Graham Barnes attended the recent Transition Networks one day conversation in London on ‘Peak Money and Economic Resilience’. Prompted by the event, he has contributed some thoughts on the fundamental objectives of a local exchange currency – increasing both the proportion of trade that is locally-based, and overall liquidity – and on how these might best be achieved.
The Currency Group is a primarily online Community of Practice for local currency advocates (and would-be advocates) to share experience and information around the development and implementation of local currencies – initially via a Facebook Group and a group email list.
Major earthquakes are proving to be a catalyst for the Lyttelton community, near Christchurch in New Zealand, to create a sustainable future. Margaret Jeffries writes in Fleeing Vesuvius that “Rather than waiting on the sidelines for a Government agency to hand out solutions, Lyttelton is seeking out what its own localised answers might be.”
Feasta’s particular approach to sustainability economics is to focus attention on the inadequacies of underlying systems. The development of local economies suffers from two particular adverse systemic effects – the in-built transfer of wealth from those that need money to those that already have money via the servicing of debt; and the transfer of wealth from the locality to the centre as globalisation progressively centralises economies. Local currency developers need to develop strategies that mitigate these two effects or they will remain limited in size and influence.
As Naomi Klein has been pointing out recently, effective action on climate change requires changes that go well beyond simple shopping decisions about which lightbulb to buy – what’s actually needed is political change on a global level. Rather than shrinking back from this idea, what if we embraced it and recognized that such change, if carefully planned and implemented, could bring about vital improvements to the lives of most people around the world?
Brian Davey has produced two more posters for the Occupy movement which can be downloaded from this site. They describe the Eurozone crisis and the “monetocracy”: the one percent who exercise power over the rest of us.
The financial world has out-stripped the real world. Our current economic crisis is too good an opportunity to miss since it allows radical action to be taken.
by Graham Barnes. The debt we accumulate as individuals, companies and governments is instrumental in depleting the planet and deepening the rich-poor divide.
This ‘value-led’ critique is powerful and compelling to those wishing to listen, but it is not enough, of itself, to procure any meaningful systemic/ structural change in the monetary regime. We need to communicate widely about the side-effects of debt-based money, and to help people to imagine non-debt based alternatives.
The Occupy movement needs some clear, simple ideas to champion. Debt cancellation is a clear, simple idea – but how can it be done in a way that is not chaotic and is fair to all, eg to the people who were never in debt anyway? And can it help us to start to work on our “ecological debts” too?
by Graham Barnes, from Fleeing Vesuvius. No currency will work unless people accept it from each other so this novel money will be put into circulation as a way of rewarding those who are accepting and spending it most.
Feasta has been exploring the potential for parallel currencies for some time, largely through the Liquidity Network project which is aimed at boosting local economies at a time when euros are scarce. Now a related idea is gaining traction at a national level in the form of a Parallel Punt. This surprisingly conservative option was discussed at Feasta’s Autumn Conference held in Dublin on 22nd/ 23rd September. In this preview Graham Barnes set the scene for what could be a gamechanging development.
by Richard Douthwaite, from Fleeing Vesuvius. At present, many over-indebted countries are in a quandary — they cannot preserve both their banking systems and their currency’s value. This conflict has come about because of the relationship between money and energy supply. To prevent it arising in future, money needs to be issued in new, non-debt ways.
In this week’s article from Fleeing Vesuvius, Laurence Matthews discusses Cap & Share: a fair, effective, cheap, empowering and simple way to reduce emissions from the burning of fossil fuels. It could form the basis of a wider global climate framework but how realistic is it to call for its introduction?
Richard Douthwaite, co-founder of Feasta and much-loved colleague and friend, died on November 14th 2011 after a long illness. We will miss his unique and far-ranging intellect, the clarity of his thought and writing, his warmth and his laughter. Tributes to him have come in from around the world and you can read them here.
In line with his wishes, we are continuing with our scheduled events and publishing of articles.
Independent radio producer and Feasta member Mary Phelan travelled to Tanzania and Zanzibar earlier this year in order to make two radio documentaries on the effects of climate change in East Africa. The first programme, which focuses on the impact climate change is having on Zanzibar, will be broadcast on Saturday 5.3.2012 on Newstalk 106-108fm at 7am. The second programme, looking at the situation in northern Tanzania and Mount Kilimanjaro, will be broadcast the following day, 6.3.2012 at 8am.
Schumacher Ireland Summer School
Exploring the transition to a sustainable society on the island of Ireland
Schumacher College is organising its first Summer School in Ireland from 11th to 15th June 2012, in conjunction with Queen’s University Belfast. Feasta members Jonathan Dawson and Peadar Kirby will be among the course teachers. [...]
Feasta’s Autumn conference examined measures that this country could adopt to secure its economic future which would not leave it reliant on external factors largely outside of its control. Scenarios explored included the potential collapse of the eurozone. The conference featured prominent international and Irish economists and was aimed at economists, politicians, policy-makers, business people, social partners, and other key decision-makers.
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