socioeco.org
Resource website of social and solidarity economy

Interest and Inflation Free Money. Creating an excange medium tat works for everybody and protects the earth

Seva International; 1995 by Margrit Kennedy

Margrit Kennedy, 1995

To download : PDF (1.4 MiB)

Summary :

Money is the measure in which most economic concepts are expressed. Economists use it as merchants use kilograms and architects use metres. They seldom question the way it works and why in contrast to the meters and kilograms it is not a constant measure but varies, now, almost daily.

This book takes a look at how money works. It exposes the reason for the constant change in one of our most important measures. It explains why money not only « makes the world go round » but also wrecks the world in the process. The huge debt accumulated by Third World countries, unemployment, environmental degradation, the arms build-up and proliferation of nuclear power plants, are related to a mechanism which keeps money in circulation: interest and compound interest. This, according to economic historian John L. King, is the « invisible wrecking machine » in all so-called free-market economies.

Transforming this mechanism into a more adequate way of keeping money in circulation is not as difficult as it may seem. While the solutions put forward in this book have been known to some people since the beginning of this century, the way and the time in which it is presented offer a special opportunity for its implementation.

Sources :

Prof. Dr. Margrit Kennedy’s website Komplementäre Währungen www.margritkennedy.de/index.php?id=96&ord=55