All Values Are Not Interchangeable

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In order to break the logic of general-purpose money, which inexorably rewards the dissipation of resources with increasing access to more resources to dissipate, we need separate currencies (and markets) for local and “global” goods and services.

In using a distinct currency (issued by the state) to purchase goods and services that can be locally provided, individual consumers would save their formal money for other uses and finally find it rational to consume locally, thus reducing long-distance transports and carbon dioxide emissions. Such a bi-centric economy would have many other benefits, but the most important is to acknowledge that all values are not interchangeable, if we want to avoid biospheric (and civilizational) breakdown.

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