Integral Economy Emerging?

The crisis is a huge blow to the free-right position that has held such sway in Washington and Wall Street. Never again will they be able to speak with such force. There are a few arguing still that it's not the fault of the free-right position. Former Fed chariman Alan Greenspan, for example, recently said that the crisis occured not because of a lack of LR regulation (which he argued strongly against for years) but because of a UL or LL lack of integrity  among those in power. Of course there is some truth to that, but that's one reason we needed regulation in the first place.

Some conservative papers have run articles arguing that it wasn't the fault of the free-right economic policy as well, but everyone knows they have been dealt a serious blow. It will be much easier for Green or integral to move in now. It might be integral in effect after competing ideologies come out with a compromise, or in some cases, perhaps in an Obama administration, it could be intentionally integral, even if they aren't calling it that. Obama has moved to the center on economic issues since the primaries, and I've become convinced that's what he really believes.

And I think you're right: in the U.S. there is such a stigma attached to overly Green economic policy I think they would have a hard time going too far in that direction. The additional stimulus package from Pelosi et al. seems like it could be a little Green, but unless Democrats get 60 in the Senate I doubt they would be able to do too much damage. The amazing irony is that Republicans, including McCain, still throw out accusations of "tax-and-spend Democrats"--after Reagan racked up a huge deficit, Bush 41 added to it, and Bush 43 outdid them all, with Clinton paying it down and leaving a surplus.

Interesting thoughts Tim and David.  I've been wondering the same, though find myself with a lack of resources to really understand what's happening.  I'm not an economist, and it befuddles me how the economy actually works! (and in particular, national and international monetary policy/regulation), but if we are to see any indications of a shift to an 'integral' economy, I think we need to ask what would be its predominant mode(s) of production?  I've read somewhere that beyond the 'informational' is the 'transformational'? (Sorry for lack of reference...).

Brings to mind though - the theory of Kondratieff Waves/Cycles (K-waves, or Long Waves) - the ups and downs of economic cycles over several decades, which historically correspond with significant changes in key underlying modes of production (steam, electricity, oil/auto, computer/information, etc...).   If the latest informational wave is coming to a threshold of maturity, what comes next?   My thoughts are that the capitalist wave proceeds one step ahead of the socialist dimension - i.e. the information wave being 'green' - but its functioning still predominantly 'orange'.  If we are seeing a shift at the moment, then the socialist dimension would be shifting from orange to green.  Wild thought: in a 'green-socialist' economy, could we actually see a more equitable and re-distribution of wealth?  Could our banking systems maybe forgive bad credit/mortgages and allow the average Joan to get off on a more equal footing?  Or - even as some have suggested - force bank CEO's/Execs. to pay back much of the hundreds of millions they made from the sub-prime mortgae fiasco?  Maybe I'm being overly optimistic with these thoughts as well.  But I think what we are likely to see come out of this current crisis is a shift from national to global monetary regulation - and at least on an international scale, while they are at it, they should be forgiving the debts of developing nations.

All this to say, my thoughts are that in terms of capitalist production, yes, we might start to see a shift from informational to transformational, but in terms of the socialist dimension, it is one step behind in a shift from orange to green.  It leaves me the question as to what would be the main ingredients of a truly 'integral' economy?

Thanks for your thoughtful posts.  I have found some "steadiness in the storm" through the work of George Soros, whose perspective strikes me as at least postmodern, but I suspect at least teal.  In the midst of an interview with Charlie Rose, when they were debating basically the capitalism/socialism question, he remarked "all human constructs are imperfect".  This remark struck me as indicative of his ability to move flexibly across various systems of thought. 

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Durwin Foster

durwinfoster@gmail.com

One thing of many that's pretty amazing about this election cycle is that both free right and order right are getting slammed. Palin, because she is Amber basically, is getting slammed like no VP candidate in recent memory, including Dan Quayle, with many conservatives even saying she simply isn't qualified for the job. And now free right is getting just as big a drubbing. That's a huge change compared to the times when it was all about the Democrat being accused of being a liberal and the Democrat getting all defensive about it and not really knowing what to say. But as Tim said, it's not Green where it seems to be headed but Teal or at least a healthy Green, though again the Democratic congress could weigh in with too much Green with a Democrat in the White House and as a backlash to the Bush years.

The Washington Post gave a really good, integral-sounding endorsement of Obama yesterday in which they said, "At home, we believe, he would respond to the economic crisis with a healthy respect for markets tempered by justified dismay over rising inequality and an understanding of the need for focused regulation."