The End of Money and the Future of Civilization

The End of Money and the Future of Civilization

Greco starts with the structure of money and the role of money as a medium of exchange.

Money, Greco argues, is a political instrument for concentrating power and wealth. The centralised control of money, credit and banking has harmed societies and the environment.

The present global monetary system perpetuates economic growth that is detrimental to the environment and democratic institutions and the fabric of society. The author contends that exponential economic growth is resulting in shortages in energy, fresh water and food.

In the age of climate change and the financial crisis, this is all too apparent. Exponential economic growth is not sustainable and Greco prophesises, ‘It seems that all our institutions and structures upon which we depend are breaking down.’

Solutions

What then is the solution or solutions? Greco proposes a variety of solutions from a complete web-based trading system to creating local, community- based exchange systems which can be linked to regional, national and international networks. Examples of the ‘banjar’ system in Bali, Indonesia and the Mondragon cooperatives in northern Spain shows a workable community based exchange system.

via the ecologist The End of Money and the Future of Civilization