TIGblogs - Chris

CrosscutJERP's Blog

CrosscutJERP's Blog

The Carbobuck: a fundamental unit of value
I wonder about a new monetary system based on carbon. If you consider monetary systems as a measure of value, they bring an objective, measurable quantum to an inherently subjective and elusive concept. Well, what can be more valuable to us all than the health of our one and only planet? It seems to me that a monetary system that captures the inherent value of our planet's ecology is far more representative than one that seems to capture only our ability to exploit the planet's finite resources. In this vein, I'd like to introduce the carbobuck. It's like a dollar, yen, franc, pound, etc. except it is a measure of the most fundamental unit of wealth we can imagine while living on earth: the planet's well-being. For example, consider your daily routine. You rise, bathe, eat, commute, contribute to (or extract from) the economy, commute again, and so on. These activities can be distilled down to a conventional monetary measure fairly accurately, but are they really measured at their most fundamental level? I argue that the balance of value measured by traditional monetary systems is incomplete and misleading. One may believe that he/she has contributed to the economy's collective wealth by using these traditional methods, but that may not be the case if one uses carbobucks instead of dollars. If a carbobuck could be made into an accurate measure of value based on earth's, and by extension, humanity's well-being (easier said than done) then one could reassess one's actual contribution. I'd like to start an open-source, collaborative project on exactly that. I want to find a way to define and quantify the carbobuck. Any ideas?

February 16, 2007 | 7:56 PM

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Comments

	Awais Aftab February 17, 2007 \| 6:56 AM

That's a really interesting idea. Thought provoking. Is it your own?

	Chris February 17, 2007 \| 11:42 AM

Carbobux Yes. I often get the feeling we live in a world where we suffer from an inability to accurately measure value. I want to try fixing that. Money as we presently use and understand it quantifies the value of a good or service in a way everyone can easily grasp. That would be fine if money truely captured all the costs and benefits of a good or service. But usually it doesn't. For example, examine computer components manufactured in China for export to the United States. The value of such goods in the US is perceived to be high because of the comparatively high quality for a comparatively low price (in terms of money). But the monetary price doesn't reflect the costs of worker exploitation, resource consumption, and environmental degradation, among other costs hidden from the consumer by the deceptively low price. Such an item priced in carbobucks would be much higher. But how much higher? How does one arrive at a quantum that is the true denominator of value? Please, if this notion is interesting to you, pass it on. The issue is thorny and complex, but not impossible. Maybe to get the ball rolling a study could be designed that looked at the production of a single product (say, a computer monitor, for example) from raw materials all the way through manufacture, transport, use, and disposal. Each element of this process is measured in terms of its cost to the planet and humanity. Then the cost can be compared to the (potential) benefit, and a more global assessment of its worth can be ascertained.

	Robert Head July 24, 2007 \| 11:59 AM

Sin Taxes I believe this concept can be incorporated into an existing economy (without changing currencies) through the concept of sin taxes. For example, in order to more realistically present the cost of driving, etc., we need to tax the hell out of gasoline. Alcohol and cigarette taxes are another example. Although these primarily affect only the health and well-being of the human community, there are obviously environmental costs in the form of farmland usage, as with all crops. In terms of actually switching currencies, I believe the idea would be to limit the supply of currency to match the sustainable resources available in the world. The money supply might have to start higher and gradually work its way down due to the current "burn rate" of our civilization. Long-term, a new economy could bring us into balance by limiting the supply of money (representing resources) available.

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