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

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eings and its potential pitfalls. Money not only has the potential to contribute to global abundance, sustainability, and peace of mind if used wisely; but when restricted in its flow it also has the ability to engender unfathomable suffering and hardship. It is from this multiocular perspective that I am synthesising here what I have learned so far about this mysterious thing called money. This is not a book on economics or economic theory. I am not an economist. My expertise lies in international finance and money systems. This is why I have adopted here a whole systems approach to money. Whole systems take into account a broader, more comprehensive arena than economics does; it integrates not only economic interactions but also their most important side effects. This includes specifically in our case the effects of different money systems on the quality of human interactions, on society at large, and on ecological systems. In essence, money is a lifeblood flowing through ourselves, our society, our global human community, and should be acknowledged and treated consciously. Part One of The Future of Money elucidates the mysteries of the current official currency system. Part Two widens the view to encompass and feature newly emerging money systems. Therefore, this book deals with money in the world outside of us, describing how different money systems shape society. The forthcoming Mystery of Money; Beyond Greed and Scarcity completes our examination of money by delving into the world residing inside our own heads. It thereby steps up the scope of our money landscape one last notch by exploring the world of the collective psychology of money and of the emotions triggered by different money systems.
Stories There will also be stories mat take many forms, from totally real to quite imaginary. Although they make a point where they appear, they can also stand-alone. Invitation Finally, I would like to thank everyone from almost every country in the world, who has contributed, knowingly and unknowingly, to my grand tour of duty in money systems. Each of you has made an invaluable contribution to this chronicle of new ways of looking at money. Thank you from the bottom of my heart. And, if we are meeting for the first time here or we are old friends or passing acquaintances, I now invite you to turn the page and explore the choices that await us all as we prepare for, and trust in, a deeper grounding to our common wealth. Part One: What is Money? - 'Economics is about money, and that's why it is good.' - Woody Allen - And money is about ... what? - 'Money ranks as one of the primary materials with which mankind builds the architecture of civilisation.' - Lewis Lapham - 'We invented money and we use it, yet we cannot ... understand its laws or control its actions. It has a life of its own.' - Lionel Trilling When we think about money, we tend to take for granted its basic characteristics, which have remained unchanged for centuries. We are not likely to visit the hidden assumptions embedded in our
Page 1 and 2: THE FUTURE OF MONEY Bernard A. Liet
Page 3 and 4: *Monetary Instability; * and an Inf
Page 5: First and foremost, these money inn
Page 9 and 10: 1992, remarked. ‘I used to think
Page 11 and 12: to entirely computerize the traditi
Page 13 and 14: All four of these megatrends will b
Page 15 and 16: The following hard 'money question'
Page 17 and 18: important factor of production is b
Page 19 and 20: he or she would be ruthlessly punis
Page 21 and 22: Cardon Cartoon 'Remaining locked in
Page 23 and 24: system in our own bodies (see sideb
Page 25 and 26: Please note that none of the approa
Page 27 and 28: All four cameos are set in the year
Page 29 and 30: official national clearinghouse to
Page 31 and 32: With the growth in productivity tha
Page 33 and 34: hundred such grass-roots projects a
Page 35 and 36: Cathedrals' (the 'Central Middle Ag
Page 37 and 38: Without throwing away the positive
Page 39 and 40: But let us begin at the beginning,
Page 41 and 42: Less obvious is the mechanism of th
Page 43 and 44: The Arab scholar Ibn Khaldun claime
Page 45 and 46: Matters of belief and social conven
Page 47 and 48: paper that stated where the metal w
Page 49 and 50: and imagination, launched or comple
Page 51 and 52: What happened instead was a slow an
Page 53 and 54: arrangement has serious negative co
Page 55 and 56: anker has an additional veil. In th
Page 57 and 58:
The story from Australia (see box)
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the eleventh round - as part of the
Page 61 and 62:
A third systematic effect of intere
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ealistic possibilities for graduall
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Just one facet of it - the Internet
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the more of us have it. Government
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intervene in (or muck up, depending
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automatically to crowd out competit
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$29.95 CD ROM version of the game h
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paper books, a printer-binder - loc
Page 77 and 78:
The real revolution of possibilitie
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In Open Finance, the financial inst
Page 81 and 82:
'We can be knowledgeable with other
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They just evolved and ended up refl
Page 85 and 86:
Peter Schwartz, president of the Gl
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with this Official Future is that i
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the remaining 5% will succeed at pe
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with him, perhaps because this was
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payment and phone call made with tr
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He continued, 'The turning point fo
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these cyber-terrorists. "Love it, o
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financial deal in history so far, a
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specialised issuing corporations wi
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their goods. CUC presents that info
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demographic, and transaction data H
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The most effective solution for avo
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· Since May 1998 in Berlin, German
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mysteries of the universe they live
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· However, there is also a growing
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will have enough money to run an el
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In 2WO, my folks moved to idaho to
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I think I'll try to take you to Eur
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Professor Robert Guttman of the Eco
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as a monetary problem in the late 1
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2020: The girl in the nightmare on
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parents. Most of them had either be
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what was left of his hair. The comb
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long as they could remember. Their
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Figure 4.5 shows that the number of
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that 23% failed to participate beca
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street in our cities could become a
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occurring. And they are not the onl
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the ride over the next couple of de
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This topic will be tackled by explo
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There are two ways by which our hea
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ecame competitive with the Third Wo
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ecause I was there at the beginning
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now to 2010, has focused on cutting
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that his factory workers could buy
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Socio-political consequences Within
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iot troops). The fighting lasted th
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Everybody takes a defensive positio
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that we can always create jobs by p
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usiness boom cycle, or whether we a
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The game can be played with one or
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that many have jobs but are not doi
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strongly hierarchical and centralis
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hoarding fee technically called 'de
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1933 (Figure 5.1). This graph also
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year, Unterguggenberger addressed a
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complementary currency systems as '
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have this power should not amaze us
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In contrast, a complementary curren
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freshly baked whole wheat bread. Am
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to goods and services they might no
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David James, a Quaker from Whangare
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Currently, Australia has the highes
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underlying principle - I dared more
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asset. As is true with all currenci
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has an interest-free (unsecured) li
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type currencies, others Hureai Kipp
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The Cafe de la Paz in Berkeley, CA,
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that more economic activity - imply
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society provide the elderly with th
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Anthropologists have found that com
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Monasteries knew all about monetary
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two families formally join to creat
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Revolution. Pelt traders moved in t
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currencies. Practice has demonstrat
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credit for one hour, while Joe gets
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In a world where pensioners are bec
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than dollars, you may prefer to go
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more human contact, more communicat
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uilding streets, Lerner's team inve
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on the condition that the other sid
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and a higher educational level than
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The Japanese population is the seco
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effectively. But it has nevertheles
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culture. He said: 'Today we are inc
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system ledger for transparent accou
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All the pieces of the puzzle, inclu
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component should always more than c
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communities have not always been aw
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additional step needed to create th
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insurmountable obstacles. However,
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an interest in accepting well- desi
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described in the previous chapter -
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There are several significant reaso
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mind, it may well be currency,' sai
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What is at stake is quite substanti
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Furthermore, there is a growing con
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different reactions to the same com
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The US went one step further by hav
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2 Such improvements do not require
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The hard part of creating currency
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table should help in such a selecti
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is the ROCS, because it brings toge
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· 'Faced with widespread destructi
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We should start by acknowledging th
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the rate at which humanity destroys
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The importance of realigning financ
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ick wall with his forehead, he was
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duration of the project. (All value
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· and an adjustment reflecting the
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‘sustainability fee'. Now, what w
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(Note: the specific commodities, th
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just as today's decision of which n
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Revenue' in determining the demand
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as early as Pharaonic Egypt. It was
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therefore be fully backed, ensuring
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Such a strategy can be initiated as
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alliance among businesses would be
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The site was familiar - I could per
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dozens of names involved in Chaos a
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evolutionary step. Well, to us now
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other she wasn't. This amounted to
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circumstance. Convertibility among
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A Taoist viewpoint: All is about ba
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The Yin-Yang coherence I will now i
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Yang Yin Effects on Scarce/Competit
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competition among the participants
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Two important studies on Sustainabi
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The 'Cultural Creatives': the only
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knew each other. Ah of this was tru
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'Out of 88,000 practicing acupunctu
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This section will deal with the det
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will predictably kill the very inno
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My purpose in this book has been to
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1960s: Development of large-scale p
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each maturity only when a single cu
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2005: The last European holdout, Br
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1990’s: Age of corporate downsizi
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Both 'Mr Yamada's Retirement Plan'
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If Toffler is right, and if a monet
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This book delves into our collectiv
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'When I was young, I thought that m
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As the nation-states became the pow
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enterprises', a definition quite co
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usiness or consumer loans. This is
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A stock is a fraction of ownership
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perspective. Such volume amounts to
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whose values would be determined pr
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you know what you are doing, the re
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demonstrated time and again - from
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arrangements have made any signific
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developments in the currency market
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Stable or unstable, that is the que
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We started this Primer with the que
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Watutsi in Africa -'He is worth one
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national currencies); changes in ke
Page 377 and 378:
Floating Exchange Rate: Rate at whi
Page 379 and 380:
LETS: Acronym for Local Exchange Tr
Page 381 and 382:
Scrip: Private currency usually ini
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