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“In their quest to reduce all economic values to financial values, economists equated money with wealth, making money with creating wealth, and growth in the market price of an asset with growth in real value. They defined people as financial beings rather than living beings and ignored critical distinctions between the accumulated financial assets of individuals and the health and well-being of living communities. They forgot that the only legitimate purpose of an economy is to support households in making a living—not corporations in making a killing.” — David C. Korten
In their quest to reduce all economic values to financial values, economists equated money with wealth, making money with creating wealth, and growth in the market price of an asset with growth in real value. They defined people as financial beings rather than living beings and ignored critical distinctions between the accumulated financial assets of individuals and the health and well-being of living communities. They forgot that the only legitimate purpose of an economy is to support households in making a living—not corporations in making a killing.