The political economy of the current financial system is the context out of which alternatives are being forged. Changes to the privatized debt-based monetary system, expansion of co-operative and publicly owned finance institutions and fostering of diverse currencies an credit structures are the main categories of reform advocated for. The most significant issue with progressive proposals is not the accuracy of the underlying analysis, nor the efficacy of the proposed changes, but the obstacles to their implementation within the currently constructed human societies. Understanding this context is fundamental to advancing the mandate of the Financing Transition Research Cluster.
This paper written by Roger Boyd at Athabasca University is a great start. It was developed for a course in sustainable development at Athabasca University taught by Dr. Michael Gismondi.
Contribution by: Mike Lewis, Finance Research Cluster, BALTA Scaling Innovations for Sustainability Project