Do shared political governance and Shared Monetary Governance require Campaign and Monetary Finance Reform?
Sharing Economic Decision-making power is as important as sharing real political power. That was the premise behind my book Shared Monetary Governance. I re-summarize the summary, as I now understand that economic and political power are interconnected, and require equal measures of accessibility.
1st Half = Campaign Finance Reform, to help spread real inclusion in the political process.
2nd Half: Shared Monetary Governance can help create greater economic inclusion:
Local currencies, supplemental forms of money which circulate in local communities, 1.) create more social and financial capital in local communities, 2.) keep local resources in communities, and 3.) grow monetary decision-making access in communities while facilitating the revaluing of unpaid work. Time Banks ensure that value held locally will remain a Store of Value (SoV) in the local community over a long period of time. Scrip currencies like Ithaca Hours fill the Medium of Exchange (MoE) function, to be discussed later.
Governance of Money (SoV) vs. Economic Benefit of Money (SoV)
Each Time Bank member can choose to create new money in the local economy, when he or she decides to donate time to another member of the Time Bank. Each hour donated to a Time Bank adds to the overall amount of money stored for the long term in a local community, creating new resources in that community.
Time Banks encourage community members to attend Time Bank decision-making meetings, keeping and increasing locally decided economic priority-setting participation by all members as part of the community.
Hours stay in the local community, keeping more resources in the community, thus they stop the draining of local resources to distant areas (so the wealth is no longer accessible to the community).
Storing value locally gives citizens a greater stake in
community institutions, encouraging a growing level of
transparency and accountability in all its projects.
Since an hour never loses its value as an hour, storing their value as time in the local community encourages long term local economic growth.
Supplemental SoV currencies like Time Banks and Local MoE Currencies such as Anacostia Hours allow greater levels of inclusion to members of the community in local economic decision-making processes. This is an example which the US Dollar, with far more closed (non-inclusive), less transparent and less publicly accountable decision-making processes, can learn from and emulate. Inclusion gives direct stakeholders of governance a voice in money and in politics, which vitally affect all of our lives.
K. Dittmer’s original review of Shared Monetary Governance, in the IJCCR, can also be found here:
Peace and Full Potential for All,
Shira Destinie Jones Landrac, of The MEOW CC Blog
Gregorian Date: Wednesday, 10 September 2014
MEOW Date : Sunday, 10 September, 12014 H.E. (Holocene Era, aka Human Era)