Summary of The Big Shift: Rethinking Money, Tax, Welfare and Governance for the Next Economic System

The Big Shift: Rethinking Money, Tax, Welfare and Governance for the Next Economic System by Deirdre Kent

This important little book is a very dense read. The current growth-dependent economic system is not only broken must be completely replaced with a new paradigm.

This is now critical. Conventional oil peaked in 2005 and unconventional oil peaked in 2015. It takes energy to extract energy so the global net energy is inexorable decline. Therefore the economy can’t grow with less energy from fossil fuels to drive it. Therefore the economy can’t grow without more and more debt.

Based on the discussions of the New Economics Party of 2011-2015 to develop policy, the author argues that neither monetary reform nor tax reform are possible at central government level as the banks are too powerful these days. A change from an intrusive welfare system to a basic income should come from sharing the rents from land, natural resources and natural monopolies.

To design an economic system to serve the planet in a post fossil fuel age requires new thinking on money design, land tenure and governance. Examples from history are used as evidence of stable and prosperous societies using these principles.

This leads to the conclusion that very local government should assume powers of money creation, land purchase and rule-making about taxes for trades in that new currency.

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Trapped in Wellington due to fog

So great plans to get to Lyttelton early didn’t work out because of the fog at the airport, in fact fog all over Wellington, most unusual. Lots of people going to the Expo are similarly trapped, some going tomorrow and some the day after. Here is the programme. I don’t get there till Friday now.

That gives me an extra day to practise my talk and work on this website.

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Off to the Living Economies Expo

This next weekend I will be presenting at the Lyttelton Living Economies Expo. I have a 35 min powerpoint to illustrate and summarise my book.

I am taking down books where there will be a special Expo price. From then on the book will be sold by Helen Dew.  It will  available from the Living Economies website shop.livingeconomies.nz

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