My journey into democracy began when Prof. Dr. Margrit Kennedy gave me five booklets (in German) by the Japanese author Yoshito Otani. They were published in 1978 and covered land, capitalism, money, marxism and democracy. My conclusion was that we may have political but certainly don’t have economic democracy.
Since then I learned more and more about the creation of money and the money supply which is not taught in economics, however. In fact, I know a student who had serious problems at the London School of Economics when she wanted to write her PhD on the subject.
As the organiser of the Forum for Stable Currencies, I attended a seminar of the Environmental Law Foundation on the legal and economic challenge of climate change. There I met a ‘campaigning lawyer’ who used to work for Friends of the Earth. For him I wrote “Sovereignty & Seignorage” as the UK legal framework to match “Contraction & Convergence” as the global framework for climate change.
Both boil down to using per head metrics rather than GDP and inflation. These I discovered to be very flawed indeed after having visited the on-line data bases of the Bank of England, the Treasury and the Office of National Statistics.
The results of our legal advice were:
Ø letters to the Bank of England under the Freedom of Information Act,
Ø the recommendation to go for ‘parliamentary scrutiny’ via the Treasury Select Committee
Ø and the formulation of our objective: to change the cash : credit ratio in the UK money supply.
Thus I was well equipped when the Treasury Select Committee launched its inquiry into climate change and the Stern review.
Then I found out that there were over 30 submissions, that the Committee members may or may not receive a personal copy and, in any case, it would be in black and white. Hence our Chairman, Austin Mitchell MP, sent individual copies so that the charts can be seen in colour. I also handed a personal copy to the Chairman John McFall MP and attended four meetings to watch parliamentary scrutiny in action.
Now I am waiting to see whether the Committee will respond to our request for an oral hearing and whether our submission will be published. Previously, I made three submissions to the Economic Affairs Committee of the House of Lords. The first was published on paper, the second on CD and the third not at all!
To raise awareness among everybody who wants to make a difference but is unaware of our issue, I created this site with
Ø a one-page wake-up call
Ø Austin Mitchell MP’s passionate cover letter
Ø The 4-page executive summary with recommendations for action
Ø And the full 17-page submission.
It so happens that my ‘3d metric‘ software methods offer solutions to complex systems such as the ones that society needs to address now. Hence I am keen to find those people in Government who would benefit from them for their analysis. For they make correlations visible and quantifiable that can not be shown with conventional graphs and charts.
Will climate change offer us a road to economic democracy?