Comments for How to Share the World's Resources: A Proposal at http://www.stwr.org , comment 1 to 1 out of 1 comments http://www.stwr.org Tue, 07 Oct 2008 00:33:56 +0100 FeedCreator 1.7.2 http://www.stwr.org/economic-sharing-alternatives/how-to-share-the-worlds-resources-a-proposal.html#comment-14 UNCU – United Nations CUrrency It seems that today only an extremely high profit – to gain more and more money – is a sole aim of every economic activity. Second negative function of money is that became a mean of speculation, above all on financial and exchange markets around the world. Money thus losing its basic function – simplification of process of changing goods. Can we back this function of money again and resolve huge problems of our era at the same time: hunger, poverty, huge social inequalities, inflation, financial shocks etc.? Within the United Nations (new agency or council that you propose) which only indeed represents humanity as whole, we could establish new virtual currency – this currency can be named UNCU (United Nations CUrrency or Currency of United Nations) or differently. Value of this currency will be based on value of one or more common goods (you says global commons). How would we determine value of new currency? For example: we select 1 ton (t) of wheat and we say that is worth 1 UNCU. This value thus becomes a base unit, which help us to determine relationship to other common goods: water, oil, wood, soya, rice etc. (For instance: we determine that 1 t of soya worth 2 UNCU, which means that 2 t of wheat worth same as 1 t of soya.) Task of determination of new currency value and relationships to other common goods will be in hands of agency or council specialists from all member state. All member state only voluntarily entering in that currency system and would have to agree with their decisions. Criteria for determination of currency value must be establish at first: scarcity of good, importance at satisfying of basic needs of people, difficulty of manufacturing and transporting etc. Relationships of value between goods could change, however only in agreement with all members of this system. With the help of new virtual currency member states could change goods directly (trade by barter) without speculative and volatile markets. New agency or council will manage the accounts of all their members and coordinate the flow of goods – where the most needed. That is in line with your proposal for Sharing the World’s Resources (or common goods). In the begining rich counry will have surplus and developing countrys deficit on their accounts, but in long term a balance will be establish. That must be an aim of all member state. New currency will become an useful tool for just and equitable economic system based on sharing. Rok Kralj PS: Sorry for my English - Rok Kralj Tue, 19 Aug 2008 19:28:14 +0100