Thomas H. Greco, Jr.

Thomas H. Greco, Jr. is a preeminent scholar, IMG_5262TGauthor, educator, and community economist, who, for more than 35 years, has been working at the leading edge of transformational restructuring. He is widely regarded as a leading authority on moneyless exchange systems, community currencies, financial innovation, and community economic development, and is a sought after speaker internationally. He has traveled widely in Europe, Asia, Oceania, and the Americas, lecturing, teaching, and advising. He has been a speaker at numerous conferences and has led many workshops and colloquies in 16 countries.

He advises many community and business groups on how they can create “home-grown” means of payment (liquidity) that can save small business and put people back to work by shifting control back to local communities and compensating for the shortage of credit and official currency that banks are supposed to provide.

Distinctive features of his work—a personal manifesto

Having immersed himself for more than 40 years in the study of money, banking, finance, networking, innovation, and the dynamics of power, he has attained a unique body of knowledge and skills that can be of value in guiding the next wave of innovation. He avoids wearying ideological debates in preference to empirical observation and analysis, and the formulation of solutions to existing problems at the structural level rather than at the policy level which takes existing structures for granted, like, for example, the necessity of the nation state and the corporate form of organization with limited liability privilege, centralized control of money and credit, and the “natural” rate of interest, to name a few.

With an open mind and talent for critical and analytical thinking, Mr. Greco stands out from the crowd in his ability to see deeply into the nature of the global problematique and conceive new approaches and structures that can enable the emergence of a new more just, peaceful, equitable and sustainable society.

Here are some of the unique features of his work that make it stand out:

  1. His comprehension of the geopolitical BIG PICTURE of power based on the centralized control of money, banking, and finance which enables a small global elite group to dominate economics, politics and virtually every aspect of society.
  2. His recognition that the essence of money is credit, and that
  3. The interest/usury that is built into the global system of money creation causes a debt-growth imperative that is the DRIVER of artificial economic growth that now threatens civilization and the very existence of life on this finite planet, and is also the driver of increasing disparities of wealth and power that is destroying what little remains of democratic government and is moving the world toward a fascist neo-feudal world order.
  4. His recognition that every political currency is supported by the collective credit of the people, and that we have allowed the credit commons to be privatized and to empower and enrich the few at the expense of the many.
  5. His urgent call for reclaiming the credit commons through (a) the issuance of private currencies by trusted producers who spend it into circulation, and (b) the organization of small local credit clearing exchanges that lessen dependency upon conventional money (political currencies) and bank borrowing, and create interest-free local exchange media (liquidity) based on local production.
  6. His vision of an open and transparent global system of exchange in which credit is locally controlled within small circles of users who are personally known to one another, but which are networked together in a way that enables locally-based credits to be globally useful as payment media.
  7. His recognition of the need to segregate the various functions which money is said to serve, namely, medium of exchange, measure of value, and store of value. (See Money and Debt: a Solution to the Global Crisis).
  8. His consequent call for an independent measure of value and unit of account that is separate and distinct from any established unit of political currency or payment medium, i.e., a pricing unit that is defined in terms of some physical commodity or bundle of commodities that are actively traded in the market. (See Money and Debt: a Solution to the Global Crisis, Part III)
  9. His call for an abandonment of interest-bearing debt as a general means of finance and the use of shared equity or shared revenue models instead.
  10. His expertise in the design and implementation of innovative systems for exchanging value and financing economic activity.
  11. His call for an end of taxation on labor, as well as sales/consumption taxes on basic necessities, and a shift of taxation to privileges, like the limited liability privilege of corporations and the private use or exploitation of Earth’s resources, airwaves, and other aspects of “the commons.” (See http://circinfo.wordpress.com/).
  12. His call for truly democratic governing structures that vest decision power at the base comprised of small social units (communities) that allocate resources upward as needed.

Mr. Greco is the author of numerous books and articles. His most recent book, The End of Money and the Future of Civilization (Chelsea Green, 2009), is both descriptive of the essence of money and its historical evolution, and prescriptive of actions that can be taken by communities, businesses, and governments to enhance economic stability and vitality through the decentralized control of credit and the exchange process. His previous books on complementary currencies and exchange systems are Money: Understanding and Creating Alternatives to Legal Tender (Chelsea Green, 2001) and New Money for Healthy Communities (1994), which describe voluntary alternatives to conventional money that empower communities and reward people fairly. His first book, Money and Debt: A Solution to the Global Crisis (1990) explained the dysfunctional nature of conventional political money, outlined the principles upon which a more ideal money system can be structured, and proposed a plan for solving the global debt crisis and making the transition to an interest-free, harmonious economic and financial world order.

He has written for a wide range of journals including, the Internet Journal of Community Currency Research, Alternet, Common Dreams, Transformation, Global Research, Reality Sandwich, The Whole Earth Review, World Business Academy Perspectives, At Work, Earth Island Journal, The Catholic Worker, The Permaculture Activist, Permaculture Drylands Journal, Green Revolution, Fourth World Review, and others.

A former college professor, he is currently Director of the non-profit Community Information Resource Center, a networking hub that provides information access and administrative support for efforts in community resilience, social justice, and sustainability. He maintains an active correspondence and major web presence. Many of his recorded presentations, interviews, and writings are available on his websites Beyond Money (https://beyondmoney.net/) and Reinventing Money (http://reinventingmoney.com/).

Mr. Greco holds an MBA (Business Administration) from the University of Rochester and a Bachelor’s degree in Chemical Engineering from Villanova University. He spent a year in residence doing doctoral work in Management, and Instructional Technology at Syracuse University. His work experience includes 5 years as an aerospace engineer and 14 years in academia where he held a tenured faculty position at Rochester Institute of Technology. His expertise includes monetary theory, complementary currency and exchange systems, computer applications, statistics and survey research.

He can be reached at thgreco@mindspring.com

Here are a just a few highlights of his recent of his activities

  • October 2016: Presentations at the International Forum on Inclusive Wealth and the Institute for Advanced Islamic Studies in Kuala Lumpur, Malaysia. A World Without Money and Interest: A pathway toward social justice and economic equity.
  • Panel presentation at the Mitzos conference on trade exchanges in Cagliari, Sardinia, Italy.
  • June 2016: Conducted a one week short course in Exchange and Finance for the New Economy at the Kalikalos Holistic Summer School in Greece.
  • 2015 summer tour in Europe: presentations and workshops at Kalikalos Holistic Summer School in Greece, at Trinity College in Dublin, Ireland, and at Queens University, Belfast, UK.
  • October 2014: The Evolution of Money and its Potential to Improve Humanity, presentation at the Institute for Noetic Sciences in Petaluma, CA.
  • 2013: presentations at the Second International Conference on Complementary Currency Systems in The Hague, Netherlands;
  • April 2012: A New Paradigm in Exchange and Finance: The pathway to peace, justice, freedom, and a dignified life for all. Presentation at the Public Banking Institute conference, Philadelphia.
  • 2011: Financial Planning in the Emerging Butterfly Economy. Presentation to Financial Planning Association Retreat in Florida.
  • 2011: presentations and interviews at the MINT film festival in Toronto.
  • 2010: the International Commons Conference in Berlin, Germany.
  • 2009: the Economics of Peace Conference in Sonoma, California.
  • 2007: the Gold Dinar Conference in Kuala Lumpur, Malaysia.
  • 2006: the conference on Knowledge, Business and Consciousness held at the international community of Auroville, India.
  • 2006 onward: He has spoken at four annual conventions of the International Reciprocal Trade Association (IRTA), the trade association for the commercial “barter” industry (2006, 2009, 2013, 2018).

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17 responses to “About

  1. Thomas, I am delighted to discover your work after 3 years working on a film and general understanding of the monetary system, it’s role in driving all global crisis, the interpersonal detriment to social and motivational cohesion, and it’s interminable unsustainability– leading to a vision of the world beyond money.

    I would like to speak with you as soon as possible and arrange an interview for this monumental film which breaks down these structures in a truly dynamic and populist way, with a huge array of scientists, professors, biologists, activists, economists, indigenous people, experts in technology, ecology, and many more with luminaries like Noam Chomsky and many other notable and highly reputable voices creating a broad and comprehensive view of the problem, with a visionary expose of systemic solutions to create a beacon of what can and must emerge out of this crisis, a new paradigm.

    I am very excited and aligned to everything I’ve seen of your work so far. I think you will be excited to see our work too with our organization, movement and show Moneyless Society. We are building a grassroots movement to scale out toward larger scale networked alternatives. I am also in New York myself, so the synchronicity keeps conpounding. We have much to discuss, please reach out via email.


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  5. Dear Tom,
    Thank you very much for your work, which I am discovering and which reinforces the intuitions that I have forged during 2 years of work on the subject of mutual credit.
    I’m a computer scientist in France and I’m working on the design of a mutual credit application, on mobile phone. What do you think of the option of limiting access to mutual credit to living humans, excluding legal entities and machines? Indeed, this approach avoids having to manage the allocation of credit lines, each human having only one account (requirement of uniqueness) and the same self indebtedness limit. Large-scale projects can then be carried out by the association of several people.
    Pending your thoughts on this subject, I am at your disposal to give you more details about my project.
    Yours sincerely
    Laurent Fournier


    • Mutual credit clearing provides a way of trading goods and services by offsetting purchases (debits) against sales (credits) on a ledger of accounts. That requires that some be allowed to buy before the sell, which requires that each account be pre-approved to some extent to carry a debit (negative) balance.
      Who has things to sell that are generally in demand? Businesses. So, a MCC exchange must include and be built on a foundation of business members/participants. We might exclude multi-national corporations but we must not exclude small and medium sized businesses (even if they are incorporated) if the MCC exchange is to succeed in any significant way.


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  7. Pingback: Thomas H. Greco parla delle monete comunitarie

  8. I am interested to find you. My company distributes your book in South Africa http://sa.kimabooks.com/World-Planetary-Healing/The-End-of-Money. I am also a founder member of our local CES (www.community-exchange.org.za) and asked the publisher Floris Books if there was any way we could at least pay a portion in Talents (our local currency), but they declined. The CES (aka The Talent Exchange) has been very successful with over 5000 members locally and branches around the world.


  9. It’s a pity yyou don’t have a donqte button!
    I’d certainly donate tto this exfellent blog!
    I guess foor nnow i’ll settle forr boolmarking annd adfding
    yoiur RSS feed to myy Google account. I lok forwar to fresh updattes aand
    will talk about this sijte with mmy Facebook group. Chat soon!


  10. Hi, I just came across your site. It is full of fascinating insight. Last week I did a blog post on this topic too:
    I guess the concept of an international currency for cross boarder exchange is like the dinar idea you describe in your blog except that I thought it important to have demurrage and constant replacement to keep the stock distributed and in circulation.
    best wishes, Stone.


  11. Wanted to share my latest video, Money From Nothing:

    Feel free to share, link or embed …

    Thanks for your time,

    -Roman Be


  12. Hi!

    I came across your blog through a news link. I am working on a large scale project with a local directory type site. I am a firm believer in alternative currencies & would like to pitch an idea related to alternative currency to the top management. What would be the best way to get in touch with you?



  13. Hi,

    I have landed on your site and I am extreamely interested to talk about my current project of opening up a new Barter company with a number of innovative features that will set it apart from the rest.

    Your input to my thoughts may be very positive.

    How can I arrange to talk?

    Steve Rayne


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