New Money: Jordan MacLeod on the evolution of a new global financial system

New Money: Jordan MacLeod on the evolution of a new global financial system

Posted On: January 17, 2015
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“Our economy indeed has the potential to transform into our vehicle, our shuttle, for reaching collective prosperity and increasing global integration.” 

Jordan MacLeod is a writer and consultant on the New Economy. He is author of New Currency: How Money Changes the World as We Know It and Founder and Partner of Cornerstone Global Associates, a Strategy Consulting firm based in London. Later this month he is leading cornerstone’s launch of a New Economics Unit focused on re-visioning and re-tooling global capitalism. Jordan is also founder and CEO of a startup software company, Strue. In this interview, Jordan puts the current economic crisis in the much bigger context of the evolution of money and financial systems throughout human history. He traces the development of money from the tribal age of barter through to the present digital age where money has been dematerialised. Jordan doesn’t claim to have a single blueprint for the future rather he has been scanning the horizon to see the evidence of our cultural evolution in action. He gives numerous examples of experimentation with new forms of currency and economic system. He gives particular focus to experiments with a method called demurrage which he believes could eliminate our compulsion for exponential growth and shift our focus towards a more co-creative and integrated society.  Jordan doesn’t believe that money or  capitalism are intrinsically bad, but rather our challenge is to revalue and reorganise the way we define money in a way which reflects our current and emerging values.  He envisions what a more self organising living system model of finance would look like and discusses the transition from the current system which would inevitably challenge existing power structures and vested interests. It could well be that the current global dominance of the US dollar may give way to a geopolitical shift to a Chinese-based currency or indeed a basket of multipolar currencies. Jordan thinks that it is more likely  that there will be some kind of bottom-up evolution of a new global currency which will better reflect the distribution of power more broadly around the globe.  He believes that this evolution of a more adaptive financial system is going to be a prime driver of our future security and way of life. He believes that the welfare system is based on entitlement in some Western countries are likely to collapse under their own weight and be replaced with something more empowering and sustainable.

 

Visit Jordan’s blog “New Currency”

Visit Cornerstone Global Associates