Susan Witt, director of BurkShares community currency system presented on theFinance Lab Webinar today and I got to ask her to clarify how it eliminated the excess growth of debt. Then I thought of how the macro-economic solution Keynes first proposed could be usefully built into the design of local currencies to make them more popular and test the larger solution too.
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Susan,
Thanks for presenting on the Finance Lab today, and refreshing my understanding of how the BurkShares currency solves the debt growth problem. I actually attended a daylong seminar with Schumacher in the early 80’s but I seem to recall his director of the project, which I guess would have been you, was not there that day.
I remember trying to talk with him about one of the other strategies for keeping money and debt from growing unsustainably. At that time I don’t think I even knew that Keynes and Boulding had seen the same option for allowing investment markets to stabilize at their natural healthy limits to growth. Continue reading A “Small but Beautiful” addition to the plan