Social Thinking and Monetary Design

“When we have awareness of the contributions that individuals make towards society and our own needs, and when we experience how our own efforts are a part of the diversity that makes up our society, then there’s a kind of social health that can emerge.”

In a recent episode of Questions of Courage, the Goetheanum Youth Section’s leader, Nathaniel Williams, speaks about more conscious ways of navigating monetary design with inclusive social thinking. Especially in the wake of the abuses of trust by prominent figures in the world of cryptocurrency, there’s a need to rethink the process of monetary design. Rather than emphasizing the freedom of the individual above all else, however, is there a way to incorporate inclusive social thinking? In the episode, which is available both as a video and podcast, Nathaniel speaks about the Chiemgauer project, a local currency in Germany designed to accelerate the circulation of money and de-incentivize its storage. Additionally, 3% of each transaction is donated to community clubs and nonprofits. In twenty years, it’s gained a lot of momentum and recognition, demonstrating that new monetary designs can be ethical and effective.

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Image Chiemgauer banknotes, Photo: Chiemgauer e.V.

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