by Guy Dauncey
First published in The Mint – Fresh Thinking in Economics, June 2019
How can we turn around the world’s financial institutions so that their creation of money serves to construct a new ecological civilization, rather than destroy our current civilization through the financing of ecological and climate catastrophe? It’s a massive problem that needs multiple solutions.
Before we turn our attention to some possible solutions, we need some context. Global GDP in 2018 was $87.5 trillion. Global debt, created by the world’s financial institutions, was $247 trillion, growing by $14 trillion a year. Between 2005 and 2016 the debt increased by 73%, split between governments ($63 trillion), non-financial corporations ($68 trillion) and private households ($44 trillion).
Continue reading Five Ways to Achieve Ecologically Sustainable Finance
What does it mean to be so worried, because you really can’t afford the rent? To have to surrender your hope of ever owning a home? To face the end of a rental lease and know that there is NOTHING out there that you can afford? To stare homelessness in the face?
Many of us are comfortably housed, but many are not. The autumn rains have arrived, and the harvest crops are being gathered in. Everyone seems to be getting on with their lives. And yet for many people, the smiles and kindnesses that make life worth living mask a level of stress and worry that should have no place in our community.
How can it be that in this Cowichan Valley that we love so much, there is such a housing crisis? How can democracy, the housing market, and local government have failed us so completely?
Continue reading A Practical Plan for Affordable Housing in the Cowichan Valley Regional District
August 20, 2018
I wish I didn’t have to write this. I count myself a friend of the NDP/Green Alliance, and I had high hopes for the government’s new climate action plans. 
BC’s Ministry of Environment has published a series of Clean Growth Intentions Papers, with a deadline for public feedback of August 24th, in the heart of this fire and smoke-filled summer. In my head, I can see that they have been framed in a very positive way, emphasizing the multiple economic benefits of engaging in climate action, reframed as clean growth.
But the policies floated contain little that is new. They are really timid. And by downplaying the climate crisis almost to a state of mental non-existence, they have written the urgency out of the picture. In my heart, I feel as if they have been written by a holiday season policy-drone operating on auto-pilot. Hard words, but that’s what I feel.
Continue reading BC’s Climate Intentions Papers: A Timid Response – and the Twelve Solutions We Really Need
by Guy Dauncey
$4.5 Billion Dollars to Subsidize Fossil Fuels? Here’s a Much Better Idea
$4.5 billion of Canada’s money, to buy a bitumen pipeline? Some suggest that it could rise as high as $12 billion, including future construction and legal costs.
So what if the money was invested in solutions to the climate crisis, instead making things worse by being invested in the primary cause, which is our use of fossil fuels? When Canada signed the Paris Climate Agreement most people presumed that it was being signed honestly, not as an act of laugh-behind-your-hand hypocrisy.
Thirty to Fifty Times More Jobs
That much money could leverage enough electricity to replace most of Alberta’s coal and gas-fired electricity, and generate between 30 and 50 times as many jobs. It could also power 18 million electric vehicles for 25 years. Continue reading Canada’s Choice
By Guy Dauncey, March 2018
If we are to live in a fair, just, ecologically sustainable world, many things in our economy will need to change, from the way banks create money to the way environmental losses and gains are accounted for and measured.
Let’s start with the businesses that grow the food, manufacture the products and provide the services we all depend on and enjoy.
It’s almost impossible to imagine a successful economy without its businesses. The Soviet Union tried, and Cuba is still trying, but neither has had much success. It’s hard to have success when the spirit of enterprise is not allowed to flourish. Continue reading Let’s Make Every Business a Social Purpose Business
They say we are self-interested, we’re always out to win.
Always individualistic, though it used to be a sin.
They say we need free markets, the better to compete,
and the economy will flourish if we only think of greed.
This is Economics 101, the way it’s taught today. Not a word about nature, community, caring, sharing, or cooperation.
During the mid 19th century, advances in science, democracy, education, literacy, public healthcare, labour unions, technological breakthroughs, banking, and the power of fossil fuels to generate rapid economic growth certainly made it seem that after ten thousand years of economic stagnation the competitive pursuit of profit was improving life for all. In the 1760s it took eighteen hours of human labour to transform a pound of cotton into cloth. By the 1860s it took one and a half hours. Today, it probably takes five seconds.
Continue reading The Birth of a New Cooperative Economy
This is an expanded Appendix 1 to my essay A New Cooperative Economy.
Until something has a name, it hardly exists. So what shall we call the new economy that we need so much? These are all proposed names that I have harvested from my reading. If you know of another, let me know, and I will add it. Updated to 74 names on November 21st 2017.
So which do you prefer? I apologize that this website is not sophisticated enough to allow for scoring. Click MORE to see the list… Continue reading What Shall We Call The New Economy We Need So Much?