THE FUTURE
When it comes to big issues like reform of the monetary system, many of us are immediately overcome by a sense of powerlessness. Where on earth do we begin? Yet large-scale systemic change will be unavoidable if we are to progress as a society. And such change is born in the imagination.
For centuries people could not imagine that the economy would survive if slavery or child labour were abolished. Barely a century ago it was normal for women not to have a vote. But also these systems were reformed. When growing numbers of people are able to imagine how things might be done differently, change becomes unstoppable.
How to reform our monetary system?
What should we water?
The reform of our monetary system will also begin with the power of imagination. If it were up to you, what parts of the economy would you like to see flourish? What would you water? What channels will need to be closed, and what new ones dug?
Carlijn Kingma, Thomas Bollen and Martijn van der Linden have developed three scenarios for a fairer monetary system, on the basis of various reform proposals and discussions with dozens of experts.
Power over the money printing press
Who should be responsible for creating money? On what basis should that new money be allocated? And how can we introduce the right checks and balances on such enormous power? Each of the three scenarios presents a different answer to these questions, depending on the values and ideals on which it is based.
THREE FUTURE SCENARIOS
VIDEO RELEASE: FALL 2023
Currently, we are developing three future scenarios in collaboration with researchers, writers, politicians and experts. You can already explore the maps. In the fall year we will publish the videos and stories that accompany the future scenarios.
The Valley of Debt-Free Money
The Valley of Debt-Free Money is a society that is no longer dependent on privately owned commercial banks for the creation of money and payment transactions. The public money system provides a safe way to pay and save. A flourishing private investment market exists alongside this, where risks are taken in a conscious and well-considered way. Public safety nets for the financial sector are a thing of the past.
This scenario is being developed in collaboration with former president of the Spanish central bank, Miguel Fernandez Ordóñez and several members of the International Movement for Monetary Reform. It is inspired by The Chicago Plan for monetary reform that was developed in the 1930s.
The Agora of Democratic Money
The Agora of Democratic Money visualises a society where power over money has been democratised. The monetary authority is subject to democratic control, and it allocates the new money in the form of a universal basic income. Shares and voting rights in companies are held by the employees.
This scenario was developed with the Greek economist and former finance minister Yanis Varoufakis and is inspired by his book Another Now.
The Republic of a Thousand Coins
In The Republic of a Thousand Coins everyone can make their own money. The state no longer dictates what currency must be used to pay taxes. This creates a diverse monetary landscape in which currencies coexist and compete with each other.
This scenario was developed in collaboration with supporters of free banking and initiators of various community currency projects. It is inspired by The Denationalization of Money by Friedrich Hayek and the work of Belgian economist Bernard Lietaer.