This is already occurring, as seen in a host of post-Seattle discussions about how to project an alternative to the WTO and global capitalism. A more radical proposal is put forward in the same journal by Joel Kovel. Unlike Korten, Kovel is not interested in reforming but in bringing down the world market system. What is interesting about this debate is that it raises the issue of whether capital can be controlled. That is, capital is the expression of a specific social relation of labor.
Capital is the congealment of abstract, undifferentiated labor.
Capitalism reduces all concrete labor to its opposite-to abstract, undifferentiated labor. It is often said that labor is the source of all value. That is, only that which is the product of abstract labor has value in capitalism. Capital is a social relation of abstract labor. As the repository of surplus value, capital is driven to constantly go beyond itself, irrespective of natural or human-imposed limits.