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Saturday, April 21, 2012

Can There Be “Good” Corporations? | Marjorie Kelly, YES! Magazine

This article begins by noting "our economic system is profoundly broken" But Kelly writes that "our approach to fixing the economy is broken as well." And that's because we've concluded "our best hope is to regulate corporations and work for countervailing powers like unions."

She describes another approach that's "bubbling up all around us in the form of economic alternatives like cooperatives, employee-owned firms, social enterprises, and community land trusts."

Kelly writes that the emerging alternatives represent an unsung ownership revolution:
This revolution is about broadening economic power from the few to the many and redefining the purpose of economic activity. The aim isn’t to endlessly grow gross domestic product or to create wealth for a financial elite, but to generate the conditions for the flourishing of life.
Kelly calls this new approach a generative economy that "has a built-in tendency to be socially fair and ecologically sustainable."
Options like worker ownership and cooperatives not only spread wealth but ensure that owners are local, hence more likely to care about local ecological impacts. And they allow enterprises to reject the growth imperative endangering the biosphere. 
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