Frequently Asked Questions
with George Kinder
Fiduciary In All Things
Q: What does Fiduciary mean?
A: Fiduciary is derived from the Latin word for trust. It means trustworthy and caring. It is used frequently as a legal term for someone who is trustworthy and caring toward someone else, or toward an entity or principle. In its narrow meaning, one can be a fiduciary to a mafia boss, or to profits over purpose or community. For this reason, we are distinguishing it from Fiduciary In All Things.
Q: How is Fiduciary In All Things different from Fiduciary?
A: To be a Fiduciary In All Things (FIAT) requires us to attempt to live it in everything we do. Our greatest challenge is to bring our institutional structures to the recognition that their fiduciary responsibility, their FIAT, is what connects them to each of us and to being human and to the planet. It is essential and not secondary to their being. I am promoting a commitment to support the legislation of a Fiduciary Standard for all corporate, nonprofit, and governmental institutions in all things.
Q: How can you expect to pass your single sentence legislative proposal for FIAT with politics the way they are?
A: Vision does it all. If the vision is clear, if it’s spread broadly and widely, if its inspiring to everyone all over the world, if its visible every day and everywhere, how can it fail? We need all hands on deck. Please join us. Post daily. There are many people already working all over the world to solve obstacles, working on how to implement and how to hold our institutions accountable in all things. Let’s let them know we support their efforts and that we believe it is time for all of us to join together. Creating and popularizing an inspiring Vision will provide the energy to overcome any obstacle.
Q: How can you expect to accomplish FIAT in the face of such enormous and self-serving corporate power?
A: That’s the point, in a way. And once again, it will be the power of a clear and widespread inspiring vision that will accomplish it, the power of a species. Let me reframe your question. How is it that we grant every corporation both limited liability protection and an ability to enormously leverage power by the accumulation of capital, debt, and media – without asking from them a commitment to treat all of us and our values and our world humanely, with dignity and respect, without insuring that in all the things they do they will place humanity first? Ultimately it is our shared humanity that will ensure FIAT will happen.
Q: Isn’t this a bit utopian?
A: Not just “a bit.” It’s the establishment of a trustworthy world for all of us. Consider the alternative, in the news daily, the advent of Artificial Intelligence. Will it save humanity from all its ills? Or will it mean permanent dystopia, nothing but false news and propaganda? Utopian or dystopian? The major issues of today have become global. No longer turf battles between competing interests or states. We must choose to establish a standard for humanity that ensures a trustworthy and sustainable world.
Q: If the legislation is passed, how will you implement FIAT?
A: Already many groups are working on that. The whole ESG movement has established a great foundation. And the Business Roundtable, groups working on establishing codes of ethics for our corporations and government. But our most urgent job now is to promote widely, through every media and venue, the compelling vision. Our logos and emblems should help. Your posts will help.
Q: Corporations and governments serve many constituencies. Won’t it take a Solomon-like response to determine the best course of action when there are conflicts between these various groups?
A: Well, yes indeed. What we are proposing is that CEOs should act more from a place of wisdom, than merely from self-interest. It’s time that leadership formation throughout society put wisdom, and wisdom training, as their highest goal. How do we place humanity, truth, democracy, and the planet ahead of our own self interest? It’s time we studied that, made it a priority.
Q: Is just a single-sentence legislative proposal capable of changing the world?
A: Yes.
Q: What about the thousands of billionaires, is there any way to rein in their power, to make them humane and FIAT as well?
A: Everything a billionaire does is hidden behind a corporate structure. Make those corporations FIAT, and the billionaires will follow.
Q: Why do you include non-profits in your FIAT legislative proposal? Aren’t they already a force for good in the world?
A: Unfortunately, many of them become the mouthpieces of corporate power and influence, even of how we understand the ‘truth’ of things in the world. Often their names will imply a ‘good’ for the world when they are delivering its opposite. Ensuring they are Fiduciaries in All Things, including to truth itself, to democracy, Mother Earth, and all of humanity will bring that goodness we expected and intended all non-profits would have.