Money will set your mental gears spinning with fantastic ideas. Change at the personal level then enables change at the inter-personal level, then at the societal, structural, and institutional level, and maybe even at the biological level. Even though private and informal transactions bypass the system and avoid paying fees into it, they also reduce the workload. In order for money to come into circulation, someone must go into debt to a bank. I helped him promote his first insightful book on money and debt, and I was impressed by Tom's quiet integrity and deep grasp of the monetary system.
Continuing Issues in Mutual Credit Systems. Most of the world uses it today, though few realize that Legal Tender has legal implications, is part of a legal contract which we agree on even though we haven't even read the large print, much less the small print. Anyone who works routinely with money needs this book--this means bankers, stockbrokers, merchants, community organizers, loan sharks, gamblers, investors, bank robbers, hedgefund operators, sports agents, and ordinary people. He helped establish the Tucson Traders currency in Arizona, and he has served as a consultant for many others. Re-empowering ourselves by establishing supplementary currencies is a first step to building the kind of world we want.
He examines currencies now in use abroad and on this continent, pointing out flaws and advantages in each system. I met Tom Greco several years ago when I was editor of an economics discussion group. I learned so much reading this book. Tom Greco, director of the Community Information Resource Center, understands and explains money on an eye-popping, fundamental level. The development of computerized telecommunications technologies and the Internet have put into the hands of ordinary people an information matrix and ability to communicate that was undreamed of just a few years ago. The Constitutional Congress, in adopting these cons as the basis for the monetary system of the newly formed United States of America, was simply recognizing what was already common practice. Greco's works clearly anticipated Bitcoin before its debut, and his ideas continue to provoke and challenge the status-quo monetary debate.
Improving Local Currencies, or How to Make a Good Thing Better p185. The principal amount is created at the time the loan is made, but the money to pay the interest due in subsequent periods has not yet been created. Foreword Reviews only recommends books that we love. She or he does not issue the notes but merely distributes them to the principals who will issue them spend them into circulation. No pie-in-the-sky idealist, Greco offers a realistic vision of how healthy local economies can be supplemented with flourishing community currencies. Poverty is a result of money for money functions under the rule of scarcity.
It also describes concrete and realistic actions that individuals, businesses, social service agencies, and governments can take to enhance productivity and purchasing power, to protect local economies from the ravages of globalization, and to strengthen the bonds of community. Money is a radical critique of our existing financial system, but also a practical and inspirational how-to manual for creating a vibrant and effective community currency system. There is no difference in this regard between borrowing cash directly from a person i. Create your own community exchange system to supplement official currency. Thus, when trillions of dollars disappeared from the economy and people asked 'what happened to all the money? Money is a radical critique of our existing financial system, but also a practical and inspirational how-to manual for creating a vibrant and effective community currency system.
I think it succeeds on most points, but falls somewhat short of the quality of scholarly literature at times. . This book explains the mysteries and realities of money in clear and accessible prose, and reveals the true workings, and alarming fragility, of our existing financial system. The current monetary system has several problems -- 1 distribution of wealth from poor to rich through payment of interest, 2 environmental degradation by necessitating continuous growth in order to repay interest, 3 increased risk of war since governments can print currency instead of increasing taxes, and 4 devaluation of currency through illegitimate creation of money. Some direct barter and informal trading will occur. Tom Greco, director of the Community Information Resource Center, understands and explains money on an eye-popping, fundamental level.
In colonial America, Spanish milled silver coins, called dollars, circulated widely as money. Anyone who works routinely with money needs this book--this means bankers, stockbrokers, merchants, community organizers, loan sharks, gamblers, investors, bank robbers, hedgefund operators, sports agents, and ordinary people. Three stars because it was somewhat disjointed in how it was organized. In order for money to come into circulation, someone must go into debt to a Introduction xxi. This book is more concerned with currently existing local currency programs, how to start them, how they work, and how they are inherently better than Federal Reserve Notes. Money will set your mental gears spinning with fantastic ideas. I think its final advocacy falls somewhat short of its purported goals.
The only reason I didn't give it a 5 star is because the writing style was old-fashioned a bit. Good list of resources and the end of the book. Why do we suffer under it? An agent does not spend the currency notes into circulation. Strategies for Enhancing Mutual Credit Systems and Gaining Acceptance. Money will set your mental gears spinning with fantastic ideas.
They helped put the country back on its feet. Events today indicate an economic system on verge of collapse. The author, a retired professor of business and economics who has spent twenty years studying community currency systems around the world, asserts that the system in the United States indeed, in most countries does not serve the communities that depend on it. Before our economic system can be changed it must be understood. I also think the author intends for some people to skip chapte This was interesting but definitely not the most well-written book I've read. Over half of it describes alternative currencies. All in all, this book is a worthwhile read -- but definitely not the only book you'll need to read on currency or flaws in our economic system e.
A few aspects, especially at the end, might still be too close to our present paradigm about economy, but this should change as more people around the world experience different systems of Alternatives to Legal Tender and thus see their very lives changed for the better. This book has lots of good information in it, but the author's enthusiasm for local currencies leads him to order the book in an ineffective way: rather than highlighting particular currency projects, he should highlight the issues with and potential solutions to our monetary system. It is being sold at a significantly reduced price but is a new, unread item. Since the Spanish coins varied in their silver content, the main work of the committee was to determine the average silver content of the coins in circulations and to specify what should be the silver content of the new American dollar coins. To fix the problem, the logical thing for the politicians to do was rescue the banks, so they could resume 'creating money' by making loans. If anyone suffers or has concerns about money, by reading this book it'll become clear that most people suffer and are concerned about something they didn't even know what it was. We all think we know intuitively what money is, and what it can do for us.