Although instinctively it resonates, but why would such a standard of value be local?
Meters or kilograms also don't differ between Nairobi or Buenos Aires. 2016-02-02 7:22 GMT-05:00 Michel Bauwens <[email protected]>: > an argument from shann turnbull > > ""I cannot see how money can become democratic unless its value is > determined independently of the financial system just as standards of > weights and measures are determined independently of those that use them as > a common good." > > Local Standard of Value > <http://p2pfoundation.net/Local_Standard_of_Value#mw-head> > <http://p2pfoundation.net/Local_Standard_of_Value#p-search> > > > Discussion[edit > <http://p2pfoundation.net/index.php?title=Local_Standard_of_Value&action=edit§ion=1> > ] > > Shann Turnbull: > > "I cannot see how money can become democratic unless its value is > determined independently of the financial system just as standards of > weights and measures are determined independently of those that use them as > a common good. > > A local standard of value established in each bio-region would allow > anyone in that region to enter intro contract to exchange goods and > services with reference to the accepted standard. There would be no need > for either a centralised or distributed ledger even if one was kept. > > Establishing the standard of value on a democratic basis becomes a > governance problem not a financial one. Millions of producer and/or > suppliers of benign renewable energy being shared through a cooperative > creates a democratic governance arrangement that unlike LIBOR or foreign > exchanges could have its value cross checked by millions of its stake > holding suppliers/consumers. > > I would caution the call of requiring money to be created without debt > unless you also specify "Bank" debt. If we are going to use money as a > medium of exchange it will be creating private peer to peer debt! > > If you want democratic money then we cannot have money that creates money > by earning interest. The ability of money to earn interest also > misallocated resources to creating money rather than investing in real > things that can increase prosperity on a sustainable basis without growth > and even with de-growth." (email, February 2016) > > -- > Check out the Commons Transition Plan here at: > http://commonstransition.org > > P2P Foundation: http://p2pfoundation.net - http://blog.p2pfoundation.net > > <http://lists.ourproject.org/cgi-bin/mailman/listinfo/p2p-foundation>Updates: > http://twitter.com/mbauwens; http://www.facebook.com/mbauwens > > #82 on the (En)Rich list: http://enrichlist.org/the-complete-list/ > > > > _______________________________________________ > P2P Foundation - Mailing list > > Blog - http://www.blog.p2pfoundation.net > Wiki - http://www.p2pfoundation.net > > Show some love and help us maintain and update our knowledge commons by > making a donation. Thank you for your support. > https://blog.p2pfoundation.net/donation > > https://lists.ourproject.org/cgi-bin/mailman/listinfo/p2p-foundation > >
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