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Frontiers of Commoning, with David Bollier
WIll Ruddick on 'Commitment Pooling' to Build Economic Commons
Mar 1, 2024
Will Ruddick discusses 'commitment pooling' in creating community currencies to empower marginalized African groups. The evolution of community currency systems is explored, highlighting the shift towards collective ownership and stewardship. The podcast advocates for redefining ownership through traditional practices in economic commons and breaking free from the wage slavery system.
52:00
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Quick takeaways
- Community-based currencies empower marginalized communities through commitment pooling.
- Rediscovering ancient economic traditions fosters equitable and resilient economic systems.
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Building Assets Through Community-Based Currencies
Community-based currencies, pioneered by Grassroots Economics Foundation founder Will Ruddock, enable marginalized African communities to leverage their skills and time. These mutual credit systems operate in various African communities, allowing people to trade goods and services even without much national currency. By re-engineering money through locally created credit vouchers, individuals can meet their basic needs and engage in a system of commitment pooling.
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Listen to the best highlights from the podcasts you love and dive into the full episode