In his latest book and talks, Dr. Yunus addresses the Future of Capitalism and says that it takes too long for governments and institutions to act. Hence he puts emphasis on ‘social business‘ as the vehicle that we can all use to make a difference.
However, given the by now accepted necessity for taking climate change seriously, there may just be a chance that institutions actually begin to be effective.
If institutions were to commit to ‘Grameen Capitalism’, they’d have to do the following:
- acknowledge that money doesn’t grow on trees but is produced in cities
- demystify, measure and monitor the procedures for using ‘credit’ as ‘money’
- use the cash : credit ratio in the money supply as a new indicator for ‘monetary health’.
You may be pleased to read that our submission ‘Green Credit for Green Purposes‘ to the Treasury Select Committee in response to their inquiry into the Stern report has been fully published on pages Ev 87 to Ev 98.
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