From Phantom Wealth to Real Wealth.

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  • Author(s): Korten, David
  • Source:
    Tikkun (Duke University Press). Jan/Feb2011, Vol. 26 Issue 1, p52-52. 1p.
  • Additional Information
    • Subject Terms:
      FINANCIAL crises; GLOBALIZATION; MONEY; WEALTH; BANK loans
    • Abstract:
      The article presents the author's views on global economy that is headed for terminal collapse. According to the author, the financial systems are going out of control beyond human accountability; and Earth's critical living systems are collapsing. The author says that real wealth is anything that has real intrinsic value, and modern money has no intrinsic worth, and it is just a number created by a simple accounting entry when a bank makes a loan.