Yesterday I explained what JÈrÙme Guillet in the European Tribune calls The Anglo Disease, and how it has produced a completely dysfunctional economy in many affluent nations (and co-dependence with struggling nations). I used the example illustrated above of a fictitious national economy that generates its wealth entirely by printing money, persuades other nations to accept that money in return for real goods, and addicts its citizens to living off a stock market Ponzi scheme believing, because the price of their shares is ever-increasing (giving them additional borrowing collateral), that they are somehow well-off despite not producing anything of value. I also explained the five deceptions necessary to perpetrate such a fraud, and how vulnerable the economy is to the public’s (and other nations’ citizens’) catching on to these deceptions and refusing to go on stoking this phony and worthless economy. Part Two of this article, today, is a possible prescription for how such an economy could be transformed into a real, sustainable economy, Before I begin, however, I want to deal with three issues that several readers raised in response to Part One. The first is the power of innovation and the capacity of affluent nations to generate real value and make their economy more sustainable through innovative products, processes and technologies. The second is the argument that the existing phony economy, through printing and distributing funny money, is actually redistributing wealth from rich to poor. And the third is that it is somehow possible to perpetually enhance wealth and well-being of all people in the economy without increasing the use of resources, without ‘growing’. Here are my responses:
So how might we transform the phony, house-of-cards economy into a truly sustainable one? As I suggested yesterday, to do so would be extremely difficult, require unprecedented cooperation and collaboration of all of us, and entail a great deal of sacrifice by people (us included) who (to put it mildly) have historically not been inclined to give up what they have so others can share. But if were able to achieve these conditions, here’s how we might be able to do it:
This is, of course, a tall order, and perhaps, without a massive global economic crisis at least, impossible. My only claim, based on my knowledge of history, economics and business models, is that it would work if we all wanted it to work. We may, some day in the next couple of generations, have no choice but to find out. Category: Alternative Economies
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Very well articulated, Dave. Bravo ! Some similar form of these six steps is what Umair Haque is beginning to proselytize as is Michel Bauwens, whom you have cited.
This is, of course, a tall order, and perhaps, without a massive global economic crisis at least, impossible. My only claim, based on my knowledge of history, economics and business models, is that it would work if we all wanted it to work. And the above is in my opinion exactly correct. The current economic system is man-made, not natural, but not humanistic, which whatever system we and our progeny will live under needs to be if the (whole) human system is to thrive into the future. We can make a different and better one if, as you point out, we all want it to work.
A lot of people have intuitively seen and adopted these thoughts – uniquely expressed here – and taken it upon themselves to live in closer cooperation with their surroundings. Bill Mollisons’ “Permaculture” is centrally rooted in this sort of theory/philosophy. It presents a holistic and fair “economy” but leaves it to individuals, not governments and corporations to resolve. To extend on Jons’ comment – We ARE making a difference – some of us are choosing this way (most arn’t, it’s a hard one to sell.
I am working to create a community-centric economy based on a free mesh network and kiosk running Croquet designed to resemble the community, mapping its assets, and running Bright Neighbor, community-centric social networking software. By mapping community assets, community members are encouraged to seek their needs locally (through intrinsic and extrinsic rewards). Many of your ideas have already been incorporated into our design, but I welcome feedback.