A New Global Monetary System: What is needed for paradigm changes to happen?

Einstein is believed to have said:

“Insanity: doing the same thing over and over again and expecting different results.”

I read the Summer 2011 edition of Europe’s World. This publication prides itself to be The Only Europewide Ideas Community

The article I read is signed by Heiner Flassbeck who is a former German deputy finance minister and presently Director of UNCTAD’s Globalisation and Development Strategies Division.

It’s title:

Eurozone: Pointers to a New Global Monetary System

Follow http://ow.ly/5TVn8 to read

I decided to add a comment as follows:

A New Monetary suystem for Eurozone is not enough. We need several diversified systems. It might be less “elegant”, but will be more sustainable. It will be more equitable on top of it. What is needed to look outside of establihed paradigms?

See background ideas in form of an article published in the Journal of Future Studies hereafter;

Abstract
Fundamental laws govern all complex flow systems, including natural ecosystems,
economic and financial systems. Natural ecosystems are practical exemplars of
sustainability: enduring, vital, adaptive. The sustainability of any complex flow system
can be measured with a single metric as an emergent property of its structural diversity
and interconnectivity; it requires a balance in emphasis between efficiency and resilience.
The urgent message for economics from nature is that the monoculture of national
currencies, justified on the basis of market efficiency, generates structural instability in
our global financial system. Economic sustainability therefore requires diversification in
types of currencies, specifically through complementary currencies.

For the article follow
http://www.lietaer.com/images/Journal_Future_Studies_final.pdf

I wonder whether my comment will result in some dialogue starting between proponents of radically opposed views. I hope so, since I believe that the essence of democracy is that all voives are listened to and recognised in the decision making processes.

Amplify’d from www.europesworld.org
The lessons of the global financial economic crisis in general, and the eurozone’s difficulties in particular, are becoming clearer, writes Heiner Flassbeck. He outlines key elements for a new international system for financial and monetary co-operation

Eurozone pointers to a new global monetary system

A new Monetary suystem for Eurozone is not enough. We need several diversified systems. It might be less “elegant”, but will be more sustainable. It will be more equitable on top of it. What is needed to look outside of establihed paradigms?

See background ideas in form of an article published in the Journal of Future Studies hereafter;

Abstract
Fundamental laws govern all complex flow systems, including natural ecosystems,
economic and financial systems. Natural ecosystems are practical exemplars of
sustainability: enduring, vital, adaptive. The sustainability of any complex flow system
can be measured with a single metric as an emergent property of its structural diversity
and interconnectivity; it requires a balance in emphasis between efficiency and resilience.
The urgent message for economics from nature is that the monoculture of national
currencies, justified on the basis of market efficiency, generates structural instability in
our global financial system. Economic sustainability therefore requires diversification in
types of currencies, specifically through complementary currencies.

For the article follow http://www.lietaer.com/images/Journal_Future_Studies_final.pdf


By Charles van der Haegen on 8/3/2011 10:44

Read more at www.europesworld.org

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About charlesvanderhaegen

I am a grandfather of an immensely inspiring family, thanks to the most incredible wife. To satisfy my family's needs, I was for 30 years business entrepreneur, roller coasting between success and failure. 17 years ago I was forced to stop and reflect. I dug into theory and discovered the World out there, that my involvement in Business had kept hidden to me. I feared that I will not escape remaining amidst my trans-disciplinary quest forever, bouncing back and forth from action to theory, always puzzled by Europe's apparent incapacity to free itself from its Institutional/Technological Lock-ins. My horizon opened up when Gunter Pauly, my intimate friend of 35 years, asked me to join him and take charge ZERI's development in Europe. I am now fully engaged alongside Gunter Pauli in the http://www.zeri.org and the @myblueeconomy Networks as CEO of ZERI.EU vzw (Non for Profit association)
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One Response to A New Global Monetary System: What is needed for paradigm changes to happen?

  1. Mike Riddell says:

    That single metric that measures the “sustainability of any complex flow system” is ‘contribution’. It is our view that digital points will evolve as the new system of exchange and that these points will be traded between holders. What gives these points value is the impact the issue of them has not only on local communities, but on society and mankind too.

    Importantly, growth will no longer be the measure of success, since the world’s resources are finite and must be conserved. GDP will therefore be abandoned in favour of contribution which will be recorded (and rewarded) on new and improved social networks that work on the side of the user, not the corp.

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