Upcoming book on new economy built around a mutual credit core

Dave Darby of Lowimpact.org has a contract to produce a book about growing a new economy, in communities, with mutual credit at the core. This page provides an overview, and below are key resources by chapter (click on chapter heading): video interviews with relevant people whilst researching the book, plus articles and websites providing additional information. The chapter resources will be expanded as more interviews are conducted and relevant articles and websites identified.

Key links

Chelsea Green: publishers; employee-owned company, and therefore part of the new economy described in the book.

Mutual credit: introduction to mutual credit – the core of the book.

Credit Commons: protocol for networking local mutual credit schemes, and then networking networks up to the global level.

Mutual Credit Services: new organisation developed to support local mutual credit groups, and help them network; new website coming soon.

New economy: introduction to the kind of new economy outlined in the book.

LowimpactTV: YouTube channel where all new videos will be uploaded.

Book information

Provisional title: Edgeonomics: Building the new economy from the outside in

Publication date: January 2022

Provisional back cover notes:

Money has two main functions – it can be used to buy and sell things, and it can be used to store, hoard, accumulate and become wealthy with. As long as that’s the case, money will gravitate towards stored wealth, because money attracts money and gives access to the political system. This continues until so much money is concentrated, and so little is circulating that the economy crashes – as it has many times – and will continue to do so until those two functions are separated. During crashes, communities are devastated and ordinary people suffer. During booms, nature is destroyed. So there’s never a ‘good’ part of the boom and bust business cycle. Groups of people are building the infrastructure and the technology to separate the exchange and store of wealth functions of money. A new, decentralised economy can be built around it from the edges, in communities, and it can be federated to the global level. It will work if we use it. This book is to persuade you to use it. The core of it is a 19th century idea called mutual credit, whose time has come, now that we have the internet; the ability to federate: a growing awareness of what’s happening to nature; and a Covid-induced economic slump.



Click on chapter heading for resources on each chapter.

Part 1: Why? (philosophy): The need for a new kind of economy

1. Money

  • What is money?
  • Origins and history of money
  • Foundation of the Bank of England
  • The last 150 years
  • Where money comes from now
  • The relationship between banks and the state
  • The fictional nature of economics

2. Trouble

  • Economic trouble
  • Political trouble
  • Ecological trouble

Part 2: How? (principles): Imagining the new economy

3. Decentralisation

  • Centralised approaches: State control of the money supply, Sovereign money, Modern monetary theory (MMT), Public banks
  • Pros and cons of state control
  • Returning to a gold standard, LibraCoin / Diem
  • Centralised vs Decentralised approaches
  • Decentralised approaches: Scrip currencies, Crypto, Faircoin, Local / independent currencies

4. Mutuality

  • How mutual credit works
  • Is it money?
  • Benefits
  • History of mutual credit
  • LETS and timebanks
  • Existing mutual credit networks

5. Neutrality

  • What do the terms left and right mean?
  • Roots of left and right thinking
  • Why the left vs. right battle isn’t helpful
  • How mutual credit can unite left and right

Part 3: What? (practice): Building the new economy

6. Clubs

  • The Covid effect
  • Forming clubs
  • How do they work?
  • Trade credit clubs
  • Storing value: saving and investment in a mutual credit world

7. Community

  • Circularity of trade
  • Incubating small businesses
  • Community wealth building
  • Working-class communities
  • A word about prices

8. Variety

  • Exchange: Ripple / Trustlines; CICs / Grassroots Economics; Open Money / Covestment / Community Way
  • Other exchange models
  • Products & services

9. Federation

  • Federating clubs to build the global ‘Credit Commons’
  • Who can join the network?
  • ‘Replicate and federate’

10. Transcendence

  • Is a new economy really possible?
  • To Reformers, overthrowers and ‘blueprinters’
  • Change from the edges
  • Why isn’t this happening already, if it’s such a good idea?
  • If banks and states fight back
  • Transcending
  • Call to action


Back to chapter list

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