Tuesday, November 29, 2011

Money, Beginning Thoughts

The current state of economic inequality is rooted in the concept and practice of money. What is money? What are the current rules surrounding money and what have those rules been in the past? What do we want the practice of money to do, and how do we most efficiently achieve those ends? An economy is a group of people who operate under the same rules and who regularly trade goods and services among themselves. Money is a promise to return a good or service received. Because it is a promise, it has no self-limiting need to fit the actual world. People can promise and promise until there is no way for them to fulfill their obligations. Can we base money on anything else? Could rolling back and eventually ending the practices of interest and money-lending move us toward a sustainable economy rather than our current unsustainable growth economy?