5. Rauna Kuokkanen, “The Logic of the Gift: Reclaiming Indigenous Peoples’ Philosophies,” The Australian Journal of Indigenous Education 34 (2005): 251–71.
6. See, for instance, the anthology, ed. Genevieve Vaughan, Women and the Gift Economy: A Radically Different Worldview Is Possible (Toronto: Inanna Publications and Education, 2007).
7. Barbara A. Mann, “Euro-forming the Data,” in Bruce E. Johansen, Debating Democracy (Clear Light Publishers, 1998): 160–90.
8. Barbara Alice Mann, “Blood and Breath,” in Toward 2012: Perspectives on the Next Age, eds. Daniel Pinchbeck and Ken Jordan (New York: Penguin Group, 2008): 97–109. See, also, my scholarly discussion of this issue in Barbara Alice Mann, Native Americans, Archaeologists, and the Mounds (New York: Lang Publishers, 2003): 169–238.
9. Fractals were so named by Benoit Mandelbrot, who first published his fractal math as Les objets fractals, forme, hasard et dimension in 1975. The English translation came in 1977 as Fractals: Form, Chance and Dimension (San Francisco: Freeman, 1977).
10. The date came from Sganyadaiyoh, (“Handsome Lake”) called “The Seneca Prophet,” by Westerners. Sganyadaiyoh was actually his position title as a lineage chief of the Senecas, even as “Congresswoman, Ninth Congressional District,” is the position title of Marcy Kaptur (my Congressional Representative). The 2010 date from the particular Sganyadaiyoh who uttered it in the early nineteenth century was recorded by Arthur Parker, a descendant of his through the male line, which, by the way, is not how the Iroquois count descent. Arthur C. Parker, Red Jacket: Last of the Seneca (New York: McGraw-Hill, 1952): 143.
11. Arthur Caswell Parker, “The Constitution of the Five Nations, or the Iroquois Book of the Great Law,” New York State Museum Bulletin 184 (April 1916): 103–104. Some say that the allusion to “west” prophesied Removal; others see it as an allusion to the direction of death. Both are right, of course.
12. This is a prophecy common to all eastern woodlanders. I have seen it written down from eighteenth-century sources in John Heckewelder, The History, Manners, and Customs of the Indian Nations Who Once Inhabited Pennsylvania and the Neighboring States, The First American Frontier Series (1820; 1876, reprint; New York: Arno Press and The New York Times, 1971), 345.
CHAPTER 9
1. Luc Laevan and Fabian Valencia, “Resolution of Banking Crises: The Good, the Bad, and the Ugly,” IMF Working Paper 10/146 (Washington: International Monetary Fund, 2010). www.imf.org/external/pubs/ft/wp/2010/wp10146.pdf.
2. The “Great Depression” (with capital letters) was the title of a book published by Lionel Robbins in 1934, but it became part of the general political economic vocabulary only after that black period was safely behind us. Specifically, Harry Truman used the expression in 1952, to lambast the Republicans for “having brought on the Great Depression.”
3. The Economist (October 11, 2008): 13.
4. This expression was first coined by Schumpeter.
5. Central banks will encourage low short-term interest rates and higher longer-term ones, which makes it possible for banks to borrow at low cost from customers and the markets, and invest in long-term government bonds. This was done for instance in the U.S. during the late 1980s during the Savings & Loan debacle, and it worked as planned. It enabled the banks to rebuild their balance sheets. Notice that such a use of funds doesn’t do much to motivate banks to lend to the business sector, and thereby alleviate the “second wave” effect. Furthermore, even this relatively “mild” crisis (representing a bailout of 3.7 percent of GNP) took more than six years to be absorbed.
6. Statistic from a 2009 Report by special inspector general Neil Barofsky to the U.S. Congress, which takes into account about fifty initiatives and programs set up since 2007 by the Bush and Obama administrations as well as by the Federal Reserve. This $4.6 trillion amount was actually disbursed, while the estimate of potential costs based on various guarantees could reach over $23 trillion.
7. www.bloomberg.com/apps/data?pid=avimage&iid=i0YrUuvkygWs.
8. Nomi Prins, It Takes a Pillage: Behind the Bailouts, Bonuses, and Backroom Deals from Washington to Wall Street (New York: Wiley, 2009).
9. www.ritholtz.com/blog/2008/11/big-bailouts-bigger-bucks.
10. See the classics in this domain, such as Charles Kindleberger, Manias, Panics and Crashes: A History of Financial Crises (New York: Wiley, 1996, 1978).
11. See, for instance, James K. Galbraith, “A Bailout We Don’t Need,” Washington Post (September 25, 2008): A19; Ken Silverstein, “Six Questions for James Galbraith on the Financial Crisis and the Bailout,” Harper’s Magazine (November 2008).
12. The leverage ratio is total assets/capital, which is the inverse of capital/assets ratio. The estimates for the capital to asset ratios are respectively 2.4 percent for Barclays, 2.1 percent for UBS and 1.2 percent for Deutsche Bank, according to the Economist (September 27, 2008): 84. See also “Briefing” in Trends-Tendances (October 2, 2008): 17.
13. Michael Macenzie and John Authers, “The Week that Panic Stalked the Markets,” Financial Times (October 11/12, 2008): 2.
14. The current modus operandi provides a hidden permanent subsidy to the banking system through seignoriage. Huber and Robertson estimated this yearly subsidy to the banking system at 49 billion pounds for the UK; $114 billion per year for the U.S.; 160 billion euros for the Euro zone; and 17.4 trillion yen for Japan. These benefits would accrue to the governments in the case of nationalization of the money creation process. For further details, see J. Huber and J. Robertson, Creating New Money: A Monetary Reform for the Information Age (London: New Economic Foundation.2000), 79–84.
15. Modern energy concepts and flow analyses were actually formally applied to economics as early as 1951, by Nobel laureate Wassili Leontief with his input-output analyses, modeling the flow of goods and value in economic systems (Leontief, 1951). Ecologists then applied these same flow concepts and analyses to ecosystems, only to have economists later reapply these enhanced energy understandings to economics. Odum (1971, 1984), Hannon (1973), and Costanza (1980), for example, have all used thermodynamics and flow-network analysis as the basis for understanding the activities in both economic and ecosystem networks; and Georgescu-Roegen (1971) developed an entire thermodynamic foundation for economics.
16. Kenneth Boulding, Evolutionary Economics, Beverly Hills, CA: Sage Publications, 1981. The misclassification of economics as a system in equilibrium is skillfully explained in E. Beinhocker, The Origin of Wealth: Evolution, Complexity, and the Radical Remaking of Economics (Waterton, MA: Harvard Business School Press, 2006), chapters 2 and 3. George Soros has explained the internal dynamics of why financial markets are not moving toward equilibrium in The Alchemy of Finance (London: Weidenfeld and Nicolson, 1988.)
17. See, for example, P. Cvitanovic, introduction to Universality in Chaos, (Bristol, UK: Adam Hilger, 1984); M. Eigen & P. Schuster, The Hypercycle: A Principle of Natural Self-Organization (Springer Verlag, 1979); M. Estep, A Theory of Immediate Awareness: Self-Organization and Adaptation in Natural Intelligence (Kluwer Academic Publishers, 2003) and Self-Organizing Natural Intelligence: Issues of Knowing, Meaning, and Complexity (Springer-Verlagm, 2006); F. Dressler, Self-Organization in Sensor and Actor Networks (New York: Wiley & Sons, 2007).
18. Sally Goerner, After the Clockwork Universe: the Emerging Science and Culture of Integral Society (Edinburgh: Floris Books, 1999); P. Cvitanovic, introduction to Universality in Chaos (Bristol, UK: Adam Hilger, 1984).
19. R. M. May, “Will a Large Complex System Be Stable?” Nature 238 (1972): 413–14.
20. C. S. Holling, “Resilience and the Stability of Ecological Systems,” Annual Review of Ecology and Systematics 4 (1973): 1–23; C. S. Holling, “Engineering Resilience Versus Ecological Resilience” in P. Schulze, ed., Engineering within Ecological Constraints (Washington, DC: National Academy Press, 1996), 31–44; B. H. Walker et al., “Exploring Resilience in Social Ecological Systems Through Comparative Studies an
d Theory Development: Introduction to the Special Issue,” Ecology and Society 11:1 (2006): 12.
21. Edgar Cahn, No More Throw Away People (Washington, DC: Essential Books, 2004).
22. James Stodder, “Corporate Barter and Economic Stabilization,” International Journal of Community Currency Research 2 (1998); James Stodder, “Reciprocal Exchange Networks: Implications for Macroeconomic Stability,” Albuquerque, New Mexico: Conference Proceedings, International Electronic and Electrical Engineering (IEEE), Engineering Management Society (EMS), 2000.
23. Open Source means that the source code of the software is publicly available, making it possible for users to adapt the system to their own requirements. Specific parts of the C3 methodology are protected by a patent, but the conditions to get user licence are transparency and monitoring procedures to guarantee fair treatment of the network participants, as well as a small contribution to fund the spreading of such systems. This generates the benefit of additional spending opportunities for any C3 network. More information via [email protected].
24. James Doran, “America’s Latest Export: Empty Municipal Coffers,” The Observer (Oct. 12, 2008): 8.
CHAPTER 12
1. Andrei Codrescu, Zombification: Stories from National Public Radio (New York: Picador, 1994), 101.
CHAPTER 16
1. This chapter originated as a talk given at Cooper Union in New York City, April 25, 2002.
CHAPTER 21
1. http://freedocumentaries.org/film.php?id=152 (accessed 18 April 2011).
2. It would be more appropriate to refer to this as “holonocentric,” a word coined by systems theorist Richard Bawden, after Arthur Koestler’s concept of the “holon.” Holons are systems nested within larger systems. Each holon is both a whole and a part of a whole. Holistic implies “whole centered” whereas “holonocentric” implies “centered on wholes that are part of larger wholes,” which is more apt.
3. James Lovelock, The Revenge of Gaia (London: Allen Lane, 2006).
4. Hardin Tibbs, “Humane Ecostructure,” Whole Earth Review (Summer 1998): 63–65.
5. Christopher Day, with Rosie Parnell, Consensus Design (Oxford: Architectural Press, 2003); Brian Goodwin, Nature’s Due (Edinburgh: Floris Books, 2007).
6. Hardin Tibbs, Industrial Ecology: A New Agenda for Industry (Cambridge, MA: ADL, 1991).
7. Roger Martin, The Opposable Mind (Waterton, MA: Harvard Business School Press, 2007).
CHAPTER 22
1. Charles Walters, Unforgiven: The American Economic System Sold for Debt and War (Austin: Acres, USA, 1971, 2003).
2. Stephen Zarlenga, The Lost Science of Money (Chicago: The American Monetary Institute, 2002).
3. Lester Brown, Plan B 2.0: Rescuing a Planet Under Stress and a Civilization in Trouble (New York: W.W. Norton & Company, 2006).
CHAPTER 23
1. For more information, see my book The Quantum Doctor: A Physicist’s Guide to Health and Healing (Charlottesville: Hampton Roads, 2004).
CONTRIBUTORS
STEVE BHAERMAN is an internationally known author, humorist, and workshop leader. For the past twenty-five years he has written and performed as Swami Beyondananda, the “Cosmic Comic.” As the Swami, Steve is the author of Driving Your Own Karma, Duck Soup for the Soul, and other books. In 1980, Steve cofounded Pathways Magazine in Ann Arbor, Michigan, one of the first publications bringing together holistic health, personal growth, spirituality, and politics. His latest book, written with cellular biologist Bruce H. Lipton, PhD, is Spontaneous Evolution: Our Positive Future and a Way to Get There From Here. Steve can be found online at www.wakeuplaughing.com.
JEFF DICKEN is a Baltimore native and a graduate of City College and Northwestern University. A big-picture idealist with a background in film production and IT systems development, he has always been interested in the dynamics of economic systems. Jeff is now Director of Baltimore Green Currency Association, administrator of Baltimore’s local currency, the BNote.
CHARLES EISENSTEIN is a speaker, Goddard College faculty member, and the author of The Ascent of Humanity and other books. His latest book is Sacred Economics: Money, Gift, and Society in the Age of Transition.
SHARON GANNON is the cocreator, with David Life, of the Jivamukti Yoga Method. A student of Brahmananda Sarasvati, Swami Nirmalananda, and Pattabhi Jois, she is a pioneer in teaching yoga as spiritual activism and is credited for making yoga cool and hip, relating ancient teachings of yoga to the modern world. Sharon is the author of several books, including Jivamukti Yoga and Yoga & Vegetarianism. Her writing has appeared in numerous publications including Toward 2012, Semiotexte and Yoga Journal. She writes a monthly essay called “Focus of the Month,” which can be read at www.jivamuktiyoga.com.
SALLY GOERNER is the director and cofounder of the Integral Science Institute, a nonprofit research and educational center dedicated to developing the applications of Integral Science for human systems fields such as education, business, medicine, economics, and sustainability. She has lectured extensively throughout Europe, the United States, and Japan and is on the scientific advisory council of the European Academy of Evolution Research (Berlin). She has authored over fifty articles and several books, including After the Clockwork Universe: The Emerging Science and Culture of Integral Society and The New Science of Sustainability: Building a Foundation for Great Change.
AMIT GOSWAMI’s life work has been to successfully integrate science and spirituality, applying the principles of quantum physics to prove that consciousness, not matter, is the foundation of all being. He is the author of numerous books, including The Self-Aware Universe, God Is Not Dead: What Quantum Physics Tells Us about Our Origins and How We Should Live, and How Quantum Activism can Save Civilization. He has appeared in the movie What the Bleep do we Know? and the documentary The Quantum Activist.
THOMAS H. GRECO, JR., is a writer, networker, and consultant, specializing in cashless exchange systems and community economic development. A former engineer, entrepreneur, and tenured college professor, he is widely regarded as a leading authority on freemarket approaches to monetary and financial innovation, and is a sought-after advisor and speaker at conferences internationally. He is the director of the Community Information Resource Center, a U.S. nonprofit networking hub that provides information access and developmental support for efforts in community improvement, social justice, and sustainability. He is the author of many articles and books, including The End of Money and the Future of Civilization, Money: Understanding and Creating Alternatives to Legal Tender, New Money for Healthy Communities, and Money and Debt: a Solution to the Global Crisis. Greco’s blog, www.beyondmoney.net, and his website, www.reinventingmoney.com, offer a wealth of information on the interplay of money, finance, economics, and democracy, and provide detailed explanations and prescriptions for communities, businesses, and governments.
JOHN MICHAEL GREER is a certified Master Conserver, organic gardener, and scholar of ecological history. The current Grand Archdruid of the Ancient Order of Druids in America (AODA), his widely cited blog The Archdruid Report (www.thearchdruidreport.blogspot.com) deals with peak oil, among other issues. He lives in Ashland, Oregon.
Born in 1948, LARRY HARVEY grew up on a small farm on the outskirts of Portland, Oregon. In the late 1970s he moved to San Francisco, and soon discovered the city’s thriving underground art scene. In 1986 he founded Burning Man at a local beach, and has guided its progress ever since; he is currently executive director of the project and serves as chairman of Burning Man’s senior staff and Black Rock City LLC, its executive committee.
KEN JORDAN is publisher and executive producer of Reality Sandwich and Evolver.net. He has been an online pioneer since leading the 1995 launch of the award-winning SonicNet.com, the web’s first multimedia music zine and digital music store, which later became a property of MTV. As a consultant for start-ups, NGOs and foundations, his clients included: Amnesty International, WITNESS, the New England Foundation for the Arts, Ford Fou
ndation, Rockefeller Foundation, and the Democrats in Congress. He is coauthor of the influential white paper “The Augmented Social Network: Building Identity and Trust into the Next-Generation Internet;” and is coeditor of the anthologies Multimedia: From Wagner to Virtual Reality (W.W. Norton, 2001) and Toward 2012: Perspectives on the Next Age (Tarcher/Penguin, 2009). Ken collaborated with the legendary playwright and director Richard Foreman on Unbalancing Acts: Foundations for a Theater (Pantheon, 1992). He has written for Wired, Paris Review, Index, and First Monday, among other publications.
ANYA KAMENETZ tells stories about change. She is a journalist, nationally syndicated columnist, and author of Generation Debt and DIY U. She blogs at www.DIYUBook.com and Twitters at Anyananya.
BERNARD LIETAER has been active in the domain of money systems for the past thirty years in an unusual variety of functions. He is currently a research fellow at the Center for Sustainable Resources of the University of California at Berkeley. While at the Central Bank in Belgium he was responsible for the implementation of the convergence mechanism (ECU) to the single European currency system and also served as president of Belgium’s Electronic Payment System. He was cofounder, general manager, and chief currency trader for the Gaia Hedge Funds, one of the world’s largest offshore trading funds, during which time Business Week identified him as “the world’s top currency trader” in 1990. He is the author of fourteen books, including The Future of Money, which has been translated into eighteen languages. More information about the author, as well as his technical papers, are available at www.lietaer.com.
As an educator, journalist, and media producer, ANTONIO LÓPEZ seeks to bridge worlds—mental, cultural, ecological, and technological. López has worked in grassroots media for over twenty years and writes nationally for newspapers and magazine on issues concerning cultural diversity, arts, youth, media, and music. He is the author of Mediacology: A Multicultural Approach to Media Literacy in the 21st Century (http://mediacology.com).
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