James Eggert, a renowned author of several books on economics and professor at the University of Wisconsin-Stout, has written an innovative new book Meadowlark Economics: Collected Essays on Ecology, Community, and Spirituality, in which he investigates the dramatic disappearance of meadowlarks in a field near his home in Wisconsin. In unraveling the mysterious departure of such creatures and focusing on economical and ecological factors, Eggert is led to conclusions that not only reflect the meadowlark population, but serve as insightful clues into humanity and the need to incorporate environmental, spiritual, and community factors when examining the economy and business practices. The following essay is a fascinating (and rightfully critical) look at Eggert’s principles in relation to Alan Greenspan and the economic pitfalls of free market capitalism.
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Greenspan’s Anguish
by James Eggert
I made a point to save my copy of the Wall Street Journal’s Oct. 24, 2008 issue as an important reminder, a souvenir if you will, of the tumultuous year of 2008. There, on the front page is a memorable photograph of an unhappy Alan Greenspan. The viewer is, I believe, witnessing a moment of anguish. Indeed, the headline says it all:
“Greenspan Admits Errors To Hostile House Panel.”
Here then is our former top economist, a man who navigated the nation through numerous financial storms but now has been suddenly blindsided by the greatest economic crisis of our generation. It was as if Greenspan’s free-market, anti-regulation house-of-cards had come crashing down on top of him–along with the millions of other victims here and around the globe–a freefall of not only investments, credit, paper wealth, employment, retirement dreams, and foreclosed realities across the land, but also of economic orthodoxy where at least one hermetically sealed belief bubble had burst! It was painful.
I know it hurt because I too have been there. First it was a fascination with classical Marxism; later it was Democratic Socialism, while sandwiched in between, an infatuation with Milton Friedman’s “Free to Choose” Capitalism. All of them, in their various ways, had turned out to be limited and, in the end, disappointing.
So now I’m wondering– why not take advantage of this teachable moment? We might begin by jettisoning all economic “isms” of the past two centuries, to step out of the rigid ideological boxes while distancing ourselves from those “true believers” who have promulgated so many economic and social disasters by trying to cram complex reality into simple ideological molds.
Next, let us invite into our thinking–not a new “ism”–but a new economic consciousness, a shape-shifting amalgam of market economics informed by (as this writer sees it), ecological principles, community values, and spiritual insights from the wealth of the world’s great religions. This new perspective I call simply: “meadowlark economics.”
Markets, of course, do some things very well: recognizing (and pricing) scarcity, identifying trade-offs, while highlighting the importance of incentives and encouraging genuine entrepreneurs. Markets also do a good job of “bringing forth the goods and services needed for a becoming existence” as one economist elegantly phrased it. Inventiveness and the evolution of sustainable, democratic, and durable technologies can also be the fruits of efficient markets as well.
But equally important, a “meadowlark economics” will factor in the health of the environment and the maintenance of natural ecological relationships including the integrity of beautiful landscapes and wildlife habitats, the protection of our soils, rivers, lakes, and aquifers, plus the broad spectrum of biodiversity, and yes–if we are very very lucky–the stabilization of Earth’s climate.
The health of local communities should also be a touchstone for economic decision-making. We might, for example, ask: “How does a new Farm Bill or Energy Bill support local food and transportation systems or encourage livable neighborhoods (vs. the damage done in unregulated free trade agreements)?
Finally, the wisdom and insights from the great spiritual traditions should be added to the mix of an ever evolving economic consciousness. Consider, for example, the growing emphasis to promote environmental stewardship (“Care of Creation”) or of redressing the savage disparities of wealth and privilege on the one hand, powerlessness and poverty on the other.
As I glance once more at the photo of Greenspan’s tortured face–again the thought crosses my mind: “Please, no more economic fundamentalism, no more militant orthodoxy. Instead, let us choose a new economic consciousness leading to a sustainable and healthy future for our Earth, our children, and our grandchildren.”
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James Eggert is a writer and emeritus faculty member at the University of Wisconsin-Stout. His new book Meadowlark Economics: Collected Essays on Ecology, Community and Spirituality (North Atlantic Books) is an exploration of the above ideas.
(Note: A shortened version of the above essay was first published under the title “Meadowlark Economic View Should Guide Us,” in the Wisconsin State Journal, Jan 24th, 2009.)
Click here for more information on Meadowlark Economics.
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Posted by hanajoey 
Posted by hanajoey 
All it took was one blunt but necessary question: “Why aren’t you eating cheese sticks with us?” As an art teacher at an elementary school, Ruby Roth was faced with explaining why she was not joining her students in their meat and dairy-centered school lunches. Though we might think that children are too young and naïve to understand vegetarianism and veganism and the heavy concepts behind them, Roth was surprised with their openness and receptiveness to her answers. Some committed to starting these new diets the very next day!
