Speaking Plainly - A New Agenda for the 21st Century Bruce Nixon, Independent Management Consultant

The greatest challenge of the 21st Century throughout the world of whom 85% live on will be to change the value system $5.98 per day (World ) and one billion underlying the global economy so as to on less than a dollar. Of course, the make it compatible with the demands of terminology is wrong. It is not globalisation human dignity and ecological that isn’t working. Globalisation has existed Fritjoff Capra for centuries and has brought rich benefits to humanity. It is the economic system, the What if we discover our present way of life doctrine of free market capitalism, is irreconcilable with our vocation to consumerism and continuous economic become fully human? growth - some people call it Global Paulo Freire Monetocracy (Madron, R and Jopling, J, 2003) - that is not working. Over two Problems cannot be solved at the same level hundred years ago, Adam Smith, supposed of consciousness that created them. author of this doctrine, warned of the Albert Einstein dangers of unfettered free trade.

We are becoming enmeshed in a vicious We face a global crisis. We have no idea circle of escalating violence. how close we are to upsetting the current George Soros equilibrium – but we are risking ecological change, which could be massive, It’s a wonderful World, full of possibilities. unpredictable and irreversible. The For many people, especially in the West, life international, social, political and economic has improved immeasurably compared with situation is equally unstable. a few generations ago. This is what is happening: But let’s speak plainly: globalisation isn’t working – not at least in its present form. • The Environment. We fac e an Globalisation works (though perhaps not at environmental crisis. Climate change is a spiritual level) for a tiny minority of very already a major threat. Extreme weather rich and powerful people but not for the and instability are increasing. Seas are mass of the 6 billion human beings rising. Biodiversity and the ecological

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system are severely affected. GM is a and public health education could save further threat to this system because its more lives for less cost. consequences are unpredictable. Species and forest habitats are declining and • Poverty. The period from the 1930’s until disappearing rapidly. Pollution is on a the Eighties was a relatively benign one in massive scale and we barely understand which the gap between rich and poor was the consequences, particularly in causing closing. Life got better for all regions of diseases. There is growing water scarcity. the world. But, for the past 20 years, for If every country on the planet followed most people in the poorest countries, the example of the American lifestyle, the things have got worse. Absolute poverty is consequences would be horrific. The rising across the globe. For instance, in American way of life, copied throughout sub-Saharan Africa people on average Europe and the developing world, is became 10% poorer between 1980 and unsustainable. Continuous economic 2000 – and this is at least partly as a growth is unsustainable. For example, result of their involvement in the global USA, with only 4% population, uses economy. This is true for a wide range of 42% of the in world’s motor gasoline and indicators – progress on infant mortality, creates 25% world’s pollution. The access to clean water, life expectancy and richest and most powerful nation has a so on have been far slower than during record of blocking attempts to reach the previous two decades. Today the gap global agreements, like Kyoto. The between rich and poor within and scientific consensus is that gas emissions between nations is growing dramatically. need to be cut 60% by mid-century. If Kyoto is implemented, they would still GDP is a poor measure of progress and rise by 30% in the next 10 years. human welfare. Richer is not necessarily happier. There are better measures such • The focus is on making money rather as the Index of Sustainable Economic than meeting human needs. For example, Welfare (ISEW) constructed by the New until sustainable sources of energy Economics Foundation. Until about become a major moneymaker, the 1974 ISEW kept up with GDP but since emphasis remains on oil exploration and then it has steadily fallen the foreign policies and wars necessary to secure oil supplies. Given the current We are creating a world in which there is global financial system, there is little a small minority of extremely rich and alternative. The same dynamic applies to the mass of people who are poor and everything else — food, drink, insecure. Africa is the extreme case. transportation etc. One of the fathers of Poverty and inequality are major gene technology, Professor Sydney problems in USA. The chief beneficiaries Brenner, a Nobel Prize winner, has urged of Bush’s tax cuts are the very rich who the government to spend less money on are 10% richer as a result. Meanwhile genetically tailored medicines - and more Wal-Mar t ’s new recruits are handed on public health education. He told BBC leaflets on how to obtain government Radio 4 News, 2-9-2003, that genetic food stamps while the founder’s five drugs research was simply putting profits children are the richest single family into the hands of pharmaceutical firms - on Earth.

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The policies of the World Trade countries - e.g. the production of crops Organisation, World Bank, IMF, and for export, at the expense of local GATTs (see below) have been disastrous consumption, and oil production in for poor nations. They have largely Africa - increases rather than decreases benefited trans national corporations poverty and undermines the existing (TNCs). Trickle down theory and the society. Efforts by TNCs to patent plants doctrine of free trade have not worked for and ancient remedies, alongside their poor people or poor nations. Free trade, policies on intellectual property rights accompanied by huge subsidies for and drugs hinder development and the producers in rich nations such as USA eradication of disease. The system also and Europe, is not . Adam Smith undermines small businesses in developed never advocated such a system. The debt countries, worsened by the high costs of burden and effects of restructuring on borrowing and bank charges. which have been conditional, have led to absolute deterioration in education • Unfair Trade and Global Institutions. The and health services and basic services WTO was originally set up to provide a such as water supply. Privatisation of forum for negotiating tariffs and import these services has increased their cost and quotas. But now its scope has greatly often led to lower standards. expanded to cover internationally binding Amongst the many consequences for the agreements on intellectual capital and West are economic migrants and the services (healthcare, education, water illegal trades in women and children. supplies, banking, tourism). The WTO treats these primarily as economic issues, • Global sourcing and agribusiness. Global not as essential for the public good. The sourcing adds greatly to environmental doctrine of global institutions is free problems because it depends on trade, not fair trade. transportation that pollutes the environment. Supermarkets, wonderfully The WTO, World Bank, IMF, and GATTs convenient and offering abundant choice, agreements dominate the way the global play their part in destroying local food trade system works. They are production, local businesses, local undemocratic and dominated by the rich infrastructure and livelihoods. nations. Poorer nations have been unable Agribusiness is a major source of to afford the considerable costs of environmental degradation, destruction of attending or representation. Often they diversity and pollution. Major costs of are bought off. Bush recently used aid these businesses are exported in the sense and trade to bully small states into that consumers and governments financed supporting his policies in the UN. The by consumers pay for the environmental UN has been sidelined. and social consequences (e.g. clean-up, unemployment, compensation, disease, Aid, loans and debt relief for poor unrest, asylum seekers, economic countries are conditional on structural migrants and defence). This applies to the adjustment programmes, which mean food and drinks manufacturers too. cutting public expenditure, privatising There is plenty of evidence that and opening up their public services to development by TNCs in Third World foreign companies. They do not have

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freedom to manage their affairs in their Main political parties cannot offer own way or to protect their cultures and electors much difference. Differences have fledgling industries. narrowed. To have any chance of power, Whilst poor countries have to open up they can only offer very restricted their markets, producers in rich nations alternatives. In advanced democracies, are protected and heavily subsidised. The this may be a factor in the decline of irony is that rich nations, who grew their turnout at elections, decline in party own industries through protection, by membership and the growth in activism demanding the removal of trade barriers and membership of NGO’s. and heavily subsidising their own producers, are destroying the productive • Death and Disease. We are killing capacity of poor countries and ourselves and causing avoidable disease impoverishing their people. Unfortunately and injury: pollution in all its forms, the history of efforts to put things right, unhealthy lifestyles, food and drinks – is one of obstruction and unfulfilled obesity is growing rapidly and storing up promises. Despite all the campaigning, huge health problems – smoking only about 15% of Third World debt has (120,000 deaths in UK per year), been cancelled. excessive alcohol consumption (alcohol related death and disease cost the • Democracy and the power of TNCs. National Health Service (NHS) £20bn National democracy is undermined by an annually) and road accidents (3000 unhealthy relationship between big deaths per day worldwide, 25M in the business and government. Bush speak of past century). It is as if there is an “freedom loving peoples” has a hollow unhealthy collusion between businesses feel about it. Is he really talking about creating unhealthy life styles, the food, freedom for big business? Corporations, drinks and tobacco manufacturers and especially in America, play too large a the pharmaceutical and medical part in elections, partly through control industries — the former making money in of sections of the media, partly by ways that contribute to disease and financing the large costs of political untimely death; the latter doing so campaigning. Bush’s second term election through researching and producing fund is expected to reach $200M. remedies and expensive technology rather Presidential candidates with the most than research into causes and prevention. money have consistently won up to now. There is more money in medicine than The current UK vogue for privatisation, prevention. Health services are breaking PPPs and PFI contributes to the closeness down under the strain – road accidents of business and government. cost the NHS a quarter of its budget and alcohol related death, injury and disease But perhaps the greatest threat to half - and the escalating costs of a policy democracy is the power of money that focuses on treatment rather than markets and global institutions. National prevention. governments cannot risk policies that will result in the withdrawal of investment in • War and Civil War. Millions have died their economies. and been seriously injured in war, genocide and civil war in the 20th and

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early 21st centuries. Civilians, children Mergers and larger and larger especially, have suffered as a result of organisations result. There is no evidence scatter bombs, un-disposed bombs, shells that these larger organisations perform and mines. The effects of depleted better, are more efficient in meeting uranium warheads are unknown. The customer needs or are better places to We st ’s so-called defence business is huge, work in. On the contrary. Good much of it supplying oppressive regimes companies are often taken over by foreign and civil wars. USA spends $400BN on owners and later closed down. This can its armed forces, annually. It is by far the result in much suffering, especially if largest item in its budget. The US defence pension obligations are negated. The budget exceeds the total defence pressure on performance, together with expenditure of all other nations the poor returns on equities, is one of the combined. £200BN is being spent on the factors in the closure to new members of “war on terror”. Surely this money could over half UK final salary pension be better spent? A real war on terror schemes. Market pressures also would be both a radical policy of contribute to enormous pressures on undoing injustice and intelligence people and insecurity. They are one of the focused. The vested interests in munitions major causes of stress and oppressive, are enormous — jobs, suppliers and unsustainable working conditions at all money. It seems that an underlying cause levels. Hours for working people have of the war is often securing economic increased after many years of reduction. interests, particularly oil. It is not uncommon to find people in the City working 12-hour days with 12-hour • The instability and power of financial contracts too. Not surprising that half markets. £2 trillion per day cross the UK marriages end in divorce. world’s computer screens, only 3% of which has anything to do with world • Greed and corruption – what’s the trade. This is a major cause of instability. difference? Corruption in Africa is a There are proposals for taxing (Tobin tax) major cause of poverty. Yet corruption in the huge earnings from these movements the USA in the form of corporate and for regulation. scandals is equally large – Enron, Andersens and now Boeing has broken • Stock exchanges exercise tremendous new ground in industrial espionage. It has power and exert strong pressures on been argued recently that USA, alongside companies to perform in terms of profits Africa, leads in the corruption league. and share value. CEOs feel under There is growing outrage in UK about the pressure from investment analysts to excessive pay packages of directors and focus on short-term returns or risk being CEOs, including pay offs to those who fired or their companies taken over. This are deemed to have failed. Many CEOs encourages under investment in the have a short tenure. There is an ethos of future. Yet research indicates that overpaid, charismatic, celebrity CEOs sustained performance comes from a which dis-empowers people. While long-term focus (Collins J. and Porras J, insolvency administrators of Kroll are 1996). The pressure to perform also leads paid large fees, asbestos sufferers to attempts to dominate the market. formerly employed by closed Turner and

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Newall, and their widows wait for To sum up, the current economic system compensation from dwindling resources. turns us all into slaves! For these and many other reasons, there is a crisis of confidence in big business. Yet I am very hopeful. Business is perhaps Many creative and talented people just the most important force for benign want to get out of corporate life as soon change. Ways forward will emerge. But for as they are in a position to do so. Women this to happen, we need to be fully face the in particular tend to take this view, partly situation and not be complacent or hide because of continuing discrimination and from the reality. I believe most leaders, both the men’s club politics. Women tell me corporate and political, are decent people they think male colleagues often have low trying to do their best in a complex and emotional intelligence. very difficult situation. Most want to make money by doing good, adopting socially • Public services increasingly can’t cope. responsible, sustainable policies and This is partly because of the extent to meeting human needs. A few find an ethical which businesses export or dump the niche and succeed by doing so. There is a costs of the social and environmental constant stream of beneficial innovations. problems they create on the public, the Large numbers of benign books, most taxpayer. E.g. Alcohol related problems written by US CEOs, testify to their cost the NHS £20bn annually; tax raised enlightened approaches. But the odds are £7bn; value of sales £30bn. against them. Given the system in which companies operate, it is naïve to suggest Another factor is politicians not that the majority of companies can operate understanding how organisations are best in this way and radical innovations are led or how they change and adapt — they unlikely to become mainstream for a very try to control them from the centre and long time unless the situation gets adopt a left brain approach – reliance on dramatically worse. numbers, targets, new initiatives and structural change. They also need to To make progress we need to see the involve and enable people who system. understand the business at a grass roots level in co-creating the necessary Seeing the system. It helps to see all these improvements. issues as opportunities. But we need to address them at a systemic level. The Another is the cost of borrowing for problems are massive and we are suffering investment in the renewal and escalating consequences. Problem solving development of public services and alone will not work – a systemic approach infrastructure and an uncritical belief in is needed. The system is the problem. We privatisation, not necessarily more cost have created the system and we can change effective, and PPP and PFI. Certainly PPP it. Amongst the obstacles are lack of and PFI can bring rapid results but it may awareness, vested interests in the status be a long time before we find out quo and the pain of change. But these whether they are good value. We need to difficulties have been overcome many times be open to fresh options too — more in human history and there is growing about this later. awareness that things are not working

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and why. humans into obsessive consumers.

No one can fully understand this complex • Obsession with GDP as a measure of system but here is my best understanding of progress rather than meeting human the key elements: needs, and supporting human dignity.

• The underlying value that moneymaking, • Almost all the money we use (except the profit, share value, market share and size, 3% which is notes and coins) is created should always be valued more highly than by commercial , who charge human needs and rights, democracy and interest, not by central banks and the environment. (Capra, F, 2002). government. A number of innovative Power, wealth and consumption are thinkers (e.g. Rowbotham, M, 2000, closely linked to our model of what it is Madron, R and Jopling, J, 2003 and El to be a successful male. A big part of Diwany, T, 2003, Robertson, J and Bunzl, male consciousness includes belief in J, 2004) are looking afresh at the debt- heroic top down leadership. It includes money system and arguing it does not the notion of being right, despite what have to be like this. The need to earn many people think, and that problems enough to repay large amounts of interest can be solved by violence and war. We all and debt is at the root of the economy’s suffer as a result of the male belief system pursuit of continuous and unsustainable that values power and domination. economic development. This impoverishes Patriarchy not only harms women and us all in the broadest sense – not just the denies them their proper place but, as money but the pressure and distortion of Jane Fonda says, “Patriarchy is fatal to life style. They challenge the need for the hearts of men, to empathy and money to be provided by banks, as relationship”. Patriarchy is incompatible opposed to governments, particularly for with democracy too. This male energy investment in public services — such as may have served us in the past. Surely, transport, health, education and right now, we are learning that it is not necessities such as water and affordable working in our time? housing — and small businesses. They advocate no interest or low interest loans • Racism and lack of respect for difference instead. Governments can create money if are at the root of the system. This enables they want to. These ideas are not new. us to justify mistreatment and Similar ideas on money were espoused, exploitation of others who are different. for example, by US Presidents Lincoln, It manifests in the way we value some Jefferson and Franklin. Usury was lives more than others. It extends to lack condemned appreciation of the importance of centuries ago. But think of the vested ecological diversity. interests today!

• The consumer society and glorification of • Company ownership We need to explore material consumption requires the United fresh legal frameworks for company States, in particular, to wield tremendous ownership and financing. There have power to maintain optimal conditions for been attempts to find alternative forms the expansion of production, turning for companies that do not tie them to the

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pressures and unpredictability of the he uses the global system to avoid tax. stock market, and enable them to focus on serving customers (providing good Rabbi Michael Learner and others are value), employees and the community. calling for a new charter for large Examples are the Co-op movement, the corporations especially one that requires John Lewis Partnership, St Lukes them to be granted a license to operate. Advertising (Law, A. 1998), Baxi This would require them to justify their Partnership Limited and the Scott Bader continued license to operate on their Commonwealth. In the USA, ESOPs record in acting with responsibility. (Employee Share Ownership Plans) go far beyond either the state ownership of • “A first step in developing that third path classic socialism or the Anglo-Saxon is to seek A New Bottom Line-so that we model of ownership by stock exchange judge institutions productive, efficient shareholders or pension, saving and and rational not only to the extent that insurance funds. ESOPs in the US cover they maximize wealth and power but also more than 9 million workers in more to the extent that they maximize our than 10,000 firms. capacities to be caring, ecologically aware, ethically and spiritually sensitive, The New Economic Foundation and capable of responding to the universe (www.neweconomics.org) and others with awe, wonder and radical amazement (Shakespeare, R and Challen, P 2002) at the grandeur of creation”. Tikkun recently put forward proposals for the Community, A New Bottom Line at provision of pensions, through investment www.tikkun.org in safe and socially useful People's Pension Funds rather than the stock It is now even more obvious that we, and market. our planet, are all part of an interconnected living system. We are all members of a • Company law needs to be modernised. global community and what happens in The current perception is that the other parts of the world, especially in other primary duty of directors is to cultures and the less economically shareholders — to maximise profit and developed world, affects us. It is dawning share value — rather than all on us that we all have to be world citizens stakeholders such as the environment, if we are to enjoy a sustainable future. society as a whole, local community, Exclusion, lack of respect, injustice and consumers and employees. Under current desperation feed violence. A living system company law, the primary duty of can operate in a punishing way, especially if directors is to the company and its it is exploited and not respected by some prosperity. Corporations have globalised members of it – everyone suffers. – but the rules haven’t. The current response of most Business This leads to all sorts of iniquities. For Leaders is essentially defensive. According example, the Economist recently reported to AON’s European Risk Management & that Rupert Murdoch paid no tax on the Insurance Survey 2002-2003, across £1.4 billion profit he made in the UK Europe, after September 11th 2001, since 1987, because of the way in which business interruption heads the list of risks

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that pose the greatest threat to business. rather than doing harm. But the problem Loss of reputation is seen as the second lies not only with companies but also with biggest. Just over 75% of Europe’s largest the larger trade and finance systems within companies have undertaken a risk which they operate. identification study in the last 12 months for corporate governance purposes. A New Agenda for Corporate Leaders. Contrast this with the finding that only I believe corporate leaders need to take on 22% of companies have a formal the challenge of changing the system. strategy in place to manage brand & Because of its power to change the World, reputation risk. Business needs to take a much higher level of responsibility in the 21st Century! A Barry Coates, former Director of the World different partnership between corporations Development Movement and now Director and national, regional and global of Oxfam New Zealand, described 3 levels government is needed. This is in everyone’s of Corporate long term interests including companies demonstrated by companies: Public interest needs to be elevated to be 1. Saving money though ethical practices something of fundamental importance. The (e.g. recycling, avoiding prosecution) questions of what trade is for and what 2. Ensuring that the company and its trade rules we should encourage need to be products don’t get vilified by taking addressed. Is it to maximise the amount of actions that improve corporate trade? Is it to maximise corporate profits? reputation and protect brands. Or, should it be for improving everybody’s 3. Acting in a socially and quality of life, saving lives and ensuring environmentally responsible way environmental and personal sustainability? because it’s the right thing to do. Ecological limits and the biological systems our planet is based on need to be Increasing numbers of companies are respected. Otherwise we will find that the actively pursuing the first two levels. The irreversible changes we are making will problem arises at the third level because the come back to haunt us in ways that are costs of behaving in environmentally and unimaginably damaging. socially responsible ways soon start to impact the bottom line - and the company There is a danger that CSR (Corporate then gets punished by the market. Of Social Responsibility) becomes just another course some organisations have made a superficial bandwagon, basically more success of taking an ethical stance – for about looking good, rather than doing example the Cooperative Bank with its good through good business. I have argued explicit proposition – but that companies need to be proactive, rather Barry fears that these are niches, which are than defensive, and put human needs and small and may be transient. welfare at the top of their agenda – e.g. food and drinks. To make it easier for Companies will face increasingly harsh business leaders to do this, they need to be consequences unless they stop being active in getting systemic issues addressed. defensive and become much more proactive in meeting human needs, doing good,

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The following agenda is proposed: These are issues for CEOs to campaign on. They need to push for systemic change, not 1. Increase awareness and understanding a piecemeal approach. It is in the long-term how the system is not working, the interests of global society as a whole, damage this is causing and the future including companies, company directors threat to human beings and the planet. and CEOs. The time has come for a We need to make choices from proactive rather than a defensive mode. awareness and consciousness. That is There are already plenty of examples of why I am so interested in trying to see corporate leaders seeing the importance of the whole system. global systemic issues and taking action – we need more. 2. Reform and democratise global institutions such as the UN, the World We have to start where we are and take our Trade Organisation (WTO), World own personal actions – but we must also Bank and IMF. Focus on fair, not free, take opportunities to band together and act trade and the promotion of human strategically. Barry Coates quotes from welfare. George Monbiot has put Alice Walker: forward far-reaching proposals to “Activism is my rent for living on democratise Global institutions the planet (Monbiot, G, 2003). The way human beings learn is messy. We 3. Explore alternatives to the debt-money make "mistakes" all the time. Things system Explore alternative ways of transform whatever we do. All of us play a providing low or zero interest finance part in this process. It is up to each of us, for public services, infrastructure, CEOs as much as ordinary citizens, to environmental projects, small decide what unique part we want to play, businesses and economic development where our energy lies, where our passion in poor and developing countries. will take us and what we will do.

4. Regulate financial markets and explore “Whatever you do may seem insignificant, and implement measures such as the but it is most important that you do it.” Tobin tax. The Tobin Tax proposes a Mahatma Gandhi simple sales tax on currency trades across borders which would discourage There are great disturbances in history short-term currency trades, about 90 which settle down into a new order. percent speculative, but leave long-term Maybe we are at such at time. When things productive investments intact. are not working, a new way emerges. Whilst there appears to be increasing 5. Regulate global corporations. Create a disorder and chaos, perhaps we are new legal charter framework for progressing to greater World order. At the licensing large corporations. same time as there is growing cultural convergence, there is also greater 6. Create a new legal framework for the understanding of the importance of duties of company directors diversity. If we are to understand anything and find ways forward, respect for

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difference and a multi disciplinary Order, Flamingo. approach are needed. Westerners tend to • Robertson, J and Bunzl, J, 2004, think in terms of duality. We need to Monetary Reform - Making it Happen! transcend duality. Maybe too, we are International Simultaneous Policy realising the importance of respect and Organisation, London. www.simpol.org love, if we want a sustainable society for • Rowbotham, M, 2000, The Grip of ourselves and for generations to come. Death, A study of modern money, debt With growing awareness, comes a change in slavery and destructive economics, Jon consciousness and that leads to Carpenter Publishing, Charlbury, Oxon, transformation. UK. • Shakespeare, R and Challen, P, 2002, References and Suggested Seven Steps to Justice, New European Publications and Global Justice Further Resources Movement, • Bunzl, J, 2001, The Simultaneous www.globaljusticemovement.net Policy - an insiders guide to saving • Tobin Tax Initiative; www.tobintax.org humanity and the planet, New • Human Rights Watch www.hrw.org European Publications, London www.simpol.org With thanks to Dr Mike MunroTurner • Capra, F, 2002, The Hidden www.mikethementor.co.uk for his article Connections – A Science for Sustainable on a talk given by Barry Coates, former Living, Harper Collins, London. Director of the World Development • Chomsky N, 2003, Power and Terror – Movement, now Director of Oxfam New post 9/11 Talks and Interviews, Seven Zealand, at the AMED Forum on Stories Press, New York. Globalisation, April 2003 • Collins J. and Porras J, 1996, “Built to Last — The Habits of Visionary Companies”, Harvard Business School Press, USA • Corporate watch; www..org • El Diwany, T, 2003, The Problem with Interest, Kreatoc Ltd, London • Korten, D, 1999, The Post Corporate World, Kumarian Press/ Berrett- Koehler, San Francisco. • Law, A, 1998, Open Minds –21st Century Business Lessons and innovations at St Lukes, Orion, London. • Madron, R and Jopling, J, 2003, Gaian Democracies – redefining globalisation and people-power, Green Books for the Schumacher Society. www.wdm.org.uk • Monbiot, G, 2003, The Age of Consent- A Manifesto for a New World

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