THE FUTURE OF MONEY Bernard A. Lietaer - library.uniteddiversity ...

It is essential to understand that the money system is currently
undergoing irreversible changes - with profound implications. As the
Time Compacting Machine illustrates, using the existing money
system to control society's economic well being has become
counterproductive. Over the last decade, we have seen the official
global money system take on unparalleled power, beyond the control
of any authority, national or international. The global monetary
crises, that periodically make media headlines, expose the cracks in
the old money system. The changes go beyond the introduction of the
single European currency (the euro), smart cards, the explosion of
e-commerce or even a reform of the international monetary
institutions. With the growing impact of the information revolution,
and with repeated shocks to the status quo, symptoms of a much
deeper mutation are becoming visible.
One implication of the above is that we see changes in who is
issuing money - not only traditional national banking systems, but
private corporations and local communities as well. There are also
changes in the conditions for issuing currency, such as the advent of
interest-free money. Choosing to use different types of currencies can
result in different social behaviors some money systems foster
cooperation while others encourage competition. By becoming aware
of the various money systems and their effects, we can choose among
these currencies when making different kinds of financial
transactions. Thus our ability to make knowledgeable choice allows us to
imagine, devise and support different futures.
With some understanding of the concepts behind Sustainable
Abundance, we can now address what it means in practice. The four
vignettes that follow provide insights into what Sustainable
Abundance might look like in daily life for different parts of society
around the world.
Four seasons in 2020