Another consequence of the globalization of money is the diminished ability of governments to manage their economies. The real economy of goods and services is now driven by the artificial and even mystical economy of currency exchange, an economy dominated by a few very large currency speculators. In the 1970s the US passed the Community Reinvestment Act. It said that banks had to lend at least a part of their deposits generated within their communities back to all segments of their communities. Trade rules should encourage the reinvestment of wealth generated by a community back into that community.
Capital can also translate into ownership and control.
Communities should be able to develop rules that encourage local ownership and discourage absentee ownership. Digital highways, unlike concrete highways, are not polluting And information, for the most part, is non-invasive. We should design rules that accelerate the flow of informational products. However, these rules should not only encourage increased flows but also encourage an increasingly horizontal rather than vertical transfer of information. Today planetary corporations beam messages to people who they view solely as consumers.