The Beginnings of a New Economy

Source: Paul Mason, “The End of Capitalism has Begun” in The Guardian, July 17, 2o15

Excerpt:

In Greece, when a grassroots NGO mapped the country’s food co-ops, alternative producers, parallel currencies and local exchange systems they found more than 70 substantive projects and hundreds of smaller initiatives ranging from squats to carpools to free kindergartens.

To mainstream economics such things seem barely to qualify as economic activity – but that’s the point. They exist because they trade, however haltingly and inefficiently, in the currency of post-capitalism: free time, networked activity and free stuff. It seems a meagre and unofficial and even dangerous thing from which to craft an entire alternative to a global system, but so did money and credit in the age of Edward III.

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3 responses to “The Beginnings of a New Economy

  1. Guys, you really do have to put in hyperlinks to the original piece.

  2. mike holliday

    Not sure what Ted 3 has to do with the introduction of money and credit – I think those concepts were well and truly developed by earlier peoples – including the Chinese, Persians, Greeks and Romans.

  3. Elisabeth Ecker

    The problem with this economy is, that no taxes are paid. How will be services paid for? The price of a democracy is paying taxes