Nov 21, 2022Liked by Rachel Donald

I was particularly taken with the emotional impact of the exercise at the end of the interview. I wonder what it would be like to extend the exercise to more generations in either direction. I understand that some cultures have a duty of responsibility to up to seven generations into the future. How different would western culture be if this was part of our story?

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Yes, to stewardship.

Also, how are we going to build an economy of stewardship on the foundation of financing as "market makers making money. making markets"?

One of the huge gaps in our popular narratives about "us" is that money and finance don't matter. That it's all just personal morality, and if society is going in the wrong direction, its always because some bad actor is acting badly.

The Inconvenient Truth is that Finance Matters. Our economy today is built on the institutional morality of share price trading and The Growth Imperative: no growth, no liquidity; no liquidity, no market participants; no market participants, no markets; no markets, no money making opportunities for market makers.

There is another choice.

We already have a new financial institution of Fiduciary Money: Pensions & Endowments.

Pensions are constituted to be stewards of The Pension Promise, which is a promise to the future, to be there in the future, in a future that is worth being there in. Endowments are constituted as stewards of civil society, and the articulation, curation and innovation of social norms and social narratives, as times change and society needs to change its norms and narratives to fit the changing times.

Currently, we are turning this stewardship money over to market makers, for them to use to make money by making markets.

What if we let our Pension and Endowments stewards keep that money, and use it to finance Stewardship, instead of Growth?

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Delighted to see Ella at the Wales Climate Week today. And felt quite smug as I was the only one of my friends who already knew about her incredible work.

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