For anyone who has doubts about how pervasive corporations are in global politics, this is a book you need to read. Korten published the original edition, which is the bulk of this 20 year anniversary edition, in 1995, but it is as fresh as it was then in unveiling the make-believe world of phantom wealth--money that is not based on any useful product or service. The mantra of continuous growth that, according to libertarian economic theory, will eventually lead to the end of poverty is a myth, and instead is more of a suicide economy which does not recognize the limitations that nature puts on us.

After fully outlining the death spiral we are inexorably heading toward as caused by the transnational corporations, which feel no responsibility to any community or person, Korten outlines what he calls a living economy. Such an economy is locally based, locally owned and responsive to community needs. It does not exploit nature beyond its limits, It is not based on growth of money, but rather on meeting the needs of society and respecting humans and nature. I am convinced, as is Korten, if we do not move more in the direction of market based living economies, instead of capital based exploitative practices, we may do irreparable harm to the earth and the people that inhabit it. It is easy to feel depressed about where we are and how far we have to go to even bring about modest change, but I think it is worth striving for. We do not have to let corporations rule the world, and if we band together and develop alternative market based, local systems, we might just have a chance. ( )

Dated now ( 1996 ) but, all on the money ( ha ) ~ I never fully considered what would happen when a corporation owns 100 % of it's own stock ... ( )

Dated now ( 1996 ) but, all on the money ( ha ) ~ I never fully considered what would happen when a corporation owns 100 % of it's own stock ... ( )

Korten does an excellent job explaining the problems caused by our modern global corporate capitalist economic system, the causes of that system, and some methods by which we can change the system. Good use of examples and comparison to Adam Smith's theories. ( )