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Jukka Peltokoski

From the theory of peer production to the production of peer production theor... - 0 views

  • The object of this article is to give an interpretation of the ideological positioning of various movements and intellectual groupings and individuals within the ‘left field’ of peer to peer theory production.
  • What we understand under the concept of “the Production of Peer Production Theory” are the various attempts to make sense of peer production, both in terms of its place in the current dominant economic system of capitalism, and in terms of its future potential.
  • 1. Yochai Benkler: peer production as an adjunct to the market
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  • we aim for a fair synthesis
  • Our main counter-argument is this: under capitalist conditions, peer production is not capable of self-reproduction and therefore not a full mode of production or value creation. We make an important distinction between the self-reproduction capability of a peer production project as a whole, and the social reproduction at the individual level. The reason is that there is no real universal possiblity for the reproduction of the human life of peer producers under capitalist conditions.
  • We would characterize Yochai Benkler’s vision as a reformist or meliorist approach, seeking to improve and balance some of the negative aspects of capitalism through increased peer production dynamics.
  • 2. Oekonux: free software as a germ form that is prefigurative of a peer production society
  • free software production is a full mode of production that is born within capitalism but destined to supersede it, based on a understanding of germ form theory.
  • The description of Meretz considers free software as a full mode of production, prefigurative of a wider transformation of the current capitalist mode of production.
  • We would characterize the main argument as stating that the deep lowering of transaction/coordination/communication costs, creates the possibility for a new mode of production next to the market and the firm, which produces value through ‘social allocation’.However, for Benkler, the new modality exists ‘in addition’ and in complementary with market dynamics.
  • On the collective level, we can see that peer production occurs when a pool of voluntary contributors can create commons-oriented value, under conditions of participatory governance, i.e. through the social, and not market or hierarchical, allocation of productive resources. This can occur on a collective level, but only if we abstract from the need for the social reproduction of the individuals who contribute.
  • there is no autonomous social reproduction within the commons itself
  • 3. Dmytri Kleiner’s Venture Communism
  • For Kleiner, peer production can only occur if commoners also own the common stock of production.
  • Kleiner proposes that peer producers would create common stock cooperatives, and use a specific licence, the Peer Production or Copyfarleft license, to protect their shared innovation commons from private appropriation by capitalist forces.
  • Like with the P2P Foundation’s approach, Kleiner also recognizes the continuation of the politics of class, as long as we live in a class-based society.
  • Our contrasting peer production IS a proto-mode of production, which means that indeed value is created in a radically different way in peer production, but that it’s lack of self-reproduction capabilities makes it dependent on capitalism.
  • Kleiner’s strategy is exactly what can make it independent and capable of self-reproduction since its combination with common-stock physical production entities, would guarantee the self-reproduction capability of individuals and collectives contributing to the commons.
  • creating a real counter-economy
  • 4. George Caffentzis and the Anti-capitalist commons
  • two kinds of commons, i.e. anti-capitalist commons which exist to produce value in a different way, and which function against capitalism, and commons which are used by capital for its own self-reproduction and act in favour of capitalism
  • Politically, pro-capitalist commons are represented by the neo-Hardinian school of Elinor Ostrom
  • while the basic premise of the existence of capitalism-compatible commons is correct, the making of a radical dichotomy, based on the necessity to struggle against capitalist commons, is absolutely counter-productive.
  • Our approach stresses that it is more productive to focus on the post-capitalist potentialities of peer production, and make them real and concrete, than to fight against commons that are compatible with capitalism.
  • it makes only sense to undertake efforts to make the commons more autonomous from profit-maximizing entities and the system as a whole. This can be done through strategies such as those proposed by Kleiner and the P2P Foundation.
  • In the interpretation of the P2P Foundation, social change occurs because proto-modes of production, which are initially embedded in a dominant economic system, and benefit that system, become gradually more efficient, and capable of self-reproduction, and therefore create the conditions for a phase transition to occur, in which the new emergent mode of production, achieves its independence over the formerly dominant model.
  • For the P2P Foundation, an integration needs to occur between the new prototype model, i.e. the field of peer production proper, as it emerges in multiple social fields and attempts to become more autonomous; the social mobilization of progressive social forces (i.e. politics and even ‘revolution’ are crucial remaining aspects of social evolution), and political/policy oriented movements that are capable of creating new institutions.
  • Politically, § we differ from the Benklerite approach because we believe peer production has the potential to succeed capitalism as the core value and organisational model of a post-capitalist society § we differ from Oekonux by stressing the lack of autonomy of peer production under current conditions § we differ from the Telekommunisten approach by stressing it a proto-mode of production § we differ from the Caffentzis approach by stressing a post-capitalist approach centered on the autonomy and self-reproduction needs of peer producers, rather than guided by a core hostility to capitalism
  • P2P Foundation also has an integrative and integral approach, this means that despite differences, we seek commonality around aspects of our friends and allies that we may differ from in other aspects.
  • § we agree with Benkler and similar approaches that peer production improves on the current conditions of capitalism, i.e. we generally support the spread of commons and p2p-oriented practices § we agree with Oekonux that peer production carries within itself the seeds of a post-capitalist value system § we agree with Kleiner’s proposal for a peer-based counter-economy § we agree with Caffentzis that we need a preferential treatment towards autonomous commons approaches that create a counter-logic within the present system
Jukka Peltokoski

Transnational Republics of Commoning | David Bollier - 0 views

  • The nation-state as now constituted, in its close alliance with capital and markets, is largely incapable of transcending its core commitments to economic growth, consumerism, and the rights of capital and corporations -- arguably the core structural drivers of climate change.
  • Because the piece -- "Transnational Republics of Commoning:  Reinventing Governance Through Emergent Networking" -- is nearly 14,000 words long, I am separating it into three parts.  You can download the full essay as a pdf file here.
  • In moments of crisis, when the structures of conventional governance are suddenly exposed as weak or ineffectual, it is clear that there is no substitute for ordinary people acting together. 
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  • collectively our choices and agency are the ultimate guarantors of any values we may wish to secure
  • They can create their own cultural spaces to deliberate, collaborate and share resources without market and state structures that are often cumbersome, expensive, anti-social or predatory. 
  • A key political challenge of our time is to figure out new ways to preserve and extend the democratic capacities of ordinary people and rein in unaccountable market/state power, otherwise known as neoliberalism. 
  • Neoliberal economics and policy insist upon debt-driven economic growth, extractivist uses of the Earth, consumerism and nationalism
  • the creative use of new digital technologies on open network platforms could inaugurate liberating new forms of “open source governance.”
  • The superstructures of law and governance can achieve only so much without the consent of the governed.
  • Benkler
  • Rifkin
  • Tapscott
  • Mason
  • Bauwens
  • potentially transformative Commons Sector
  • the innovations now unfolding in various tech spaces suggest the outlines of new post-capitalist institutions
  • new types of group deliberation and governance software platforms such as Loomio and Co-budget; digital platforms that enable better management of ecological resources; and “blockchain ledger” technology, which is enabling new forms of network-native self-organization, collective action and “smart contracts”
  • online guilds
  • commons
  • open design and manufacturing communities
  • citizen-science
  • a process of commoning
  • to create functioning commons
  • The collaborative communities now emerging on digital platforms do not worry so much about resource-depletion or free riders – problems that affect the management of water, fisheries and land – as how to intelligently curate information from the multitudes and design effective self-governance structures for virtual collaboration.   
  • The point of the commons paradigm, despite its many different flavors, is this:  It provides “protected” space in which to re-imagine production and governance. 
  • “digital divide”
  • more accessible and transparent than conventional state democracy and more solidly grounded through bottom-up participation and ethical accountability
  • Digital networks are becoming deeply entangled with all aspects of life
  • our lives with digital technologies are profoundly affecting how we regard property, political life, and economic life
  • Facebook, Google, Uber, Airbnb and other corporate “gig economy” players
  • Unlike these capital-driven enterprises, the collaborations that I am describing are fundamentally non-market and socially mindful in character. They are less defined by technology per se than by the new social forms and political /cultural attitudes that they engender. 
  • to move people beyond the producer/consumer dyad and formalistic notions of citizenship, and enable people to enact a more personal, DIY vision of self-provisioning and governance. 
  • The state, having cast its lot with capital accumulation and growth, is losing its credibility and competence in addressing larger needs. 
  • With the rise of market-centrism and rational choice economics, government was devalued and allowed a role only in cases of ‘market failure.’ 
  • standard economics today largely ignores the fundamental, affirmative role that government plays in facilitating functional, trustworthy markets.
  • popular distrust of government has soared.  And why not?  Government has lost its actual capacities to serve many non-market social and ecological needs. 
  • Given this void and the barriers to democratic action, many citizens who might otherwise engage with legitimate state policymaking have shifted their energies into “transnational, polycentric networks of governance in which power is dispersed,”
  • the solidarity economy, Transition Towns, peer production, the commons
  • Thus the impasse we face today:  The neoliberal market/state agenda is inflicting grievous harm on the planet, social well-being and democracy – yet the market/state remains largely unresponsive to popular demands for change.
  • The (Still-Emerging) Promise of Open Source Governance
  • commons based on open tech platforms will play a central role in transforming our politics and polity
  • Electronic networks are now a defining infrastructure shaping the conduct of political life, governance, commerce and culture.
  • many legacy institutions and social practices continue to exist.  But they have no choice but to evolve
  • online commons are lightweight social systems that, with the right software and norms, can run quite efficiently on trust, reciprocity and modest governance structures
  • that enable users to mutualize the benefits of their own online sharing
  • Rifkin notes that the extreme productivity of digital technologies is lowering the marginal costs of production for many goods and services to near zero.  This is undercutting the premises of conventional markets, which are based on private owners using proprietary means to extract profits from nature, communities and consumers.
  • We are glimpsing at the outlines of a new economic system based on sharing and the collaborative commons. It is the first new paradigm-shifting system since the introduction of capitalism and communism. 
  • The “collaborative commons” that Rifkin describes is a hybrid capitalist/commons economy that is able to exploit the efficiencies and higher quality produced on open networks. 
  • “prosumers”
  • are able to create their own goods and services
  • But when some good or service is offered for at no cost, it really means that the user is the product:  our personal data, attention, social attitudes lifestyle behavior, and even our digital identities, are the commodity that platform owners are seeking to “own.”  
  • To combat corporate exploitation of open platforms, many efforts are now afoot to establish digital commons as viable alternatives.  The new models are sometimes called “platform co-operativism.
  • Digital commons are materializing in part because it is easier and more socially satisfying to participate in a commons
  • the most valuable networks are those that facilitate group affiliations to pursue shared goals – or what I would call commons
  • Open source tools and principles could unleash this value – but it would subvert the business model.
  • “hacktivists,” makers, software programmers and social media innovators who are consciously attempting to build tech platforms that can meet needs in post-capitalist ways, often via commons
Jukka Peltokoski

The Tragedy of the Anticommons | The Wealth of the Commons - 0 views

  • Let’s start with something familiar: a commons.
  • commons
  • commons
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  • wasteful overuse is a tragedy of the unmanaged commons
  • creating private property
  • If cooperation fails, nobody can use the resource.
  • Each one can block the others’ use
  • a hidden tragedy of the anti­commons.
  • a brief overview of the anticommons lexicon
  • three basic types: private, commons, and state property
  • private property
  • private property is about an individual decision maker who directs resource use.
  • Commons property refers to shared resources, resources for which there is no single decision maker.
  • open access
  • open access
  • group access
  • State propert
  • process that is, in principle, responsive to the needs of the public
  • Privatizing a commons may cure the tragedy of wasteful overuse, but it may inadvertently spark the opposite.
  • too many people can block each other from creating or using a valuable resource. Rightly understood, the opposite of overuse in a commons is underuse in an anticommons.
  • clear rights and ordinary markets are not enough
  • Wasteful underuse can arise when ownership rights and regulatory controls are too fragmented.
  • The anticommons parallel to open access is full exclusion in which an unlimited number of people may block each other.
  • With full exclusion, states must expropriate fragmented rights or create hybrid property regimes so people can bundle their ownership
  • differs from open access: an anticommons is often invisible
  • group exclusion in which a limited number of owners can block each other. For both group access and group exclusion, the full array of market-based, cooperative, and regulatory solutions is available.
  • For group exclusion resources, the regulatory focus should be support for markets to assemble ownership and removal of roadblocks to cooperation.
  • Much of the modern economy – corporations, partnerships, trusts, condominiums, even marriages – can be understood as legally structured group property forms for resolving access and exclusion dilemmas
  • drug patents
  • “if commons leads to ‘tragedy,’ anticommons may well lead to ‘disaster’”
  • underuse caused by multiple owners is unfamiliar
  • we need to name the phenomenon: the tragedy of the anticommons should join our lexicon.
  • Heller, M. 1998. “The Tragedy of the Anticommons: Property in the Transition from Marx to Markets.” Harvard Law Review. 111:621.
Jukka Peltokoski

Postcapitalism and the city - 0 views

  • bullshit jobs
  • Capitalism’s response mechanisms
  • a) to maximise capacity utilisation of low-skilled labour and of assets.
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  • b) to artificially inflate the price and profitability of labour inputs
  • Things that in all previous eras of capitalism the elite desired to be as cheap as possible—to ease wage pressures—are now made as expensive as possible
  • capital migrates away from production and from private-sector services towards public sector services.
  • capitalism being replaced by a stagnant neo-feudalism
  • central bank, pumping money into the system
  • the state, propping up effectively insolvent banks
  • the migrant labour exploiter
  • the innovator someone who invents a way of extracting rent from low-wage people
  • But as soon as technology allowed it, we started to create organisations where the positive effects of networked collaboration were not captured by the market.
  • Wikipedia
  • Fortunately there is a third impact of info-tech. It has begun to create organisational and business models where collaboration is more important than price or value.
  • Linux
  • the platform co-operatives
  • The technology itself is in revolt against the monopolised ownership of intellectual property, and the private capture of externalities.
  • We must promote the transition to a non-capitalist form of economy which unleashes all the suppressed potential of information technology, for productivity, well.being and culture.
  • The strategic aim is: to reduce the amount of work done to the minimum; to move as much as possible of human activity out of the market and state sectors into the collaborative sector; to produce more stuff for free.
  • If the aim is for humanity to do as little work as possible, you can do it through three mechanisms. One is to automate. The other is to reduce the input costs to labour, so that we can survive on less wages and less work. The third is to push forward rapidly the de-linking of work and wages.
  • The city is where the networked individual wants to live
  • First—be overt. Help people to conceptualise the transition by actually talking about it.
  • Next—switch off the great neoliberal privatisation machine.
  • We know what it’s there for—to hand public assets to the private sector so that the profits of decaying businesses are temporarily boosted
  • The next proposal is more radical: model reality as a complex system.
  • Next—promote the basic income.
  • The basic income is an idea whose time is coming, because there won’t be enough work to go around. For me the basic income is a one-off subsidy for automation—to un-hook humanity from bullshit job creation and promote the delinking of work and wages.
  • However, it’s a transitional measure.
  • Next—actively promote the collaborative sector over the market and the state.
  • You have to understand the benefits of these entities are not completely measurable in GDP terms.
  • The building block is the co-op, the credit union, the NGO, the non-profit company, the peer-to-peer lender and the purely voluntary or social enterprise.
  • You have to promote new ways of measuring activity and progress.
  • Finally, understand and fight the battle over the externalities.
  • the state and eventually the commons should have first rights to all the data just the same as in a republic it owns all the land
  • Ultimately, however, the greatest good comes from the common ownership and exploitation of data, because it establishes the principle that this vast new information resource—which is our collaborative behaviour captured as data—is part of the commons.
  • Would capitalism collapse?
  • But you would attract the most innovative capitalists on earth, and you would make the city vastly more livable for the million-plus people who call it home.
  • No. The desperate, frantic “survival capitalists” would go away—the rip-off consultancies; the low-wage businesses; the rent-extractors.
  • All the other challenges would remain: the environmental challenge—not just low carbon but the preservation of quality living environments in a city sometimes deluged with visitors. Also the ageing challenge and the debt challenge.
  • a common platform for the left, for social democracy and for liberal capitalism
  • I could be completely wrong. But if I am right, it makes sense for all cities to ask themselves: could we become the first city to begin a demonstrable and tangible transition away from neoliberal capitalism, towards a society of high equality, high well-being, high collaboration?
  • the collaborative city, the city of participatory democracy, the networked city
Jukka Peltokoski

The Revolution will (not) be decentralised: Blockchains - Commons TransitionCommons Tra... - 0 views

  • Decentralised topologies and non-discriminatory protocols have been all but replaced by a recentralisation of infrastructure, as powerful corporations now gatekeep our networks. Everything might be accessible, but this access is mediated by a centralised entity. Whoever controls the data centre exercises political and economic control over communications. It’s difficult to see how we can counteract these recentralising tendencies in order to build a common core infrastructure.
  • These centralising tendencies have also reared their head in cryptocurrencies.
  • powerful mining pools now control much of the infrastructure and rent-seeking individuals control a lion’s share of Bitcoin’s value.
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  • the underlying architecture has potentials not only for the future of money, but also for the future of networked cooperation.
  • Blockchain-based technologies may still have a role to play.
  • Just as Bitcoin makes certain financial intermediaries unnecessary, new innovations on the blockchain remove the need for gatekeepers from other processes
  • The broader implication is that the blockchain could support the activities and resources necessary to the commons
  • A lot of what follows is pretty speculative, but worth discussing in the context of peer-production.
  • The blockchain is the distributed ledger that keeps track of all transactions made using the Bitcoin cryptocurrency. Arguably this is Bitcoin’s key innovation
  • the blockchain could support new forms of peer-production, and fully decentralised infrastructures for applications as varied as finance, mesh networks, cloud databases and share economies.
  • claim is that blockchain-based technologies such as Ethereum can support and scale distributed forms of cooperation on a global scale.
  • There are a number of start-ups and groups currently innovating in this space such as Ethereum, Ripple and Mastercoin.
  • extends the decentralised capabilities of Bitcoin beyond financial transactions
  • Bitcoin involves two parameters: a trustless database (more on this later) and a transactions system capable of sending value from place to place
  • Ethereum builds a generalised framework that extends the capabilities of the blockchain to allow developers to write new consensus applications.
  • Distributed Organisations & the Trust Web:
  • Decentralised Autonomous Organisations.
  • it doesn’t matter whether I believe in my fellow peers just so long as I believe in the technical efficiency of the blockchain protocol.
  • Where questions about how to reach consensus, negotiate trust and especially scale interactions beyond the local are pervasive in the commons, the blockchain looks set to be a game changer.
  • ‘consensus’ algorithms
  • Cohen and Mougayar have dubbed this innovation the “trust web”
  • Ethereum incentivises participation, encouraging actors to contribute without introducing centralisation
  • Node Incentivisation:
  • In order to use an Ethereum application, users make micropayments to the developers in ether, Ethereum’s coin, or ‘cryptofuel’ as they term it.
  • Monetary transactions aside, this encourages people to contribute to the commons and puts systems in place to try and protect its resources from commercial expropriation.
  • a change to infrastructure
  • Decentralised Infrastructures:
  • Instead, we can imagine infrastructure as something immaterial and dispersed, or managed through flexible and transient forms of ownership.
  • The payoff seems to be that new blockchain-based technologies have the potential to support new forms of commons-based peer production, supplying necessary tools for cooperation and decision making, supporting complementary currencies and even provisioning infrastructures.
  • Other issues concern the design of trustless architectures and smart property.
  • Trustless Architectures: First of all, what kind of subjectivity does the blockchain support?
  • ‘trust in the code.’
  • proof-of-work is not a new form of trust, but the abdication of trust altogether as social confidence in favour of an algorithmic regulation
  • the blockchain could support not only cryptocurrencies but also other financial instruments like equity, securities and derivatives; smart contracts and smart property; new voting systems; identity and reputation systems; distributed databases; and even the management of assets and resources like energy and water.
  • proceeds from a perspective that already presumes a neoliberal subject and an economic mode of governance in the face of social and/or political problems. ‘How do we manage and incentivise individual competitive economic agents?’ In doing so, it not only codes for that subject, we might argue that it also reproduces that subject
  • Smart Property:
  • new controls implied by smart property also have worrying implications
  • Property doesn’t disappear, but instead it is enforced and exercised in different ways. If rights were previously exercised through norms, laws, markets and architectures, today they are algorithmically inscribed in the object.
  • There is real potential in the blockchain if we appreciate it not as some ultimate techno-fix but as a platform that, when combined with social and political institutions, has real possibilities for the future of organisation.
Jukka Peltokoski

Barcelona embraces the Doughnut | DEAL - 0 views

  • The City of Barcelona in Spain has announced that it is embracing the tools and concepts of Doughnut Economics to guide actions to address the climate emergency and the city's ecological transition.
  •  
    "The City of Barcelona in Spain has announced that it is embracing the tools and concepts of Doughnut Economics to guide actions to address the climate emergency and the city's ecological transition."
Jukka Peltokoski

Co-operative Commonwealth: De-commodifying Land and Money Part 1 | Commons Transition - 0 views

  •  
    Osuuskuntatutkija Pat Conaty avaa kolmiosaisen juttusarjansa osuuskunnallisesta maanomistuksesta ja rahasta. Ensimmäinen osa käsittelee historiallisia ja nykyisiä esimerkkejä. Osuusmaasta on lukuisia nykyesimerkkejä briteistä ja usasta ja se on osoittanut kykynsä irrottaa asumiskustannukset markkinoiden hintakehityksestä. Conaty on aiemmin kirjoittanut kestävistä yhteisöistä ja kasvupakosta irrotetusta taloudesta.
  •  
    Osuuskuntatutkija Pat Conaty avaa kolmiosaisen juttusarjansa osuuskunnallisesta maanomistuksesta ja rahasta. Ensimmäinen osa käsittelee historiallisia ja nykyisiä esimerkkejä. Osuusmaasta on lukuisia nykyesimerkkejä briteistä ja usasta ja se on osoittanut kykynsä irrottaa asumiskustannukset markkinoiden hintakehityksestä. Conaty on aiemmin kirjoittanut kestävistä yhteisöistä ja kasvupakosta irrotetusta taloudesta.
Jukka Peltokoski

Co-operative Commonwealth: De-commodifying Land and Money Part 2 | Commons Transition - 0 views

  • Usury is little discussed today but it is crucial in policy terms.
  • in Germany, Christian Christiansen championed the founding of a number of rural savings and loan co-operatives that went by the acronym JAK, short for Jord Arbete Kapital (“Land Labour Capital”)
  • There were other models that flourished. Dr. Thomas Bowkett introduced a mutual organization in the 1840s to provide housing and smaller loans interest-free.(7) Twenty years later, Richard Starr made some adjustments to the system, and the “Starr-Bowkett” societies spread fast.
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  • in Brazil today. CoopHab is a major housing federation of co-operative savings societies.
  • During the industrial revolution English working people were excluded from bank lending though pawnbroking was rife. Mutual aid savings clubs developed interest-free lending systems for housing. The most successful were the Terminating Building Societies for buying land and building houses.
  • Sweden
  • Operationally, JAK is very similar to a credit union, except that members do not earn any interest on their savings or dividends on their shares.
  • The total cost of a JAK loan covers four things:(12)loan appraisal and set-up cost at a fee that is 2-3% of the approved loan value.an annual administration fee equal to 1% of the loan.an annual fee of approximately $30 to support the JAK educational system and volunteer services.(13)an equity deposit equal to a 6% of loan value to cover risk on any loan in the portfolio.
  • Members are strongly encouraged to pre-save in order to qualify for a loan.(15) Members also contract to continue saving while they are repaying their loans.
  • The Greenbacks would not be backed by gold, but by the farmers’ crops, which would be stored in sub-Treasury warehouses paid for by the government.
  • Swiss WiR
  • President Lincoln
  • free Greenback dollars
  • Lincoln
  • he had led the introduction of a paper money not backed by gold or silver, and had shown that the government could create, issue, and circulate by fiat the currency and credit needed to satisfy the spending power of the government and the buying power of consumers.
  • the privilege of creating and issuing money is not only the supreme prerogative of government, but it is the government’s greatest creative opportunity.
  • National Farmers Alliance and Co-operative Union, led by Charles Macune, developed the Sub-Treasury Plan.
  • JAK banking, CoopHab and Community Land Trusts work well but are below national policy radar. This is not entirely the case for co-operative commonwealth systems.
  • So this was not simply a co-operative currency. It was a new national currency under a co-operative and state partnership to expunge the debt peonage imposed by merchants and bankers.
  • Infuriated, farmers and workers created their own party in 1891 to carry forwardmonetary reform and a co-operative economy. The new Populist party won some local, state and Congressional elections before falling into decline after 1895.
  • A.C. Townley launched the Non-partisan League (NPL)
  • Bank of North Dakota
  • Henry Ford and Thomas Edison suggested a novel solution.
  • proposed that new money be created by issuing interest-free government bonds
  • Frederick Soddy
  • made the first case for an ecological economics free of debt
  • “100% money.”
  • 100% reserve requirement.
  • Clifford H Douglas
  • He argued that a clear-cut and labour-saving solution would be for Government to create new money, interest-free as “Social Credit.”
  • First all citizens would receive a National Dividend.
  • Second, Douglas proposed that publicly-owned producer banks be set up in each region of the UK to provide finance debt-free to industry and enterprises.
  • From 1929 monetary reform attracted a wide audience In the UK, Australia, New Zealand, the USA and Canada with growing grassroots calls ranging from public banking to universal basic income.(34) The New Deal of Franklin Roosevelt took inspiration from John Maynard Keynes.
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