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Transforming Capitalism The crisis of our time is not about financial or economic bankruptcy. The real crisis of our time is about an intellectual bankruptcy: the bankruptcy of mainstream economic thought. Just as the crumbling of the Berlin Wall in 1989 marked the end of one fundamentalist approach to society and the economy—socialist state-centric fundamentalism—the toppling of the Wall Street house of cards marks the end of another—neoliberal market-centric fundamentalism. But the public debate and crisis response continue to be framed by the same old categories and frames of economic thought that got us into the whole mess in the first place. To paraphrase Albert Einstein’s famous observation, “The significant problems we have cannot be solved by the same type of thinking that created them.” Yet that’s exactly what we are busy trying to do. – Otto Scharmer, from The Blind Spot of Economic Thought: Seven Acupuncture Points for Shifting to Capitalism 3.0 |
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