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Re-Establishing Altruism As A Viable Social Norm

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The Main Problems of The Money System

"We are completely dependent on the commercial Banks. Someone has to borrow every dollar we have in circulation, cash or credit. If the Banks create ample synthetic money we are prosperous; if not, we starve. We are absolutely without a permanent money system. When one gets a complete grasp of the picture, the tragic absurdity of our hopeless position is almost incredible, but there it is. It is the most important subject intelligent persons can investigate and reflect upon. It is so important that our present civilization may collapse unless it becomes widely understood and the defects remedied very soon."     Robert H. Hemphill, 1936 (Credit Manager of Federal Reserve Bank, Atlanta, Ga.)
Guns don't kill people, people kill people. However, guns don't help. Likewise, the modern money system does not compel people to exploit one another and destroy the environment. However, the money system has some very serious flaws, such as:
1. Centralization Centralized money relies for its integrity on the honesty of a small cadre of unknown, unelected & largely unaccountable leaders - the central bankers.
2. Zero-Sum Nature Its artificial scarcity encourages people in the moneyed economy to compete with one another, because what is called 'making money' must entail taking it from others.
3. Rent-Seeking The money system was not designed to distinguish activity which creates value from that which captures value.
4. Anonymity Money has become divorced from who has done what for whom.

'Sound economics' has long favoured such short-sighted policies as unsustainable depletion or even the deliberate destruction of valuable resources. Key decisions are still taken with more reference to the mathematical construct called 'money' than to the real world. Statistics such as Gross Domestic Product (GDP) are so abstract that they reward those who set up vicious cycles of overconsumption or professionalisation while ignoring the resulting human and environmental damage such as the rising tide of depression or environmental damage!

"The love of money is the root of all evil."

We are developing Altruistic Economics, a system for evaluating human interactions that presupposes that people love one another. By addressing the above issues, it offers the possibility to reconnect people with the consequences of their actions, and to change their mentality from scarcity to abundance.

DownloadsTitleAuthor(s)        Date       Reference
 Shelling Out - The Origins of Money Nick Szabo 2002
 How Money is Created Smithy 2004-04-24 Wizards Of Money 1
 Banking on Poverty Smithy 2001-09-30 Wizards Of Money 3
  How Money is Created Smithy 2001-07-29 Wizards Of Money 1
  Banking on Poverty Smithy 2001-09-30 Wizards Of Money 3
 The Great Cookie Jar - Taking The Mysteries Out Of The Money System Edward E. Popp 1978
 Beyond Money John Taylor Gatto

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