The End of Money and the Future of Civilization |  | Author: Thomas H. Greco Jr.
Publisher: Chelsea Green Publishing
List Price: $19.95
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Rating:  29 reviews
Sales Rank: 15193
Media: Paperback
Pages: 280
Number Of Items: 1
Shipping Weight (lbs): 0.8
Dimensions (in): 8.9 x 5.9 x 0.9
ISBN: 1603580786
Dewey Decimal Number: 332.49
EAN: 9781603580786
ASIN: 1603580786
Publication Date: June 4, 2009
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Product Description
Like the proverbial fish who doesnt know what water is, we swim in an economy built on money that few of us comprehend, and, most definitely, what we dont know is hurting us.Very few people realize that the nature of money has changed profoundly over the past three centuries, oras has been clear with the latest global financial crisisthe extent to which it has become a political instrument used to centralize power, concentrate wealth, and subvert popular government. On top of that, the economic growth imperative inherent in the present global monetary system is a main driver of global warming and other environmental crises.The End of Money and the Future of Civilization demystifies the subjects of money, banking, and finance by tracing historical landmarks and important evolutionary shifts that have changed the essential nature of money. Grecos masterful work lays out the problems and then looks to the future for a next stage in moneys evolution that can liberate us as individuals and communities from the current grip of centralized and politicized money power.Greco provides specific design proposals and exchange-system architectures for local, regional, national, and global financial systems. He offers strategies for their implementation and outlines actions grassroots organizations, businesses, and governments will need to take to achieve success.Ultimately, The End of Money and the Future of Civilization provides the necessary understanding for entrepreneurs, activists, and civic leadersto implement approaches toward monetary liberation. These approaches would empower communities, preserve democratic institutions, and begin to build economies that are sustainable, democratic, and insulated from the financial crises that plague the dominant monetary system.
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Showing reviews 1-5 of 29
 Incredible story on money and changes for needed for our future October 8, 2009
M. Stewart (Texas, USA)
3 out of 3 found this review helpful
This is not a book you can glide through; it took me almost three months to read it, but it was time well spent. I have a degree in finance, and I was astounded at how little I knew about the history of money and the implications of how it has evolved into a situation where control of money and the economy is held by a small group of people; very powerful people. As I started to read it, my first impressions were that this book was in the vein of some conspiracy books. And yes, there is an index entry for the Trilateral Commission! But as I continued, the more everything started to fit together. This is not some doomsday book, but a carefully researched thought-provoking work.
The author proposes that to help make money more accessible to everyone, and to be more equitable to all, is the formation of alternate currencies. He details how that has taken place in the past, such as in post World War One Germany, when hyperinflation gripped the country, and in 1923 a loaf of bread cost 428 billion marks. An alternate currency was introduced, with some key features that are crucial for any alternate currency, such as no legal tender compulsion, and reasonable limits on currency creation. Other examples come from various South American countries. In the United States, an example from Pennsylvania after the tragic Johnstown flood shows how this concept can work. A current example not mentioned in this book, but is covered in the book Africa Rising, is how cell phone minutes have become a medium of exchange in several African countries, combating hyperinflation there. You can get your car repaired in exchange for cell phone minutes!
The book highlights the major problem with current currencies as there has been a blurring of the distinction of the two basic purposes of money, and the role of central banks such as the Federal Reserve Bank in the USA. The first basic role of money is as a medium of exchange, or a store of value. The other is as a credit instrument, to help fund future production. What has caused our current predicament is the conflicts of interest between the banking industry and the central banks, in regards to creation of currency.
He then details how a gradual transition to a more equitable solution is possible. The main idea is the creation of "barter clubs" to get to the point where cost of credit becomes reasonable and controlled. He details past attempts at such barter clubs, and gives a balanced coverage of both the successes and the failures, and details what can be done to avoid the past failures. The beauty of the barter club is that members can obtain reasonable amounts of credit for current inventory without any interest charges He mentions the key to the success of these barter clubs is to recruit the entire supply chain; manufacturers, wholesalers, service businesses, and retail. I know from experience with a barter club in the 1970s a major drawback was almost all members were service businesses such as beauty salons, realty agents, and car repair. Taxation implications are addressed; barter clubs are not an attempt to bypass income taxes. Barter club is perhaps a too narrow term, but sufficient for this review.
The book has a very thorough index, 198 footnotes, and four pages of references from a variety of sources. Two appendixes contain a sample member agreement for barter clubs and a proposed standard measure of value.
This book could have a profound positive impact on local and eventually global economies. It is definitely worth the effort to read through it, if nothing more to better understand our financial system and its weaknesses in order to garner support for a more equitable and secure financial system.
 Manic Obsession September 30, 2009
B. Eibisch (Australia)
0 out of 11 found this review helpful
After reading the Ascent of Money (which was really good) I thought this would be a good read as it was linked in Amazon's further reading suggestions. Not so!! Admittedly our current world financial system is not perfect as expressed in the disparity between rich and poor, trade imbalances and national debts however reading this book I felt like I had a mangy dog chewing on my leg that just would not get off. I slugged my way through getting more depressed about wasted time as I got deeper into the book. I am extremely wary of persons with unique epiphanies especially on something as mundane as finance or economics and this book seems to confirm my view.
Boring Boring Boring....But Important August 27, 2009
Kristi G., mom of Sage (Rome, GA)
5 out of 5 found this review helpful
Why are some of the most important topics so very boring? Is that why people don't know these things? They can't STAND to get through books like this in order to learn them?
I totally agree with everything this book is saying - not only does it do a thorough job defining the history and the problems with money, as we know it today, but it offers very real, practical solutions. Solutions that I believe are going to be vital if the US is going to retain it's world power status and avoid revolution.
That said, there are cartoons on youtube that are much more accessible to the average joe that needs to be aroused from 'this is the way it works' slumber. NO IT DOES NOT. Therefore, giving this to your friends to try to help them understand is probably NOT a good idea - and that would be the best value of the book, because chances are, most people that are going to buy it ALREADY KNOW how the fractional reserve system works, and already understands that the FED is NOT part of our govt. and that central banking was NOT something the founding fathers ever wanted in AMERICA!
That said, this book can give those already familiar with how money works an excellent arsenal to be used in discussing the future of currency and how loans COULD work to build America instead of forcing us all into positions of wage slaves for a few elite.
Even though I am pretty well versed in Austrian economics, and the current problems, I found I had to read this book about 1/2 a chapter at a time. It is 'hard' reading.
New Synthesis for discerning radicals on the money problem July 29, 2009
William Shepherd
3 out of 3 found this review helpful
First coherent and intelligible narrative on why the money problem matters and how to do something about it. Style and tone just right. Integration of the great wealth of complex (and hidden) material superb.
 Definitely not for the casual reader July 23, 2009
D. Michael Elkins (Valrico, FL USA)
7 out of 9 found this review helpful
Like the blurb says, "we swim in an economy built on money that few of us comprehend." Unfortunately I felt the same way after attempting to get through this book. I was attracted to the book by the intriguing title but soon found that anyone who does not already possess a strong background in the fields of economic theory or finance will be lost after getting through the initial portion dealing with the history of money.
Showing reviews 1-5 of 29
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