Money
System
Money
System
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 Money System What an evil money system we have where “...economic interests trump human rights in most instances.” (BBC, 1m54s, posted and accessed 4 April 2019) So, this page looks at some alternatives to the current money systems of capitalism and communism. Until we can do away with money. Wellbeing Economy/GNH vs. GDP We
need a Wellbeing Economy, like Gross
National Happiness (GNH) rather than GDP:-
 The 9 Domains of GNH [click to enlarge]
The World We Deserve
'A
basic income (also known as a citizen's income) gives everyone, rich
and poor,
without means-testing or conditions, a guaranteed sum every week. It
replaces
some but not all benefits (there would, for instance, be extra payments
for
pensioners and people with disabilities). It banishes the fear and
insecurity
now stalking the poorer half of the population. Economic survival
becomes a
right, not a privilege.
A basic income removes the stigma of benefits while also breaking open what politicians call the welfare trap. Because taking work would not reduce your entitlement to social security, there would be no disincentive to find a job – all the money you earn is extra income. The poor are not forced by desperation into the arms of unscrupulous employers: people will work if conditions are good and pay fair, but will refuse to be treated like mules. It redresses the wild imbalance in bargaining power that the current system exacerbates. It could do more than any other measure to dislodge the emotional legacy of serfdom. It would be financed by progressive taxation...' (George Monbiot, The Guardian, posted 1 April 2013, accessed 9 November 2020) 'If in the future human labour is less needed, keeping societies stitched together may require us to reinvent the welfare state. Not all economists think that's worth worrying about just yet. But those who do are reviving an idea that dates back to Thomas More and his 1516 book, Utopia - a universal basic income. It does seem utopian, in the sense of fantastically unrealistic. Could we really imagine a world in which everyone gets a regular cash handout, enough to meet their basic needs, no questions asked? Some evidence suggests it's worth considering. In the 1970s, the idea was trialled in a Canadian town called Dauphin. For years, thousands of residents received cheques every month. And it turns out that guaranteeing people an income had interesting effects. Fewer teenagers dropped out of school. Fewer people were admitted to hospital with mental health problems. Hardly anyone gave up work. New trials are under way, to see if the same thing happens elsewhere. It would, of course, be enormously expensive. Suppose you gave every American adult, say $12,000 (£9,000) a year. That would cost 70% of the entire federal budget. It seems impossibly radical. But then, impossibly radical things do sometimes happen, and quickly. In the 1920s, not a single US state offered old-age pensions. By 1935, Frances Perkins had rolled them out across the nation.' (BBC, posted and accessed 13 November 2017) 'Some contemporary feminists argue that universal basic income would be a better way of compensating women for the unpaid work they routinely perform. It would give women the economic freedom to exit unfulfilling or abusive relationships more easily (although the basic income touted by supporters like Andrew Yang would need to be higher to achieve that) and rectify some of the inequalities inherent in a capitalist system that relies on the unpaid labor of women.' (Sirin Kale, The Guardian, posted 8 February 2021, accessed 10 February 2021)
 Resources
Wellbeing Economy/Happiness Economics/GNH
(Gross National Happiness) etc.
GNH and a wellbeing economy are economic systems centralising the wellbeing of people and nature, social justice and equity. They de-emphasise financial indicators like GDP.
Doughnut Economics
"The Doughnut of social and planetary boundaries is a playfully serious approach to the 21st century challenge of how to meet the needs of all within the means of the planet." (Kate Raworth adaption)
UBI (Universal Basic Income) etc.
"UBI is an income unconditionally granted to all members of a political community on an individual basis, without means test or work requirement. It is high enough to ensure an existence that preserves personal dignity and allows an individual active participation in society." (UBIE adaption)
Degrowth
"Degrowth is a planned reduction of energy and resource use designed to bring the economy back into balance with the living world in a way that reduces inequality and improves human well-being." (Jason Hickel)
Private Sufficiency and Public Luxury (PSPL)
"Life on Earth depends on moderation. We need to build a world in which growth is unnecessary, a world of private sufficiency and public luxury." (George Monbiot adaption)
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Also see:- No Money Capitalism Money articles |
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