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Is it possible to create an effective economic system where life is at the center? In this conversation, we explore the possibilities with Marjorie Kelly. A thought leader in next-generation enterprise design, employee ownership, impact investing, and building a community-rooted democratic economy, Marjorie is a distinguished senior fellow at the Democracy Collaborative and the author of four books.
While working in publishing, Marjorie made key observations that were pivotal to her career choices and later formed the premise of her most recently published book, Wealth Supremacy. Unpacking the true definition of market-rate returns, Marjorie shares her perspective on how and why their role should be challenged. We also discuss the real drivers of inequality as we explore commonly believed myths about debt and investment money.
Marjorie offers a solution to the conundrum of choosing not to vilify the wealthy while holding harmful systems accountable, plus we touch on the problem of growth and imagine ethical solutions to making provisions for the future before diving into possible solutions to the problem of wealth supremacy through system change. Tune in to hear more from this exceptional guest!
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Key Points From This Episode:
• Marjorie’s journey from publishing to the Democracy Collaborative and the observations that form the premise of her book, Wealth Supremacy. [0:00:26]
• The true meaning of market rate returns and why it needs to be challenged. [0:08:46]
• How myths about debt, investment, and returns limit us from seeing what drives inequality. [0:12:12]
• Differentiating between harmful systems and the individuals that perpetuate them. [0:19:17]
• The main problem of growth and navigating how to make future provisions ethically. [0:22:56]
• Possible solutions to the problem of wealth supremacy through system change. [0:29:28]
• Unpacking the five elements of ownership design. [0:35:08]
• The vital role wealthy people can play in creating economic transformation. [0:37:16]
• Suggestions for how to further explore the ideas covered in this conversation. [0:42:19]
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Quotes:
“We need to turn and discredit and delegitimize the extractive system. Until we do that, it’s going to devour everything that we build.” — @marjorie_kelly [0:06:02]
“Wealth supremacy is this root cultural norm that wealthy people are more important than the rest of us.” — @marjorie_kelly [0:07:37]
“When you say ‘market rate returns’, what you’re saying is [that] preserving the status quo (where the wealthy are getting wealthier and wealthier) matters more than having a livable earth or a fair society. We need to challenge that.” — @marjorie_kelly [0:10:14]
“Every asset held by one person is a claim against someone or something else.” — @marjorie_kelly [0:12:25]
“Labor has always been the force for progressive change in politics.” — @marjorie_kelly [0:38:18]
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Links Mentioned in Today’s Episode:
Wealth Supremacy: www.wealthsupremacy.org
Marjorie Kelly: https://marjoriekelly.org/
Marjorie Kelly on LinkedIn: https://www.linkedin.com/in/marjorie-kelly-6bb8363/
Marjorie Kelly on X: https://twitter.com/marjorie_kelly
Wealth Supremacy: https://www.powells.com/book/-9781523004775/1-0
The Divine Right of Capital: https://www.powells.com/book/the-divine-right-of-capital-9780369381262
Owning Our Future: https://powells.com/book/owning-our-future-9780369371461
The Making of a Democratic Economy: https://www.powells.com/book/the-making-of-a-democratic-economy-9781523099924
Democracy Collaborative: https://democracycollaborative.org/
Fund for Employee Ownership: https://www.evgoh.com/tfeo
Evergreen Co-Operatives: https://www.evgoh.com/
The Next Egg: https://www.thenextegg.org/
Berrett-Koehler Publishers: https://bkconnection.com/
Discount Code: FRIENDS
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