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 →
Guy Dauncey is the author of Journey to the Future: A Better World is Possible and nine other books. He is an Honorary Member of the Planning Institute of BC and a Fellow of the Royal Society for the Arts.
June 2017. This is an updated and expanded version of Canada’s Housing Crisis: 22 Solutions, originally published on The Practical Utopian in December 2016.
A PDF Version of this essay can be downloaded here: Canada’s Housing Crisis – Guy Dauncey.
Canada’s housing crisis is far more severe than most people realize. The fundamental problem is an excess of money pouring into the housing market from various sources, combined with an abdication of responsibility by all levels of government for the past 30 years.
There are many on-the-ground solutions, demonstrating positive ways to build affordable housing. And there are seven new housing-related taxes that could raise the funds needed for a massive expansion of affordable housing.
The fundamental cause of the problem is the excess of funds flowing into the market, and until this is solved house prices will continue to rise, and most other solutions will seem like never-ending sandbagging.
The money supply problem can be solved. The money can be obtained to restore safe, sustainable, socially designed affordable housing as a fundamental human right.
And by establishing an Affordable Housing Social Justice Connector, a permanent, hundred-year solution can be put in place that will guarantee that Canada need never confront a housing crisis again. Continue reading Canada’s Housing Crisis: A Permanent, 100-Year Solution →