Resource website of social and solidarity economy
Themes:
- An alternative vision of the economy
- Redefining wealth
- Bringing economy and ecology together
- Social justice, peace and solidarity
- Ruling globalization
- Finance and money at the service of society
- Alternative forms of entrepreneurship, production and consumption
- Public policies and the solidarity economy
- Redefining the economy on a territorial basis
- SSE education, information and training
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Translation
Money as debt (1 to 5)
© Paul Grignon
Paul Grignon, 2006
Summary :
History of money as we know it, how it is created by banks, almost out of nothing. New money is created anytime anyone takes a loan from the bank. Banks loan money they do not have. More than 95% of existing money around the world is credit money.
This system of money supply needs a perpetual growth of the economy, requiring more and more from natural resources. So why create money from debt at all? Why not an alternative system of money that is sustainable for people and the planet?