The Big Shift. Rethinking Money, Tax, Welfare and Governance for the Next Economic System

Sito de la casa editrice

Deirdre Kent, Living economies, New Zealand, 2017

This important little book is a dense read full of big ideas. Our growth-dependent economic system is past its use-by date and must be completely replaced.

Basing her work on the policy discussions of the New Economics Party of 2011-2015, the author argues that neither monetary reform nor tax reform are possible at central government level. The banks are just too powerful these days. A change from an intrusive welfare system to a basic income must be financed by sharing the rents from land, natural resources and natural monopolies.

To design an economic system to serve the planet in a post fossil fuel age requires bold thinking on money design, land tenure and governance. With convincing examples from history and many references, the author describes the conditions for a stable and prosperous society, says we need to replicate them, then proposes a system.

Given the political challenges, she concludes that local government should assume powers of money creation, land purchase and rule-making about taxes for trades in that new currency.