The Operation of Money -- The Fragile Earth

Author: Boyle (USA), translated by Li Yang
Publisher:
Publish Date: 2005-05-01
Features: This book has a chapter on the operation of various forms of currency, many of which are self-created "DIY currencies," mostly in the form of "quasi-currencies" for community use, designed to counter global currencies. The author believes that large corporations contribute less to small communities than small shops and strongly advocates for diversified thinking, hence promoting various niche ideas or creative models that benefit marginalized groups and communities. Examples include "Fried Food Dollars," "Hourly Coins," "Time Banks," and "Green Money." Taking Time Banks and Time Money as examples, they are ways to create value and restore dignity for those who feel "useless." For instance, people with depression earn Time Money by caring for the elderly; former female prisoners in San Diego, USA, use Time Money to pay for post-treatment care and expenses, earning it through mutual care. However, the author's "utopian" view is that if there were only one legal currency globally, there would be no foreign exchange, no foreign exchange speculation, and trade would be simpler without the need to worry about exchange rate risks, significantly reducing costs. But it is feared that many people worldwide may collapse along the way to this stage.
Exploring Money from a Different Perspective
Additionally, the author cites numerous examples to criticize unreasonable global phenomena that benefit only wealthy nations, pointing out that the United States leverages its image as an "unbeatable" superpower to issue bonds that pay only 3% interest, while poor countries borrowing from the U.S. must pay as high as 18% interest. This means developing countries are essentially funding the U.S.'s massive deficit. However, the author also expresses concern about the U.S. long-term practice of "living off debt," relying on the continuous issuance of government bonds to sustain itself.
The book also explores the operation of money from perspectives such as interest, speculation, the underground economy, and spiritual currency. The author highly praises the Islamic financial system's model of replacing interest with equity. In the chapter "Sinful Money," the author points out that the world's largest criminal organization is the "14K" (New Triad) based in Hong Kong, with 47,000 to 60,000 members worldwide.
The book uses many interesting stories to explore the operation of money while proposing creative models for financial operation, overturning the modern and contemporary economic thinking dominated by Western capitalism and attempting to find an economic model that is more humanistic and sustainable for humanity. Whether or not readers agree with the author's views, reading this book can bring them the joy of observing money from a different perspective and broaden their horizons.