In our world of mounting global emergencies, as we witness the accelerating destruction of resources and loss of species, the greatest resource of all is being left to waste.
Today, more than 200 million persons are unemployed because of an inequitable distribution of wealth, with the richest 85 persons controlling as much wealth as the poorest 3.5 billion.
But how has this come about, and why are our global leaders failing to enact real solutions?
The dynamic underlying the current disastrous direction of resource development is that our global marketplace tends to deliver monetary profit to global competitors that is inversely proportional to their stake in local and global sustainability. This is because survival in the global marketplace depends on competitive pricing, compelling traders to minimize local costs in able to maximize profits globally.
All resources in the marketplace, including money, flow to the highest bidders, while the work flows to the lowest bidders, trapping everyone in an ever-widening wealth gap. And this wealth gap multiplies the difficulty of engaging in sustainable development because global marketers grow increasingly dependent on supplies from communities that cannot afford to responsibly steward their own resources.
Lack of money is a profound cause of poverty, not merely a definition, because money is generally required to develop essential resources. Local access to a continuous supply of money and energy can not only put food on the table tonight but can empower individuals to nurture and protect the people they love and the ground beneath their feet, producing continuous access to all essential commodities.
Communities that prosper through trade within their own genuine local marketplaces can enjoy this triple-bottom-line economy, which cares for the people and the planet as well as the profit. This is because local societal and environmental sustainability are essential to the commercial sustainability of for-profit businesses when they develop local essential goods and services for local consumption.
Our task now is to re-empower this sustainable, local dynamic without sacrificing the benefits of our global marketplace. Reconomy accomplishes this by compensating persons with local credit for helping to build prosperous and sustainable communities.
The three key components of Reconomy:
-- We use no money in Reconomy's marketplaces. Instead we credit and track the value of goods and services traded. Consequently, no one needs money to participate, bringing us closer to the end of hunger and extreme poverty. And no value can be extracted from our marketplaces as money for export, resulting in greater profit through sustainable development.
-- We create community credit to fund sustainable development of community resources. In contrast, the private global banking system creates money to lend to the highest bidder, deepening the wealth gap between rich and poor, and increasing the pressure to extract value irresponsibly.
-- We back the value of community credit with the community resources created, and we significantly reduce the price of a single vital resource, such as energy, food, or water, when traded for community credit. This creates a demand for the credit, motivating and empowering the development of all human and natural resources.
Reconomy's credit-tracking marketplaces work right beside national money, rather than replacing national money. Thus, access to global products and services is increased because prosperous, sustainable communities are the best suppliers and customers. And a world filled with prosperous, sustainable communities will be a prosperous, sustainable world.
How To Get There From Here
Reconomy Global Timebank
Reconomy begins with our Global Timebank, which is our global network of mutual support. Here persons earn credit through hour-for-hour trade of knowledge and skill, and for service to the global community by joining, growing, and stewarding this new global marketplace, and for helping launch and grow Reconomy Community Marketplaces where local goods as well as services are traded.
In our Global Timebank and in our Community Marketplaces, we pay-forward the knowledge and skills we acquire. This provides an immediate and continuous opportunity to every person to earn by learning and teaching, as we trade a resource that increases with each transaction. And Reconomy's marketplaces provide us the option to either trade our time with each other or donate our credit to the community commons. This option multiplies our opportunities to share, making our living catalogue of knowledge an ultimate crowdsourcing tool for building the world of the future.
We create our Community Marketplaces through scaling our Timebank trading platform to local and virtual communities, using our same credit-tracking strategy. As with our Timebank, in these independent community systems we're credited for building our community commons of essential human and natural resources, but here we earn additional credit through trading goods as well as services. And instead of measuring our credit in hours, the value of credit in our Community Marketplaces is measured in national currency to allow these trading platforms to work in communities right alongside the global marketplace.
People Power Stations
Our People Power Stations help accomplish this transformation in local communities through the use of our SunMoney strategy -- our innovation of discounting energy when traded for credit issued to develop the energy. This discount produces a demand for both the local credit and for the local energy, stimulating continuous development of local resources to produce local goods and services for local consumption, and impelling and empowering responsible stewardship.
One Bicycle per Person
To reach the poorest of the poor, our People Power Stations begin with pedal-power to provide employment generating electricity for LED lamps to replace kerosene, and to provide transportation for access to the resources required for building sustainable community. And through small payments added to the cost of recharging lamps and through our Work-To-Own strategy, persons have fast access to both the lamps and the bicycles.
Building Resilience through Self-Reliance
The Reconomy strategy can provide energy, water, food, sanitation, education, housing, local transportation, child care, elder care, art, and more - everything that can be accomplished with local human and natural resources when communities have continuous access to money, energy, and a global network of mutual support. And this strategy produces a synergy between economic and ecological systems: local economic and renewable energy resources grow sustainable community, and growth of sustainable community builds demand for sustainable development of local resources. The result is increasingly self-reliant and prosperous local marketplaces that enjoy resilience against global exploitation and crises, enabling full and sustainable participation in the global marketplace.
Building the World of the Future
The complementary use of national money with community credit combines the best feature of the open global marketplace, which is access to the advances of global civilization, with the best feature of closed local marketplaces, which is protection of local human and natural resources. Thus, rather than isolating local communities, Reconomy maximizes the potential for sustainable trade between local and global marketplaces. And rather than training persons to be interchangeable within a monolithic system, Reconomy favors our unique abilities because it removes the necessity for individuals to compete with the entire world. Together, we can unleash the creative power of the free marketplace, building resilient communities founded on the intrinsic worth of individuals and rooted in local control of vital resources. Reconomy can work now almost anywhere, helping to bring us all to the full realization of our potential.
In the future, each of us will have all the energy, money and support we need to pursue our dreams for our ourselves and the worlds we share.