Currency as a commons - currencies that work!
Increasing awareness is existing that 97% of money is created by private banks as they issue loans to us, and because almost all money is created through instruments which require repayment and interest, there is always more debt than money. Loans are issued to serve economic activity, and as such a growth imperative is created which purports the need to increasingly exploit (commodify) more of life, of resources, to pay back the interest on the debt.
Redesigning the role of Money and redesigning Currency as a commons
A second approach then wants to redesign the role of money, or to redesign money itself as a commons. The first would be happening by money not being issued by private banks, but by the state, and geared towards common goals and objectives set by the community of users, its citizens. The second angle then is concerned with redesigning currency itself as a commons, poses as a central question, how do we design currencies to foster human relationships?
Out of the experiences of the development process around Helsinki Timebank another angle was discussed in the workshop, namely that of the development of a currency as a pedagogical process, bringing people together to learn and engage in commoning (the co-governing and carrying of responsibility for our currency commons).