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The importance of ethical governance, exemplified by the Norwegian Pension Fund, is highlighted by a deplorable UK government proposal in 2016 to set up a Shale Wealth Fund.38 The fund would receive up to 10 per cent of the revenue generated by fracking (hydraulic fracturing) for shale gas, which could amount to as much as £1 billion over twenty-five years. This would be paid out to communities hosting fracking sites, which could decide to use the money for local projects or distribute it to households in cash. It is hard to avoid the conclusion that this is a bribe to secure local approval of environmentally threatening fracking operations, to which there has been considerable public opposition. Beyond that, there are many equity questions. Why should only people who happen to live in areas with shale gas be beneficiaries? How would the recipient community be defined? Would the payments go only to those living in the designated community at the time the fracking started? Would they be paid as lump sums or on a regular basis, and how long would they last? What about future generations? Can cash payments compensate for the risk of harm to the air, water, landscape and livelihoods? All these questions cast doubt on the equity and ethics of any selective scheme. They underline the need for the principles of wealth funds and dividends from them to be established before they are implemented, and for a governance structure that is independent from government and business. But

As in most Northern cities fielding black migrants, housing remained a pernicious obstacle in the 1950s. Suburban tracts constructed on a vast scale for soldiers returning from World War II—and backed by Federal Housing Administration (FHA) grants—were generally closed to Negro veterans. “Restrictive covenants” limited ownership to whites only, including recent immigrants from Europe. In developments like the 17,000 tract houses of Levittown, built on Long Island between 1947 and 1951, federally subsidized housing generated equity wealth and spawned a new generation of white middle-class Americans. Shut out of Levittown—the prototype for postwar suburbia—and other such developments for decades, Negro veterans were belatedly granted lesser subsidies for scatter-site housing in generally depressed areas. Moreover, the government subsidized public housing for Negroes that were not owner-occupied—like the homes for whites in suburbia—but rented to low-income families in inner-city areas. These federally backed housing projects capped family earning for eligibility at little more than minimum wage. The U.S. government essentially ran a two-tier program, encouraging a permanent Negro underclass of renters while operating the FHA-backed suburban home ownership program to stimulate a dramatic growth of the white middle class.

every seven years, Sagmeister closes his graphic design shop, tells his clients he won’t be back for a year, and goes off on a 365-day sabbatical. He uses the time to travel, to live in places he’s never been to, and to experiment with new projects. It sounds risky, I know. But he says the ideas he generates during the year “off” often provide his income for the next seven years.

screamed night and day, blotted out the starlit skies and Northern Lights with flashing red strobes, slaughtered thousands of bats and entire flocks of birds, banished tourism and wildlife, made people sick and drove them from their now-valueless homes. But though there was very little wind and the turbines made almost no electricity, they made billions in taxpayer-paid subsidies for energy companies and investment banks, some of which trickled down to their fully-owned politicians and “environmental” groups. As I’d learned in previous dealings with WindPower LLC, these turbines did absolutely nothing for global warming. Because wind is so erratic, wind projects must have fulltime fossil fuel plants to back them up, and the result is that wind projects often cause more coal-burning, not less. And the saddest thing is that these billions of dollars wasted on industrial wind projects could be spent on rooftop solar, substantially reducing CO2 generation and fossil fuel use. But the utilities hate rooftop solar, despite what they pretend, because it cuts their income, so they are avidly trying to curtail it.

Our planning consisted of starting up our project by generating some income through t-shirts and small products. Then we worked our way up with art shows and art projects that I’m creating under our collective. Only then did we announce the comic book, because if we don’t do these things before, no one is going to care what you’re doing for the bigger project that you’ve got coming next. We worked it up in steps, and once we announced the comic project it all came together.

PROFITS AT THE BOTTOM OF THE PYRAMID | Idea in Brief 105 words THE PROBLEM Multinational firms’ socially beneficial ventures in low-income markets need to earn profits if they’re to command corporate resources, but operating in the black is harder than it looks. THE SOLUTION Companies can use the authors’ “opportunity map” to design and undertake ventures at the bottom of the pyramid that match their capabilities and financial expectations. THE DETAILS The map sorts ventures according to cost and complexity by analyzing two key challenges in selling to the poor: changing consumers’ behavior and changing the way products are made and delivered. The map can encourage companies to forgo overly ambitious, unsustainable projects and start with smaller ones that generate steady profits.

During these times of continual economic stress and exclusion, the communities on the front lines of saying no to dirty energy have discovered that they will never build the base they need unless they can simultaneously provide economic alternatives to the projects they are opposing. So after three years of just saying no to the Keystone XL pipeline, a group of farmers in Nebraska came up with just such a strategy: they built a barn, powered by wind and solar, in the pipeline’s path. And they pointed out that the power generated from just that one barn would bring more energy to the region than the oil in the pipeline that was headed for the export terminal in Texas.23 On one level, the Build Our Energy Barn was just PR: the farmers were daring President Obama to tear down a renewable energy installation to make way for dirty oil. But it also showed their neighbors that, if the right policies are in place, there is another way to earn some much needed extra income without putting their land at risk.

The indirect harvesting of valued-per-click leisure time by corporations has led many technocapitalists to support projects like the Universal Basic Income (UBI), which would free up users’ time which could then potential y be spent generating valuable data and content on their own platforms. The driving force of this trend is the Pay Per Click (PPC) advertising campaigns that have grown simultaneously with corporations like Google over the last 15 years, but now the value of the click is not based only on the likelihood of purchasing success, as older models of Google AdWords and other targeted ad campaigns functioned. Instead, the click is conceptualised as a data-point that connects two or more actors in the network. It is those moments of connection between subjects and objects that have potential value to data-driven companies from corporate advertisers to election meddlers like Cambridge Analytica and policy influencers like Palantir. This only works because the user can be libidinally motivated to conduct the ‘free labour’ constituted by the click. The situation was prophetically predicted by one of the most historically influential Marxists still alive, Mario Tronti. His 1966 book Workers and Capital gave rise to the concept of ‘neocapitalism’, which anticipates the environment in which the digital worker operates today. For Tronti: At the highest level of capitalist development, the social relation is transformed into a moment of the relation of production. In this environment, the data-point connecting two people, generated at the moment of every click between social media pages, connects the social relation itself to a relation of production in real time. Seeing this in his own future, Tronti worried that society itself would run by the logic of the factory. Each interaction between individuals would incorporate a surplus value turned to profit by the class owning the means. dream lovers of social production. If the factory workers could be made to relate to each other in a way that was productive for the factory owners, so too could the entirety of social life be modified and edited for the profit of the capitalists. The whole of society is turned into an articulation of production, that is, the whole of society lives as a function of the factory and the factory extends its exclusive domination to the whole of society.

While Fred kept churning out projects and solidifying his status as a “postwar master builder,” he was fattening his wallet with taxpayer money by skimming off the top and allegedly committing so much tax fraud that four of his children would continue to benefit from it for decades. While the rubes focused on the salacious details Donald kept generating for the tabloids, he was building a reputation for success based on bad loans, bad investments, and worse judgment. The difference between the two, however, is that despite his dishonesty and lack of integrity, Fred actually ran a solid, income-generating business, while Donald had only his ability to spin and his father’s money to prop up an illusion.

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