Evolving a Citizen-scale Economy
We asked 12 pioneering & visionary people who have been working for decades in the various practical aspects of the new economic paradigm, which are the 5 things they consider most important for changing the economy.
More and more people are realising that no truly sustainable activity can survive in an economy which is inherently exploitative. What's more, now we understand that there is a basic and serious fault in how current money is designed. But exactly how does money work? and - especially - where can we start, ourselves, as ordinary people, to change it?
1. The importance of understanding basic ecosystems science (if any economies are going to exist)
2. Why designing holistically is critical (not just copying recipes eg. creating complementary currencies)
3. How easy it is to reproduce old patterns with new names & what the needed development of consciousness might look like
4. What's essential to turn around in order to transit from Ego to Eco & how badly the arms of mass distraction are cutting off collective intelligence
5. How this transition can be a lot of fun & prosperous for everyone
1. Generating local economies requieres recreating all parts of the economic system: production, consumption, financing, marketing/distribution & exchange technologies
2. Social currencies are important, but they need to work with all other aspects of the economy in order to be effective.
3. In order to create another economy we also need to create alternatives that can substitute the dependency on the international banking system.
4. As well as local money, we need alternatives to the currencies that predominates at international level. The spread of bitcoin could be a key in how to create them.
5. It is necessary & possible to create at bioregional level the economic & social holistic systems to move us away from the nation-states framework, & integral cooperatives are an example under construction of this.
1. Eliminate from all universties the courses on neo-classical economics & replace them with oekonomics (management of the home - locality - with more sustainability).
2. Reduce the conceptual gap between politicians & the poor, through wider & better participation of the poor in the decision processes that affect all of us.
3. Strengthen all organizational forms (socio-economic & environmental) at local scale.
4. Support more ethical / spiritual development in the first years of education.
5. Make other forms of economic organization better known.
1. Challenge yourself and learn the truth about life, all living things, and about their relationships, the possibilities, and what it all means.
2. Settle only for good and excellent. Learn what good really is, as opposed to less-bad or what we often settle for.
3. Participate in the Economy of Life. Design for Life with it's cycles and flows. Enable more of it. Feed the Life Economy and it will feed us.
4. Live in right relationship with all of creation. It is not so much a question of feeding the world or survival as of our relationship with nature and each other that will sustain and fulfill us.
5. Do more than you think you can do. Be alert. Be creative. Collaborate and form relationships. The vision must be of a brilliant, amazing, abundant world - nothing less!
1. Ethical Biomimicry Finance™ methodology for investments – Include all social and environmental costs and “internalize” those costs on all company, government, academic and Institutional balance sheets.
2. Better metrics Beyond GDP – Move to include all social and environmental costs and subtract them from GDP. Include all indicators of progress in health, education, environmental quality, reduction of inequality and poverty gaps. Add an asset account for all public investments in infrastructure, education, heath, etc., to balance the “debt” side.
3. Undo the Bank of Sweden Prize in Economics to change how the economics profession is viewed – The Nobel family has already dissociated from this Bank of Sweden Prize to de-link it from the real Nobels.
4. Financial Transaction Tax – Support all new financial transaction taxes (less than 1%) to curb high frequency trading without hurting real investors and to raise revenues for public purposes.
5. State and national banks – Return to local, municipal and state level banking geared to serve real economies. Downsize the global financial bubble, break up “too-big-to-fail” banks or nationalize them.
1. What's abundance & scarcity in the shape of living well?
2. Why do we choose scarcity behaviors so frequently? What's the role of our personal myths?
3. How many people/territories/times do we feel responsible for through our lives?
4. What's power nowadays? What has it been turned into?
5. Which tools in service of scarcity/abundance do we use in our daily life?
1. Change what we measure. Integrate metrics such as Gross National Happiness and Eco-Footprint into GDP.
2. Change curriculum for university economics students to reflect ecological and social realities. They are the economists of the future who dictate economic policy.
3. Develop curriculum for schools and adult education reflecting Eco-Economics.
4. Campaign for monetary reform: governments issue debt-free, interest-free money to run health and education services.
5. Develop robust model for resilient local economies based on range of tools in the social/solidarity economy: credit unions, micro-credit, coops, social enterprises, local currencies etc.
In this quite famous most recent interview, in which he talks of the 15M Movement, we can hear the piercing clarity with which he understood & communicated that, to change the world, first of all we have to learn to think for ourselves, & see how questions of values, ethics, psychology, education & economics are totally interconnected.
2- Regain resilience by rebuilding local safety margins, supply chains and distribution networks
3- Reduce structural dependencies on large centralized life support systems or long and vulnerable supply chains
4- Work at a smaller scale of governance, as effective organizational scale will be smaller as the trust horizon contracts
5- Reboot the financial operating system once the coming deleveraging has run its course ('plain vanilla' finance)
1. Money should be issued debt free by the people and resemble the goods which it represents in its natural rate of decay. Money should be no more or less desirable to hold than goods and services.
2. Since the earth belongs to everyone, but some land is more valuable than other land, those who have the rights to the guardianship of land should compensate the general public with regular rental payments. The rentals should be set by auction. Land should be ideally taken out of the market system and effectively owned by the larger community and all land should be perpetually leased.
3. Monopolies in currencies (where there is only one currency in a country) is inherently risky and vulnerable. There should be an ecology of currencies.
4. Currencies can be designed differently according to the purpose and the community. E.g they can be designed for the purpose of redistribution of wealth, to make the education or health budget go further or to encourage small businesses.
5. Money, which is like energy, should not flow freely across country border but should be managed to ensure inflow equals outflow. If too much flows in the economy of the country implodes and it too much flows out the economy withers and collapses.
1. Ground-up regenerative economics
3. Mutual credit
4. Redesigning work and compensation
5. How various tools can work in concert
This whistlestop re-telling of world economic history squeezes 12,000 years of history into 18 slides.
Its focus is the changing nature of money and the rise of the monied class in US and Europe.