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Theme: Energy currency
Energy as the fundamental Measure of
Price, Cost and Value
First International Social
Transformation Conference
10-12 July 2012, Split, Croatia
In memoriam
Nikola Tesla
(1856–1943)
Redesigning Money for the Solar Age
HAZEL HENDERSON, D.Sc.Hon., FRSA
President, Ethical Markets Media (USA and Brazil)
Author, Ethical Markets: Growing the Green Economy
Ethicalmarkets.com
Ethicalmarkets.tv
Mercadoetico.com.br
Calvert-Henderson.com
Ethical Markets Media
www.ethicalmarkets.com www.ethicalmarkets.tv
Solar irradiation versus established global energy resources
"Solar Generation 6," EPIA 2011
EVOLUTION OF HUMAN UNDERSTANDING OF THE ROLE OF MONEY
AND OTHER MEDIUMS OF EXCHANGE
(2000 and beyond)
Money-systems augmented by pure information-based trading systems
transition from Industrial Era to "green" info-rich economies of the Solar Age.
Crisis of fossil-fueled Industrialism (1973-2008)
floating fiat currencies - money as paper banknotes and electronic blips
Late-Industrial Period (1900s-1973)
Gold standard-based money for international transactions
Early Industrial Period (1700s-1900s)
silver and gold (transactions mostly nation-state based)
Preindustrial societies (3000 BC –
1700s) clay tablets, shells, cattle,
metal tokens
© Hazel Henderson 2008
TWO MAIN WAYS OF TRANSACTING
Money Based
Money Economy
Information-Based
Love Economy
•Cooperation
•Barter-Mutual Aid
Copyright © Hazel Henderson 2000
Ethical Markets Media
www.ethicalmarkets.com www.ethicalmarkets.tv
A Planetary Whole-System Shift
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Is underway and accelerating
Due to increasing interconnection
Crises of global financialization
Social and environmental impacts of
global industrial model
Resource depletion
Expansion of scientific knowledge
Rise of human awareness
Information-sharing by citizens across
boundaries
Ethical Markets Media
www.ethicalmarkets.com www.ethicalmarkets.tv
Collapse of the Global Casino
• Manipulating LIBOR!
• Financialization -- the biggest bubble
• Un-repayable debt levels
• Zero interest rates
• Money-printing
• Currency trading -- $4 trillion per DAY
• High-frequency trading
• Derivatives ($700 trillion)
VS
• Global GDP ($65 trillion in 2011)
Ethical Markets Media
www.ethicalmarkets.com www.ethicalmarkets.tv
SHIFT MAL-INVESTMENTS TO
THE GREEN ECONOMY
$3.3 trillion in private sector
investments in growing the
green economy worldwide
Renewable Energy
Green Building and Efficiency
Smart Grid
Clean Tech
Corporate R&D
February 2012 findings at
www.ethicalmarkets.com
excludes: nuclear, coal,
CCS, ag-biofuels
Independent, multi-media company (USA
and Brazil) -- reforming markets, metrics
and growing the green economy globally
Ethical Markets Media
www.ethicalmarkets.com www.ethicalmarkets.tv
The Transforming Finance
Initiative
Join over 80 world-class expert signers!
www.transformingfinance.net
• statement by Ethical Markets, the Capital Institute,
University of Notre Dame and Networking Action
• As market participants and beneficiaries, the group took
responsibility to promote fundamental restructuring and
reform.
• Finance is part of the Global Commons as recognized
since Bretton Woods in 1945.
Transforming Finance TV Series available for colleges and libraries
at www.films.com
Ethical Markets Media
www.ethicalmarkets.com www.ethicalmarkets.tv
Transition Safety Nets
• swaps, barter
• LETS, complementary currencies
• Time Banking
• localized "homegrown" economies
• credit-systems
• cooperatives
• community credit unions
• micro-loans -- crowdfunding
Ethical Markets Media
www.ethicalmarkets.com www.ethicalmarkets.tv
Explosion of Indicators!
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1975
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Canada's Conserver Society
Jacksonville Quality of Life Indicators, USA
Index of Sustainable Economic Welfare
UN Human Development Index
Community Indicators Network
Genuine Progress Indicators
EU Parliament - Taking Nature into Account
Calvert-Henderson Quality of Life Indicators
ICONS – Brasil-Watch
Canadian Index of Wellbeing
EU Parliament Beyond GDP Conference
Sustainability Compendium, Sao Paulo, SP
Global Peace Index
Inclusive Wealth Index
© Hazel Henderson 2010, 2012
www.ethicalmarkets.com www.ethicalmarkets.tv
Ethical Markets Media
Re-Designing Money
• Acknowledge money is not wealth
• Money = Information
• End fractional-reserve banking
• National governments issue money and
spend into their economies
• Public banks – 100% capital reserves
• Separate retail banks
www.ethicalmarkets.com www.ethicalmarkets.tv
Ethical Markets Media
4 Levels of Money
all backed by goods, services and renewably
generated electricity
• Global trade: SDRs
• National Currencies
• Regional and city currencies (e.g., Brazil)
• Community currencies, credit systems
• PLUS: crowdfunding, p2p lending,
investing, donating – all online
Ethical Markets Media
www.ethicalmarkets.com www.ethicalmarkets.tv
The Re-Design Revolution
from scarcity to abundance
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Everyone can contribute
New governance – participatory democracies
New currencies, time banking
Crowdfunding
Transition towns
Sharing peer2peer "wikinomics"
Eco-agriculture, farmers markets
Eco-designed products and processes
Biomimicry based on Nature
Leapfrog!
www.ethicalmarkets.com www.ethicalmarkets.tv
Ethical Markets Media
Thank you!
Now the win-win approach for:
* the economy * jobs
* the environment * society
* climate prosperity
Other Henderson books available in:
Chinese * French * German *
Italian * Japanese * Korean *
Portuguese * Spanish
Chelsea Green 2006