Version 2.0

Contributors: Ruzzene, Maurizio, Dr. (Associazione italiana per la decrescita)

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Scientific paper contribution 1: Financial Crisis and degrowth. The problems of financing public economies, taking care of the commons, local currencies
Abstract: The current financial crises involve economic growth and its monetary institutions from many points of view, requiring widespread institutional changes. This paper will mainly focus on the structural problems that arise when financing Public Economies and Care Activities (PE&CA) in the tertiary age, of post growth or Actual de-growth. For many reasons PE&CA cannot systematically grow in productivity as required by the growth logic. This creates difficulties for capitalist economic growth, and also for a balanced development of PE&CA, and it calls for new sources of funding and new monetary institutions, more appropriate for sustainable socio-economic development, especially for PE&CA. I will consider two main proposals: a) a shift in tax burden from wages to ownership and use of environmental resources; b) the establishment of mutual credit systems without interest, based on social average value of time units and managed electronically by local communities governments.

Scientific paper contribution 2: Alternative currencies and de-growth: average value of labour time as basis for enhancement of interest-free credit systems
Abstract: This presentation considers problems and benefits that can follow from linking time cur-rencies to an average social value of labour time. The link to an average social value of labour time (i.e. applying an average hourly wage to a standard time unit) can greatly ex-tend the application of time-based currencies. It can significantly enhance their interest-free long-term credit functions. Overall it may extend the interest-free credit function to financing public economies and care activities. Various benefits for de-growth perspec-tives are also possible. Time-based currencies are linked to limited resources, like avail-able labour time, and cannot grow in an uncontrolled manner as does monetary wealth. Furthermore reference to an average social value principle can support the search for more equitable and responsible exchange relations without being hampered by exces-sively rigid principles of equality.