The Altruist Within
in pursuit of sustainability and justice
in a broken financial system
25th July 2013
Tim Jackson
@Prof...
New York, 15th September 2008
This has been an age of global prosperity. It
has also been an era of global turbulence.
And where there has been irrespon...
London, 6th August 2011
Wall Street, October 2011
Toronto , October 2011
Incomes
Labour
& capital
Spending
Goods &
services
Firms People
The Engine of Growth
labour
productivity
prices novelty
Co...
The Engine of Growth
Incomes
Factor
flows
Spending
Goods &
services
Firms Peoplelabour
productivity
prices novelty
Consumer
credit
Commercial
c...
Incomes
Labour
& capital
Spending
Goods &
services
Firms Peoplelabour
productivity
prices novelty
Consumer
credit
Commerci...
Incomes
Factor
flows
Spending
Goods &
services
SavingsInvestment
Firms
House-
holds
increasing
productivity
prices novelty...
Tradition
Novelty
Self
Other
• enterprise
– resource light
– employment rich
– the ‘service’ economy
• employment
– work-time
– skill and service-orien...
Money for a finite planet
(S – I) = (G – T) + (X – M)
Private net
savings
Public sector
net borrowing
Overseas net
borrowi...
“It is well enough that the people of this nation do not understand our
banking and monetary system, for if they did, I be...
• small-scale
– peer-to-peer
– community bonds
– community banking
• institutional investors
– governance
– negative scree...
• enterprise
– in the service of others
– care, craft and culture
– cooperative, non-profit forms
• employment
– sharing w...
The Altruist Within?
• Darley and Batson (1973) study
with seminary students;
• help overall: 40%
• help in hurry: 10%
• h...
Religion and the Schwartz Values
Religion and the Schwartz Values
Source: Saroglou et al 2004
Religion and the Schwartz Values
Source: Pepper, Jackson and Uzzell 2010
Religion and the Schwartz Values
Source: Pepper, Jackson and Uzzell 2010
• agape, philia and eros
• "an intentional response to
promote well-being when
responding to that which has
generated ill-...
Prosperity can only be
conceived as a condition
that includes obligations
and responsibilities to
others
Zia Sardar 2007
Tim Jackson - The Altruist Within: in pursuit of sustainability and justice in a broken financial system - July 2013
Tim Jackson - The Altruist Within: in pursuit of sustainability and justice in a broken financial system - July 2013
Tim Jackson - The Altruist Within: in pursuit of sustainability and justice in a broken financial system - July 2013
Tim Jackson - The Altruist Within: in pursuit of sustainability and justice in a broken financial system - July 2013
Tim Jackson - The Altruist Within: in pursuit of sustainability and justice in a broken financial system - July 2013
Tim Jackson - The Altruist Within: in pursuit of sustainability and justice in a broken financial system - July 2013
Tim Jackson - The Altruist Within: in pursuit of sustainability and justice in a broken financial system - July 2013
Tim Jackson - The Altruist Within: in pursuit of sustainability and justice in a broken financial system - July 2013
Tim Jackson - The Altruist Within: in pursuit of sustainability and justice in a broken financial system - July 2013
Tim Jackson - The Altruist Within: in pursuit of sustainability and justice in a broken financial system - July 2013
Tim Jackson - The Altruist Within: in pursuit of sustainability and justice in a broken financial system - July 2013
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Tim Jackson - The Altruist Within: in pursuit of sustainability and justice in a broken financial system - July 2013

  1. 1. The Altruist Within in pursuit of sustainability and justice in a broken financial system 25th July 2013 Tim Jackson @ProfTimJackson
  2. 2. New York, 15th September 2008
  3. 3. This has been an age of global prosperity. It has also been an era of global turbulence. And where there has been irresponsibility, we must now clearly say: the age of irresponsibility must be ended. Gordon Brown Sept 2008 The Age of Irresponsibility
  4. 4. London, 6th August 2011
  5. 5. Wall Street, October 2011
  6. 6. Toronto , October 2011
  7. 7. Incomes Labour & capital Spending Goods & services Firms People The Engine of Growth labour productivity prices novelty Consumer credit Commercial credit creative destruction status competition Investment Saving Speculation
  8. 8. The Engine of Growth
  9. 9. Incomes Factor flows Spending Goods & services Firms Peoplelabour productivity prices novelty Consumer credit Commercial credit creative destruction a life without shame status competition Investment Saving Speculation shareholder value The Engine of Growth
  10. 10. Incomes Labour & capital Spending Goods & services Firms Peoplelabour productivity prices novelty Consumer credit Commercial credit creative destruction a life without shame status competition Investment Saving Speculation shareholder value The Engine of Growth
  11. 11. Incomes Factor flows Spending Goods & services SavingsInvestment Firms House- holds increasing productivity prices novelty a life without shame status competition shareholder value creative destruction CreditCredit The Engine of Growth
  12. 12. Tradition Novelty Self Other
  13. 13. • 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
  14. 14. Money for a finite planet (S – I) = (G – T) + (X – M) Private net savings Public sector net borrowing Overseas net borrowing
  15. 15. “It is well enough that the people of this nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning." Henry Ford
  16. 16. • 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 Money for a finite planet
  17. 17. • enterprise – in the service of others – care, craft and culture – cooperative, non-profit forms • employment – sharing work – the ‘amateur’ economy • investment – social and ecological returns – impact investment – peer to peer • money – seignorage as a public good Altruism and the green economy
  18. 18. The Altruist Within? • Darley and Batson (1973) study with seminary students; • help overall: 40% • help in hurry: 10% • help in low hurry: 65% • Subject of the talk made no difference! • Distress – our redeeming emotion? From Jerusalem to Jericho
  19. 19. Religion and the Schwartz Values
  20. 20. Religion and the Schwartz Values Source: Saroglou et al 2004
  21. 21. Religion and the Schwartz Values Source: Pepper, Jackson and Uzzell 2010
  22. 22. Religion and the Schwartz Values Source: Pepper, Jackson and Uzzell 2010
  23. 23. • agape, philia and eros • "an intentional response to promote well-being when responding to that which has generated ill-being." – Thomas Jay Oord • pro-social behaviour as an emergent property of social structure • ‘faith’ as a commitment device Agape and sustainability The altruist within?
  24. 24. Prosperity can only be conceived as a condition that includes obligations and responsibilities to others Zia Sardar 2007

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