Commons Transition Stability Plan and Rapid Response Team

From P2P Foundation
Jump to: navigation, search


How to respond rapidly to an economic crisis ?

The idea of this working page is to collect the key initiatives to be taken but also to point to key people who could advise on how to set these policies concretely in motion in a time of crisis.



People

Monetary Issues

    • Pat Conaty: " adding James Robertson and Joseph Huber as experts on 100% money would be important."
    • Richard Werner is German but a professor over here. Here is his report on Green QE - another creative and absolutely practical solution for Syriza if the left gets elected. Yet again another application of 100% money. Here is the link to the full report to download. [1]

Policies

Monetary Transition

  • Pat Conaty: "I have suggested three practical ideas on this list for your consideration: 100% money, emergency currency via patacones/stamp scrip (local authority fee based money) and public banking. These three solutions are not either or but both and."
    • "The beauty of the James Robertson proposal in my short review as he provides the figure work and maths involved to show how a new government can indeed switch existing money supply that is 97% in most countries debt and only 3% coins and notes, to 100% fiat currency, debt can be cancelled by just swapping debt free money for debt money. This is why the solution developed in the 1920s was called 100% money or positive money also today.

But as you will read in the article, debt can be retired this way and bankers lose rights in future to create money by just making loans. This works for the UK as it has the pound but if Greece leaves the Eurozone and returns to the drachma it should be on a 100% money basis.

A country like Greece could pursue this. Creditors get paid so it is peaceful solution. So worth checking out the James Robertson book George as you asked me for another reference beyond Ellen Brown. He developed this model with Joseph Huber in Germany. So an anglo-german partnership here and a sound one for how to update 100% money.

By the way, stamp scrip with a fee is 100% money as it is debt free. So once again these solutions are complementary and additive. Also most importantly they are real money, not funny money as you can pay your taxes with them because they involve social-public partnerships."


Alternative Corporate Ownership Systems

  • Pat Conaty:" I have given you four policy readymades for for a new architecture for money and capital. Two other gaps are alternative corporate ownership systems and the co-operative and common ownership of land."


Cooperative and Common Ownership of Land

  • Pat Conaty: "Let me give you the policy readymades on land de-commodiciation. It is actually set out in considerable detail in The Resilience Imperative by Mike Lewis and myself. Here are some extracts. But first this below is a summary I did for the Fabian society with Steve Bendle showing how land is the platform and solidarity economy and co-operative economy solutions are the applications. Robin Murray invented this wonderful metaphor. George you will see in this article some info on how KfW as the German public bank operates and is investing billions of cheap money for renewable energy and green housing renewal across Germany in partnership with the municipal savings banks and regional co-operative banks. A model for Greece but EU rules are limiting the set up of these public banks but they have found a way round this in the UK but set up ones like the Green Investment Bank which is not cheap money like in Germany, so it was set up and has been set and dead on arrival apart from funding off shore wind farms for the global corporations. The German model is the one to consider."


Housing

  • Pat Conaty: "The other three solutions attached are focused on long term and permanently affordable housing at half cost (because you don’t have to buy the land to build them via the commons solution). These three are extracted short articles from the Resilence Imperative on the Community Land Trust, Mutual Homeownership and garden cities and last the very radical Co-operative Land Bank which shows the figures worked out for a sample urban development."