This is an open submission for Wikimania 2011.
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Changes in monetary and financial system in the last 40 years have leaded us to a new situation with new possibilities. The aim of this panel is to explore these possibilities.
There have been two relevant amendments in monetary and financial system. The first one took place in 1971, when the world, leaded by the USA, left the gold standard behind. Since then, money is not linked to any worldly merchandise and it is only supported by confidence. The second change is the supremacy of digital money, which means the ultimate dematerialization of money. With (almost) no more material money in the world, the monetary and financial system has turned, basically, into a technology system to keep track of what we own or owe one another.
Then, why is money different from any other online collaboration system with a strong network effect, such as social networks or Wikipedia?
The second question is: What could people win if money could be such a system and people were free to use it?
And the third is: How should this system work?
To discuss about these questions, it will be necessary to analyse the role of Power in Economics, which has been seriously neglected with a few exceptions. The first invitee to this panel is a university professor who wrote a thesis about it in 1993.
I will explain my own views about these questions. My book entitled “Nothing is lost” will be published by the time this congress takes place. I propose in it an alternative and healthy monetary and financial system based on a dynamic monetary theory founded on digital money, that advocates for Public Financial Sovereignty.
Other relevant participants to the panel will be invited if the activity is approved and participation of the public will be welcome.
The devastating financial crisis the world is going through since 2008 is a clear sign that something is profoundly wrong in the monetary and financial organization that leads the world, and it is important to explore alternatives. Because there certainly are alternatives.
- Track (People and Community/Knowledge and Collaboration/Infrastructure)
People and community - How will the wiki technology change the world in the future?
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