The Value Revolution in Economics

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The Value Revolution in Economics

• Wealth, Indicators Accounting

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Redefining Wealth

• Quantitative
• Money Material
• Accumulation
• Qualitative
• Well-being
• Regeneration

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Industrialism

• River Economy Linear Flows
• Divided Economy
• Production / Consumption
• Formal / Informal
• Workplace / Home
• Resource-intensive / people displacing/deskilling
• Concentrated production / energy forms

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Green / Postindustrial

• Lake Economy
• --cycling / waste-as-food / biomimicry
• Integration of production consumption
• --home / workplace
• People-intensive / Knowledge-culture-based
• --resource-displacing
• Decentralized / distributed

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Historical Trends

• Dematerialization
• Detoxification ( decarbonization)
• Decentralization

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Waste, Demand Artificial Scarcity

• Permanent War Economy
• The Suburb Economy
• Oil / Autos / Subdivisions

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Indicators

• If it is to be achieved, the new economic
  system will result from our becoming better
  ecological accountants at the community level. If
  we must as a future necessity recycle essentially
  all materials and run on sunlight, then our
  future will depend on accounting as the most
  important and interesting discipline.
• Wes Jackson,
• Becoming Native to This Place

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Indicators real wealth

• Qualitative Wealth is far more complex requires
  more quantification
• Qualitative Wealth is place-based or specific to
  circumstances
• Qualitative Wealth is needs-based, requiring
  examination of consumption.

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Genuine Wealth Assessment Life-cycle
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Business Applications

• Internal accounts
• Natural Step, ISO 14000, Eco-footprint,
  Sustainability Reporting
• Government Regulation
• Alternative Industry Standards
• --LEED green bldg. FSC wood B Corporation
  
• Innovative Business Models
• -- B Corporation
• -- McDonough/Braungart Protocol
• --Local Food Plus

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Business Applications -II

• Builds external costs into firm decisions
• Essential to Triple Bottom Line
• SBLS can be translated into financial bottom
  line
• Crucial to Stakeholder relationships
• Made easier by network support
• --market transformation

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LCA and Product life-cycles Environmental
Lock-in over a Products Development Cycle