Essential Knowledge for Transition: Economic System

The current economic crisis is a recurring phenomenon of a structurally unstable economic system. This part of the curriculum looks at the current economic crisis in its historical context, how we dealt with the last major crisis in the 1930s and how we are (counter productively) dealing with it now. It explains the essential features of of the system that makes it unstable and destructive of communities and ecosystems. We will then look at the systemic features of a new economic system that would be compatible with long term health of ecosystems and communities. Finally, we will explore the path from the current system to one that democratizes and localizes economic activity and anchors wealth and capital formation in the community.

About Marco Vangelisti

Marco came to the US from Italy as a Fulbright scholar in mathematics and economics at the University of California in Berkeley. After a stint in the financial industry, Marco worked as visual artist on a full-time basis for 5 years and obtained a MFA focusing on the intersection between public art and ecology. He later worked for 6 years for Grantham, Mayo, Van Otterloo & Co. LLC ("GMO"), managing investment equity portfolios primarily on behalf of large foundations and endowments.

In April 2009 Marco left the finance industry and has since been instrumental in the formation and development of the Slow Money Northern Californiachapter where he currently leads the investor working group. Marco is currently developing Essential Knowledge for Transition- a curriculum for engaged citizens to understand the money and banking system, the economic system and the financial system and how we need to transform them. Marco is also helping communities increase their capacity for local investing.

[ErnestOfGaia]

there is a book called #Degrowth that I would recommend for more information and research on these issues. Also Professor Richard Wolff had a once a month lecture that focuses on Worker Self Directed Enterprises. We spend a quarter of our time working in workplaces, mostly for nondemocratic corporations. Changing this environment of relationships is crucial and currently more likely than changing our political system. We have two types of power, consumer power and labor power. The capitalist class depends entirely on our labor power and consumer power. Relearning how to organise around the exercise of our labor power is crucial in order to begin making the societal change we wish to become. Ultimately we must start making our own decisions on regional and local levels instead of allowing corporations to do it for us