Means of exchange are never neutral as orthodox economists assume. Intentional Currencies respond by being explicit about the values they seek to promote and the outcomes they seek to achieve. An analysis of the use of incentives in currency design helps to guide that design. It also indicates strategies to utilise incentives to motivate intentional communities, NGOs and other volunteer-based organisations. By Graham Barnes.
Banks create money out of nothing when they extend loans and then charge borrowers interest on this newly created capital. The result is an ongoing multi-billion pound/ dollar subsidy breaking the basic rules of capitalism. What is perhaps even more surprising is that there appears to be no explicit description of the 'bargain' underlying this important arrangement. By Graham Barnes.
In 2011, Richard Douthwaite wrote in Fleeing Vesuvius that "Money once bought energy. Now energy, or at least an entitlement to it, will actually be money and energy firms may become the new banks." His suggestions for achieving this transition in the fairest way possible have a clear relevance now.
This article by Graham Barnes looks at three of the most poisonous aspects of Mainstream Money from the perspective of a currency designer exploring new money-forms.
To usher in the New Year, here's a paper by Willi Kiefel on Feasta co-founder Richard Douthwaite's profound and lasting impact on the green movement in Ireland.
The recent surge in interest in the design of new currencies is partly informed by a creeping realisation of the unfairnesses of the so-called free-market and its associated monetary dysfunction. Re-engineering money offers us the chance to imagine and create a more sustainable economic infrastructure. By Graham Barnes