In the September issue of Associate! we look at the idea of a single world currency. We do so from an associative point of view and begin with a stage-setting piece by Rudolf Steiner, which sets out the overall problem as he sees it. In essence once we grasp clearly the one-world nature of modern economic life, our very thinking will lead us to solutions to our problems. In particular, in world economy what are normally called the three functions of money become three kinds of money, the dynamics between which then replace the role formerly played by the balance of payments between countries.
With allusion to the true founder of economics, this month’s Sign of Our Time considers the Greek financial crisis from an associative point of view. Crucial in all this is the need to distinguish between a world currency in the sense of an economic money that everyone will use, and a fiat world currency, issued by a world central bank. In an associative world economy, while the national currencies could continue to be used as ‘local’ denominations, there is no place for state-issued money, let alone for a world government!
In Trinity or Trilemma, space is then devoted to a montage of thoughts that suggests that Rudolf Steiner’s monetary trinity and John Maynard Keynes International Clearing Union are reflections of one another, lost to view only because of an apparent intellectual laziness on the part of economists.
The AEX page carries some of the recent discussion about modern money draws attention to a youth project in Argentina concerning world money in order to illustrate how the freshness of youth can not only understand the problems of our time, but also create deeds that remedy them.
Accounting Corner reminds us that the IAS project for universal accounting is already a form of global currency.
