Sunday, August 14, 2016

David Korten — How to Break the Power of Money

To build a truly coherent movement with the necessary strength to replace the failed system with one designed and managed to self-organize toward a world that works for all, we must challenge its bogus claims as logical and practical fallacies. And simultaneously affirm the self-evident truth that:

We are living beings born of and nurtured by a living Earth. Life exists—can exist—only in living communities that self-organize to create the conditions essential to life’s existence. Money is just a number, an accounting chit we accept in exchange for things of real value because we have been conditioned to do so almost from birth.

We who work for peace, justice, and sustainability have the ultimate advantage. Truth is on our side. And the deepest truths, those on which our common future depends, live in the human heart. Let us each speak the truth in our own heart so that others may recognize and speak the truth in theirs. Together we will change the human story.
Marx and Keynes pointed out that the nature of capitalism is money accumulation.

The classical and neoclassical view is that consumption of products returns money to producers who invest in more production of commodities (products for sale), resulting in real growth. Money is just a veil over barter.

The Marxist and Keynesian view is that investment of money generates production of goods the sale of which result in money accumulation by owners of the means of production. In Das Kapital, ch 4, Marx expressed this as the difference between C - M - C' (C prime) and M - C - M' (M prime), where M = money and C = commodities. What Marx called a capitalist economy, Keynes called a monetary production economy. This doesn't imply that Marx and Keynes were "saying the same thing," but that there is a lot of similarity, some of which Keynes borrowed from Marx. See L. Randall Wray, Theories of Value and the Monetary Theory of Production.

Yes! Magazine
How to Break the Power of Money
David Korten

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