• by Hazel Henderson
• Tuesday, March 17, 2009
• Inter Press Service

In today's global financial crisis, the question inevitably arises, Who will the new financiers be? writes Hazel Henderson, author of Ethical Markets: Growing the Green Economy (2006), co-creator of the Calvert-Henderson Quality of Life Indicators.

In this column, Henderson argues that today, information and media drive markets. Thus the new financiers will be the high-level information and knowledge brokers who will aggregate the new research on the processes of global change and lead in structuring the deals now creating the growing green economy.

No amount of ink and paper can print enough new money to close the hole between the USD 683 trillion of outstanding false financial promises and the world's real GDP of USD 62 trillion. The only issue is who will take the hit. Up to now, the political influence of financial sectors has forced taxpayers to bail out financiers. The blatant unfairness and stupidity of this has caused huge outcries from outraged citizens. This is the end of finance based only on money and fiat currencies.

(*) Hazel Henderson, author of Ethical Markets: Growing the Green Economy (2006), co- creator of the Calvert-Henderson Quality of Life Indicators.

//NOT FOR PUBLICATION IN CANADA, NEW ZEALAND, CZECH REPUBLIC, IRELAND, POLAND, THE UNITED STATES, AND THE UNITED KINGDOM//

© Inter Press Service (2009) — All Rights Reserved. Original source: Inter Press Service

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