I regard the crisis as one resulting from values. However, we would be wrong to assume the response to that is to work towards the expression of different values within existing market rules. Rather, the rules of the financial system have been set up to ascribe value to intangible assets through a process based on a system of 'might is right': if your financial institution is big enough for its opinions to move markets then your opinion is "right" as it affects the actual value of an asset. (Information on this I detail in my new annual review, along with other critiques of the causes of the crisis. http://lifeworth.com/lifeworth2008/2009/05/the-end-of-financial-triumphalism/)
Therefore, rather than espousing or advocating different values within the existing rules, we need to change the rules so that different values can be rewarded rather than punished through the financial system. It also raises deeper issues about the accountability of property rights, which again raises the question of the values embodied in our current assumption about private property. (I explore this in my new book, "The Corporate Responsibility Movement" (http://www.greenleaf-publishing.com/productdetail.kmod?productid=2767)
The first step to all of this is to reveal the values that are implictly embedded in current rules and norms about property, finance, and valuation.
Comment posted on behalf of Dr. Jem Bendell - GVI Advisory Board Member
Comments
Jerri Husch
06/30/2009 07:10
Well put on the "values/rules" discussion. I view "rules" as part of the process that transforms "intangibles"--ie.-the interior "feeling/emotion/mental" states that are evoked when "beliefs" and "ideals" are "activated". Beliefs are supported by interior "mental/body processes" , that are reinforced by though "values" that are shared and "norms" that proscribe action.
Isn't part of what we are seeking to do is create a coherent means for "values" that have lately lost alot of legitimacy and "power" (peace, justice, equity, sharing, love") to be transformed into real life, bodily "action(s)".
The "rules" that are currently being created, presented, maintained (often by force) are "rules" that have evolved within a very specific set of historical "values" that have been socially defined within a specific socio-political context. I view my/our work (and those of us who seek to work together) as facilitating people's ability to "see" the values that are "embedded" in current "rules" that support a very limited definition of what is "right" in current societies. I also view that the current "rules", ie. of international governance, have evolved from ideals (beliefs) in private property, individualism, profit as ends, etc.
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