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Why do we still live in a monetary based economy? How can we make our current system more efficient, less wasteful and overall sustainable?

Is there a better system that we could follow that is based around improving quality of life for all humans and to increase resource efficiency? I am not proposing that we don’t use a type of currency for trade, what I am saying is that our current system is not working efficiently and not improving human life. Money is the focal point and it traps people in it through debt. Our dependence on money has many adverse affects. It is limiting our potential and stopping sustainable progression.

Wouldn’t it make more sense to live in a society were we do things to their full potential. Maximise efficiency and minimise waste. A system that is transparent with no class distinction. That provides the basic needs of life for free; Food, shelter, education and cloths. No strings attached, nothing locking you in. We live once so while fill it with things that add nothing to your life our others?

Im not saying we should do this or that, I am saying that there are flaws in our current system, how can we change it to make it better? How can we make our current system more efficient, less wasteful and overall sustainable??

Topics: community society
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    May 5 2013: Because it still works and the only one know to work for very long
    • May 5 2013: Does it work in the world we live in today?? We possess the means and know how to fix allot of the worlds issues but we dont because there is no profit in it. we have the resources and man power but a little piece of paper stops us.. that paper limits humanities potential and quality of life. that doesn't make sense to me? dont you think its time to update? technology and our understanding of the world we live in today has come a long way from when our current system was conceived. this system at the moment, seems to only benefit a few
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        May 5 2013: What do you suggest?
        • May 6 2013: There are some concepts out there already, sean Lynch talks about some of there fundamentals above. What is stopping the transition? awareness? would you be prepared to make a change?
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        May 6 2013: I scanned what he said.

        That won't work.

        I would be happy to be on the gold standard so as to alleviated financial enslavement
        • May 7 2013: The U.S. went off the gold standard under President Nixon in 1971. What may not be widely known is that the classic gold standard that the U.S. was utilizing (and that Britain and France had followed before) included a 40 percent cover ratio.

          What does that mean? The government will only print money if it has gold in its Treasury equivalent to 40% of the currency in circulation. That means if you have $10 billion of money in circulation, you have to have $4 billion of gold in the Treasury. A lot of gold bulls don’t realize it was a 40 percent cover.

          Pro: Simply put, the big positive of a return to the gold standard would give us fiscal discipline for governments, businesses and individuals. It would force all of us to be more fiscally responsible.

          Con: On the negative side of the coin, our jobs, incomes and the overall economy would grow at a much slower pace. Why?

          The answer comes down to money supply. That simply means the total money in circulation. and it is a dynamic and growing figure.

          Modern finance has growing money. Money supply grows in reaction to the growth of the real economy. As an economy grows, more wealth is generated. Post industrial growth for the last 160 years has averaged 2-3 percent and the gold supply hasn’t risen at the same pace.

          Put another way, today’s global economy stands at roughly $100 trillion GDP, and has been growing at 3-4 percent per year. Finding that much more gold per year is just not going to happen. That’s why going back to the gold standard is a pipe dream.

          Another stumbling block would be the difficulty in actually organizing a shift back to the gold standard. Some say it would only work if all countries agreed to work off the gold standard. Suppose we did it and the rest of the world didn’t drink the Kool Aid, we’ve got an economy moving at a snail’s pace and we’ve got the rest of the world growing at a 3.5-4% pace.

          You will win the lottery before we return back to the gold standard.
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        May 7 2013: Sean

        The quantity of gold is irrelevant. It would just be that much more value per unit of gold.

        Bit Coin is this idea. Which would be fine by me as well.

        The main point is to get away from a general devaluing of the money which is stealing.

        Real growth is different than what we have today. They have the idea that the economy can be controlled by government and props up things that should not be propped up which does not allow failure. Mean while investment stands on the side line until they can see a modicum of predictability in the economy which is anything but because of the "I know best" types.

        Yup odds are against it and odds are against this this country and Europe continuing in a recognizable form.
        • May 8 2013: Pat

          How can the quantity of gold be irrelevant if its the standard that your going by?

          i think this is the first time you have mentioned "bitcoin" the digit currency in my opinion will be just as problematic as the current money system, you can polish a turd but its still a turd.

          obviously the powrs to be have manipulated the current system to weigh heavily in their favour and leave us little guys at the dinner table begging for scraps. hense devaluation through inflation and the ever persistant interest attached to every thing makes enslavement to the system inevitable.

          its hard to say what real growth is as we are rarely priveldged to access unbiased data in realation to such. i dont think governments have any real control over the economy its all the world and central banks around the world with their exemptions from auditing and any out side control, they truely rule the world.

          if money is the problem why not erradicate the problem?
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        May 8 2013: Because the money becomes fixed to a certain amount of gold. Which creates a problem with growth of the economy as the the country would need more gold. But compared to what we have it is preferable. As inflation is not uniform and the elite benefit more from the source of the inflation.

        With Bitcoin the amount is not fixed.Which admittedly is dependent on confidence in Bitcoin. But it is not rigged. The natural outcome in a free market is deflation so that is to my understanding what would occur especially since you do not have any cronies printing money like the mad men that they are. Since you do not have anything to limit the value of the money it is infinitely expandable which at the same time will create infinite confidence.

        Not that this is for sure, but it strikes at the basic problem of the money. Could be worse than what we have now?
        • May 9 2013: but your the one putting forward the idea of the gold standard, now your saying with this system growth would not work? this is the reason the abandoned the gold standard in the first place. i see the gold standard as a step in the opposite direction to where we need to go. inflation and interest are just in built mechanisms in the central banking system this wont be the case if we move away from these types of systems all together.

          so bitcoin would be a self managed or third party audited system? we can run into the same broblem with bitcoin as we have with money today. who controls ii? who is resposable for auditing them? who is in change of the people auditing? who is the governing body of the auditors? we run into the same issure as the present system, power currupts, absolute power currupts absolutely.

          i dont see why we need this alternative to money to be some thing along the same line.
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        May 9 2013: But it did work as it was used in the U.S. up until 1971 and the U.S. was the most successful country in the history of the world. Look at any CPI graph to see when the inflation hockey sticked in 1971

        Bitcoin is not managed by anyone, it's value would be decided by the market. It will be printed at a predetermined level.and stop at a maximum of 21 million. Some say there will be a bubble with Bitcoin but it would seem that being a market created bubble it will remedy itself quickly.

        The beauty of this is that it is not manipulated by a central bank. I don't know enough about this know if it will work but neither do you.
        • May 13 2013: i just noticed that you had writen this babble.

          you understand what inflation is dont you? the devaluing of the currency by circulating more of it. so at that point i cant see what your on about as the central bank do as they please gold standard or not the two are not related.

          so are we just in a wishful bliss of this self controlled bitcoin system doing good for all humanity? and its controlled by the market what if the market crashes as its inclined to do when this new wishfull thinking system comes into play? it is my belief that such a system coming into play with all the credibility that you boast for bitcoin the market would crash on the first day with all the uncertainty.

          not manipulated by a central bank but by the market overnight bitcoin would be worth nothing. now you dont know enough about it neither do i no your right but you brought it up so at least have the backing on your claims before some one questions them and you just attempt to cut and run with your last statement come on thats just lazy.
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        May 13 2013: Arrogance dully noted.

        The two are not related? Seriously?

        Guaranteed there would be bubbles. The point is that the market corrects them quickly

        Bitcoin is in the nascent stages.

        Money by definition is a symbol backed by confidence. That confidence does not happen overnight.
        Once people see a system controlled by the market instead of central banks I think that will be the tipping point.

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