The climate action impasse is one of a cascading cavalcade of societal failings that are showing us that we have to make social decisions in the 21st Century that the social structures for social decision making that we inherited from the 20th Century are not capable of letting us make.
It is not popular today to talk about institutions as social structures for social decision making, about authenticity in the exercise of institutional authority, or about integrity in institutional decision making.
It is not popular to talk about social structures for social decision making, at all.
Instead, we are steeped in the prevailing social narrative of self-actualizing self-determination, assured that all social decisions are just the aggregated sum total of the individual moral choices made by each of us, individually, as expressions of our own personal morality, as we each determine our own morality, for ourselves.
This is Neoliberalism. And it is nonsense.
The Fiduciary Way is the way back to sense, through our shared common sense. About what is right and good. For us. In our times. Together, in society. And also apart, as individuals. Mediating the tensions between extremes that make us human, of which the tensions between society and the individual are primary: what does it mean to be “us”? As individuals making our way in the world? And also as members of the society that is making the world through which we each, as individuals, must make our way?
Mediating the tensions between individual and society requires a correct understanding of society, which requires a correct understanding the social structures through which society makes social decisions.
Neoliberalism gives us an incorrect understanding of these social structures, which is why we are failing to mediate so many tensions successfully today.
The Fiduciary Way is better.
Key features of The Fiduciary Way include:
- Four social structures for social decision making: Civil Society; Enterprise; Finance and Government (not just two: Business/Markets and Government); and within Finance,
- Six different architectures of social decision making through Finance (not just two, Banks and Markets, or maybe three, including Government, or even four, including Foundations, and maybe even five, adding Family Offices as Impact Investors – but not six: Pensions & Endowments are just pools of money for the Markets to play with) forming a Continuum of Capital for financing the flourish and fade of the social contracts between enterprise and popular choice, and at the leading edge of the Continuum of Capital,
- Pensions & Endowments as Institutional Fiduciary Owners of Intergenerational Fiduciary Money (not Asset Owners Peer Benchmarking Asset Managers) with the fiduciary power to negotiate with enterprise of any size, anywhere in the global economy, and the fiduciary duty to negotiate for fiduciary sufficiency (not Growth) for qualifying individuals, directly, that will, of necessity, also be sufficient for all of society, consequently;
- accountable to the share common sense of people who self-select from 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.