“In considering the essential problem of how to produce and distribute material wealth, virtually all of the great economists in Western history have ignored the significance of the commons — the shared resources of nature and society that people inherit, create and utilize.
“Already the system of state capitalism is breaking down, threatening the entire planet, its institutions and species. When this collapse can no longer be contained and a global monetary crisis ensues, world society will have the choice of creating an economic system that follows the universal laws of biophysics and commons preservation—or accepting a new version of 18th-20th century mechanistic economics, obliging humanity to continue living off the common capital of the planet under corporate feudalism and über-militaristic regimes.
“Our decision will likely come down to this: global commons or global autarchy. As an economist, I don’t pretend to speak for the conscience of humanity; but as a human being, my heart tells me that we shall see the beginnings of a commons economy in our lifetimes. The long-forsaken global commons are beckoning.”
Read the full story by economist, James Bernard Quilligan….