The author examines ways in which economic values and institutions are shaped by certain beliefs about the nature and meaning of life. Modern societies have been shaped more than is realized, by beliefs embedded in the story told by Newtonian physics of a clockwork universe in which life is an accident and consciousness an illusion. This theory has led to the creation of competitive, individualistic, and materialistic societies grounded in a Hobbsian philosophy that there is no moral purpose to life and therefore good is merely that which brings pleasure and evil that which brings pain. This text outlines specific measures to free the creative powers of individuals and societies through the realization of a radical democracy, the local rooting of capital through stakeholder ownership, and a restructuring of the rules of commerce to create "mindful market" economies that combine market principles with a culture that nurtures social bonding and responsibility.

Contending that the new global capitalism is delivering a fatal blow not only to life but to democracy and the market, Korten draws on "new biology" and a growing understanding of living systems to point the way to a world of healthy market economies.

This work investigates the growing gap between the promises of new global capitalism and the reality of insecurity, inequality, social breakdown, spiritual emptiness and environmental destruction. It looks at what went wrong and offers solutions based on examples from new biology.

*Named as one of Future Survey's Super 70 books

*Written by a well-known globalization realist with extensive international experience in business

*Uses biological and evolutionary principles to illustrate the differences between capitalism and economic systems

Korten examines the fissure between the promises of new global capitalism and the reality of financial insecurity, inequality, social breakdown, spiritual emptiness, and environmental destruction. By drawing on insights from biology and evolutionary principles, Korten renders economic terms and ideas more understandable through the use of simple metaphors regarding living systems. The book prescribes economic solutions to capitalism's maladies, and provides readers with viable ways to work toward a healthy, sustainable economy.

Includes bibliographical references (p. 283-303) and index.