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Can we have a different economy?
Sacred EconomicsĀ traces the history of money from ancient gift economies to modern capitalism, revealing how the money system has contributed to alienation, competition, and scarcity, destroyed community, and necessitated endless growth. Today, these trends have reached their extreme - but in the wake of their collapse, we may find a great opportunity to transition to a more connected, ecological, and sustainable way of being.
86
816 reads
Will the work ever stop?
Charles Eisenstein begins this bold and well written book examining why innovation, labor saving devices, and all of the earth's bounty fail to deliver prosperity to most of the people. āAfter centuries of technological advances, why do we find ourselves working just as much as ever?ā he asks, before observing: āFor centuries, futurists have predicted an imminent age of leisure. Why has it never happened? The reason is that, at every opportunity, we have chosen to produce more rather than to work less. We have been helpless to choose otherwise.ā
91
545 reads
āWhen everything is subject to money, then the scarcity of money makes everything scarce, including the basis of human life and happiness. Such is the life of the slaveāone whose actions are compelled by threat to survival. Perhaps the deepest indication of our slavery is the monetization of time.ā
CHARLES EISENSTEIN
99
559 reads
Debt Economy
Money is created as interest bearing debt. When the interest rate is greater than zero, the debt always exceeds the available money. Servicing the resulting debt requires constant economic growth. Growing the economy requires transforming something that began as a gift from nature or the community into something that can be sold. Nature becomes transformed into commodities and monetized.
83
442 reads
Privatization of common assets
TheĀ commons, including land, forests, fresh air, clean water, ocean fisheries, minerals, biodiversity, the genome, and the electromagnetic spectrum, all existed prior to human activities. There is no legitimate right to any private ownership claim to these natural resources. Yet these common assets are continually privatized and monetized to support economic growth. Public goods are privately claimed and sold. Corporations profit at the publicās expense.
83
356 reads
āEach tree cut down and made into paper, each idea captured and made into intellectual property, each child who uses video games instead of creating worlds of the imagination, each human relationship turned into a paid service, depletes a bit of the natural, cultural, spiritual, and social commons and converts it into money.ā
CHARLES EISENSTEIN
88
400 reads
The solution
His solution is an economic system that integrates these seven features:
- Negative-Interest Currency
- Elimination of Economic Rents, and Compensation for Depletion of the Commons
- Internalization of Social and Environmental Costs
- Economic and Monetary Localization
- The Social Dividend
- Economic Degrowth
- Gift Culture and P2P economics
90
420 reads
āWhen you hear the phrase ārescue the financial system,ā translate it in your mind into ākeep the debts on the books.ā They are trying to find a way for you (and debtor nations too) to keep paying and for the debt to keep growing.ā
CHARLES EISENSTEIN
83
367 reads
āA fundamental premise of this book is that human beings naturally desire to give. We are born into gratitude: the knowledge we have received and the desire to give in turn. Far from nudging reluctant people to give unto others against their lazy impulses, todayās economy pressures us to deny our innate generosity and channel our gifts instead toward the perpetuation of a system that serves almost no one.ā
CHARLES EISENSTEIN
84
342 reads
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