Futuristic Money

My friend, the chemist and economist Peter Bowman, reminds me that money is ‘crystallised trust’. Another friend, the Art Historian Andrew Spira, describes money as ‘a promise’ . That is certainly what it says on the bank notes. And of course a promise and trust in that promise are...

Debt

A debt that will not be repaid is a theft. A system based on debt only works if the creditors believe they will get their money back. Creditors will only believe they will get their money back if the promises made by the debtors are creditable. To take an analogy: if I say I will pick your kid up from school...