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Bernard Lietaer and Stephen De Meulenaere
It is generally accepted that massive tourism and a vibrant indigenous culture are mutually exclusive. Bali has so far proven to be an exception to this rule. This article…
Abstract
It is generally accepted that massive tourism and a vibrant indigenous culture are mutually exclusive. Bali has so far proven to be an exception to this rule. This article explores a hitherto overlooked socio‐economic mechanism behind that exception. It is a dual complementary currency system used for centuries by highly decentralized and democratic decision‐making organizations. The reasons why such a dual currency system is so effective in mobilizing popular cultural creativity is investigated, and a systems framework is proposed to determine the conditions under which this model could be applicable outside of Bali. This framework is then tested with a second case study: traditional shell currencies in Papua New Guinea. Finally, some potential applications in areas in the world other than traditional cultures are portrayed.
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Syammon Jaffar, Adam Abdullah and Ahamed Kameel Mydin Meera
This paper aims to discuss the opinions of current Shariah scholars on the concept of debt money in the present-day fiat money system.
Abstract
Purpose
This paper aims to discuss the opinions of current Shariah scholars on the concept of debt money in the present-day fiat money system.
Design/methodology/approach
Research design of this paper is a quantitative investigation of Shariah experts by distributing a questionnaire to them. As majority of Shariah scholars are also Shariah advisory of the current banking system, it is important to find out their level of knowledge on the issue of debt money created by the commercial banking system through the fractional-reserve banking (FRB) system.
Findings
Based on this investigation, most Shariah scholars are unaware of and confused about the mechanics underpinning the creation of money, especially with respect to FRB as it is practiced by the conventional and Islamic banking systems.
Originality/value
Based on this research, it is recommended that these scholars should improve their understanding of the operation of the fiat money system and its consequences. It is recommended that, in future, Shariah scholars should think “outside of the box” by creating Islamic financial instruments that do not resemble those of the conventional system.
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Over the last 30 years, a range of different complementary currency models have been developed and diffused across the world. Such currency systems have been researched from a…
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Over the last 30 years, a range of different complementary currency models have been developed and diffused across the world. Such currency systems have been researched from a variety of different perspectives, such as policy tools (Williams et al., 2001) and social movements (North, 2006). Many of these have explicit links to sustainability objectives and the green movement (Helleiner, 2000; Longhurst & Seyfang, 2011; North, 2010a; Seyfang, 2009), and some environmental writers argue that monetary reform and the development of multiple currency systems are critical factors in achieving environmental sustainability (Douthwaite, 1999). This chapter explains how such a ‘green’ currency emerged from within the environmentally focused Transition Town social movement. This movement has given rise to a range of locally based grassroots enterprises that deliver local services and goods. However, it is argued here that such enterprises can also act as instigators of radical innovations, such as complementary currencies. As such it conceptualises currencies as a form of technology and uses the empirical case of the Totnes Pound currency as an example of a technology that has emerged from civil society. Adopting this framing, the chapter draws on theory relating to the formation of innovative technological ‘niches’ to provide insights into the challenges that they have to overcome in order to survive and flourish. The chapter therefore argues that exploring complementary currencies through the lens of innovation theory can provide valuable insights into their development, and that such an approach may prove useful where grassroots enterprises are engaged in other forms of innovative activity.
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Images and ideals of organization design have changed dramatically in the past decade in response to the need for a redirection in the purpose and strategy as well as leadership…
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Images and ideals of organization design have changed dramatically in the past decade in response to the need for a redirection in the purpose and strategy as well as leadership styles following the global economy, new brave networked world, emerging new forms of organizing, and social innovations. This chapter is an invitation to explore a new genre of organization design and organizing as if life matters. It is a call to embrace organizations designed to affirm, nurture, and sustain life. The chapter discusses two key questions: “What Gives Life to Human Organizing” and “What Are We Designing.” The first part aims to uncover what gives life to human organizing through an exploration of nine principles of appreciative organizing. The second part aims to expand what we mean when we talk about organization design through an examination of six fundamental structures that seem to be at play in organized action.
The purpose of this editorial is to examine fiat currencies and common tenders (trade‐based money) from a risk perspective. The editorial encourages risk managers to consider the…
Abstract
Purpose
The purpose of this editorial is to examine fiat currencies and common tenders (trade‐based money) from a risk perspective. The editorial encourages risk managers to consider the distributive benefits of a multiplicity of currencies and urges them to examine common tenders both old, such as the Swiss WIR, and novel, such as capacity exchange monies, as risk management tools.
Design/methodology/approach
The editorial is based on research conducted for the City of London Corporation in 2011 into capacity, trade and credit which examined new architectures for commerce and money.
Findings
The editorial links Freiwirtschaft movement ideas with some characteristics of common tenders. Further, it considers whether some simple regulatory approaches might make such common tenders more useful.
Originality/value
Of note, the author suggests that a modern alternative to government regulation might be an audited ISO accreditation standard for “good currency” or “good common tender”.