43 - Putting humanity back into Economics

For all the good that impact investors claim to be doing, it behooves us to consider what harm we might be causing in the process and whether, ultimately, we're doing more damage than good. After all, impact investing is still investing. It exists within the current framework of free-market Capitalism. And as the deep fractures in that system have been laid bare, it only makes sense to ask ourselves what systemic changes are required to bring about true and lasting equality.And while many people are beginning to discuss how Capitalism can be improved, or even whether it is salvageable, today’s guest is exploring even more fundamental questions about our understanding of economics. After all, it shouldn’t surprise us when our financial systems fail us if those systems are built off a flawed understanding of economics.Enter today’s guest, thought-leader, advisor, and author, Denise Hearn. Denise joins us today to discuss her new blog Embodied Economics, which is, in her own words, an exploration of “economic paradigms and financial systems through, Nature, Body, Power, Care, and Interconnectedness”.In Denise’s first blog post, she asks us to consider “What is life? What is economic value?” On the surface, these are easy questions to answer yet the better we understand these terms, the more difficult they become to define. Denise argues that economics for too long has operated in the theoretical realm, divorcing itself from the realities of life. If economics is to serve us better, it must be understood in the following context:(once again in Denise’s words) “to be human is to be a living, embodied person, embedded in nature and a complex tapestry of relationships.”In this episode, Denise and I discuss the intellectual, philosophical, and spiritual inquiry that is Embodied Economics. We discuss how we can better understand economic value, what she calls the Forgotten Five of Economics (body, nature, care, power, and interconnectedness), a simple way to grow global GDP by 10% overnight, her book The Myth of Capitalism, and her work on anti-competitiveness. And be sure to stay tuned to the very end when Denise and I discuss her thoughts on how she and each of us can affect meaningful change.Resources from this episode:

• Denise’s website
• Embodied Economics blog (you should definitely subscribe!)
• Denise’s book The Myth of Capitalism
• Denise’s LinkedIn Profile

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