What would we have to do to save the humans?

An extract from a paper, the link to which can be found near the bottom

If we want a sustainable economy, one that “meets the needs of present generations without compromising the ability of future generations to meet their needs,” then we would have to do at least some or all of the following:

1. Put the brakes on out-of-control growth in the global North – retrench or shut down unnecessary, resource-hogging, wasteful, polluting industries like fossil fuels, autos, aircraft and airlines, shipping, chemicals, bottled water, processed foods, unnecessary pharmaceuticals, and so on. Abolish luxury goods production, the fashions, jewelry, handbags, mansions, Bentleys, yachts, private jets etc. Abolish the manufacture of disposable, throw away and “repetitive consumption” products. All these consume resources we’re running out of, resources which other people on the planet desperately need, and which our children and theirs will need.

2. Discontinue harmful industrial processes like industrial agriculture, industrial fishing, logging, mining and so on.

 

3. Close down many services – the banking industry, Wall Street, the credit card, retail, PR and advertising “industries” built to underwrite and promote all this overconsumption. I’m sure most of the people working in these so-called industries would rather be doing something else, something useful, creative and interesting and personally rewarding with their lives. They deserve that chance.

4. Abolish the military-surveillance-police state industrial complex, and all its manufactures as this is just a total waste whose only purpose is global domination, terrorism and destruction abroad and repression at home. We can’t build decent societies anywhere when so much of social surplus is squandered on such waste.

5. Reorganize, restructure, reprioritize production and build the products we do need to be as durable and shareable as possible.

6. Steer investments into things society does need like renewable energy, organic
real-world economics review farming, public transportation, public water systems, ecological remediation, public health, quality schools and other currently unmet needs.

7. De-globalize trade to produce what can be produced locally, trade what can’t be produced locally, to reduce transportation pollution and revive local producers.

8. Equalize development the world over by shifting resources out of useless and harmful production in the North and into developing the South, building basic infrastructure, sanitation systems, public schools, health care, and so on.

 

9. Devise a rational approach to eliminate and/or control waste and toxins as much as possible.

10. Provide equivalent jobs for workers displaced by the retrenchment or closure of unnecessary or harmful industries, not just the unemployment line, not just because otherwise, workers cannot support the industrial we and they need to save ourselves.

• 
  

  Robert Searle The above is an extract from a paper see link http://www.paecon.net/PAEReview/issue64/Smith64.pdf
  
  With advanced stage Transfinancial Economics many seriously polluting, and indeed, "unethical" industries could be phased out with a form of "on-going" compensation on a massive scale, and without serious inflation. This seems to be the only real alternative that would bring about real change otherwise it would probably be "impossible" with our present debt financial system.
  
  http://www.p2pfoundation.net/Transfinancial_Economics

Colonial Scrip

Ref Wikipedia/ Friends of the American Revolution.

Colonial Scrip was a paper fiat money as opposed to specie issued by the colonies in the pre-revolution era, up until 1775. It was an altogether different money from Continental currency; which was money issued during the American Revolution, that depreciated rapidly, to fund the war effort.

Conception

Colonial Scrip was not backed by gold or silver and therefore the Colonies could control its purchasing power. This was a revolutionary concept in economics, because the conventional European mercantilist system of money required governments to borrow from banks and pay interest for those loans, as gold and silver were the only regarded forms of money. This is known as the debt-based money system, where banknotes are “bills of debt.” Colonial Scrip, however, were “bills of credit” created by the government, based on the credit of that government, and this meant that there was no interest to pay for the introduction of money. This went a considerable way towards defraying the expense of the Colonial governments and in maintaining prosperity. The Governments charged low interest when it loaned out this paper money to its citizens, with land as collateral, and this interest income lowered the tax burden on the people, contributing to prosperity.
The currency was born when a lack of gold and silver in the Colonies made trade hard to conduct, and a barter system prevailed. One by one, the Colonies began to issue their own paper money to serve as a medium of exchange to make trade vibrant. The Governments could then retire excess notes out of circulation by taxing the people, helping some Colonies generally avoid inflation. Each Colony had its own currency and some were better managed than others. It was banned by English Parliament in the Currency Act after Benjamin Franklin had explained the benefits of this currency to the British Board of Trade. Outlawing the circulating medium caused a depression in the Colonies, and Franklin and many others believed it to be the true cause of the American Revolution.

Pennsylvania

Main article: Pennsylvania pound

The Pennsylvania version of this currency was said to be the most effective, because they controlled the money supply and issued only enough notes so as to satisfy the demands of trade, preventing inflation. In 1938, Dr. Richard A. Lester, an economist at Princeton University, wrote that “The price level during the 52 years prior to the American Revolution and while Pennsylvania was on a paper standard was more stable than the American price level has been during any succeeding fifty-year period.” Pennsylvania established a “land bank” that allowed landowners to borrow Scrip with their land as collateral. They could borrow twice the value of their land, half of it representing actual land value, and the other half representing production potential of the land. The loan was to be retired over a set period of years, with the land onwership being restored to the citizen upon payment. When the loan was fully retired, another loan could be taken out.

Benjamin Franklin

Benjamin Franklin helped create the Pennsylvania Scrip, and in his autobiography he wrote of this currency:

The utility of this currency became by time and experience so evident as never afterwards to be much disputed

Franklin believed the shutting down of this paper money by Parliament in 1764 was the principal cause of the American Revolution, as did many other prominent Americans. Peter Cooper, founder of Cooper Union College, Vice-President of the New York Board of Currency, US Presidential Candidate in 1876, and one-time colleague of Secretary of the Treasury Albert Gallatin said in his 1883 book Ideas for a Science of Good Government:

After Franklin had explained…to the British Government as the real cause of prosperity, they immediately passed laws, forbidding the payment of taxes in that money. This produced such great inconvenience and misery to the people, that it was the principal cause of the Revolution. A far greater reason for a general uprising, than the Tea and Stamp Act, was the taking away of the paper money.

Adam SmithAdam Smith wrote of the Pennsylvania currency in his famed 1776 work The Wealth of Nations:

The government of Pennsylvania, without amassing any [gold or silver], invented a method of lending, not money indeed, but what is equivalent to money to its subjects. [It advanced] to private people at interest, upon [land as collateral], paper bills of credit…made transferable from hand to hand like bank notes, and declared by act of assembly to be legal tender in all payments…[the system] went a considerable way toward defraying the annual expense…of that…government [low taxes]. [Pennsylvania’s] paper currency…is said never to have sunk below the value of gold and silver which was current in the colony before the…issue of paper money.

External links

• Currency Issues to Overcome Depressions in Pennsylvania, 1723 and 1729
• The Autobiography of Benjamin Franklin, Part XXIV
• Ideas for a Science of Good Government 1883
• Adam Smith: The Wealth of Nations, Book V:On the Revenue of the Sovereign or Commonwealth, Chapter II
• Creating the U.S. Dollar Currency Union,1748-1811: A Quest for Monetary Stability or a Usurpation of State Sovereignty for Personal Gain?
• Miscounting Money of Colonial America