Welcome to European Tribune. It's gone a bit quiet around here these days, but it's still going.
So far you've proposed a patchwork of solutions which don't necessarily scale - from DeliDollars to Petros to pipelines.

Well, drilling down into detail in each aspect might give that impression, certainly in the course of answering numerous questions from different perspectives. But I believe I have now developed the basis of a pretty coherent and comprehensive political economy, thanks in no small part to the rigorous examination on this site.

I am proposing as the basis of a political economy a generic partnership-based framework.

This could be seen as a network of clearing networks, based upon shared transaction and title repositories. A myriad types of value (aka "money's worth") will circulate locally, nationally, regionally and globally, but the Value Standards enabling and acting as a reference for this circulation are few.

Firstly, unitised energy value gives us the means for international exchange exactly analogous to Keynes' International Clearing Union and Bancor. The difference is that it would be a globally decentralised WIR style credit clearing union, with a Petro value standard. It would not be the top down centralised authority Keynes envisaged issuing IOU credit objects the value of which derives only from political fiat.

ie an energy standard would form the basis of global trade. Natural gas is a market where this could start.

Secondly, land rental value gives us the means for national exchange. ie units of land rental value would form the basis of geographically bounded trade. Fixing the property credit crunch through unitisation could kick this off.

Finally, "Guarantee Society" agreements give us frameworks of trust which allow us to introduce and exchange the value created by individuals, whether as sole traders or collectively within enterprises. Introducing WIR clones at local level could kick this mutual credit off tomorrow. After all the WIR itself was a response by Swiss businesses to the Depression.

So in summary, energy value, location value, and intellectual value would be the key "fungible" money's worth in circulation.

"Community Partnership" agreements would incorporate both direct investments in local assets in common custody (enabling Community Investment), and also the collective "Peer" guarantee which enables community credit.

I see such linked consensual agreements as enabling all of the functions currently carried out by governments.

Community Partnerships would not be institutions or organisations of government. They are frameworks for self government and self organisation to a common purpose.

solveig tells me I've done enough detailed explanation - it's time to write the book... :-)

"The future is already here -- it's just not very evenly distributed" William Gibson

by ChrisCook (cojockathotmaildotcom) on Sun Feb 22nd, 2009 at 09:15:54 AM EST
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