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“Toward a generative economy.” Marjorie Kelly on Open Democracy (my high-lights)


“How could corporations be redesigned to incorporate social and ecological aims as deeply as financial aims? (…) You don’t start with the corporation and ask how to redesign it. You start with life, with human life and the life of the planet, and ask, how do we generate the conditions for life’s flourishing? Says Marjorie Kelly (…) Asking corporations to change their fundamental frame is like asking a bear to change its DNA and become a swan.”  Via

“Extractive ownership has a Financial Purpose: maximizing profits. Generative ownership has a Living Purpose: creating the conditions for life. While corporations today have Absentee Membership, with owners disconnected from the life of enterprise, generative ownership has Rooted Membership, with ownership held in human hands. While extractive ownership involves Governance by Markets, with control by capital markets on autopilot, generative designs have Mission-Controlled Governance, with control by those focused on social mission. While extractive investments involve Casino Finance, alternative approaches involve Stakeholder Finance, where capital becomes a partner rather than a master.” Via

“To move from isolated examples toward a fully generative economy, we may need a global movement of citizens, investors, and businesses, both profit and nonprofit, working together to create a pincer strategy – one arm aimed at reforming existing large companies, another aimed at promoting generative alternatives(…) Instead of Commodity Networks, where goods are traded based solely on price, generative economic relations are supported by Ethical Networks, which offer collective support for social and ecological norms.” Via

Other insights on this, shared at the first ForkTalk event

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