Det danske Fredsakademi
Kronologi over fredssagen og international politik 5 januar
2013 / Time Line January 5, 2013
4. Januar 2013, 6. Januar 2013
Falliterklæring ; Danmark
Den danske stat erklæres bankarot efter deltagelsen i
Bankruptcy Declaration; Denmark
The Danish government declared bankarot after participation in the
Napoleonic wars, 1813.
Déclaration de faillite, Danemark
Le gouvernement danois a déclaré faillite
après avoir participé à des guerres
Quiebra Declaración; Dinamarca
El gobierno danés declarado en quiebra después de su
participación en las guerras napoleónicas, 1813
Konkurses Erklärung, Dänemark
Die dänische Regierung erklärte nach der Teilnahme an der
Napoleonischen Kriege, 1813 Konkurs.
Economic Predictions For 2013
By John Scales Avery
New year speeches, such as the ones made by the Danish Prime
Minister, Helle Thorning-Schmidt or Germany's Chancellor, Angela
Merkel, acknowledged that the world is experiencing an economic
crisis. According to these speeches and others made by politicians
as the old year turned to a new one, 2012 was a year of crisis, but
hopefully 2013 will be better. Hopefully economic growth will
return in 2013.
What was lacking in the new year speeches, and also lacking in the
entire spectrum of the mass media, is a truthful analysis of what
has caused the economic crisis and how to deal with it.
Politicians, economists and the media say “hopefully growth
will return in 2013”. No one dares to say that the world is
nearing the time when economic growth will have to end, because
limitless growth on a finite planet is a logical impossibility, and
because the limitless growth of population and industry is
destroying the planet.
Why is economic growth so sacred that it is forever exalted, in
defiance of logic? Perhaps the answer can be found in the world's
banking system, which is built on the practice of fractional
reserve lending. When you or I deposit money in a bank, the bank
keeps only a fraction of this deposit. The rest is lent out. By
this practice, the banks are coining their own money.
Apart from the fact that the right to coin money ought to be
reserved to governments so that benefits from expansion of the
money supply can be used for social services, the practice of
fractional reserve banking is dangerous because it only works in a
growing economy. If an economy contracts, and depositors ask for
their money, banks collapse because they do not have it. They have
lent it out. This is the situation that we are facing today.
What happens when the world reaches the limit, beyond which
economic growth is no longer possible? (Perhaps we have already
reached this limit.) Can we devise a system that works, even
without economic growth? This the challenge and opportunity that
faces us today. We need an entirely new economic system.
Whether we call it Equilibrium Economics, Ecological Economics or
Steady-State Economics, the new system will represent a complete
break with the past, and it will require a new system of values. It
will need both a social conscience and an ecological
Instead of being driven entirely by the profit motive, the new
economic system will aim for full employment for everyone who wants
a job. This employment must be in activities that will not harm the
global environment. The shift from fossil fuels to renewable energy
represents one such employment opportunity. Others can be found in
reforestation, soil conservation, agricultural research, recycling
of resources, increasing energy efficiency, and in creative
artistic and scientific work. Strong governmental involvement in
these activities will be needed.
Since the time of Adam Smith, self-interest has been the mainspring
of human economic activity. What is required today is a change of
values, so that instead of being motivated by selfishness, people
throughout the world will work for the common good.
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