transforming finance responder finance workshop tim jackson 14 th may 2013
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Transforming Finance RESPONDER Finance Workshop Tim Jackson 14 th May 2013. Dimensions of the real and money economy. Incomes. novelty. prices. Factor flows. creative destruction. status competition. increasing productivity. People. Firms. Goods & services. Commercial credit. - PowerPoint PPT PresentationTRANSCRIPT
Transforming Finance
RESPONDER Finance Workshop
Tim Jackson14th May 2013
Incomes
Factorflows
Spending
Goods &services
Firms People
Dimensions of the real and money economy
increasingproductivity
prices novelty
Consumer credit
Commercialcredit
creative destruction status competition
Investment Saving
Speculation
Conventional Finance• speculation
– commodities– property– derivatives
• consumer lending – mortgages– unsecured lending
• ‘real’ investment– short-term-ist– rent-seeking– chasing productivity bubbles– depleting resources– de-grading environments
Net lending by UK banks 1972 - 2013
Net lending by UK banks 1972 - 2013
Net lending by UK banks 1972 - 2013
Incomes
Factorflows
Spending
services
Firms People
Dimensions of the green economy
resource productivity
novelty
Affordable housingInvestment
loans
participationprosperity
Investment Saving
Speculation
• enterprise– resource light – employment rich– the ‘service’ economy
• employment– work-time – skill and service-oriented
• investment– ecological and social– a different ‘ecology’– slow, patient capital
• money– appropriate institutions– sector balances– green money supply
Dimensions of the green economy
• green technologies– renewables– energy efficiency– resource productivity
• infrastructure– public transport– low-carbon buildings– community spaces
• ecological protection – forests– soils and crops– wetlands and habitats
• services– health and education– care, craft and culture
A green investment portfolio
Accounting for Money
(S – I) = (G – T) + (X – M)
Private net savings
Public sector net borrowing
Overseas net borrowing
UK Sector Net Savings as % GDP
GovernmentHouseholdsCorporateRest of the World
• small-scale– peer-to-peer – community bonds– community banking
• institutional investors– governance– negative screening – investment for good– impact investment
• macro-economy– financial regulation– fiduciary duties– hypothecated transactions tax– green quantitative easing – sovereign spending– the chicago plan
Transforming Finance