The "Real" Tragedy of the Commons: Can a Dual Currency System Achieve a Pareto-superior Equilibrium?

Global common public goods (like quality education, clean energy and gender equality) formed the basis of the 17 Sustainable Development Goals (SDGs) agreed by world leaders in New York in 2015. In this video, noting that proposed levels of investment in SDGs are grossly insufficient, STEFAN BRUNNHUBER argues that a redesign of our monetary system would make realization of the SDGs more likely. Analyzing the ways in which prevailing models lock us in to inefficiency, Brunnhuber proposes a redesign of the monetary system whereby a dual currency operating on fourth generation distributive ledger technology would operate in parallel to the existing regime. With much greater potential to recognize the actual worth of common goods, the new system would not only bring economic benefits but would allow us to live in a more sustainable, more peaceful and a fairer world.

DOI:

https://doi.org/10.21036/LTPUB10663

Researcher

Stefan Brunnhuber is Medical Director of the Diakonie Kliniken Zschadrass (Colditz/Saxony, Germany) and is Chief Medical Officer of its Hospital for Integral Psychiatry, Psychosomatics, and Psychotherapy. An endowed Professor for Psychology and Sustainability, Brunnhuber holds an additional Ph.D. in Socioeconomics (under Sir Ralf Dahrendorf) and has two decades of experience in the fields of psychology and finance. He is a Member of the Club of Rome, Trustee of the World Academy of Art and Science and Senator of the European Academy of Sciences and Arts. Specialist research interests include the Psychology of the Anthropocene, Finance and Sustainability and Integral Mental Health. Co-author of one of the most successful psychiatry textbooks in Germany in the last 20 years, Brunnhuber’s latest books are "The Art of Transformation" (2016), "The TAO of Finance" (2018), and "The Open Society in the 21st Century" (in press).

Hochschule Mittweida - University of Applied Sciences (Hochschule Mittweida (FH))

Original Publication

Jenseits des Wachstumszwangs - Zum Verhältnis von Energie, Kapital und Arbeit

Stefan Brunnhuber

Jürgen Grahl

Published in 2006

Economics as an Evolutionary System

Bernard Liétaer

Stefan Brunnhuber

Published in 2005

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