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Todays topic
Why is todays socioeconomic system unsustainable and unfair? Required features for our monetary system to promote the sustainable and fair development Experiences in the world Conclusion / Questions
Todays topic
Why is todays socioeconomic system unsustainable and unfair? Required features for our monetary system to promote the sustainable and fair development Experiences in the world Conclusion / Questions
Source: http://www.stefan-brunnhuber.de/
Todays topic
Why is todays socioeconomic system unsustainable and unfair? Required features for our monetary system to promote the sustainable and fair development Experiences in the world Conclusion / Questions
What is money?
Everybody know what we can with money, but nobody knows what money is. The agreement within a community to use something as a means of exchange (Bernard Lietaer, The Future of Money) Agreement = Rule So we can change our money system and/or have parallel systems if we arent happy with the conventional one
Todays topic
Why is todays socioeconomic system unsustainable and unfair? Required features for our monetary system to promote the sustainable and fair development Experiences in the world Conclusion / Questions
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Examples of LETS
Hanbat LETS (Daejeon, South Korea): founded in 2000 with more than 4,000 trades (more than US$100,000) annually. http://www.tjlets.or.kr/ CES (Cape Town, South Africa etc.): an online clearing system of LETS, operational in 10 countries. http://www.ces.org.za/
WIRBank, Switzerland
A B2B CC system since 1934 in the Switzerland SMEs make a loan in WIR instead of CHF, since the interest rate for loans in WIR is lower than those in CHF WIR is only accepted by Swiss SMEs / retaining the purchasing power within their own business circle (not out into multinationals or into neighbouring countries) WIRBank as a cooperative: member companies can control WIRBank http://www.wir.ch/
Chiemgauer, Germany
One of some 30 REGIO (regional currencies) projects throughout Germany/Austria -backed vouchers that circulate within the region to stimulate small businesses and the regional economy Started by female high-school students with their professor in Jan 2003, with now 1300 individual and 600 business members More than C210,000 (=210,000) in circulation, increasing local businesses turnover Redeemable in euro but with 5% commission: 2% for the administrative cost and 3% for non-profits ATM service is available too http://www.chiemgauer.info/
Chiemgauer, Germany
Chiemgauer, Germany
Chiemgauer, Germany
Chiemgauer, Germany
How will it circulate? 1: Chiemgauer office sells C100 at 97 euro to other non-profits 2: Local non-profits sell C100 at 100 euro to their members, earning 3 euro to be spent for their own activities 3: Consumers spend C100 instead of 100 euro at local businesses, donating indirectly 3 euro to the non-profit they support 4: Local businesses spend C100 to other local businesses or redeem 95 euro, and the difference of 2 euro will be spent to cover the administrative cost of Chiemgauer office
Demurrage
Suggested by Silvio Gesell (1862-1930), a German entrepreneur and economist who found out the unfairness of the current monetary system US$100 note is much more preferred to equivalent apples as money is free from degradation So abolish the privilege of money by making it gradually perishable > demurrage Masterpiece: The Natural Economic Order (1916), with the whole text available online at: http://www.systemfehler.de/en/ne o/index.htm
Wrgl, Austria
Local currency (LC) issued by the mayor Michael Unterguggenberger in July 1932: during the Great Depression Holders of LC charged of demurrage fee LCs quick circulation reactivated local trades and people even tried to pay their tax in advance So successful economically, though, that the Austrian Central Bank, fearing to lose its grip over its national currency, stopped it in Sep 1933 Similar cases occurred in the past (up to 1950s) in Germany and France, being finished by force by the central governments
Wrgl, Austria
Wrgl, Austria
Todays topic
Why is todays socioeconomic system unsustainable and unfair? Required features for our monetary system to promote the sustainable and fair development Experiences in the world Conclusion / Questions
Conclusion
Our very monetary system has several structural defaults and is unsustainable It is Yang-oriented Complementary currencies: tool to promote Yin principles to balance our society Different systems all over the world, each one in accordance with the communitys needs
Questions 1/4
1. What is/are your complementary currencys goal(s) ? 2. What sorts of demands remain unsatisfied in your community / region / country? 3. What unused resources are available? 4. What kind of improvements can be expected by using complementary currencies? 5. Who will be the most interested in complementary currencies? More info: http://www.globalcommunity.org/cgi/gc/scan/fi=news_stories/st=db/sf=co de/se=25/sp=stories.html
Questions 2/4
Who will be the members of the start-up project team ?
Questions 3/4
1. What means will you use? commodities / bills, coins / cheques / electronic currency / some of them 2. What is the unit of your currency? legal tender / time / other goods 3.
Questions 4/4
Further reading
The Future of Money (Bernard Lietaer, Century, 2000) Interest and Inflation-free Money (Margrit Kennedy) available at: http://www.margritkennedy.de/ Money: Understanding and Creating Alternatives to Legal Tender (Thomas Greco, Chelsea Green Publishing Company, 2001) The Ecology of Money (Richard Douthwaite, Green Books, 2000) No More Throw-Away People: The Co-Production Imperative (Edgar Cahn) Healthy Money, Healthy Planet (Deirdre Kent, Craig Potton, NZ, 2006) The Princes of Yen(Richard Werner, M.E. Sharpe, 2003)
Related websites
http://www.margritkennedy.org/ http://www.accessfoundation.org/ http://www.reinventingmoney.com/ (Prof. Thomas Grecos official website) http://www.complementarycurrency.org/ (more info about initiatives all over the world) http://www.le.org.nz/ (a NZ trust) http://www.monetary-regionalisation.com/ (a website for the conference which took place in Weimar, Germany in Sep 2006) http://www.global-community.org/ (where the Community Currency Guide is available for free) http://www.regiogeld.de/ (a national association of Regio initiatives in Germany) http://www.strohalm.org/ (a Dutch non-profit which works for the implementation of complementary currencies)
Thank you very much for your attention. My e-mail: mig@olccjp.net My skype account: migjp2003 Website: http://www.olccjp.net