Get mailed with new posts
Adventures in mutual credit
While anecdotal evidence abounds for strange coincidences mind to mind communications, and the supposed laws of physics being broken in ways we find meaningful, it has been very hard to capture these events in a laboratory in a way that the rump of the scientific body finds acceptable.
The first 'Transition Pounds' in the UK, Totnes, Brixton, Stroud, Lewes, and then Bristol lacked proper theoretical foundations, and achieved very limited circulation. Even today, on its fourth issue, the Totnes pound is extremely sluggish. Even with discounts, pound-backed (proxy-pound) models in which national money is captured for the local economy lack incentives for those local pounds to circulate.
Having kept an eye on the altcoins for a good while I wasn't initially impressed by the claims of Faircoin.
There have been several coins issued attached to good causes but without a clear monetary function. The idea is usually to set up a cryptocurrency, premine some, market the brand and sell the premines for a good cause. In this, there is no consideration of what makes the coin a desirable purchase, and the coin is so useless i.e. unused and therefore unusable, that its purchase constitutes little more than a straight donation.
The Troubles of Northern Ireland were to a large extent kept out of the press at the time, being mentioned only when prominent people or the mainland were attacked. Judging by the lack of coverage in the media, we might still be forgiven for thinking that the troubles are over, In many ways the Troubles are over.
We all have an idea of what needs to happen; we are piecing together the Transition to a better world in the ways we know how; many of us are reaching out to potential allies, although building productive partnerships is difficult.
The internet is a powerful tool that brings together people who share ideals, languages, and passions and so we spend a lot of time connecting to allies online. Where else in my life could I find people to advise me, support my work and use my software?
Currently the vast majority of complementary currencies are local initiatives. I'm talking about real initiatives with daily trades rather than mere ideas, models, exaggerations non-starters, and dead systems.
This is just a few notes about why the Credit Commons design is better than bitcoin. This is not an article and is written for no particular audience, but it could be!
We have to thank Tom Greco for bringing the phrase 'Credit Commons' to our attention. It reminds us that everything which was common is being enclosed, and that the abstract, misunderstood and very simple thing, credit is the most critical to bring about a fairer and more sensible society.
Published last year in Open Democracy blog
Recent currency innovations like Bitcoin and an economic recovery now dragging into its seventh year have led many people to question what money is - and more importantly, what it should be. Answering this question is fundamental to any attempt to transform society.
Economists will tell you that money has many different functions, most importantly as a store of value and a medium of exchange.
Just heard Matthew McStravick today talking about Economy of Hours, his widening of timebanking to include local businesses.
Running the Timber Wharf Timebank in Hackney, London, he was frustrated by the limited scope of the project which, following donor priorities, had to focus a single social problem.
In 2011 after second deluge of Quantitative Easing in the US, congressman Ron Paul challenged Federal Reserve chairman Ben Bernanke asking him, "Is Gold Money"?
Do you know what money is? Have you noticed that there are competing definitions? How could money have become so pervasive in our minds and relationships without being properly defined? How can we improve the technology of money when we don't even know what it is?