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CHALLENGING the RECESSION Can we Change the Economy? Yes, we Can! Sabine K McNeill Birkbeck College 30/01/09

Challenging The Recession

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A talk given at Birkbeck College to the Open Discussion Society on Jan. 30, 2009 - as a precursor to

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Page 1: Challenging The Recession

CHALLENGING the RECESSION

Can we Change the Economy?

Yes, we Can!

Sabine K McNeillBirkbeck College – 30/01/09

Page 2: Challenging The Recession

best

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planetary health

4 plausible futures - 2030

Selfish bubble Ecological age

Carbon is crimeLife is cheap

Page 4: Challenging The Recession

Money & Currencies

• LETS

– Local Exchange Trading

Systems

– Green Money Network

• Professional Barter

– B - 2 - B

– Bartercard

National Currencies

• National Debt

– Est. 1694

– Debt Management Office

est. 1996

• Nation States

– Borrowing

– Taxing

Campaign for Interest-Free

Money

Forum for Stable Currencies

Global Table

Private Currencies

Page 5: Challenging The Recession

Cash & Credit

• Issued by States

– Interest free

• Notes

• Coin

• Cash : Credit Ratio

– 1945: 48% : 52%

– 1968: 29% : 71%

– 2008: 3% : 97%

Bad Money

• Issued by Banks

– Interest bearing

– Wholesale

• Monetary & Financial

Institutions (MFIs)

• Private Non-Financial

Corporations (PNFCs)

• Other Financial

Corporations (OFCs)

– Retail

• Consumer Credit

Good Money

Page 6: Challenging The Recession

Credit = Trust

Good Credit

• Mutual Credit

– LETS

• Credit without collateral

– Microcredit

– Grameen Bank

Bad Credit

• National Debt

– unrepayable

• Development Loans

– Currency instabilities

• Mortgages

– Variable interest rates

– inflation

Page 7: Challenging The Recession

The National Debt

• The 3rd Way

– Public Credit

Bad Money

• Monetary Reform

– Money as Debt video

Good Money

Page 8: Challenging The Recession

Treasury Select Committee

• Examine the expenditure,

administration and policy of

– HM Treasury

– HM Revenue & Customs

– Associated public bodies

• Bank of England

• Financial Services Authority

169

Sigs

>4570

Page

views

‘Green Credit’

for

Green PurposesChanging

the Cash : Credit Ratio

of the Money Supply

to Ameliorate Climate

ChangeA Response to the Inquiry

of the Treasury Select

Committee

into Climate Change and the

Stern Review

Sabine K

McNeill

Organiser

Forum for

Stable

Currencies

21a Goldhurst Terrace

NW6 3HB

T 020 7328 3701 – M 07968 039 141

[email protected]

www.greencredit.org.uk

Page 9: Challenging The Recession

YunuSphere >12,970 hits

• Creating a World without Poverty

– Social Business

and the Future of Capitalism

• IT 4 Hope

– IT Solutions to End Poverty (ISEP)

• Sustainable Investment Network

• Developers

• Traders

• Savings

Page 11: Challenging The Recession

Personal is Political

Personal

• Home

– Protection against abuse,

harassment, rape

– Birth control

– Marry / gender roles

• Profession

– Equal wage

– Promotion

– Career / Family / Both

– Job in male-dominated fields

• Financial independence

Political

• Right to vote

• Quality healthcare

• Quality daycare

• Representation in political

and religious institutions

• The right to speak your

mind, instead of being

dismissed because

you’re a woman

Page 12: Challenging The Recession

Digital Money

• Electronic Money: Flop or a New Run-Up?

• Means of payment = Carriers of information

– Cheque books

– Vouchers

– Casino chips

– The Internet

– Mobile phones

Page 13: Challenging The Recession

Challenging the Recession

• Can we Change the Economy?

• Yes, we Can!

– Personal is Political = Ethical

• Local = LETS

• Corporate = Bartercard

• National = Treasury Select Committee

• http://tinyurl.com/666rwd