Selected References & Links
Contents
Introduction to Complementary Economics
Globalization
Complementary Currency Web Sites
Micro-Banking Web Sites
Basic Bibliography
Complementary Currencies
Micro-Banking
Further Reading on the Commons
Democratizing Asset Ownership
Ecological Economics
Taxes
Regional Investment
Resurces for Higher Education

Introduction to Complementary Economics

The best known local currency system in the United States is Ithaca Hours, founded and managed by Paul Glover. Basic books on the subject include:

The best known microlending system is Muhammad Yunus' Grameen Bank in Banglasesh. In addition to Yunus book, there are many web sites on the topic.

Asset ownership is the subject of a recent book by Jeff Gates and a classic by Henry George:

Good introductions to ecologically sound economics include:


Globalization


Complementary Currencies & Micro-Banking Web Sites

Complementary Currencies

Complementary Currency Systems:

Carol Brouillet. CREATING COMMUNITY CURRENCIES <http://www.communitycurrency.org>

Bernard Lietaer/The Future of Money <http://www.transaction.net/money/book/>and <http://www.futuremoney.de>

E. F. SCHUMACHER SOCIETY <http://www.schumachersociety.org>

Major Complementary Currency Systems in North America:

Community Way (Canada) <http://www.openmoney.org/go/designs.html>

Ithaca Hours <http://www.ithacahours.com>

Tianguis Tlaloc (Mexico City) <htp://www.laneta.apc.org/otrabolsa/tianguis.htm>

TimeBanks USA <http://www.timebanks.org>

The Toronto Dollar <http://www.torontodollar.com>

Micro-Banking

The best known system is Muhammad Yunus' Grameen Bank <http://www.grameen-info.org/> in Bangladesh:

Muhammad Yunus (with Alan Julis). (2003). Banker to the Poor. New York: Public Affairs.

Other micro-banking web sites:

Canadian Centre for International Studies and Cooperation. A Human Approach to International Development. <http://www.ceci.ca/ceci/en/index.htm>

Carana Corporation. <http://www.carana.com/index.htm>

Consultive Group to Assist the Poorest. <http://www.cgap.org/index.html>

ENTERWeb. <http://www.enterweb.org/wel come.htm>

FINCA: Foundation for International Community Assistance. <http://www.villagebanking.org>


Basic Bibiography on Complementary Economics

Alternatives to Economic Globalization: A Better World is Possible (a Report by the International Forum of Globalization). (2002). San Francisco: Barrett-Koehler.

A systematic analysis of macropolicies that could lead to a more just world composed of sustainable economic institutions. The key elements are the decentralization of decision-making and creating more effective institutions for corporate accountablity.

Banker to the Poor. (2006, November 22). The News Hour with Jim Lehrer (PBS).

An interview with Muhammad Yunus (transcript), Nobel Peace Prize winner and founder of the Grameen Bank. [Comment by Arthur Warmoth, Ph.D.]

Lester Brown. (2003). Plan B: Rescuing a Planet Under Stress and a Civilization in Trouble. New York: W. W. Norton

A sustainable civilization requires the global redesign of economic systems according to sound ecological principles, and Brown offers a plausible public policy framework. He is also founder of the Earth Policy Institute, which has a web site at <http://www.earth-policy.org/>

Thomas L. Friedman. (2005) The World is Flat. New York: Farrar, Straus and Giroux.

A dramatic introduction to what technology makes possible in integrating the global economy of trade, services, and finance. This is an important prelude to thinking clearly about what globalization cannot do.

John Kenneth Galbraith. (1958). The Affluent Society. Boston: Houghton Mifflin.

In 1958, Galbriath observed that modern industrial societies are awash in private material goods and starved for publi goods. It is remarkable how little has changed in half a century.

John Kenneth Galbraith. (1975). Money: Whence It Came, Where It Went. Boston: Houghton Mifflin.

A good introduction to the topic by a writer whose style is sometimes witty, somtimes cloying.

Jeff Gates. (1998). The Ownership Solution: Toward a Shared Capitalism for the 21st Century. Reading, MA: Addison-Wesley.

Gates examines a variety of approaches to democratizing ownership.

Henry George. (1879, 1979). Progress and Poverty. New York: Robert Schalkenbach Foundation.

A classic study of the social construction of wealth as the basis of land value. His single tax model was popular in the late 19th century, and it deserves to be pondered today.

William Greider. (1997). One World, Ready or Not: The Manic Logic of Global Capitalism. New York: Simon & Schuster.

Greider is a superb investigative reporter. Here, he explores the big picture of the intended and unintended consequences of the global integration of the economy under the institutional conventions of capitalism.

Thomas H. Greco, Jr. (2001). Money: Understanding and Creating Alternatives to Legal Tender. White River Junction, VT: Chelsea Green.

The latest book by a pioneer in the study of money as basic to the understanding of economic systems and a vigorous advocate of alternative currency systems.

Garrett Hardin. (1968). The Tragedy of the Commons. Science, 162: 1243-48.

Why individuals are tempted to abuse public resources.

Paul Hawken, Amory Lovins & L. Hunter Lovins. (1999). Natural Capitalism: Creating the Next Industrial Revolution. Boston, Little, Brown & Co.

A comprehensive review of theory and practical experiments aimed at incorporating principles of ecological sustainability into the design of economic institutions and systems. The book includes an extensive description of the pilot project taking place in the city of Curitiba, Brazil, under the leadership of Jaime Lerner and his colleagues. Check out their web site at <http://www.naturalcapital.org/>

Robert L. Heilbroner (1986). The Worldly Philosophers (6th ed.). New York: Simon & Schuster (Touchstone).

A well written historical introduction to modern economic thought, along with insights into the lives of the great economists.

Hazel Henderson. (1999). Beyond Globalization: Shaping a Sustainable Global Economy. West Hartford, CT: Kumarian Press.
Hazel Henderson. (1991). Paradigms in Progress: Life Beyond Economics. Indianapolis, IN: Knowledge Systems, Inc.

A transformation-oriented mind dump by one of the leading alternative economists/futurists.

Louis O. Kelso & Mortimer J. Adler. (1958). The Capitalist Manifesto. New York: Random House.

A critical study of the implications of capital ownership and the inspiration for the ESOP (Employee Stock Ownership Plan) movement.

John Maynard Keynes. (1935). The General Theory of Employment, Interest, and Money. New York: Harcourt, Brace & World.

Why depressions last and what government needs to do about it. Keynes theories dominated public policy until the recent advent of neo-classical economics (aka Reaganomics, voodoo economics, market fundamentalism, and in the developing world, neo-liberal economics).

Paul Krugman (1996). Pop Internationalism. Cambridge, MA: MIT Press.

Krugman is the Ford International Professor of Economics at MIT. In this book he debunks the conventional wisdom that winning the game of global competition is the answer to everyone's economic problems. On the contrary, he presents a tightly argued case for the domestic economy being the primary source of wealth and well-being for most of us.

Joseph Kruth & Andrew Cohill, Eds. (1999). Pathways to Sustainability. Published online by Tahoe Center for a Sustaionable Future at <http://ceres.ca.gov/tcsf/pathways>

A multifaceted, multidisciplinary look at possibilities for sustainable communities.

Bernard Lietaer. (2001). The Future of Money: Creating New Wealth, Work, and a Wiser World. London: Century.

Everything you always wanted to know about money, including how to design monetary systems to implement ecological and community-building values. Lietaer is a systems analyst who has been a successful central banker, government consultant, and offshore currency trader.

Bernard Lietaer & Arthur Warmoth. (1999). "Designing Bioregional Economies in the Context of Globalization." In Joseph Kruth & Andrew Cohill, Eds. Pathways to Sustainability, published online by Tahoe Center for a Sustainable Future at <http://ceres.ca.gov/tcsf/pathways/chapter2.html>.

A primer on bioregional economics, with particular emphasis on the problem of local liquidity.

Jerry Mander & Edward Goldsmith, Eds. (1996). The Case Against the Global Economy: And for a Turn Toward the Local. San Francisco: Sierra Club.

This is a wide-ranging collection of excellent articles that document the damage done by to local economies by globalization under the capitalist regime, as well as several that explore alternative strategies for local communities to consider. These include such options as local currencies and community organizing around ecological and economic interests.

Abraham H. Maslow. (1954) Motivation and Personality. New York: Harper & Bros.

Maslow's hierarchy of needs offers an alternative to greed as fundamental motivation for economic activity.

David Osborne & Ted Gaebler. (1992). Reinventing Government. Reading, MA: Addison-Wesley.

Osborne and Gaebler offer many excellent ideas for increasing the productivity of public spending.

Suzanne Morse. Smart Communities: How Citizens and Local Leaders Can Use Strategic Thinking to Build a Brighter Future.

Kevin Phillips. Wealth and Democracy.

A conservative observer finds that the extremes of wealth on poverty in the U.S. are threatening democracy.

Robert B. Reich. (1983). The Next American Frontier. New York: New York Times Books.

Reich explores some of the economic implications of information technology and global competition and introduces the important concept of "paper entrepreneurialism"

Robert B. Reich. (2001). The Future of Success. New York: Alfred A. Knopf.

Reich offers a compelling analysis of the economic implications of information technology, suggesting that it creates a buyers market in which competition among sellers will lead to lower prices and economic efficiencies in all sectors and areas of economic activity. As buyers, we can get whatever we want at every lower prices, but as sellers this leads to en endless cycle of competitive speed-up. Reich believes the only way to avoid the destructive aspects of this dynamic is to take more responsibility for our political decisions about the design of the system within which competition operates. In particular, he advocates for the need for strong public policy action in areas such as health care, child care, and education.

Jonathan Rowe. (2001, Summer). The hidden commons. Yes! <http://www.futurenet.org/18Commons/rowe.htm>

Jonathan Rowe (2002, Autumn). The promise of the commons. Earth Island Journal, pp. 28-30.

Useful introductions to the concept of "The Commons," particularly in relation to community culture and traditions and the integrity of ecological systems.

Michael H. Shuman. (1998). Going Local: Creating Self-Reliant Communities in a Global Age. New York: The Free Press.

Shuman offers case studies and strategies for communities that wish to regain a measure of economic self-determination.

Joseph E. Stiglitz. (2002). Globalization and Its Discontents. New York: W. W. Norton

A winner of the Nobel Prize explores the limitations of free market fundamentalism and the "Washington Consensus."

Adam Smith. (1976). The Wealth of Nations. Chicaco: University of Chicago Press (originally published 1776-78).

The founding text of free-market capitalism, often referred to, but not adequately understood, by market fundamentalists.

Lester C.Thurow. (1983). Dangerous Currents. New York: Random House.

Quo vadis?

Shann Turnbull. (1975). Democratising the Wealth of Nations from New Money Sources and Profit Motives. Sydney: The Company Directors Assn. of Australia, Ltd.

Using accounting methods and models to democratize the economy. A sane alternative to Arthur Anderson!

Muhammad Yunus (with Alan Julis). (2003). Banker to the Poor. New York: Public Affairs.

The theory and practice of microlending by the pioneer in the field.


Complementary Currencies

Olaf Egeberg. (1994). Non-Money: That Other Money You Didn't Know You Had. Washington, DC: The McGee Street Foundtion.

Paul Glover. (1998). Hometown Money: How to Enrich Your Community With Local Currency. Ithaca, NY: Ithaca Money.

Thomas H. Greco, Jr. (1994). New Money for Healthy Communities. Tucson, AZ: Thomas H. Greco, Jr.

Thomas H. Greco, Jr. (2001). Money: Understanding and Creating Alternatives to Legal Tender. White River Junction, VT: Chelsea Green Publishing Co.

The latest book by a pioneer in the study of money as basic to the understanding of economic systems and a vigorous advocate of alternative currency systems.

Bernard Lietaer. (2001). The Future of Money: Creating New Wealth, Work, and a Wiser World. London: Century.

Also see <http://www.transaction.net/money/book/> and <http://www.futuremoney.de>. Everything you always wanted to know about money, including how to design monetary systems to implement ecological and community-building values. Lietaer is a systems analyst who has been a successful central banker, government consultant, and offshore currency trader. He argues that the design flaws in money as an institution are responsible for many of the negative characteristics of modern economies, including environmental degradation and the breakdown of community. He is an advocate of expanding the growing complementary (or local) currency movement. But he also proposes a Global Reference Currency (GRC) that could have positive effects in stabilizing the global economy.


Micro-Banking

The best known system is Muhammad Yunus' Grameen Bank in Bangladesh.

Muhammad Yunus (with Alan Julis). (2003). Banker to the Poor. New York: Public Affairs.

"Banking on People," The News Hour with Jim Lehrer (PBS, April 24, 2001) is an introduction to the Grameen Bank. An interview with Muhammad Yunus (transcript), Nobel Peace Prize winner and founder of the Grameen Bank. [Comment by Arthur Warmoth, Ph.D.]


Further Reading on the Commons
from Jonathan Rowe (2002)

David Bollier. Silent Theft: The Private Plunder of Our Common Wealth (Routledge, 2002)

Whose Common Future? (by the staff of the Ecologist) (New Society, 1993)

Peter Barnes. Who Owns the Sky? (Island Press, 2001)

Lawrence Lessig. The Future of Ideas: The Fate of the Commons in a Connected World (Random House, 2001)

James Boyle. Shamans, Software, and Spleens (Harvard, 1996)

Seth Shulman. Owning the Future (Houghton Mifflin)

For more about "the commons' go to onthecommons.org.


Democratizing Asset Ownership

Jeff Gates. (1998). The Ownership Solution: Toward a Shared Capitalism for the 21st Century. Reading, MA: Addison-Wesley.
Jeff Gates. (2001). Democracy at Risk: Rescuing Main Street from Wall Street. Cambridge, MA: Perseus.

Gates examines a variety of approaches to democratizing ownership and their implications for the future of ownership.

Henry George. (1879, 1979). Progress and Poverty. New York: Robert Schalkenbach Foundation.

A classic study of the social construction of wealth as the basis of land value. His single tax model was popular in the late 19th century, and it deserves to be pondered today.

Louis O. Kelso & Mortimer J. Adler. (1958). The Capitalist Manifesto. New York: Random House.

A critical study of the implications of capital ownership and the importance of democratizing ownership as a way of increasing the constituency of stakeholders in the social order. Kelso's ideas were the basis of the ESOP (Employee Stock Ownership Plan) movement.

Shann Turnbull. (1975). Democratising the Wealth of Nations from New Money Sources and Profit Motives. Sydney: The Company Directors Assn. of Australia, Ltd.

An overlooked classic that explores the possibilities for using accounting models and methods to democratize the economy. A sane alternative to Arthur Anderson!


Ecological Economics

Lester Brown. (2001). Eco-Economy: Building an Economy for the Earth. New York: Norton.

A sustainable civilization requires the global redesign of economic systems according to sound ecological principles. He is also founder of the Earth Policy Institute, which has a web site at <http://www.earth-policy.org/>

Paul Hawken, Amory Lovins & L. Hunter Lovins. (1999). Natural Capitalism: Creating the Next Industrial Revolution. Boston, Little, Brown & Co.

A comprehensive review of theory and practical experiments aimed at incorporating principles of ecological sustainability into the design of economic institutions and systems. The book includes an extensive description of the pilot project taking place in the city of Curitiba, Brazil, under the leadership of Jaime Lerner and his colleagues. Check out their web site at <http://www.naturalcapital.org/>

Hazel Henderson. (1991). Paradigms in Progress: Life Beyond Economics. Indianapolis, IN: Knowledge Systems, Inc.
_____________.(1999). Beyond Globalization: Shaping a Sustainable Global Economy. West Hartford, CT: Kumarian Press.

Hazel Henderson is a leading futurist who has been toiling in the vineyards of alternative economics for decades. Beyond Globalization is an elegantly compact blueprint for economic sanity.

Helena Norberg-Hodge. (1991). Ancient Futures: Learning From Ladakh. San Francisco: Sierra Club Books.

Norberg-Hodge documents the destruction wrought on an ecologically coherent local economy by the incursions of globalization.


Taxes


Regional Investment


Resources for Higher Education

An excellent resource for postsecondary educators in th Association of University Leaders for a Sustainable Future (U L S F)

For more information on membership, programs and services, please contact ULSF at:

2100 L Street, NW Suite 402
Washington DC 20037
Tel.-202.778.6133
Fax: 202.778.6138
Email: info@ulsf.org
http://www.ulsf.org


Click here for
Online Resources for Sustainable Community Development

Thanks mostly to Michael Shuman's Going Local (Free Press, 1998)

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Click herefor a
Community Economics Bibliography

Compiled by Gena Van Camp


For more information, contact Art Warmoth, Ph.D. [Artwarmoth@aol.com]