I agree with Gary Amstutz's submission; however, this to me would be a very temporary solution. This is because the monetary system is inherently flawed, whether you subscribe to the Keynesian, Socialist or Austrian Model of economics, any economy that is based on a monetary system will be inherently flawed and will leave a segment of humanity out in the cold. These kinds of financial crisis will continue, each being worse than the previous one.
I believe that we need to start a debate and talk about a resource-based economy that leaves no one out in the cold. Jacque Fresco said it best:
"A Resource-Based Economy is a system in which all goods and services are available without the use of money, credits, barter or any other system of debt or servitude. All resources become the common heritage of all of the inhabitants, not just a select few. The premise upon which this system is based is that the Earth is abundant with plentiful resource; our practice of rationing resources through monetary methods is irrelevant and counterproductive to our survival....
"Money is only important in a society when certain resources for survival must be rationed and the people accept money as an exchange medium for the scarce resources. Money is a social convention, an agreement if you will. It is neither a natural resource nor does it represent one. It is not necessary for survival unless we have been conditioned to accept it as such."
http://awakenlife.net<br />College Park, MD
Mar 17 2009 - 9:39am