baha'i inspired economics - notes

In the original design for timebanking,

currency is measured in hours of service, and each person's time is considered equally valuable.  Although this idea of equality may seem chimerical [1], it has in fact proven to be practical, useful and dependable, and everyone in a timebank agrees to this modest attitude while participating in timebanking.

In a timebank community, the mutually beneficial win-win game is continually circulating all of the community's abundant always-newly-created wealth (ie, members providing services), while member accounts float around zero between credit and debit.

Each service is recorded (openly in the community) by giving time-credit to the provider's account and time-debiting the receiver's account, so symmetrical exchange ("bartering") is not necessary, and the sum of all accounts in the timebank is always exactly zero.  When members accumulate excessive credit or debit, this indicates an imbalance in community participation, which can be moderated by just doing the opposite (receiving or giving services).

Timebanking is -not- "the usual" win-lose profit-loss

game of secretive competition & endless accumulation, re-valuing and trading of scarce-ified stale depreciating stuff, debts, speculations, etc.

By practicing timebanking, we can better compare the massive mainstream economic system with alternatives, and learn how any community can create a new economic system "from scratch" if necessary, thus empowering community resilience.

Here are the Core Values of Timebanking

as listed on our timebank website [2]...  (different timebanks have some variations in wording, but the basic concepts are consistent around the world)

from Baha'u'llah,

"O Children Of Men!  Know ye not why We created you all from the same dust?  That no one should exalt himself over the other.  Ponder at all times in your hearts how ye were created.  Since We have created you all from one same substance it is incumbent on you to be even as one soul, to walk with the same feet, eat with the same mouth and dwell in the same land, that from your inmost being, by your deeds and actions, the signs of oneness and the essence of detachment may be made manifest.  Such is My counsel to you, O concourse of light!  Heed ye this counsel that ye may obtain the fruit of holiness from the tree of wondrous glory."  - Baha'u'llah, Hidden Words, Arabic 68 [8]

"O Son Of Spirit!  I created thee rich, why dost thou bring thyself down to poverty?  Noble I made thee, wherewith dost thou abase thyself?  Out of the essence of knowledge I gave thee being, why seekest thou enlightenment from anyone beside Me?  Out of the clay of love I molded thee, how dost thou busy thyself with another?  Turn thy sight unto thyself, that thou mayest find Me standing within thee, mighty, powerful and self-subsisting."  - Baha'u'llah, Hidden Words, Arabic 13 [8]

Thank you Jean, Hooshmand, Badi, Selam, Arlette, Betsey, Alan, Samantha, Winona and Kacie for all of your information, stories, and stimulating questions, some very important ideas which are new to me, and useful ways of looking at local and global economics!

Some of my biggest questions

about the current global economic situation are about an underlying economic desperation which makes everything so much more difficult.

I've just learned another way people are saying this: "J.O.B." = "just over broke", which is the best we seem able to do, no matter how good & diligent & hard-working & well-behaved we are...  No matter how much real value we produce, no matter how much money we earn, it all goes right back to "the company store" - rent or mortgage, insurance, interest & fees on more debts and loans, medical bills, car repairs, etc - just so we and our families can keep on driving and working to pay the bills, around and around in the rodent-wheel (aka "rat race")...

Who are we working for?  Where is this coming from?  Who invented this?  Is it God's will?  Is it a universal work ethic?  a capitalist imperialist "work ethic"?  Is it a lack of ethics, compassion, fairness, respect, unity, community and spiritual connection?

Why do the wealthiest people in the world seem so oblivious to the desperation and suffering of the poorest (and everyone in between), and so concerned with taking possession of, and having control over wealth produced by others?  Is it wisdom? responsibility? arrogance? nerdiness? fear? neglect?  (also see Abdu'l-Baha Paris Talks [1], and Wim Wenders "Person to Person" [1a])

Badi has listed some very relevant everyday practices, including "Create a consciousness that your welfare, wellbeing, and happiness depend on the welfare, wellbeing, and happiness of every poor, needy and underprivileged person in the world..." [2]

At this point, after years of various projects & experience, along with prayer, meditation, and patience, here is my plea to God and the world, for a remedy for global economic desperation -

If anyone is ever in need of any of the above resources, it should be considered urgent and remedied immediately!   (and ironically, even "comfortable first-worlders" are seriously missing clean air & water, healthy food, and appropriate medicine...  so we all need to look at this)

Yes indeed this is a big project,

but is anything really preventing us from taking care of it now, and is anything more important?  Maybe 50 years ago it would've been overwhelming, but by now humans have already accomplished projects of certainly much greater complexity & expense (and less value).   (see footnote [4] for some real numbers in 2010)

And by now we certainly have a "critical mass" of spiritually connected people to motivate and guide and work for this.  At this point in the history of humanity, it's only a matter of right intention...  leading to less desperation, more clarity, improved community & spiritual connection, for everyone in the world...

When everyone's basic needs are free,

each person is free to choose how to spend their time, for example - working for the good of society and the world, taking care of one's family, creating beauty in music art architecture etc, running a business for fun & profit, watching tv, getting fooled by dishonest marketing, methodically destroying the ecology, designing & manufacturing weapons of mass destruction, etc...

When no one is driven by economic desperation,

then persons, organizations and projects which are un-ethical or un-conscious will end up with less wealth, power, status and influence, and will hopefully dry up and blow away!  It will be easier to identify them, and easier to avoid empowering them by trading with, working for, or employing them (as long as they remain un-ethical or un-conscious).  And more of humanity's time & energy will be available for good work elsewhere. [5][6]

For those concerned with status and competition, knowing the life-choices people are making voluntarily for themselves is much more significant than counting money!  And poverty can be voluntary and boring, instead of difficult and cruel.

May all beings be well and happy. [7]