Free Money

05/05/2009

O Dr. Shann Turnbull acredita em Free Money. Ele está falando sério: 

“Four non-exclusive options are considered for rebuilding the economy with a more efficient, equitable and resilient financial system. A common feature of three options is the introduction of cost bearing money as supported by Fisher (1933) and Keynes (1936) to help stabilise prices. Cost bearing or “Free-Money” increases the efficiency of allocating resources and can result in the generation of electricity from renewable sources becoming cheaper than burning coal. One option for issuing Free-Money is for governments to adopt a Bill like that presented to the US Congress in 1933. A second option is the private issue of “stamped scrip” that circulated in the US during the Great Depression. A third option is the issue of Free-Money redeemable into a commodity as used in Europe 1928-33. A fourth option is to reform the existing financial architecture to reduce the: (i) cost of seigniorage, (ii) interest on government debt; (iii) size of organisations considered to big to fail; (iv) tax incentives to use debt rather than equity (v) different types of risks accepted by financial institutions and (vi) ability of banks and “shadow” banks to create credit to finance derivatives many times greater than the GDP of the global economy.”, in: Options for Rebuilding the Economy and the Financial System.

“Markets are identified as one of four different communication and control mechanisms of social integration. The other three being hierarchies (command), symbolic (semiotic) and the natural senses. The contribution of each of the four mechanisms is considered to compare various types of societies from those existing over 10,000 years ago to current forms of capitalism and socialism. The paper argues that to create a self-correcting, ecological, sustainable society, the structure of property rights, governance and money would need to follow the dynamic feed-back control architecture found in living things and be guided by the characteristics of the host bio-region. This would create a Third Way and a more democratic form of capitalism.” in: New Strategies for Structuring Society from a Cash-flow Paradigm

assista às suas propostas de reforma do capitalismo:

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