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I = S - M

The modern way of thinking about economics has been I = M - S Where I is the I as in me, M is what is 'mine' and S is what ...


I imagine a Gandhian economy without money. I have some slight experience doing that. An economy must be a small unit. Removing money from the picture removes large entities from the picture. It removes profit-seeking firms and it removes government and quasi-government bodies. They all work with a monetary framework. That is how they exert power.

A few years ago I was scheduled to teach a performance art workshop at a university in India. I was under some pressure to kowtow to the head of the university. I refused. So I was banished from the institution. Since interest in my workshop was high, I quickly organized a voluntary economy that enrolled students, acquired studio space, ran a three-day workshop that ended with a public performance. I have lectured about this event and the Institute of Failure has published my work about it so I will not elaborate on it further here. But I will say this: no money changed hands at any point. We had created a small moneyless economy.

I think economies should be small and local and moneyless. It can be done. It is the foundation of our Gandhian economics.

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