Dr. Stefan Brunnhuber discussed the system of central banks and argued for a "monetary ecosystem" of multiple currencies.
Our money system IS the ‘Missing Link’. We tend to assume that we must have a single, monopolistic currency, funded through bank debt, enforced by a central bank. But we don’t need any such thing! In fact, the present system is outdated, brittle and unfit for purpose (witness the Eurozone crisis). Like any other monoculture, it’s profitable at first but ultimately a recipe for economic and environmental disaster. The alternative is a monetary ‘ecosystem’, with complementary currencies alongside the conventional one. This is more flexible, resilient, fair and sustainable. Societies worked like this in the past. So can we. In 1972, the famous first Report for the Club of Rome – The Limits to Growth – showed how an economic system that demands infinite growth in a finite world is fundamentally unsustainable. This new Report explains our present monopolistic money system and the flawed thinking that underpins it. It spells out the catastrophic problems – environmental, socio-economic and financial – that we will continue to experience unless we make radical changes. Finally, it sets out nine practical proposals, which can be implemented now, to run alongside the current money system. This book is essential reading for policy makers, business leaders and economists, anyone concerned about sustainability, those working in the field of monetary systems and anyone with an informed interested in the future of the planet.
Stefan Brunnhuber is a psychiatrist and socio-economist, who for over a decade, has focused on the relation between international financial systems and regional social welfare. He has lectured on this topic at the Macro-economics Department of Szeged University and the Budapest PPKE University. He has led and participated in several international working groups for the European Academy of Science and Arts and the Club of Rome in this field. He most recently co-authored the book Money and Sustainability: The Missing Link (www.money-sustainability.net) endorsed by Finance Watch and the World Business Academy and translated into over 10 languages. Dr. Brunnhuber is Chief Medical Officer of a regional academic hospital in Saxony, Germany and Vice-Chairman of the European Institute of Medicine. He is a scientific advisor to the EU Commission and provides regional political counseling on healthcare issues. He is one of the founding members of the Alma Mater Europeae and one of the ten German members of the World Academy of Arts and Science.