The European Tribune is a forum for thoughtful dialogue of European and international issues. You are invited to post comments and your own articles.
Please REGISTER to post.
And, yeah, the US fiat money system is not the only money system. Worker's money will have issues, but they will not be the same issues.
As for worker's money, actually what Hutchinson, Mellor, and Olsen are doing in The Politics of Money, the book I reviewed, is playing with the "social credit" ideas of Clifford Hugh Douglas, so yeah there is a line of authorship for these ideas.
The main idea of worker's money as I see it will be to invest the power of seigniorage locally, in the hands of democratic communities of workers. That way you don't have toploaded economies, which are one of the main economic problems of our time (especially here in the US). And the folks possessed of seigniorage are the ones doing the work. Since under any money system someone has to have seigniorage, you have to be careful in choosing that person or group.
Douglas, as I understand him, suggested two types of credit: the "consumer's credit," which would grant everyone a fair standard of living, and the "producer's credit," which would compensate business producers for start-up costs and otherwise make up for the general prohibition on business avarice in what would be a democratically-regulated economy.
A democratically-regulated economy would be the best way of tackling global warming, i argue, because in such an economy everyone would be responsible, individually and collectively, for the problem, rather than throwing up their hands and saying "what can one person do?" "Imagine all the people/ Sharing all the world" -- John Lennon
by Frank Schnittger - Sep 17
by Frank Schnittger - Sep 10 3 comments
by Frank Schnittger - Sep 1 6 comments
by Frank Schnittger - Sep 3 32 comments
by Oui - Sep 6 3 comments
by Oui - Sep 19
by Oui - Sep 18
by Oui - Sep 1725 comments
by Oui - Sep 154 comments
by Oui - Sep 151 comment
by Oui - Sep 1315 comments
by Oui - Sep 13
by Oui - Sep 124 comments
by Oui - Sep 1010 comments
by Frank Schnittger - Sep 103 comments
by Oui - Sep 10
by Oui - Sep 92 comments
by Oui - Sep 84 comments
by Oui - Sep 715 comments
by Oui - Sep 72 comments
by Oui - Sep 63 comments