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T‑38s pro­duc­ing shock­waves, NASA, 2019

We need an alter­na­tive to our cur­rent eco­nom­ic sys­tem that’s based on self-inter­est and exploita­tion. Restruc­tur­ing our eco­nom­ic inter­ests and exchanges around well­be­ing will guide us in an advan­ta­geous direction.

To weath­er uncer­tain­ty, we can become more agile by ditch­ing the assump­tion that more is always bet­ter. We can learn to more deft­ly nav­i­gate our needs for each present moment by adopt­ing a more con­text-spe­cif­ic deci­sion-mak­ing process in place of dog­mat­i­cal­ly-rigid inter­ests. Wise, eco­nom­ic deci­sion-mak­ing ulti­mate­ly has much to do with select­ing var­i­ous fac­tors that con­tribute to well­be­ing in real-time and for the long- term.

Ergod­ic­i­ty Eco­nom­ics refers to a more even­ly-dis­trib­uted form of eco­nom­ic pro­to­col. An ergod­ic process hon­ors a whole-sys­tems approach, in that any sam­ple with­in a process, rep­re­sents the process in its entire­ty. The sig­nif­i­cance of this dynam­ic form of eco­nom­ic frame­work is that it pri­or­i­tizes how col­lec­tive ben­e­fit increas­es over time when risk is mit­i­gat­ed by a greater engage­ment in shared resources and cor­re­spond­ing dimin­ish­ment in self-inter­est­ed pri­or­i­ties.33

ISS com­pos­ite star trail, NASA, 2012

The New Econ­o­my move­ment has grown large­ly out of var­i­ous indi­vid­u­als and orga­ni­za­tions in North Amer­i­ca striv­ing to pri­or­i­tize human well­be­ing over eco­nom­ic growth. This alter­na­tive to the cur­rent econ­o­my arose in response to the finan­cial cri­sis and reces­sion of 2008–2010. The pri­ma­ry goal of this move­ment is to over­come the widen­ing dis­par­i­ties between rich and poor with­in cap­i­tal­is­tic soci­eties. Food co-ops and state-owned banks are a cou­ple of exam­ples of how this move­ment looks to cre­ate more altru­is­tic alter­na­tives to the mod­els we cur­rent­ly have. Col­lec­tive own­er­ship cre­ates a greater sense of shared des­tiny and pro­motes greater respon­si­bil­i­ty among par­tic­i­pants. The more that stake­hold­ers are involved and pri­or­i­tized instead of share­hold­ers, the more that resource deple­tion is mit­i­gat­ed and wealth is shared. We believe in the impor­tance of scal­ing this idea from small col­lec­tives to large cor­po­rate enti­ties as a means of repo­si­tion­ing busi­ness as a pro­po­nent of pos­i­tive change.

Before humans cre­at­ed our cur­rent econ­o­my, they engaged in a gift econ­o­my. In a gift econ­o­my, goods, ser­vices, and expe­ri­ences are exchanged with­out any mon­ey or expec­ta­tion of return. Envi­ron­men­tal­ist Charles Eisen­stein has writ­ten exten­sive­ly about the his­to­ry of eco­nom­ics, cit­ing ear­ly exam­ples of the gift econ­o­my in his book Sacred Eco­nom­ics:

“While gifts can be rec­i­p­ro­cal, just as often they flow in cir­cles. I give to you, you give to some­one else…and even­tu­al­ly some­one gives back to me. A famous exam­ple is the kula sys­tem of the Tro­briand Islanders, in which pre­cious neck­laces cir­cu­late in one direc­tion from island to island, and bracelets in the oth­er direc­tion.” — Charles Eisen­stein, Sacred Eco­nom­ics, Chap­ter 1, The Gift World 34

Eisen­stein him­self prac­tices the mes­sage he advo­cates in his writ­ing. When he’s invit­ed to speak­ing engage­ments he receives a form of pay­ment for trav­el and expens­es yet does not demand a spe­cif­ic mon­e­tary fee. Orga­niz­ers are encour­aged to pay him what they feel is fair, as a means of prac­tic­ing gen­eros­i­ty and what he calls “liv­ing in the gift”.

Every day presents oppor­tu­ni­ties to prac­tice think­ing about what you might want to give to some­one else, or to your com­mu­ni­ty. We can reclaim what worked in our past for the pur­pos­es of com­mu­ni­ty build­ing and col­lec­tive wealth. Aid­ed by this wis­dom, we can remake economies for a more gen­er­ous future and an all-around more robust existence.

“Last Resort”, an imag­ined Hong Kong dystopia by Kelvin Ip
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