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IFF  San Francisco Nov. 17, 2010 MARIA PEREIRA Conscious Finance
Interconnecting Levels of Perception
Outline of Project ,[object Object],[object Object]
The Financial Paradigm ,[object Object],[object Object],[object Object],[object Object],[object Object]
Incorporating philosophy into  the financial/economic discourse ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Why do we consume? ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
What kind of society do we want? ,[object Object],[object Object],[object Object]
What type of person are we? ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Findings in Neuroscience ,[object Object],[object Object],[object Object],[object Object]
Role of Language ,[object Object],[object Object],[object Object],[object Object]
Importance of Reflection ,[object Object],[object Object],[object Object],[object Object],[object Object]
Theory of Society ,[object Object],[object Object],[object Object]
Marcuse: civilization as a movement from barbarism Barbarism Civilization Immediate satisfaction Delayed satisfaction Pleasure Restraint of pleasure Joy (play) Toil (work) Receptiveness Productiveness Absence of repression Security
Discussion: Part I ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Part II: Creating the new financial paradigm ,[object Object],[object Object],[object Object],[object Object],[object Object]
G20 Meeting, Seoul, Nov. 2010 ,[object Object],[object Object]
Review of the evolution of finance ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
What caused market failure? ,[object Object],[object Object],[object Object],[object Object]
Prerequisites of financial reform ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Building the future ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Discussion: Part II ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

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Conscious Finance

  • 1. IFF San Francisco Nov. 17, 2010 MARIA PEREIRA Conscious Finance
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  • 13. Marcuse: civilization as a movement from barbarism Barbarism Civilization Immediate satisfaction Delayed satisfaction Pleasure Restraint of pleasure Joy (play) Toil (work) Receptiveness Productiveness Absence of repression Security
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Editor's Notes

  1. Most operate at the Problems level Increasing progression to systems For ethical behavior and to address our basic human condition, it is necessary to consider consciousness
  2. Until the financial crisis in 2008, the over-riding belief was in neo-liberalism, in unfettered free markets, seen as rational and efficient Adair Turner, Chair of the Financial Services Authority: belief in unfettered markets was institutionalized and all pervasive. Across Govts, businesses, banks, and investors, all adopted this single point of view: a “simple, constant and clearly communicated ideology” of market efficiency and investor rationality leading to equilibrium, with no room or need for discretionary stabilization.
  3. Philosophy vs. Mathematical modelling (being called to question) Contrary to Jean-Jacques Rousseau who believed that society enslaved humans to vanity and ambition ‘ Impartial spectator’: Wealth of Nations Wealth of Nations criticized British commercial policies and the hoarding of gold and silver. Followed François Quesnay’s (La Physiocratie) belief in the economy as a system of interacting parts, to be judged by the necessities and conveniences it produces, not the bullion it amasses (MJ: compare this to current focus on accumulating liquidity and paper wealth, rather than useful wealth)’’ Quesnay focussed on agriculture; Smith on trade and industry and labor Smith provided illustrations drawn from his various discussions; he knew that unless he entertained, he would not be read Jeremy Bentham, founder of utilitarianism; Hume also utilitarian and great friend of Adam Smith’s
  4. Let’s look at the major driving force of our econ system: consumption In US, 70% of GDP, and Europe 60%. In China, 35% In order to reform Business and Finance, key questions have to be posed, such as: On the psychological level: Why do we consume? A prime objective is to obtain pleasure, but Roger Scruton (2000) describes these pleasures as “perpetually recurring illusions, which vanish at the very moment they loom into view.” Consumption is thus an ever frustrated desire. He sees consumption as fed by fantasy, which ‘penetrates and pollutes the world’ What is the underlying desire? Through what we consume, we portray an image to the world, an image that we hope will elicit admiration. The world of advertising plays very ably into this by highlighting the admiration for certain goods and services that are being promoted; by association, we are admired for possessing them. We can next pose the question: why do we desire admiration? Can the answer be a search for love, the deepest fulfilment of the human being? We cannot consume without money. Is then money a corruption of love? Irving Singer argued that love sets the ground for our attribution to meaning in life and the human creation of value (2009). He explored the plurality of love and did not see its transcendental potential; however, he acknowledged its centrality in human life. Luc Ferry, the French philosopher believes the next coming revolution will be that of love, as expounded in his latest book La Révolution de l’Amour: Une Spiritualité Laique
  5. The ethical vision is demanding. Are we as humans up to it?
  6. Jean-Jacques Rousseau believed that society enslaved humans to vanity and ambition Freud: we can call the 20 th century the century of the self But what about the 21 st century? Is this when we reconnect again to the universe and see ourselves as part of it?
  7. We have seen the role of dialogue, of communication via language, to form behavior
  8. Many neuroscientists expound the importance of reflection Without reflection, there can be no wisdom Middle Ages: no knowledge is possible w/o both ratio and intellectus Thomas Aquinas, married Aristotle’s teachings with Christianity. See Alasdair MacIntyre, who promoted Thomism and Aristotle’s telos (nature or purpose), life goals Phillip Blond, Cameron’s Red Tory guru, and US policy wonk, Lew Daly, influenced by MacIntyre MacIntyre shares Aristotle’s and Thomas Aquinas view of money’s value as simply a value of exchange for goods bought, no more, no less
  9. Language, concepts, exchange, reflection (or the lack thereof) determine society Our society is defined primarily by the ego and consumption How will a shift in our ‘language’ cause society to change? If we increasingly discuss the concept of empathy, universality and love, how will our society change? Victor Hugo Anthony Giddens’ quote implies we all have a role to play in forming society
  10. First bank started by monks in Italy – Monte Paschei de Siena (still exists)
  11. INET Anthropologists: Gillian Tett, Karen Ho
  12. Not profit driven, but purpose driven
  13. Ethics/morality is not imposed, but generated from an internalized desire Past: ‘moralistic’ seen as curbing individual freedom: My liberty begins where the other’s ends. Today. Ethics as seen by Ricoeur: My liberty exists because of the other