We don't wait for it to come crashing down or try to overthrow it but rather start building the next thing and leave it behind in the dust. Bitcoin is one example of this. Communities implementing local-exchange trading (LET) systems are another. The centralized government monopoly on issuance of currency still enslaves us all to that system. Because taxes must be paid in currency of whatever sovereignty you belong to.
Capitalism is absolutely the problem. To be more specific, it's our debt-based, fractional-reserve monetary system. Throughout history, almost anything has been used as money, from seashells to giant stone cylinders, but since 1971 modern money is quite literally made of debt. Few understand how the creation of money works in our time, or the implications of it. As Ford said, if people did, there would be a revolution by tomorrow morning. Until we all understand economics and what system we have currently, we'll never regain our collective imagination to have the ability of coming up with something different. If you are not sure about how money is created these days, here is a great video explaining it
Basically our economic system requires perpetual growth in order to not to blow up. The reason growth is required is that our money is created as debt on which interest needs to be payed back, but the interest itself is never created directly. The system always needs to grow otherwise loans go bad, people lose money and chaos ensues. The problem is, we have a finite planet that will never be able to support a system of perpetual growth - despite technology and advances in efficiency, at one point we'll run out of things to monetize and turn in to more debt.
Also, the wealth gap video in the first post, is not due to human greed or hoarding, but a direct result of the system described above. Simply by having money, people can make money (interest) by lending it out. Over time the owners of capital capture a larger and larger share of the assets through interest payments and you get the situation you have today the where financial aristocracy on Park Ave own the rentier assets and create no real wealth, and the debt-serfs toil away to pay rents and taxes.
In ancient times this was understood as unsustainable in the long-term, and so every 7 years there would be debt jubilees where all debt was erased. Now we simply accept this debt-based money as the only option and some decide to "drop out" without fully realizing this is not the way things have to be, it is simply an arbitrary agreement we've all made, then forgotten we've made it.
Gift economies, alternative currency like bitcoin, and Local exchange trading system (LETS) are the best ways forward imo as well as educating everyone to economics. Not everyone can feasibly drop out. And there are some who require electricity for medical equipment or a myriad of other reasons. There is not need to forgo any modern conveniences. We simply have to upgrade our money to one that is not based on slavery, exploitation, and violence. But until people understand the system we have that won't happen.
Here are some great books I highly recommend for anyone interested to learn more
David Graeber - Debt: The First 5000 Years
Charles Eisenstein - Sacred Economics
Thank you
Capitalism is absolutely the problem. To be more specific, it's our debt-based, fractional-reserve monetary system. Throughout history, almost anything has been used as money, from seashells to giant stone cylinders, but since 1971 modern money is quite literally made of debt. Few understand how the creation of money works in our time, or the implications of it. As Ford said, if people did, there would be a revolution by tomorrow morning. Until we all understand economics and what system we have currently, we'll never regain our collective imagination to have the ability of coming up with something different. If you are not sure about how money is created these days, here is a great video explaining it
Basically our economic system requires perpetual growth in order to not to blow up. The reason growth is required is that our money is created as debt on which interest needs to be payed back, but the interest itself is never created directly. The system always needs to grow otherwise loans go bad, people lose money and chaos ensues. The problem is, we have a finite planet that will never be able to support a system of perpetual growth - despite technology and advances in efficiency, at one point we'll run out of things to monetize and turn in to more debt.
Also, the wealth gap video in the first post, is not due to human greed or hoarding, but a direct result of the system described above. Simply by having money, people can make money (interest) by lending it out. Over time the owners of capital capture a larger and larger share of the assets through interest payments and you get the situation you have today the where financial aristocracy on Park Ave own the rentier assets and create no real wealth, and the debt-serfs toil away to pay rents and taxes.
In ancient times this was understood as unsustainable in the long-term, and so every 7 years there would be debt jubilees where all debt was erased. Now we simply accept this debt-based money as the only option and some decide to "drop out" without fully realizing this is not the way things have to be, it is simply an arbitrary agreement we've all made, then forgotten we've made it.
Gift economies, alternative currency like bitcoin, and Local exchange trading system (LETS) are the best ways forward imo as well as educating everyone to economics. Not everyone can feasibly drop out. And there are some who require electricity for medical equipment or a myriad of other reasons. There is not need to forgo any modern conveniences. We simply have to upgrade our money to one that is not based on slavery, exploitation, and violence. But until people understand the system we have that won't happen.
Here are some great books I highly recommend for anyone interested to learn more
David Graeber - Debt: The First 5000 Years
Charles Eisenstein - Sacred Economics
Thank you
