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The Altruist Within in pursuit of sustainability and justice
in a broken financial system
25th July 2013
Tim Jackson @ProfTimJackson
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 irresponsibility,
we must now clearly say: the age of
irresponsibility must be ended.
Gordon Brown Sept 2008
The Age of Irresponsibility
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
Consumer
credit
Commercial
credit
creative destruction
status competition
Investment Saving
Speculation
The Engine of Growth
Incomes
Factor
flows
Spending
Goods &
services
Firms People labour
productivity
prices novelty
Consumer
credit
Commercial
credit
creative destruction
a life without shame
status competition
Investment Saving
Speculation
shareholder value
The Engine of Growth
Incomes
Labour
& capital
Spending
Goods &
services
Firms People labour
productivity
prices novelty
Consumer
credit
Commercial
credit
creative destruction
a life without shame
status competition
Investment Saving
Speculation
shareholder value
The Engine of Growth
Incomes
Factor
flows
Spending
Goods &
services
Savings Investment
Firms House-
holds
increasing
productivity
prices novelty
a life without shame
status competition
shareholder value
creative destruction
Credit Credit
The Engine of Growth
Tradition
Novelty
Self
Other
• 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
Money for a finite planet
(S – I) = (G – T) + (X – M)
Private net
savings Public sector
net borrowing Overseas net
borrowing
“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
• 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
• 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
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
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-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?
Prosperity can only be
conceived as a condition
that includes obligations
and responsibilities to
others
Zia Sardar 2007
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