can flourish as entrepreneurs rather than commit suicide or be unemployed and violent…
Let’s join not only our good intentions but also our experiences!
Looking forward to reading more,
Sabine
By: Sabine on March 4, 2008
at 9:29 am
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