A New Moneyed Ally for Civil Society
Pensions & Endowments as
Institutional Fiduciary Owners of
Intergenerational Fiduciary Money
are social structures for social decision making
that are created and supported by society,
under the law, as a social good
because to provide these private benefits
to qualifying individuals, directly,
also provides a public benefit
to all of society, and each of us, consequently,
whether we participate directly as qualifying individuals, or not
And so, the decisions made by Pensions & Endowments must advance the public interest as a social good, and not just the private interests of direct participants. Which is to say, they cannot deliver direct benefits to private persons in ways that harm the public, more generally.
Which means that Pensions & Endowments can, should and must become allies of Social Activism whenever and wherever the issues of the day intersect with the choices they can and should be making for deploying fiduciary money as financing for enterprise.
Some issues of the day that are points of transactional alliance include:
Breaking the Climate Impasse.
Internalizing Externalities: Social Responsibility; Sustainability and ESG.
Reforming Finance to Reshape the Economy: Planetary Health; Post-Growth/Degrowth; Post-Colonialism; Poverty; Labor, Race and Gender Equity in the Conduct of Commerce
Land Use and Biodiversity for Habitat Integrity and Longevity: Urban, Rural, Curated and Left Alone
Consumerism, Workplace Safety, Product Safety, Packaging and Pollution
The (in)Humanity of Raising Food for Humans
about talking to the individuals who are authorized to make decisions for these institutions, about the choices they are making, and how they can and should be making different choices, for the direct benefit of qualifying individuals, and for the good of society, in the public interest, more generally.
One thing we need to be talking to them about is this…
Financialized Fiduciary Money is an ally of Market Makers Making Money Making Markets.
This is not fiduciary.
Fiduciary Money has a duty to reckon with the future consequences of present choices, as to both WHERE the money will be made to go, as financing for enterprise to shape the economy, and HOW the money is going to be made to go there.
Financialization is uncaring about the future, as to both where, and how, except to the extent that expectations for future transactions are reduced down to a market clearing price in the share price trading markets that delivers liquidity to market participants, so the market makers can continue making money making markets.
There is no reckoning with future consequences, and so no point of alliance with social activism.
Fiduciary Money set free from Financialization is also set free to honor its fiduciary duty to reckon with future consequences of present choices. This is a point of alliance with social activism, as a new social contract with Civil Society, to be fiduciary, and not non-fiduciary; faithful, and not faithless.
Reckoning with consequences requires knowledge of those consequences, and a new social contract between Science and Civil Society to inform the new social contract between Civil Society and Fiduciary Money.
Social Activism becomes a proxy for Science, speaking with a Voice for Science to inform Fiduciary Money on the future consequences of present choices, on Nature and Society, as an important part of a new ecosystem of fiduciary financing of fiduciary-grade social contracts between enterprise and popular choice to shape of fiduciary economy of intergenerational impartiality, caring equally for the present and the future.