By Richard J. Douthwaite

ISBN-10: 1870098811

ISBN-13: 9781870098816

During this Schumacher Briefing, Richard Douthwaite argues that simply as varied bugs and animals have diversified results on human society and the wildlife, funds has assorted results in line with its origins and reasons. used to be it created to make earnings for a advertisement financial institution, or issued via a central authority as a sort of taxation? Or used to be it created by means of its clients themselves in simple terms to facilitate their alternate? And was once it made within the position the place it's used, or did area people need to supply items and providers to outsiders to get adequate of it to exchange between themselves? The Briefing indicates that it'll be most unlikely to construct a simply and sustainable global until and till cash construction is democratized.

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Additional info for The Ecology of Money (Schumacher Briefing, 4)

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Loan repayments would, of course, have to be made in store-of-value money that the borrower had to buy at the going rate. A futures market would probably appear as soon The Ecology of Money by Richard Douthwaite Chapter Four as the system was adopted so that borrowers would know exactly what the exchange currency cost of their repayments would be. People or companies wishing to move their capital out of the region or country would use their store-of-value money to buy foreign store-of-value currency provided by people moving their capital in the other direction, exactly as in the old Sterling Area system.

20 Since holding bracteates was rather risky as they could lose up to a quarter of their value overnight, people spent them as soon as they could. And once their day-to-day purchases had been made, they used the remainder on improving their houses and property. Even relatively ordinary people were able to afford fine houses during this period and the tradesmen's guilds were prosperous enough to make gifts of towers, windows and complete chapels to the Church. The construction work meant that there was a high demand for labour and wages were consequently good: an ordinary day-labourer could expect to earn six or eight groats a week, enough to buy four pairs of shoes or two sheep.

At this point in the first draft of this paper I wrote: "Countries setting up regional exchange currencies on the lines discussed in the preceding section will not provide a fertile climate for supplementary currencies with a predominantly economic purpose. The regular currency will work too well. On the other hand, supplementary currencies which are primarily social such as Time Dollars will have an important role to play in areas with mobile populations. " On reflection I'm not sure that this is true.

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The Ecology of Money (Schumacher Briefing, 4) by Richard J. Douthwaite


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