An interview of Dan O'Neill, lecturer in ecological economics at the
University of Leeds (UK), and the chief economist at the Center
for the Advancement of the Steady State Economy (CASSE,
USA), recorded during the International Conference "An innovative society for the XXI century" held at Paris on July 12 & 13.
Dan reminds that there is not one change that we can make to allow us to achieve an economy without growth, but a number of things which have to come together.
This is the point that came out from a conference held in Leeds in 2010 on that topic : we need to make changes in a number of areas (to stabilize ressources, to reduce inequalities, to reform the financial system, to reduce working hours, etc.).
Dan O'Neill insists on the problem we have at the moment : the fact that most of our money is created by private banks in the form of loans.
When banks make loan, they create : an asset ("the money I am going to pay them back in the future") and a liability ("the money which the have given to me"). As long as these cancel each other out, the system can work. But the problem comes when one is not working, driving inflation and economic instability.
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