This paper explores the recent evolution of money and banking, in the wake of the financial crisis, and its implication for the global economy and society. In particular, the paper considers whether or not these developments are leading to a more stable and sustainable capitalist financial order. Three broad approaches to monetary reform are considered, that target usury, debt and crisis respectively, and it is concluded that the global dependence on mono-currency systems is ignored by all three. Drawing on Marx, Hayek and Lietaer it is further posited that the facilitation of currency diversity, especially in the midst of an information age, is an extremely important policy prerequisite for a future stable and sustainable capitalist system.
|Number of pages
|International Journal of Community Currency Research
|Published - 29 May 2012