saltandlight.eu

    the Christian resource page in support of Christian values
                                                                                                       about us
Economy

On the current economic crisis - possible reasons

28. Dec 2008, Vienna: In order to tackle the current economic crisis governments are pouring incredible amounts of money into the banking system and the economy. But these measures have not improved the situation up to now. What could be the reasons?

From a biblical perspective we can identify 2 major problems in the current worldwide financial system:

  • the use of interest (compound interest)
  • money is created (by National Banks) only by creating debt, i.e. without debt there is no money.

Both practices are not based on biblical principles.

Read more ... on the effect of (compound) interest rates. You will be surprised at the results of some simple calculations.

Continue reading about an interest free experiment during the great depression in Austria in 1932/33. Because it was successful, it was forcefully stopped by the Austrian government.

The experiment of Woergl - an alternative without interest rates

The Austrian town Wörgl (Tyrol) fights unemployment successfully during the great depression in 1932/33 using free money. But the experiment is halted in 1933 by the Austrian National Bank

During the great depression in the years 1932-1933 Michael Unterterguggenberger, Mayor of Woergl (Tyrol, Austria) introduced Labour Certificates.

On July 5th 1932, in the middle of the Great Depression, the Austrian town of Woergl made economic history by introducing a remarkable complimentary currency. Woergl was in trouble, and was prepared to try anything. Of its population of 4,500, a total of 1,500 people were without a job, and 200 families were penniless.

The mayor, Michael Unterguggenberger, had a long list of projects he wanted to accomplish, but there was hardly any money with which to carry them out. These included repaving the roads, streetlighting, extending water distribution across the whole town, and planting trees along the streets.

Short summary of the Wörgl experiment.

For more information:

Wörgl's Stamp Scrip “ The Threat of a Good Example?” by Martin Oliver

Wörgler Freigeld: Help with labour certificates (Unterguggenberger Institute)

The story of Woergl - shortened English version of the booklet from Fritz Schwarz - The Wörgl experiment

The Wörgl currency and demurrage - from www.reinventingmoney.com

Discussion Forum

If you would like to provide us with your ideas and thoughts on these topics please write to w e b m a s t e r < at > s a l t a n d l i g h t . e u.

 

 

[saltandlight.eu] [Bible Foundations] [Intercession] [EU Debate] [Christian Action] [Religious Liberty] [Homosexuality] [Islam] [Gender Mainstr.] [Family] [Abortion] [Stem Cell] [Economy] [One Problem] [Calculating Interest] [Woergl] [Microcredit] [Human Trafficking] [Politics] [News] [Links] [About us]