Charles Eisenstein: Sacred Economics: Money, Gift, & Society in the Age of Transition (2011)
Filed under book | Tags: · banking, commons, debt, economics, economy, gift culture, gift economy, money, production
Sacred Economics traces the history of money from ancient gift economies to modern capitalism, revealing how the money system has contributed to alienation, competition, and scarcity, destroyed community, and necessitated endless growth. Today, these trends have reached their extreme—but in the wake of their collapse, we may find great opportunity to transition to a more connected, ecological, and sustainable way of being.
This book is about how the money system will have to change—and is already changing—to embody this transition. A broadly integrated synthesis of theory, policy, and practice, Sacred Economics explores avant-garde concepts of the New Economics, including negative-interest currencies, local currencies, resource-based economics, gift economies, and the restoration of the commons. Author Charles Eisenstein also considers the personal dimensions of this transition, speaking to those concerned with “right livelihood” and how to live according to their ideals in a world seemingly ruled by money. Tapping into a rich lineage of conventional and unconventional economic thought, Sacred Economics presents a vision that is original yet commonsense, radical yet gentle, and increasingly relevant as the crises of our civilization deepen.
Publisher North Atlantic Books, 2011
ISBN 1583943978, 9781583943977
469 pages
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Detlev S. Schlichter: Paper Money Collapse: The Folly of Elastic Money and the Coming Monetary Breakdown (2011)
Filed under book | Tags: · banking, economics, economy, finance, money
The case for the inevitable failure of a paper money economy and what that means for the future
All paper money systems in history have ended in failure. Either they collapsed in chaos, or society returned to commodity money before that could happen. Drawing upon novel new research, Paper Money Collapse conclusively illustrates why paper money systems—those based on an elastic and constantly expanding supply of money as opposed to a system of commodity money of essentially fixed supply—are inherently unstable and why they must lead to economic disintegration.
These highly controversial conclusions clash with the present consensus, which holds that elastic state money is superior to inflexible commodity money (such as a gold standard), and that expanding money is harmless or even beneficial for as long as inflation stays low. Contradicting this, Paper Money Collapse shows that:
– The present crisis is the unavoidable result of continuously expanding fiat money
– The current policy of accelerated money production to “stimulate” the economy is counterproductive and could lead to a complete collapse of the monetary system
– Why many in financial markets, in media, and in the policy establishment are unable (and often unwilling) to fully appreciate the underlying problems with elastic money.
This compelling new book looks at the breakdown of modern economic theory and the fallacy of mathematical models. It is an analysis of the current financial crisis and shows in very stark terms that the solutions presented by paper money-enthusiasts around the world are misguided and inherently flawed.
Foreword by Addison Wiggin
Publisher John Wiley & Sons, 2011
ISBN 1118095751, 9781118095751
240 pages
Lawrence H. White: The Clash of Economic Ideas: The Great Policy Debates and Experiments of the Last Hundred Years (2012)
Filed under book | Tags: · business, economics, economy, history, liberalism, market, money, production
The Clash of Economic Ideas interweaves the economic history of the last hundred years with the history of economic doctrines to understand how contrasting economic ideas have originated and developed over time to take their present forms. It traces the connections running from historical events to debates among economists, and from the ideas of academic writers to major experiments in economic policy. The treatment offers fresh perspectives on laissez faire, socialism and fascism; the Roaring Twenties, business cycle theories and the Great Depression; Institutionalism and the New Deal; the Keynesian Revolution; and war, nationalization and central planning. After 1945, the work explores the postwar revival of invisible-hand ideas; economic development and growth, with special attention to contrasting policies and thought in Germany and India; the gold standard, the interwar gold-exchange standard, the postwar Bretton Woods system and the Great Inflation; public goods and public choice; free trade versus protectionism; and finally fiscal policy and public debt.
Publisher Cambridge University Press, 2012
ISBN 1107012422, 9781107012424
440 pages
discussion with the author (with Russ Roberts, EconTalk)
review (Alberto Mingardi, The Washington Times)