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Strohalm Institute: www.strohalm.nl Union of Concerned Scientists: www.ucsusa.org World bank: www.worldbank.org Worldwatch Institute: www.worldwatch.org 14
1 Glossary Barter The direct exchange of goods or services without using the medium of a currency. Benefit abatement Reduction in unemployment, sickness or domestic purposes benefits when income is received from another source. Work and Income New Zealand (WINZ) applies a formula to calculate this reduction. Bretton Woods A town in New Hampshire, USA, where the Bretton Woods Agreement was finalised in 1945. The system agreed to gave the status of official global reserve currency to the US dollar, while the US guaranteed the convertibility of dollars to gold on demand of other central banks at a fixed rate of US$35 per ounce. In 1971, President Nixon delinked the dollar from gold, thus effectively annulling the Bretton Woods Agreement. Since then currencies have been floating. Circulation incentive An incentive built into a currency designed to stimulate more rapid circulation. This involves either imposing a financial penalty for hoarding the currency or an incentive for using it. One currency incentive is demurrage (see below). Commercial trade barter The practice by which a barter company sets itself up as a broker for a mutual credit system between commercial businesses and charges a percentage commission fee for each buyer and seller in each deal. Community currency A currency designed and accepted by a community of people, whether the community is defined geographically or by some other criteria. Complementary currency A currency that complements or completes a major currency; the major currency is usually the national currency. Currency Synonymous with money, but emphasising the medium of exchange function of money Currency in circulation The money that is in circulation in an economy. Some of the currency in circulation is in the hands of the public and some is in the possession of the various national banks. Demurrage A fee placed on any money that is ‘parked’ and remains stationary. Also defined as the extra charge per unit of time required as compensation for a delay (this definition is derived from the concept of delay of a ship, railway wagon, etc., caused by failure to load or unload before the time scheduled for departure). Demurrage acts as a circulation incentive and as a disincentive to
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Healthy Money Healthy Planet by Dei
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2 During the 1960s I listened on th
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4 money. Richard’s enthusiasm for
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6 must first be complemented by mon
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6 For over a decade, Japan struggle
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8 interestbearing money creation.
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10 provides a benefit for seller an
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2 After that, it didn’t take long
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4 Bank B. This is called a ‘depos
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6 Second comes the bit where banker
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8 debt, hence the collective debt c
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10 simply unsustainable in a finite
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12 pieces of paper grant the bearer
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14 master of all industry and comme
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16 Money Supply 1935 - 2000 120000
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18 commercial banks and is lent int
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2 And nor are things getting any be
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4 international trade in currencies
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6 The data on New Zealand mortgage
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8 The scheme has had unintended soc
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10 Household loans (1978-2000) 90 8
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12 City Council in mid2000 review
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14 Similarly, mortgages are classif
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16 And it is not just bank assets t
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18 Keeping the Secret But surely if
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20 Deputy Prime Minister. I asked h
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22 Individuals have to compete with
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24 instability. This speculation is
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51 cared for. The cancerous parts o
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53 constraints. What we need are so
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55 accelerating. Eighty per cent of
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57 waters to draw down. They also s
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59 As far back as 1987, a UN World
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61 The State of New Zealand Since 1
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63 Health and Disability Like other
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65 Low skilled jobs have largely di
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67 • One in two people in Ireland
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1 4 Unhealthy Globalisation The Sir
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3 Although the process of corporate
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5 globalisation is transnational ca
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7 Many others have spoken of invisi
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9 currencies to the US dollar. The
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11 policies of these nations in ret
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13 000). Round Tables The original
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15 annual meeting in the small ski
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17 When an enemy is powerful and ce
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19 In January 2001, protesters demo
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Martin Khor, Direitn 21
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78 Every day we hear politicians, c
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80 not return to the depression of
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82 billion, equivalent to 39 per ce
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84 which in turn rests on nature it
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86 increase. And when jobs are crea
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88 rather than adding them to the w
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90 achieved very different levels o
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92 placed at the top of the lists.
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88 6 Facing the Critics Through the
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90 the interestbased system, the
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92 good or fair or sustainable. An
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94 Certainly there are other ways o
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96 landlord who charges you rent al
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98 believe that credit to be valuab
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100 If interest rates were zero the
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102 It is quite fair that banks sho
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2 free money before, as we shall se
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4 In precolonial times, Maori tri
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6 In Maori tribes, the gift society
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9 What Gives Money its Value? To he
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11 accept money as payment, we unco
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13 goes still further and calls mon
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15 Spanish and Dutch coins from ove
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17 claimed that the UK’s financia
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19 Today, the Reserve Bank retains
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2 living systems. Finally, it discu
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4 If our species is to survive, a n
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6 with its own currencies, the patt
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8 While it is possible for each tea
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10 addiction, chronic illness and i
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12 4. Human economies can and shoul
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14 furniture transported at great c
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16 down and money has been moved ar
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18 areas? Is there a continuing dyn
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Some estimate the costs of traffic
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22 be a tension between the two. Th
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24 democracy at the local governmen
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26 as the individual organs of the
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2 The democratisation of national c
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4 her children who were fed by its
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6 happened - the imposition of a co
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8 existed and thrived for thousands
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10 In addition, by focusing on loca
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12 there is no hierarchy. As we saw
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2 Michael Linton, David Weston and
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4 could. He described them as ‘a
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6 resorts may find themselves amass
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8 problems. Since then, the system
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10 forms. In version 1, operating u
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12 All the following examples of co
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14 sent a researcher to check the w
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16 Salt Spring Island Dollars Salt
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18 British Columbia Financial Insti
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20 partnership. This trend has spre
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22 traditional rice planting and ha
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24 The city solicitor put the bigge
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26 In the next chapter on commercia
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28 43 Email from Eric Booth to Cal
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2 Enz, who were supporters of the f
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4 As with WIR, businesses are regis
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6 A significant innovation in New Z
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8 granting temporary credit where t
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10 requiring transactions to be 100
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12 participants of the scheme were
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14 Ideology of the Wirtshaftsring
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255 are already in possession of it
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257 that all hoards of money would
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259 sophisticated that Egypt became
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261 Austria, for a period of 14 mon
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263 US$260 million worth of work in
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265 Saving will become impossible.
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267 law professor in Italy. Profess
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269 The Chiemgauer 21 In early 2002
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271 Currency to Support Waldorf Sch
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20 It started in 1989 when Frank To
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22 Privately Issued Fiat Currencies
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24 The Note Corporation itself then
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26 andahalf years, A$3.5 millio
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2 of agricultural and mining produc
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4 such resource as fossil fuel, sin
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6 • The demurrage charge would re
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1 15 Lessons Learnt From Currencies
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3 Regardless of whether the transac
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5 payment of taxes. When the mayor
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7 within that global economy we mus
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9 Money can also be spent into exis
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11 Huber and James Robertson, 6 it
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13 apparently no one spread rumours
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15 One of the weaknesses of local c
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17 example (see page 000), the demu
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19 trading. We therefore need decen
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21 If citizens decide to build a se
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23 In Even if the Reserve Bank deci
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25 possibilities for reforming our
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27 1905. 2 Michael Reddell of the R
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2 Taxation Policies Before I discus
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4 But, like other assets, realest
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6 Most taxes fall on work. It makes
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8 slows down the increasing gap bet
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10 Bob Keall has also proposed taxe
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12 ways of avoiding paying tax. Tax
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14 Ltd, 1879. 3 Henry George, Socia
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2 of reserves, a single exchange ra
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4 revealed to show that they wanted
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6 Countries using the Australian do
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8 3 Helen Clark in an interview on
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2 community projects can be funded.
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4 feeling that the banks were not t
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6 terminals per 100,000 people, com
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8 to lend to groups rather than ind
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10 Islamic Banks Banks run along st
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12 decided to create an entirely ne
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14 Attempts to Start New Banks In 1
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16 During the local body election c
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18 Zealand Post was that there was
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20 Problem numbertwo — fees going
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22 Other microcredit schemes. A goo
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24 now operates are the Cooperati
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26 They donManchester Unity does no
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28 The Wellington Women’s Loan Fu
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30 The Future of Community Banking
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32 8 Quoted in ‘Banks Profit Exce
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34 45 Details of Consumers’ Insti
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2 created when commercial banks iss
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4 Fund (IMF) protect global corpora
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6 economic thinking and taxation sy
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8 It is not easy to start again and
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10 rest of the world, a US deficit
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12 competitive when the money syste
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14 environmentally friendly longt
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16 practitioners know a great deal
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18 moneycreation regime will natu
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20 international currencies. Some o
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22 and James Garfield have struggle
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24 away and the scientific programm
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26 Sources of Hope There are ground
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28 beneficial effects. Indigenous i
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30 taught me that some staff are re
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32 New Zealand’s isolation, humil
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34 • Visit Bali or Japan or any o
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36 Although such a system will not
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1 Ralph Chaplin Bars and Shadows. 2
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and narrated by Bill Still, and ava
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11 Lietaer, The Future of Money, p3
Page 389 and 390: 37 Allison Stinson, ‘Developments
Page 391 and 392: 4 Roy Madron and John Jopling, Gaia
Page 393 and 394: 25 Viviane Forrester, The Economic
Page 395 and 396: 2 Michael Rowbotham, The Grip of De
Page 397 and 398: 25 Text of the Genoa G8 Summit, acc
Page 399 and 400: 18 The Independent, 21 July 1999. 1
Page 401 and 402: 14 Wolfgang Rosenberg, Money in New
Page 403 and 404: 6 Fritjof Capra, The Web of Life: A
Page 405 and 406: 11 Bernard Lietaer, ‘The Future o
Page 407 and 408: 39 1.1 Warehouse receipts. (The fin
Page 409 and 410: 41 2.3 By a commercial company, sma
Page 411 and 412: 43 Summary of Complementary Currenc
Page 413 and 414: 45 000) volunteers. Credits are put
Page 415 and 416: 47 the currency generating enthusia
Page 417 and 418: 140 Appendix 2: Useful Websites Gen
Page 419 and 420: 142 writings of evolutionary biolog
Page 421 and 422: 144 Green Dollars/LETS www.appropri
Page 423 and 424: 146 www.earthsharing.org.au An Aust
Page 425 and 426: 148 Email: bryank@earthsharing.org.
Page 427 and 428: Bibliography 1 Books and Chapters i
Page 429 and 430: 3 Douthwaite, Richard, The Ecology
Page 431 and 432: 5 Henderson, Hazel, Beyond Globaliz
Page 433 and 434: 7 Mitchell, Ralph A., and Shafer, N
Page 435 and 436: 9 Cobb, Clifford, ‘Displacing Bad
Page 437 and 438: Turnbull, Shann, ‘Why Reducing Ta
Page 439: The Guardian (UKbased daily) The
Page 443 and 444: 3 shared land ownership. Koha The M
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