Creating local currencies to handle the global crisis

• Bernard LIETAER
  Research Fellow, University of California, Berkeley
  Former senior civil servant, National Bank of Belgium
  Monetary architect who helped create the ECU
  Author of the book Monnaies régionales : des nouvelles voies vers une prospérité durable (Charles Léopold Mayer, 2008)
  

Summary

The banking and financial crisis has been in the headlines for months. Why is this crisis more serious than others before it ? Where did the system go wrong ? Why are conventional solutions (such as lowering interest rates, bailing out the banks and Keynesian reflation) inadequate ? We know that this crisis comes at the same time as other unprecedented global challenges such as climate change, the economic effects of ageing populations, and technological change which separates growth from employment. What monetary innovations are available today to resolve these challenges structurally, and transform this crisis into an opportunity ? What can governments, companies and citizens do to avoid being drawn into the banking collapse ? These and many other questions were discussed during this talk.

Summary translated from French by Rachel MARLIN.

• The entire article was written by Yves DOUGIN.

To obtain this article, you can :

• download it for free in French (PDF help) or contact ecopar@paris.ensmp.fr (Reference EV130509).

The entire article appears in French in the Journal de l'École de Paris du management N° 80.