Educational Media Reviews Online

Hazel Henderson, a prominent author, economist, futurist, and green economy advocate, hosts this series. In each of the nine installments, she has a one-on-one, sit-down conversation with a finance and/or economic specialist or ethical investment pioneer to examine a single topic. The overarching thesis of the series states that global finance in its current state, is unsustainable for people, economies, communities, and the global environment. Ms. Henderson likens global finance to a “global casino” and an “unsustainable bubble.”

Disc 1: Taming the Global Casino
Ms. Henderson and her guest briefly give their assessment of the reckless investing enabled by global finance. The two discuss computerized trading. They state that 60% of all trades are now automated, although do not specify if this includes stop orders. The speakers continually embed the need for consumer consciousness in the investment world throughout their talk.

Disc 2: Bypassing Wall Street
Similar to the first disc, Ms. Henderson and her guest assess risks and opportunities with respect to social responsibility and sustainability. They contend that elements of current system have gotten away from true investing, and discuss the downsides of high frequency trading. This edition challenges the audience to fully contemplate the entire global finance system. Another recurring topic in this series, competition, is briefly addressed here. Regrettably, there are little numerical or other supporting data brought forth in the conversation.

Disc 3: Daring to Care – Prosperously
Questioning the very assumption of efficient markets being self-regulating, this volume speaks to the relationship between investment and community engagement. The guest brings attention to a computer simulation, forecasting the financial performances of 40 respected and socially responsible investment firms, and proved that the green portfolio could perform as well as other competitive portfolios. Specific data on these performances were not supplied.

Disc 4: The Future of Socially Responsible Investing
In this installment, Ms. Henderson speaks to author of socially responsible investment who has explored investors’ thresholds for acceptable investments. That is, some people simply refuse to invest in tobacco companies. What defines this rejection, and what other criteria for acceptable companies do these investors have? The two also look at a selection of financial instruments, such as naked credit default swaps, and their inherent problems.

Disc 5: Transition to a Global Green Economy
In hopes of inspiring others to devise new developments to cleaner equitable human development, the speakers in this volume discuss how the notion of a green America affected their career decisions. The two speak of examples of corporate pressures for profits have led to environmental disasters, including the nuclear accident in Japan and the BP oil spill in the Gulf of Mexico. Further, they contend that these instances brazenly demonstrate how society is continually paying for business's mistakes. The discussion concludes with a pronouncement that the US can jumpstart its economy with a green transition in energy.

Disc 6: Should Banks Be Public Utilities?
This installment briefly examines the idea of social credit, the notion that with free market capitalism there is an inequitable distribution of purchasing power, that needs greater regulation. It introduces radical ideas, such as breaking down the current economic system to form a new system, as opposed to trying to modify the present system, staying within the limits of what nature can provide. Unfortunately, no disc in this series wanders as far from its thesis as this one. The speakers amble through topics such as oil prices and environmentalism, and have precious little to say about the banking system proper.

Disc 7: The Politics of Money
The speakers pronounce that people are programmed to obey the “gods” that have been made through the free market economy, and do not have a broad understanding of individuals’ power and capabilities with their money. The two briefly explore the notions of “local currency and “crowd funding,” but only whets one’s appetite. They do not go into great detail on the topics that they introduce.

Disc 8: Cooperation Beats Competition
This is the most detailed installment in the series, as it provides concrete examples of cooperation amongst consumers, corporations, etc. While the concept of competition is an enduring one in business, ethical investing specialist Terry Mollner does a brilliant job of illustrating how an altruistic and cooperative mindset can not only be profitable, but build identity for a company, economy, etc. He gives a personal account of compelling Unilever to preserve Ben and Jerry’s corporate culture, product lines, etc. after Unilever bought the ice cream company in 2000. Further, Mollner details how the Occupy Wall Street movement can mobilize people into calling for action and challenging existing models.

Disc 9: Reforming Housing, Fannie Mae, and Freddie Mac
Guest Sarah Stranahan criticizes the movement toward privatization of housing markets, and the hybrid status that Fannie Mae and Freddie Mac currently enjoy. Stranahan does an excellent of job describing the drivers behind the recent housing bubble. She tracks the predatory practices of private mortgage brokers, and claims that the Community Reinvestment Act and community banks received a good deal of misdirected blame by conservatives for the housing bubble. She advocates the renegotiating of principal and interest rates to help underwater homeowners, and the incentivizing of rebuilding and greening the housing market.

Ms. Hazel Henderson is a learned, well-read individual with a noble goal. She has astutely observed economic events, trends and more for decades. The series as a whole, however, falls short of its potential. Much of this may be ascribed to the brevity of the installments of the series, but there are persistent issues that leave the viewer wanting more.

There are many outstanding insights but too often there is no detailed elaboration, definition, or supporting data. Frustratingly, the series all too often introduces terms without explanation or definition for the audience.

The creativity in the production of this series is nil. The shot for the discussion is done in a single take. While this gives the presentation a casual feel, it is also strange to see the speakers surprise one another with their input. There is virtually no engagement of the audience, as there is virtually no eye contact with audience. This gives the feeling that the audience is eavesdropping into a conversation as opposed to directly and/or visually drawing the audience in. There are no graphics, charts, explanatory footage in this series. Even when web sites, studies, organizations, etc. are mentioned, no URL, authors, etc. are presented on the screen. Disc 6 makes mention of a chart that Ms. Henderson developed, yet it is not shown.

There is absolutely no point and counter-point in this series. Further, the speakers all too often give overdramatic, eye-rolling responses to notions contrary to their own.

Discs 8 and 9 finish the series on a strong note with illuminating details, and may be outstanding acquisitions in their own right. The conclusion of the series on Disc 9, however, is very abrupt. The series imparts fine, theoretic principles, but Ms. Henderson does not sum up the series, give parting thoughts, or otherwise “wrap a bow” on the series.

This series is recommended for advanced economists, although it is difficult to conceive of another audience that this series might suit.