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:
29 - The causes of wealth inequality that no one is talking about
28 - A technology solution for solving the riddle of impact measurement and management
27 - Building better private equity structures and practices for a more equitable world
26 - Behind the scenes with an impact fund startup investing in African SMEs
25 - Leveraging employee ownership to fight wealth inequality
24 - The Purpose of Capital with Jed Emerson
23 - Breaking the shareholder primacy paradigm with alterantive ownership models
22 - Empowering indigenous innovators & communities
21 - Harnessing the vast untapped potential of newcomers to Canada
20 - How the Equality Fund is using Impact Investing to Fuel Feminist Futures
19 - Fighting a $200 Billion per year predatory industry using microfinance
18 - How Blended Finance is being used to massively scale the amount of capital for impact investments
17 - Around the world of impact investing with Rehana Nathoo
16 - Reinventing Commercial Banking for Good
15 - The best social return on investment? The case for delivering micro nutrients during the first 1,000 days of life
14 - Pioneering high-impact investments that create opportunity for the world's most vulnerable people
13 - Revitalizing the Indigenous economy by investing in Indigenous entrepreneurs
12 - Serving high net worth individuals, foundations, and institutions
11 - How to profit off the transition to a low carbon economy
10 - Challenging traditional philanthropy
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