"The penalty good men pay for indifference to public affairs is to be ruled by evil men." attributed to Plato

"Bad men need nothing more to compass their ends, than that good men should look on and do nothing." attributed to Edmund Burke

Let's between us make the world a better place.

Thursday, 28 April 2011

How can we heal our flawed economy Part 1

 I have written over the last few weeks of the many flaws in our current Western economic model. But how can we build a better, more sustainable and fair system?

Economists, philosophers, theologians and more have contributed to the debate on the way forward for our economy in the context of addressing the world’s often seemingly insuperable problems. Our economic system is certainly not serving us well at the moment in its present form. Perhaps this is the opportunity to consider other options that address some of the present flaws. We do urgently need a system that promotes human justice and that stresses the importance of the long-term sustainability and protection of our planet. Where can we find this?

One such organization that works within these parameters is The Global Justice Movement. The essence of this movement’s message is an inclusive justice for all. It promotes policies that will provide a new, stable, just, global monetary system that will protect the environment by its sustainability, address poverty and the present rich–poor divide, and focus on real productive economy.

It starts with the idea of national bank-issued interest-free loans that have a real link to productive capacity and the spreading of that productive capacity, arising from within society. It is opposed to interest bearing loans which are created without any link to production, which have no regard as to whether the needs of society are met and which are controlled by those with no concern for society. Global justice, it believes, ends with global peace.

So what is proposed? Binary economics is a system developed in the 1990s by Rodney Shakespeare with Robert Ashford that fits well within the aims of the Global Justice Movement. It is based on the principle that both capital and labor should physically produce wealth and that all individuals should have access to such capital, provided for them if necessary using interest free money. This could produce a secure source of income for everyone, regardless of age, ability or occupation. This new and refreshing idea has been woven into a complete re-thinking of economics and politics, expressed in a most extraordinary vision in Seven Steps to Justice, one of the most readable and potentially and profoundly life changing books I have come across.

If only people would listen to wise words.

© Eleanor Stoneham 2011

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