Picked up a London Zeitgeist
December 2025 › Forums › General discussion › The end of The Zeitgeist Movement? › Picked up a London Zeitgeist
November 6, 2011 at 9:10 am
#86684
Keymaster
Picked up a London Zeitgeist leaflet at the camp at St Pauls yesterday evening and was surprised to find that it criticised Monetary Reform which some of them are into (and which many at the camp certainly are). This is what it said:
Quote:
PRIMARY GLOBAL CHANGES NEEDEDThe Global Monetary SystemEven if reformed, the Monetary System is incapable of becoming the tool to build the kind of egalitarian emancipated societies we need in order to thrive. Why? Because going back to the gold standard, outlawing interest, letting governments distribute money debt free and such like, have logical merits, but the Monetary System, in whatever form, still maintains resource and equality imbalances and holds back our progress, while creating by its fundamental design, poverty and scarcity of basic needs. This is the underlying problem that needs to be served.Self InterestThe accepted motive of seeking competitive gain at the expense of others remains even in a reformed Monetary System. There may be less pressure if interest didn’t exist, but the scarcity of money would still exist. A Monetary System and scarcity of money are inseparable. This money scarcity, so prevalent today is the basis of corruption and would continue to be a gangrenous reality of business as usual. This is why it’s extremely difficult to “take the money out of politics” . We need to take monetary relations out of everything.Cyclical ConsumptionThis flawed economic doctrine would be present even in a reformed Monetary System. The raison d’etre of each corporation or commercial enterprise is PROFIT at all cost. Since repeat sales for so-called “growth” and profit is required for survival, the monetary system’s own logic demands increased consumption, spiralling debt and, worst of all, massive waste and inefficient use of resources as goods are made as cheaply as possible and discarded year upon year in favour of the marketing hyped “latest model”. This also re-enforces the belief of non-sustainability as an unavoidable “normality”.Technological UnemploymentThe lost jobs that are never coming back. When employers implement new productivity enhancing technology it often displaces labour, which can no longer be absorbed elsewhere. This mechanism will continue in a reformed Monetary System, with growing unemployment increasing the severity of the world socio/economic crisis. War and poverty are inevitable consequences of the Monetary/Market System economy profit at all costs doctrine, reformed or otherwise.
Ok, there are still limitations in their economic analysis from our point of view, but this is a great advance on some of the ideas some of them used to express on their now defunct global forum.Maybe there’s hope for them yet !
