Third Core Strand: ‘Whole Economics’
Here’s the third of WIN’s four core strands. This strand is Whole Economics:
The Whole Economics strand comprises an intention to move: away from monetary systems disconnected from real value and embedded in usury;
towards just economic systems nurturing to life, soul and community.
Introduction: The System that Dysfunctions
The recent and ongoing financial crisis is a manifestation of an economic system that is unsustainable, unjust and disconnected from the real world. We have witnessed a debt crisis leading to billions of pounds raised within a few weeks to bail out banks. Yet, simultaneously, we have witnessed a financial neglect of services such as the NHS and education along with a mindless neglect of ecological justice. Something is very clearly wrong.
Indeed, not only is there an upside down world of priorities, but the capitalist system is a key component responsible for ecological injustice. Rescuing such a system with billions of pounds means more of such injustice – more destablisation of human societies and the wider natural world. What is needed instead is a radical shift to economic sytems working in harmony with the natural order. This would mean less to spend on problems otherwise created and exacerbated by the dysfunctional capitalist system. WIN believes that we need to work together to implement a joined-up approach.
A Fictitious Cycle: The Creation of Money
“The process by which banks create money is so simple the mind is repelled.” John Kenneth Galbraith, Economist,
“Permit me to issue and control the money of a nation, and I care not who makes its laws.” Mayer Amschel Rothschild, International Banker
As the New Economics Foundation (NEF) point out: “Many people would be surprised to learn that even among bankers, economists, and policymakers, there is no common understanding of how new money is created.”