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Created: Feb 11, 2008

Updated: Nov 24, 2009

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Created: Oct 09, 2008
Updated: Oct 09, 2008
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Money and the Crisis of Civilization

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Type: Website
 
Website: http://www.realitysandwich.com...
 
Author: Charles Eisenstein
 
Publisher: Reality Sandwich
 
Date published: Wed, Oct 08, 2008
 
Keywords: money, finance, crisis, bailout, civilization, informal economy, caring economics, gift economy, interest, alternative currency, complementary currency
 

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A great article to teach on the connection between our ailing money system and Earth's ailing living systems. Here are some quotes from the article:

 

 

Money as we know it today has crisis and collapse built into its basic design. That is because money seeks interest, bears interest, and indeed is born of interest.


Essentially, for the economy to continue growing and for the (interest-based) money system to remain viable, more and more of nature and human relationship must be monetized.


The crisis we are facing today arises from the fact that there is almost no more social, cultural, natural, and spiritual capital left to convert into money. Centuries, millennia of near-continuous money creation has left us so destitute that we have nothing left to sell.


Therefore, contemporaneous with the financial crisis we have an ecological crisis and a health crisis. They are intimately interlinked. We cannot convert much more of the earth into money, or much more of our health into money, before the basis of life itself is threatened.


In the face of the impending crisis, people often ask what they can do to protect themselves. "Buy gold? Stockpile canned goods? Build a fortified compound in a remote area? What should I do?" I would like to suggest a different kind of question: "What is the most beautiful thing I can do?" You see, the gathering crisis presents a tremendous opportunity. Deflation, the destruction of money, is only a categorical evil if the creation of money is a categorical good. However, you can see from the examples I have given that the creation of money has in many ways impoverished us all. Conversely, the destruction of money has the potential to enrich us. It offers the opportunity to reclaim parts of the lost commonwealth from the realm of money and property.


The habitual first response to economic crisis is to make and keep more money -- to accelerate the conversion of anything you can into money.


The time is here, though, for the reverse process to begin in earnest -- to remove things from the realm of goods and services, and return them to the realm of gifts, reciprocity, self-sufficiency, and community sharing. Note well: this is going to happen anyway in the wake of a currency collapse, as people lose their jobs or become too poor to buy things. People will help each other and real communities will reemerge.


In the meantime, anything we do to protect some natural or social resource from conversion into money will both hasten the collapse and mitigate its severity. Any forest you save from development, any road you stop, any cooperative playgroup you establish; anyone you teach to heal themselves, or to build their own house, cook their own food, make their own clothes; any wealth you create or add to the public domain; anything you render off-limits to the world-devouring machine, will help shorten the Machine's lifespan. Think of it this way: if you already do not depend on money for some portion of life's necessities and pleasures, then the collapse of money will pose much less of a harsh transition for you. The same applies to the social level. Any network or community or social institution that is not a vehicle for the conversion of life into money will sustain and enrich life after money.


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yodelheck about 1 year ago
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This is part of dope collection of articles and conversations on Reality Sandwich about "deep" ideas on currency reform.
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