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12 August 2021: With the highlights of the recent IPCC climate assessment report, it has become obvious that continual, expansive growth is not currently sustainable for the human population. Although the debate on in which way the world should de-carbonize is a valid, ongoing discussion, the fact that, overall, the world must change its economic mindset is apparent. This article will explore how both Bitcoin & Ampleforth can be utilized within a 'de-growth' model in which this new model helps to redefine the metrics of true economic success.
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De-Growth is the Only Viable Way Forward
De-growth within an economy refers to the critique of current economic growth theories in which the economy is not chasing infinite growth to keep being successful and rather focuses on reducing global consumption & production to generate a socially just and ecologically sustainable society. The measure of GDP no longer becomes the forefront of economic focus. That focus is shifted towards social and environmental well-being.
To examine the term economy more closely, consider the following definitions:
Economy:
1: the structure or conditions of economic life in a country, area, or period also : an economic system
where economic refers to
1a: of, relating to, or based on the production, distribution, and consumption of goods and services
Based on this definition, an economy refers to the structure or conditions of said economic activity within a designated area or time frame. When considering this, it is also imperative to determine precisely what the economy is built from. Economic systems cannot exist without two distinct things: people in which to do the producing, distributing, and consuming & the environment in which goods & services can be extracted or created.
The reason growth-based economies are illegitimate in terms of significant, long-term human progress is the fact that the term "growth" is being attached to monetary metrics in which success is only achieved through an increase in those very monetary measurements, regardless of the damage or harm being done to the underlying building blocks in which the economy was actually founded: people & the planet.
Thus, the term de-growth is simply a reversal of this ideology to focus on the true building blocks of any economy. If the well-being of the people participating within an economic model increases without damaging the ecological system in which it depends on, the economy is successful. The flourishing of the participants and the environment in which they reside provides the most complete picture of true economic success.
Utilizing Bitcoin & Ampleforth Within a De-Growth Model
To reverse current economic ideologies away from infinite monetary growth and towards social & ecological flourishing, a change in the underlying monetary structure is required. What most individuals still miss in modern society is that the money truly runs everything, not the politicians, policy makers, or "leaders". Economic systems rel upon the individuals participating within it, so if those same individuals chose to utilize a different monetary system, a power shift can take place.
Through widespread adoption of Bitcoin as a long-term store of value, and Ampleforth as a day to day unit of account and transactional currency, suddenly a complete monetary system can be seen in which new economic theories can be built. To reiterate the opening comments of this article, de-growth is not necessarily a consistent reduction in GDP but rather a reevaluation of the actual value & success metrics of the economic system. By utilizing a cryptocurrency-based monetary system, decentralized control over said monetary system can then be leveraged to invest directly into projects, organizations, and communities with the goal of improving the two underlying lifelines of any economy: the people and the environment in which they reside.
Makings of a New Economic Theory
The basis of a new economic system can be drawn from the above sections. The Bitcoin protocol is arguably the single greatest tool ever conceived by and given to humanity. Additionally, AMPL , the rebasing currency of the Ampleforth protocol, is to date the best single unit of account that is highly scalable, easily exchangeable, and inherently unbreakable. Combining these two protocols, one can create a monetary system unlike any the world has ever seen. Decentralization is the key to a sustainable, long-term human civilization.
This can be achieved through Bitcoin and Ampleforth. Within a new model, Bitcoin be utilized as a form of digital value storage in which individuals, institutions, communities, and regions can store built value into Bitcoin. That value can then be converted and exchanged in the form of AMPL for goods, services, investments, and other projects within the economic system.
Additionally, an important aspect of a new system of this sort is the necessity of voluntary participating within the governance of said economic system. No individual should be forced to participate in the model nor should they be subject to its policies and laws simply by being born into a geographical area. This way, the concept of true individual freedom is upheld while still offering an organized, methodical approach to society building that anyone can ask to join at any time.
Summary
The most important thing to note about this article is the fundamental understanding that no mater what the monetary and economic ideology is, the underlying building blocks are always the same. An economy cannot exist without people in which to participate and run it. Additionally, an economy cannot exist without the fundamental resources in which to utilize for it (the environment).
Thus, the protection and flourishing of these two key areas in detrimental to the long-term success of any economic ideology. Current western economics falls notoriously short of this. The reason western capitalism is self destructive is due to the very nature of the ideology eroding the fabric of the two building blocks in which it relies upon. This is obvious through the worsening, widespread income inequality in both individual nations and the world. It is obvious in ongoing, rapidly intensifying global climate change in which the biosphere is quite literally collapsing. An immediate reversal of current ideologies is required to ensure the longevity of the current human civilization in which we all reside.
Author's Note
I am not actually a fan of the term de-growth. I believe the term growth can be redefined just as any other term can. Instead of growth being tied to monetary gains and rising GDP, new value metrics can be established that incorporate social justice, human flourishing, and ecological sustainability into the fundamental success of the economy.
When these value metric are increasing due to increased human and environmental flourishing, economic growth (and success) is being achieved. When human or environmental flourishing is diminished, the economy is less successful and is experiencing de-growth. It is important to note that definitions are not absolute. They can be adjusted or completely changed within new ideological frameworks to include the most up to date knowledge and thinking. It is just a matter of changing the current human mindset.
Thank you all who have read & supported my content up to this point!
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