Ron Ginn Posted almost 2 years ago What benefits and challenges might arise as a result of transitioning from a monetary system to a resource-based society? A Monetary system Is an accounting tool, for a resource-based society. The fact is: money does not exist, and everyone knows it intuitively; but comes back to the reality of “you can’t live without money”. A Monetary system & Money are simply a system for measuring Value. Value exists only as an opinion of people, and is, as real as the people expressing the opinion. “You can’t live without Value” - Many people live without money all over the world. Working, is simply an effort taken to create enough value, to balance out the value you must consume to live. I think that the dominant Western Monetary system is a “comprehensive accounting of the planets resources”, physical & intellectual. TED is a bank of intellectual resources. *Ownership of resources In Australian Aboriginal culture the concept of Owning something is non-existent. In that culture value is not placed Owning something, value is belonging to & caring for something. Ownership is not, an asset, it is a liability. When a young Aboriginal child is educated about their totem, say the River, the child is compelled to spend much time learning about, and caring for, the River. The River is not an asset they own, this is a liability. A responsibility that they invest much time into, the River becomes their contribution to society. They become as valuable to society as the River. *Sustainability •Indigenous cultures have existed for 10,000s of years, Western “Ownership” has existed for 5000 or less. •Western cultures have increased environmental risks, while Indigenous cultures adapted to environmental risks. •Indigenous cultures belong to the land & move through the world. Western cultures cling to hopes of permanence. * Usership vs Right of possession The desire to use not own, is a growing trend exhibited through the rise of the… •“The sharing economy” •Peer 2 Peer •Crowdfunding Conclusion – The Monetary system is an accounting tool for a resource-based society. Money does not exist.