As a follow up to my angry rant about our monetary system, I feel obligated to serve up a little portion of hope. After all, this blog is supposed to be about solutions. So I'm sharing a very good interview today -- Richard Douthwaite talked with Jason Bradford on the Reality Report a while back about the possibility of a carbon-backed global currency to tackle climate change. Here’s the link to listen to the interview:
Basically, it’s a glorified cap and trade system resulting in a currency that represents an allowance to emit carbon. To launch the currency, every nation in the world is issued a pre-determined number of credits based on their population. Once the currency is issued, countries can trade their carbon credits freely—the idea being that energy hungry countries would buy credits from poor countries, thus distributing wealth more evenly around the world.
If this was implemented in combination with an Oil Depletion Protocol to prevent wild fluctuations in the price of oil and food, perhaps Africans could keep eating past 2020.