What kind of currency, then, could be aligned with the living world so that it promoted regenerative investments rather than pursuing endless accumul… - Kate Raworth

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What kind of currency, then, could be aligned with the living world so that it promoted regenerative investments rather than pursuing endless accumulation? One possibility is a currency bearing demurrage, a small fee incurred for holding money, so that it tends to lose rather than gain in value the longer it is held. The fact that demurrage is an unfamiliar term shows how accustomed we are to the ever-rising financial escalator that we ride – like knowing the idea of ‘up’ but not ‘down’, ‘more’ but not ‘less’. But demurrage is a word worth knowing because it could just feature in the financial future.

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About Kate Raworth

Kate Raworth (1970-) is an English economist, known for her 'doughnut economics' model balancing between essential human needs and planetary boundaries.

Biography information from Wikiquote

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When Adam Smith, extolling the power of the market, noted that, ‘it is not from the benevolence of the butcher, the brewer, or the baker that we expect our dinner’, he forgot to mention the benevolence of his mother, Margaret Douglas, who had raised her boy alone from birth. Smith never married so had no wife to rely upon (nor children of his own to raise). At the age of 43, as he began to write his opus, The Wealth of Nations, he moved back in with his cherished old mum, from whom he could expect his dinner every day. But her role in it all never got a mention in his economic theory, and it subsequently remained invisible for centuries.

global greenhouse gas emissions is highly skewed: the top 10 percent of emitters — think of them as the global carbonistas living on every continent — generate around 45 percent of global emissions, while the bottom 50 percent of people contribute only 13 percent.

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Instead of immediately focusing on making markets work more efficiently, we can start by considering: when is each of the four realms of provisioning — household, commons, market and state — best suited to delivering humanity’s diverse wants and needs? What changes in technology, culture and social norms might alter that? How can these four realms most effectively work together — such as the market with the commons, the commons with the state, or the state with the household? Likewise, rather than focusing by default on how to increase economic activity, ask how the content and structure of that activity might be shaping society, politics and power. And just how big can the economy become, given Earth’s ecological capacity?

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