It’s time to rethink how we create and allocate money.
In Outgrowing Capitalism, Marco Dondi sheds light on the fact that most people do not have the economic security to focus on purpose and life fulfilment. He proposes that this is not the way things have to be; there is an alternative. In a quest to change our economic system to cater for everyone, he identifies deep issues in how money is created and allocated and connects these to capitalism. Instead of generating value and increasing well-being in society, free-market money creation through private banks has led to inflation of house prices, financial crises, increasing inequality, and mountains of private debt.
Dondi shows that the assumptions and circumstances that made capitalism a success are no longer true today. He then describes a new socio-economic model, monetism, an alternative that is good for the many rather than the few. He provides a pragmatic roadmap to institutionalize monetism and solve societal issues that only seem as permanent as time.
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Available November 9, 2021
The Importance of Outgrowing Capitalism
Our world is out of whack. Our societies have never been so rich, so knowledgeable, and so united. Yet if we look around, we can see that incomes for most people have not risen for decades. Well-being has lost any connection to economic growth, and artificial intelligence and robots threaten to take once invulnerable jobs or shrink their value. As the gap between the haves and have-nots continues to widen, debt grows larger and larger. Poverty, inequality, and the calamity of climate change all seem undefeatable in the near future and maybe even in the long run. Crisis after crisis builds on system-wide failure to make life for the average person a roller coaster of anxiety, frustration, and powerlessness.
Capitalism focuses on production and, for a long time, increased people’s buying power. No more. Limited purchasing power now hinders both production and the diffusion of innovation, and it will do so more and more. Outgrowing Capitalism describes this major shift in this economic system. It shows why capitalism is now obsolete and how confidence in unfettered markets continues to limit prosperity. This ideology that exalts free markets, promotes minimal intervention, and defends the status quo. It is a system that favors the wealthy, established technologies and corporations, patriarchal societies, and particular ethnicities.
As biological organisms must evolve to thrive in changing environments, so must our economic system. We no longer live in a society where all that is needed are production and all able bodies working. We can aim at giving all people the opportunity for well-being and fulfilling lives, and that goal requires a reshaping of society, beyond the limits of capitalism. Outgrowing Capitalism provides a solution: monetism. With monetism, we can evolve and implement an economic system that better fits the world we live in today.
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