A Quote by David Korten

Wall Street sees a social fabric or social contract as inefficiencies, which need to be removed. — © David Korten
Wall Street sees a social fabric or social contract as inefficiencies, which need to be removed.
Economic policy and foreign policy in Europe have been too liberal. We have failed when it comes to maintaining the social contract, which is the very foundation of the social-democratic social model.
Wall Street shouldn't be deregulated. I think Wall Street and Main Street need to play by the same set of rules. The middle-class can't carry the burden any longer, that is what happened in the last decade. They had to bail out Wall Street.
First of all, the Social Security money belongs to Main Street, not to Wall Street. It needs to be said very clearly here that privatization is off the table... Social Security, as a matter of fact, is a better investment now than the stock market. There's a higher return. There's guaranteed cost-of-living increases. Privatization you have to worry about the value of your account.
For so many in the UK, the social contract is broken - the idea that if you work hard and play by the rules, you'll reap the rewards. Advances in robotics, artificial intelligence and other technologies are just as capable of fixing the social contract as they are to weaken it further.
The "social contract," in the only sense in which it is not completely mythical, is a contract among conquerors, which loses its raison d'être if they are deprived of the benefits of conquest.
What social safety net does is provide a glimmer of hope for what a democratic socialist society might look like. It makes the claim that without social provisions, without a welfare state, without a social contract, society can't survive. We need a foundation for people - economically, politically, and socially - where what the Right considers "entitlements" are really rights.
I do believe that we should substantially lower student debt in this country, which is crushing millions of people. We pay for it, in my view, by a tax on Wall Street speculation. The middle class bailed out Wall Street in their time of need. Now, it is Wall Street's time to help the middle class.
No doubt exists that rent seeking in general leads to serious inefficiencies in this direct sense, but its indirect damage is even worse. Drawing the bulk of intelligent and energetic people in society into activity that has no social product, or may have a negative social product, is more important in explaining the stagnation of these societies than the direct social cost of the rent seeking.
The place where I think social media fails is in showing the knowledge, the tradition of stitching the clothing, of cutting the fabric, of the tannery, of the skinning of the jewels - this knowledge needs respect. Online and social media is the future, but we need to learn from the past, too.
In fact, some leaders come right out and say it. Mario Draghi the president of the European Central Bank had an interview with the Wall St Journal in which he said the social contract's dead; we finally got rid of it.
We ought to say, "Occupy Wall Street, not Iraq," "Occupy Wall Street, not Afghanistan," "Occupy Wall Street, not Palestine." The two need to be put together. Otherwise people might not read the signs.
I think the money for the solutions for global poverty is on Wall Street. Wall Street allocates capital. And we need to get capital to the ideas that are successful, whether it's microfinance, whether it's through financial literacy programs, Wall Street can be the engine that makes capital get to the people who need it.
It's very important to remember that the philosophers were social dissidents. They were social critics. The man in the street or woman in the street did not particularly cherish what they said. Socrates was killed.
I heard governor Romney here called me an economic lightweight because I wasn't a Wall Street financier like he was. Do you really believe this country wants to elect a Wall Street financier as the president of the United States? Do you think that's the experience that we need? Someone who's going to take and look after as he did his friends on Wall Street and bail them out at the expense of Main Street America.
By linking with friends and ultimately strangers and building those relationships, social media is reweaving the social fabric that can then be used to scale your non-profit efforts.
The same undisciplined government spending and social engineering that has undermined our economy over the past 30 years has also been tearing at the social fabric of this land.
This site uses cookies to ensure you get the best experience. More info...
Got it!