The fact that most money is created on a basis of debt is putting hidden, but dangerous, pressure on the biosphere, argues Caroline Whyte.
Caroline Whyte argues that the only way to achieve degrowth without crashing the global economy is to change the way that money is issued. Yet, paradoxically, it would be advisable for central bankers to continue to publicly disagree with the Vollgeld and other debt-free-money campaigns’ suggested financial reforms - and for the campaigners to continue their campaigns regardless, not letting themselves be discouraged by the officials' stance.
"Mainstream economists typically concentrate on science, technology and innovation to explain economic growth – but virtually all these new innovations are new ways to use energy and it is the energy of coal, oil and gas that does the work," writes Brian Davey.
"A social change, if it is to take place, requires desire, materialized into an alternative political vision, a vision driven by a quest for the enjoyment of life, not by fear of a looming disaster, or a pure survivalist spirit," argues Giorgos Kallis, one of the editors of Degrowth. A Vocabulary for a New Era. We're publishing his detailed and thought-provoking comments as a guest post.