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Discussion: A wonderful article by Brett Scott about the real problem with our finance system being institutional amorality!

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Peter Burgess

The B Team 2,660 members A wonderful article by Brett Scott about the real problem with our finance system being institutional amorality!

The problem of the financial sector is institutional amorality theguardian.com

In part two of a series unpicking pension funds, Brett Scott asks why, when investment is so political, the financial system operates in a moral... Like Comment (1) Share Unfollow Reply Privately1 day ago Comments 1 comment

For some reason as I read this piece, I starting to think about bulls and bears and sheep and sharks ... the animals (and fish) that inhabit the financial markets.

I also was struck by the idea that people in the financial sector are professionals. There was a time when the professions were really professions, and in that era banking and finance did not get in.

Today, I am really bothered by the economic reality that the financial sector does very little or nothing to add value to the world, but charges the world a whole lot for doing it. The wealth now owned by the financial sector and people associated with the sector was created by others, and has merely been concentrated in the hands of very clever financial operatives. This is not new, but it has become a bigger issue in the last 40 years.

There is very little wrong with the world except the financial sector! Modern technology is amazing. A lot of people have pretty good educations. Health science is better than ever. Yet, in spite of these factors it seems the global economy is in a funk. This is because the big decisions are nearly all wrong.

I want to see metrics that will show how the economy really works, and then start to see decisions made based on metrics that measure what really matters.

Peter Burgess - TrueValueMetrics
Multi Dimension Impact Accounting

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