Learning about: The Operating System of Money22 Dec 2009
What is the operating system of money? Why are the rich getting richer and the poor getting poorer? When did all of this start?
Douglas Rushkoff answers these questions in a powerfully simple way:
Once upon a time, before the middle ages, we had an abundance-based currency. Everyone lived happily, you were issued vouchers based on how much grain you harvested, and those vouchers could in turn be used to pay for things. It was based on abundance… In contrast to our scarcity-based currency model of today.
> The monetary system we use today was created so that rich people could stay rich by being rich rather than doing anything. > We live in an economy where the sustainance of the economy itself depends on growth at the rate of interest. > Where do you get the extra money? You'll have to borrow that too. > Corporations? They were created to support this economic system as well.
This was the value of our currency right through the industrial age. This is the system still in use today. It is an outdated system, one that must be ruled out.
Why and how did this happen?
The following video by Rushkoff explains this in 15 minutes, why the system is broken and how must we change things to create a better economic system.