[P2P-F] a local value standard for money

[Fabio Barone]

Although instinctively it resonates, but why would such a standard of value
be local?

Meters or kilograms also don't differ between Nairobi or Buenos Aires.

2016-02-02 7:22 GMT-05:00 Michel Bauwens <michel at p2pfoundation.net>:

> an argument from shann turnbull
>
> ""I cannot see how money can become democratic unless its value is
> determined independently of the financial system just as standards of
> weights and measures are determined independently of those that use them as
> a common good."
>
> Local Standard of Value
> <http://p2pfoundation.net/Local_Standard_of_Value#mw-head>
> <http://p2pfoundation.net/Local_Standard_of_Value#p-search>
>
>
> Discussion[edit
> <http://p2pfoundation.net/index.php?title=Local_Standard_of_Value&action=edit&section=1>
> ]
>
> Shann Turnbull:
>
> "I cannot see how money can become democratic unless its value is
> determined independently of the financial system just as standards of
> weights and measures are determined independently of those that use them as
> a common good.
>
> A local standard of value established in each bio-region would allow
> anyone in that region to enter intro contract to exchange goods and
> services with reference to the accepted standard. There would be no need
> for either a centralised or distributed ledger even if one was kept.
>
> Establishing the standard of value on a democratic basis becomes a
> governance problem not a financial one. Millions of producer and/or
> suppliers of benign renewable energy being shared through a cooperative
> creates a democratic governance arrangement that unlike LIBOR or foreign
> exchanges could have its value cross checked by millions of its stake
> holding suppliers/consumers.
>
> I would caution the call of requiring money to be created without debt
> unless you also specify "Bank" debt. If we are going to use money as a
> medium of exchange it will be creating private peer to peer debt!
>
> If you want democratic money then we cannot have money that creates money
> by earning interest. The ability of money to earn interest also
> misallocated resources to creating money rather than investing in real
> things that can increase prosperity on a sustainable basis without growth
> and even with de-growth." (email, February 2016)
>
> --
> Check out the Commons Transition Plan here at:
> http://commonstransition.org
>
> P2P Foundation: http://p2pfoundation.net  - http://blog.p2pfoundation.net
>
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