TITLE

Beyond Scarcity: A New Story for American Capitalism

AUTHOR(S)
Greider, William
PUB. DATE
June 2004
SOURCE
Journal of Financial Planning;Jun2004, Vol. 17 Issue 6, p18
SOURCE TYPE
Academic Journal
DOC. TYPE
Article
ABSTRACT
The article advocates capitalism in the U.S. to boost the country's economy. If we can step back from the troubled headlines of the day, we can see that a breathtaking new fact of history is upon us. It is so obvious that one hesitates to announce it as news: The U.S. has solved the economic problem. The country has conquered the dark forces of scarcity, hunger and elemental suffering that have stalked societies across the millennia. Basic human needs are now eclipsed by the overflowing abundance produced by modern capitalism. Scarcity need no longer be the central premise of economics. The premise is abundance. The operating principles of capitalism have become dangerously obsolete. The house of economics is due for major renovation, if not a complete tear-down. According to John Maynard Keynes, the economy's purpose is to generate the material basis to support civilization to enable society and citizens to explore the higher dimensions of human existence, to discover the fullest possibilities within themselves. As it presently functions, capitalism encourages human pathologies--embodying irresponsibility as a central requirement in its operating routines. But a new narrative beyond more is beginning to emerge organically within capitalism. Central to this story is the fact that people themselves can make change, despite the inertia of government and the overbearing power of established economic interests. Pioneers in many sectors are showing the way to dismantle or re-engineer the status quo. If they are scattered and marginal, they are nonetheless making real progress. As more people come to understand new options, change will spread.
ACCESSION #
13472870

 

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