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Transforming Finance RESPONDER Finance Workshop Tim Jackson 14 th May 2013

Transforming Finance RESPONDER Finance Workshop Tim Jackson 14 th May 2013. Dimensions of the real and money economy. Incomes. novelty. prices. Factor flows. creative destruction. status competition. increasing productivity. People. Firms. Goods & services. Commercial credit.

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Transforming Finance RESPONDER Finance Workshop Tim Jackson 14 th May 2013

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  1. Transforming FinanceRESPONDER Finance WorkshopTim Jackson14th May 2013

  2. Dimensions of the real and money economy Incomes novelty prices Factor flows creative destruction status competition increasing productivity People Firms Goods & services Commercial credit Consumer credit Spending Investment Saving Speculation

  3. Conventional Finance • speculation • commodities • property • derivatives • consumer lending • mortgages • unsecured lending • ‘real’ investment • short-term-ist • rent-seeking • chasing productivity bubbles • depleting resources • de-grading environments

  4. Net lending by UK banks 1972 - 2013

  5. Net lending by UK banks 1972 - 2013

  6. Net lending by UK banks 1972 - 2013

  7. Dimensions of the green economy Incomes novelty Factor flows participation prosperity resource productivity People Firms services Affordable housing Investment loans Spending Saving Investment Speculation

  8. Dimensions of the green economy • 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

  9. A green investment portfolio • green technologies • renewables • energy efficiency • resource productivity • infrastructure • public transport • low-carbon buildings • community spaces • ecological protection • forests • soils and crops • wetlands and habitats • services • health and education • care, craft and culture

  10. Accounting for Money (S – I) = (G – T) + (X – M) Private net savings Public sector net borrowing Overseas net borrowing

  11. UK Sector Net Savings as % GDP Government Households Corporate Rest of the World

  12. Transforming Finance • 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

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