[P2P-F] presenting panoply

Fri Sep 9 18:21:05 CEST 2011

I don't know enough of U.S. history to understand your contribution fully,
but I am intrigued by one paragraph, just below, and wonder if you would not
be up for a p2p blog article on 'wrong solutions to commons problems', where
you elaborate the following for a lay audience,

see:

"The power of the states and local banks to
circulate their own certificates/currencies was the applied solution
became known as the free banking era in US economic history. As a
consequence of no banking regulations virtually at all By the time of the
issuance of the US Greenbacks in 1861 there were 7,000 different
currencies being used. The Free Banking period is renown for the
widespread fraud, bankruptcy, and counterfeiting resulting from a state's
rights "solution" to a commons problem. This is the same level of
subversion of the need for a genuine alternative in a commons based
monetary paradigm."

On Fri, Sep 9, 2011 at 10:28 PM, <ideasinc at ee.net> wrote:

> This seems quite progressive for the most part, and it seems to be not
> fully out of the neo-classical financialized capitalism box. Lietaer's own
> The Future of Money directly admits concession to the debt based monetary
> model. I believe I remember that it appears on page 214. In effect the
> agenda of nominal monetary reform without much actual monetary reform.
>
> By way of an historical example from the 19 century in the US, Pres.
> Andrew Jackson's battle against the Second National Bank of the US as a
> group of blood thirsty frauds and thieves was not a simple hero story
> featuring good guy versus bad guys. It is actually an example of right
> problem but wrong solution. The power of the states and local banks to
> circulate their own certificates/currencies was the applied solution
> became known as the free banking era in US economic history. As a
> consequence of no banking regulations virtually at all By the time of the
> issuance of the US Greenbacks in 1861 there were 7,000 different
> currencies being used. The Free Banking period is renown for the
> widespread fraud, bankruptcy, and counterfeiting resulting from a state's
> rights "solution" to a commons problem. This is the same level of
> subversion of the need for a genuine alternative in a commons based
> monetary paradigm.
>
> The Greenbacks became politically hazardous later exactly because of the
> massive positive effect of an asset based, sovereign issued currency, the
> banking sector lobbied hard toward converting the US system onto a Gold
> standard, and they won that one. In 1863-4 the National Banking acts were
> passed as a compromise with the banking sector of the pro-war merchants.
> These laws allowed the operations and incorporation of banking
> corporations across state lines and shut down the ability of local and
> state banks to issue currencies. This allowed the mega-banks to be largely
> control the development of the economy once the US Civil War ended. And
> there is more, and then also the fraud of the US Federal Reserve, in the
> lineage of the Bank of England fraud playbook. The failings of the
> Confederacy was particularly interesting in that they preserved the states
> rights category of impairing actual common economic participation, and
> thereby did not have anything like the Greenbacks.
>
> The point here is that the same sort of centrifugal dynamics will prevail,
> including in the assumption of limited framing and alternatives. To put it
> in zen koan structure, when is an alternative, like one hand clapping? To
> put it another way perhaps the possibilities should be only limited by our
> capacities, rather than by the acceptance of standards and policy manuals
> for the sake of free rent and worse. Cook's Open Capital model also hovers
> on the edge of the post-Keynesian macro-commons. In effect the Greenback
> was the right solution to the chicanery of the Second National Bank of the
> US. It was not a debt based currency. Exhortations to a social
> libertarianism seem most practical when the additional capacities can be
> explored outside the installed pre-suppositions.
>
> as we go, Tadit Anderson
>
>
>
>
>
>
>
> Civilized, gives people equal economic opportunity and basic income
> security.
>
>  Massively parallel decision making and pricing based on a market (the
> best of capitalism).
>
>  Environmentally conscious.
>
>  Resilient to future changes in automation, robotics.
>
>  P2P lending encourages community building, nurturing trust, and long term
> thinking.
>
>  Resolves the tragedy of the commons in a mature way:
>
>  P2P trust effectively limits the effects of free-loaders without ruining
> the entire playing field.
>
>
> On Fri, 09 Sep 2011 10:00:19 -0400, Michel Bauwens
> <michel at p2pfoundation.net> wrote:
>
> > *Mohamad Tarifi <http://ieet.org/index.php/IEET/bio/tarifi/>'s economic
> > proposals at http://ieet.org/index.php/IEET/more/tarifi20110908 are
> quite
> > interesting and sensible,
> >
> > I'll be excerpting the p2p paragraphs on the blog on the 18th,
> >
> > Michel
> > *
>
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