Discussing the people, ideas, and companies that redefine capitalism and inspire positive change
Since the KONY2012 phomenon (it’s more than a meme, right?), I’ve been resisting the urge to blog about it. I raged on my The Facebook wall and on Google+ about it, but I just wanted it to go away, rather than give it more attention; I’ve already offended enough people for calling them idiots for [...]
Author & speaker Charles Eisenstein recently released a breakthrough book called Sacred Economics, pointing the way to a new economy. (Read the book in its entirety online, for free) Filmmaker Ian Mackenzie decided to help out by producing a short film synopsis of the book’s primary points: You can read a little bit more analysis, or [...]
Longstanding government fiscal and monetary policies are fundamental contributors to the global imbalances that have built up, and as recently as 2008-2009, broke out and all but tore down the as yet prevailing global financial and economic order. China pegging the value of its currency, the yuan, to the US dollar has been a significant contributing factor. Despite support among economists and analysts, it’s high time for China to make the transition to a floating exchange rate system and open up its domestic markets to international investment opportunities, both coming in and going out.
Global economic conditions over the past five years clearly indicate that fundamental changes are needed if some sort of balance in the global economic system is to be achieved. Given the tremendous growth China’s economy has experienced in the past two-plus decades, and the repercussions of its US dollar peg, transitioning to a floating rate currency system could serve both China and its trading partners worldwide well.
