Financing The Future

3 Part YSI Webinar Series

June 2021 - August 2021

Extractive monetary systems cannot sustain us. Is it possible to redesign money to better suit us all?

Webinar Series

Description

When money creation is an extractive practice, how do 8 Billion people receive their fair share?

This 3 part webinar series will examine the process of adding new money to fiat producing economies. Viewers will be introduced to the concept of Currency Plurality with Dr. Georgina M. Gomez, editor of the collective volume "Monetary Plurality in Local, Regional, and Global Economies." Traditional fiat systems rely on unending growth to sustain the value of their currencies, but this has created a system of extraction where wealth flows out of 1 population, or country, and into another. As our world grows ever more connected, the likelihood that this method can sustain us is rapidly diminishing, and new solutions may come from past traditions in issuing complementary currencies for the needs of the modern world.

Following this, Prof. James A. Robinson (co-author of "Why Nations Fail" and "The Narrow Corridor") will take on on a crash course in inclusive/exclusive institutions and reveal how extractive institutions find their way into our society, and the longterm dangers they pose to our civilizations. This talk will be supplemented with excerpts from "A History of Banking in the United States" by Murray N. Rothbard, where we will examine the origins of the US Dollar and its history of exclusion and economic imperialism. Building on the previous discussion of currency plurality, the session will end with a discussion on how we might be able to build a complementary global currency that would fit the mold of an "inclusive institution."

The final session will conclude with Distinguished Fellow of the Asia Global Institute, Andrew Sheng, who will provide a commentary of the effects caused by our antiquated method treating our modern problems. The systems that have brought us to where we are rely heavily on consumption, inequality, and do not fit our needs. If our species is to endure prosperously, what must change? Host Michael Cosh will then present his project "The Human Capital Network" as a potential solution: engineering a global complementary currency based on inclusive and accessible principles. The concepts presented will then be assessed by Mr. Sheng, and the audience, to see if we as an academic collective can take what we've learned and design a better means of Financing The Future.

This is a open discussion between the YSI community, and we invite everyone to submit your questions and concerns in text-chat during each session. The final fifteen minutes of each webinar will be dedicated to answering/addressing community questions and concerns.

UPCOMING EVENTS

There are no upcoming events in this project.

PAST EVENTS

Online

14 Jul 2021

Webinar

Currency Plurality, is it possible? - Dr. Georgina M. Gomez

In this opening session we begin with the foundation of all things financial: money. While money has provided an excellent means of expediting trade, there are many flaws in its foundation, mainly a system of repayment that relies on the expansion of empires and wealth that can be extracted (classically national, modernly corporate). Dr. Gomez will present us with the collected volume “Monetary Plurality in Local, Regional and Global Economies" where we will discuss the concepts of currency plurality, and how currencies can be created to complement overlooked needs within a fiat economy. If monetary plurality can pose a solution, how do we begin to implement it on a global scale?

Learn more

Online

20 Jul 2021

Webinar

A Note on Extractive, and Exclusive Institutions - Prof. James A. Robinson

In this session we examine historical examples of prosperity and ruin: what is the pattern shown here and can it be intentionally recreated or avoided? Presenting from his book “Why Nations Fail” James A. Robinson will present the key components that must be included within all political, and economic institutions for prosperity to flow. Armed with this, we will examine the theme of extraction and delve further into how exclusive governments, enterprises, private banks, operate. By insuring authority over the methods in which a population can or cannot access currency, people can be tricked or bullied into service -both domestic and foreign. While private enterprise extracts via monopoly power, lax labour laws, and other deceitful tactics, it is ultimately the political institutions which decide the economic practices of that nation, yet governments continuously favour banks and bankers despite the negative impact they have inflicted. The institutions that governments protect do not offer equal access to all citizens dependent on fiat currencies, which leads to disempowerment. As we evolve as a globally connected people, how do we put an end to extractive monetary practices? How do we set up an inclusive variant that more people have access to regardless of their nation?

Learn more

Online

28 Jul 2021

Webinar

Inventing Inclusive Monetary Solutions - Mr. Andrew Sheng

With Andrew Sheng, Distinguished Fellow of the Asia Global Institute This final session will examine the needs of our modern, globally connected civilization that current, antiquated approaches to economics simply cannot meet. Examining what we have learned so far, how would money need to be changed to better serve the needs of our modern world? Can we create money that reflects our values as a species? Host Michael Cosh will then present The Human Capital Network: a new monetary specie designed to work within current financial systems and nurture overlooked areas of economics with its own Blockchain cryptocurrency. This session will also provide a brief intro to the mechanics of Blockchain, and how we intend to utilize this open source, publicly accountable system to create an inclusive institution that may challenge extractive fiat institutions. We will conclude with a discussion on the presentation, led by Andrew Sheng and addressing questions from our audience. What are the challenges that currency plurality instigates? What would a system like this need to get off the ground? How might currency monopolists react to a new challenger? Above all, what do we need to do as a community of economic thinkers to Finance the Future?

Learn more

Online

20 Jul 2021

Webinar

RESCHEDULED: Prof. James A. Robinson...

After Host Michael Cosh has finished apologizing for the mix-up in everybody's schedule we will examine historical examples of prosperity and ruin: what is the pattern shown here and can it be intentionally recreated or avoided? Presenting from his book “Why Nations Fail” James A. Robinson will present the key components that must be included within all political, and economic institutions for prosperity to flow. Armed with this, we will examine the theme of extraction and delve further into how exclusive governments, enterprises, private banks, operate. By insuring authority over the methods in which a population can or cannot access currency, people can be tricked or bullied into service -both domestic and foreign. While private enterprise extracts via monopoly power, lax labour laws, and other deceitful tactics, it is ultimately the political institutions which decide the economic practices of that nation, yet governments continuously favour banks and bankers despite the negative impact they have inflicted. The institutions that governments protect do not offer equal access to all citizens dependent on fiat currencies, which leads to disempowerment. As we evolve as a globally connected people, how do we put an end to extractive monetary practices? How do we set up an inclusive variant that more people have access to regardless of their nation?

Learn more
Working groups
  • Finance, Law, and Economics
Project Organizers
YSI Profile Image

Michael Cosh

YSI Profile Image

Christina Mosalagae

For questions, the Project Organizers.