Paul Grignon's 'Money as Debt'
Already as a high school student, Paul Grignon understood that practically all the money in circulation is created as debt—hence, because of interest, it is forced to grow exponentially. Intuition suggested him that anything that grows exponentially cannot be sustainable; and can it be just?
Already as a high school student, Paul Grignon understood that practically all the money in circulation is created as debt—hence, because of interest, it is forced to grow exponentially. Intuition suggested him that anything that grows exponentially cannot be sustainable; and can it be just? He asked himself: How did this odd way of managing the world's affaires at all come about?
REFLECTION: Can you answer that question? How did the money flow as control mechanism originate? How well does it serve in that role? Reflect on Grignon's animated film Money as Debt,
and explore the associated website. Are you convinced by Grignon's argument that an economy that is based on a monetary system like ours is inherently non-sustainable.