Special Edition: Financial Crisis - Environmental Crisis: What is the Link?
This is a challenging time to be an academic with an interest in either the economy or the environment: we are being deluged with an over-supply of bad news. From the evidence of accelerating climate change to the increasingly desperate policies of OCyfiscal stimulusOCO and OCyquantitative easingOCO it is difficult enough to keep up with the jargon, never mind the policy. Academics tend to spend their careers looking backwards, analysing what is already safely established and categorized. The present crisis has deprived us of that luxury. Now more than ever our insights and our information are needed to save humanity from two interlinked crises that threaten our future. We need urgent solutions and we need co-operation: for this reason this issue includes contributions from academics and from campaigners. Many have questioned whether we have time to worry about the environment now that the financial crisis has become so pressing. What we seek to make clear in this special issue is that the two crises are in fact two aspects of the same crisis. It is a crisis of overconsumption, of debt-fuelled bingeing. It is a crisis of monetary-and-ecological debt; and of what happens when that debt starts to be called in."
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A New Financial Architecture Based on a Global Carbon Standard
The Politics of Money and Credit as a Route to Ecological Sustainability
Ann Pettifor argues assets bank money banking system billion borrowing Bretton Woods Bretton Woods system capital capitalist carbon emissions cash central bank climate change CO2 emissions commercial banks commodity Contraction and Convergence cost countries create creation credit controls credit crunch Daly debt debt-based money democratic dollar Ebcu ecological economists energy environmental exchange finance sector financial architecture financial crisis financial system fractional reserve banking global economy global financial global trade gold Green Economics Green economists Green New Deal ibid important increase inflation interest rates international financial investment Ithaca Hours Karl Marx Keynes labour lending Lietaer loans London low-carbon Marx’s monetarism money issue money supply money system notes and coins paper peak oil pension funds Pettifor political production programme proposal rates of interest reserve currency Richard Douthwaite savings social society sustainable today’s triple crunch wealth