Wednesday, 10 June 2009

The end of money - what a refreshing thought

I got this in my inbox today from P2P Foundation - a recommendation for the book: Thomas Greco. The End of Money and the Future of Civilization. Chelsea Green, 2009.

Haven't you ever thought how society and the way we live together would be different if there wasn't any money? I did and thought it would be brilliant, ...more on that please.

The book is about “The End of Money and the Future of Civilization" where money is seen as a problem as it plays a crucial role in determining the world order and the course of human events in a particular way.

"My choice of title for this book is not at all based on wishful thinking. It expresses what is actually happening NOW. The recent emergence of commercial “barter” exchanges, mutual credit clearing associations, private voucher systems and community currencies represent the early stages of a process of power devolution that will inevitably lead to the end of POLITICAL moneyand the emergence of economic democracy. But the end of money does not refer ONLY to the end of political money. It refers also to the evolutionary process by which the essential nature of money has changed over the past two or three centuries—from commodity money, to symbolic (redeemable paper) money, to credit money. Of course, the reciprocal exchange process will continue, but in a different way from before, a way that does not require the use of conventional money or banks. The ultimate stage in the evolution of money and the exchange process is the offset of purchases against sales, i.e., direct credit clearing amongst buyers and sellers, and the widespread application of this process does indeed mean, in a very real sense, the end of money.

The word evolution may connote passivity, but in the realm of human-contrived systems, it involves the application of creativity, intelligence, and will. This particular evolution depends upon responsible ACTION on our part to assert our own credit power by organizing and promoting the rapid deployment of distributed (non-monopoly) credit clearing circles in ways that maintain local control within globally useful networks.”...

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