Category Archives: Emerging paradigm

Seizing an Alternative, Pomona College, June 4-7 – Free Plenary Sessions, Scholarships, and other reasons to participate.

Here’s a portion of the latest informational brief about the upcoming conference. You’re invited:

Don’t stay away!

(I mean, really, when is the next time you’ll be able to get together with hundreds and hundreds of people rethinking civilization from the ground up?)

            Seizing an Alternative: Toward an Ecological Civilization             June 4-7, Pomona College, Claremont, CA

ATTEND FREE PLENARY SESSIONS at Bridges Auditorium, Pomona College, Claremont, CA:

THURSDAY, June 4
Bill McKibben: 7:00 p.m. Opening Night

FRIDAY, June 5
John B. Cobb, Jr.: 9:00 a.m.
Vandana Shiva: 7:00 p.m.

SATURDAY, June 6
Herman Daly-John B. Cobb, Jr. discussion moderated by PRI’s Warren Olney (recorded):
  9:00 a.m.
Sheri Liao: 7:00 p.m.

SUNDAY, June 7
Wes Jackson: 9:00 a.m.

Southern California Edison makes ADDITIONAL STUDENT SCHOLARSHIPS (limited) available. To apply, write to info@PandoPopulus.com.

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Seizing an Alternative-sign up now

Seizing an Alternative: Toward an Ecological Civilization
June 4-7, Pomona College, Claremont, CA
This promises to be the conference of the year.
Get all the details and register here.

Beyond Money—Learning the basics of value exchange

We need to get beyond the confusions and obfuscations that surround the concept of money.

To do that we need to distinguish between what money is, i.e., its essence, and what money does, i.e., its functions. Conventional definitions of money, the ones that are universally taught in schools and universities, tell what money is supposed to do, not what it is.

The essence of money is credit. It is the issuer’s i.o.u. or promise to reciprocate, i.e. to provide real value to the market and accept his currency back as payment for it.

With that in mind, we can begin to make sense of money and effectively address the problems that arise from conventional forms of money.

Conventional thinking lists money as having these functions:

  • Medium of exchange—what we use to pay one another.
  • Store of value—what we use to save our temporary surplus.
  • Measure of value—what we use to quantify the market value of all the things that we buy and sell.

But, as I have argued for almost 30 years, these are separate and distinct functions that need to handled by distinct and different means. (For more about that see my book, Money and Debt: A Solution to the Global Crisis, Part III).

Let’s focus on the exchange function, for this is the fundamental and proper role of money, and this is where attempts to solve our global financial and economic problems must begin. Anyone who has studied my work will know that I have thoroughly articulated these concepts in my books and my various presentations. But theory and practice develop together, each informing the other, and finding ways to improve the process requires that we look at both.

Over the past several decades, numerous innovations in the exchange function have emerged, including virtual commodities like Bitcoin, LETS systems, community currencies, and commercial trade (“barter”) exchanges.

Of these, the greatest market success has been achieved by commercial trade exchanges which enable their member businesses to buy and sell without using conventional money. Rather, trading is enabled by using the members’ own credit in a process called credit clearing which simply offsets debits from purchases against credits from sales. (For a more complete description of how this works, see my book, The End of Money and the Future of Civilization, especially Chapter 10).

Over the past 40 years, much has been learned from the operation of commercial trade exchanges, and while they have achieved some modest levels of success, they have barely scratched the surface of the potential market for credit clearing services. It remains for exchanges system designs and procedures to be optimized and standardized and for local exchanges to be networked together into a vast moneyless marketplace.

The trade exchange industry has two trade associations that have been instrumental in helping practitioners to share information and in promoting standards and best practices. These are the International Reciprocal Trade Association (IRTA) and the National Association of Trade Exchanges (NATE). But over the past year a new voice, Bartertown Radio, has emerged that seeks to disseminate the knowledge and wisdom of practitioners to a wider audience. Its mission is to provide an “Educational Program for Business Owners, Entrepreneurs, Barter Exchanges, Owners or New Owners of Barter Exchanges or anyone interested in Alternative Economies.”

Broadcasts are archived and can be accessed on demand at the Bartertown Radio website. Particularly relevant is the April 18 broadcast featuring Richard Logie, a man with 20 years of experience as a trade exchange operator and software platform developer. During that interview, Richard shared his experience and knowledge about a wide range of topics including the factors he considers in allocating credit lines to exchange members, how tax issues are dealt with, and ongoing efforts to establish and enforce good standards of operation. That interview with Richard will be continued next Saturday, April 25 at 11 AM Eastern time (UTC-5). Be sure to tune in at http://www.blogtalkradio.com/educate4barter/2015/04/25/richard-logie-part-2 .

Other archived broadcasts that may be of particular interest are the April 5 interview with industry leader, Harold Rice of the American Exchange Network, and the interview with yours truly from December 13, 2014. Besides operating his own trade exchange company for almost 40 years, Harold Rice has provided consulting services for entrepreneurs and other exchange operators. He is a fount of knowledge about the details of exchange operation and has special expertise in accounting and tax issues.

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Money and Society: Free university-level online course being offered

A free online course (MOOC) in Money and Society is being offered by Professor Jem Bendell, PhD (IFLAS) and Matthew Slater, under the aegis of the Institute for Leadership and Sustainability of Cumbria University. The four lessons of the course, intended to” explode myths about the history, nature, present and future of money,” will commence 16 February 2015 and conclude 18 March 2015. For details and registration go to http://iflas.blogspot.com/2014/12/money-and-society-mooc.html.

 

Thomas H. Greco interviewed on Bartertown Radio

My December 13 interview by Bob Prentice and Sandra Harshman on Bartertown Radio considered moneyless trading in general then zeroed in on what needs to be done to take credit clearing and private currencies to scale. To stream it or download it, click here.

Bolivan President Evo Morales taking bold steps to end economic colonialism

A recent article, Evo Morales: A Bolivian idol, posted on the Aljazeera website, quotes the Bolivian president as saying,

“I have no regrets – in fact, I am pleased to have expelled the US ambassador, the Drug Enforcement Administration (DEA) and to have closed the US military base in Bolivia. Now, without a US ambassador, there is less conspiracy, and more political stability and social stability. Without the International Monetary Fund, we are better off economically.”

Bold action, indeed. Read the full article here.

Thomas Greco’s Presentation at The Institute of Noetic Sciences: The Evolution of Money and its Potential to Improve Humanity

On October 30, 2014, I gave a presentation, titled, The Evolution of Money and its Potential to Improve Humanity, at the  Institute of Noetic Sciences (IONS) in Petaluma, California.

I was greatly encouraged by the high caliber of those who attended and the quality and intensity of the discussion that followed.

The proceedings were video recorded by organizer and master networker, Sergio Lub, and can be viewed at this Vimeo site.