Building up the innovative new framing of the Fiduciary Way requires a contemporaneous critique of the current framing.
Comparing the Current Neoliberal Framing to the New Fiduciary Framing
of the Economy
Seeing the Mistake that Neoliberalism Makes
A New Fiduciary View of the Economy, Enterprise and Finance
Re-Humanizing Finance, Enterprise and the Economy
- Recklessly Unreckoning
The Fiduciary Way
- Prudently Reckoning
Neoliberal Financialization is NOT Prudent Stewardship
Because the Neoliberal narrative literally makes no sense, we need a new narrative that does.
From No Agency to Yes! Agency
Examining the social structures for social decision making through Finance.
For too many people, Finance is terrifying.
A Black Box in which things happen mysteriosly, where the Wizards of Wall Street, who call themselves Masters of the Universe conjure up stuff that they assure us, with great braggadocio, will be good for us (when all to often, it turns out, those transactions are really only good for them).
The wrong experts are in charge.
We have only ourselves to blame
Fundamentals of Money and Finance
The Essentials of Finance
Inside the Black Box
The Problem Neoliberalism Is Creating
The Current Failing of Fiduciary Deployment
Civil Society and the Common Law created this problem.
Uniform Management of Institutional Funds Act
At this time, the choices available to individuals and institutions were largely the same, because technologies for modeling expectations for future cash flows through enterprise were still housed in mainframes and mini-mainframes that were not accessible to deal makers making deals “on the fly”.
So, the standards of prudence for individuals get applied equally to institutions, notwithstanding the significant differences in size, purpose and longevity between the two.
Not in the law, but in a new “lore” of custom, usage and accepted practice.
Spreadsheet technology puts the power to model expectations for future cash flows on every computer desktop and laptop.
You need size, purpose and time to participate in these cash flows, directly.
As individuals, we do not have the size, the purpose or the time.
As superfiduciary stewards of society’s social superfunds, Pensions & Endowments do.
Not much has changed.
The awesome power of Pensions & Endowments as institutional fiduciary owners of intergenerational fiduciary money aggregating into the tens of trillions, collectively, worldwide, remains largely unused, except for:
- Real Estate
- Tax Benefit Transfers
- Public Finance through Project Finance
- Private Equity time-outs from trading, to slice-and-dice before pumping-and-dumping
Time to make the change.
Let’s unleash the power of Pensions & Endowments as institutional fiduciary owners of intergenerational fiduciary money aggregating into the tens of trillions, collectively, worldwide, and superfiduciary stewards of society’s shared savings aggregated into social supefunds, to direct society’s shared savings into enterprise to shape the economy, directly, through negotiation on formulas for sharing in enterprise cash flows prioritized for keeping a good society ongoing into a dignified future, forever.
This is a BIG shift.
It requires that we build a new frame of reference, and a new vocabulary, new words for expressing new meanings, for thinking and talking about Money & Finance, Enterprise and the Economy, Society, Nature and Our Shared Future.
That requires us.
Reasonable people of common sense who self-select from among the general population of everyday people living our everyday lives as caring enough to participate as new 21st Century Global Citizens in the new 21st Century Global Commons of Fiduciary Money, each making our own individual contributions to local community engagement in globally curated conversations about what is, and what is not, fiduciary in the deployment of Fiduciary Money.
The Law must be revisited, restated and updated, to reflect the learning of the last 50 years and the present possibilities for Pensions & Endowments to use technology to negotiate with enterprise of any kind, anywhere in the economy, and not just with Asset Managers, to generate fiduciary minimum cash flows, plus “upside”, through equity payback financings for fiduciary-grade social contracts between enterprise and popular choice to shape a fiduciary economy of technological sufficiency, social equity and habitat longevity now and in the future, forever.
It must be made the law that different financing architectures in the continuum of capital must all “stay in their own lane”.
We can’t wait for lawyers to do this.
WE have to demand that they act, as new 21st Century Global Citizens in the new 21st Century Global Commons of Fiduciary Money!