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Book Review: Rethink Money by Bernard Lietauer and Jacqui Dunne

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Rethink Money: How New Currencies Turn Scarcity Into Prosperity by Bernard Lietauer and Jacqui Dunne is an excellent book on the alternatives of employing currency. These barterlike transactions are designed to increase business activity in local neighborhoods which require a multitude of unique services. The purpose is to strengthen the local economy, provide jobs, serve unmet needs and utilize resources which would otherwise be unused or underutilized.

The authors explain the mechanism which is a local exchange trade system providing mutual credit in exchange for a whole host of service credits for things that are really needed. An example is a timebank for seniors for services like local taxis or home repair. The idea is for the senior to accumulate service credits in one area like volunteering in order to obtain a vital service like home repair or free rides to the local shopping center.

Berkshire, Massachusetts has an exchange program which allows the purchase of $100. of Berkshire shares for $95.00. This slight discount of the local currency in effect lowers prices to attract more business to the locality.

Banco Palmas has an innovative program of disaggregating consumption and production loans to facilitate getting money to borrowers sooner. Kosta Grammatis of Palo Alto, California links community services to donated internet time in order to make the internet more available throughout many communities.

Rethink Money is an innovative book which teaches ingenious ways to maximize economic activity through services, barter, neighborhood currency models and a whole host of unique arrangements which have proven successful in implementation.

The book transcends the idea of barter alone by covering new and innovative systems of exchange which originate at the local level. The presentation is easy to read and very relevant in today’s global economy. The ideas in this book are only a limited cure for unemployment and underemployment. The exchange systems discussed will take pressure off local communities by gainfully employing people in needed services in exchange for service credits for goods and services truly needed.

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About Dr Joseph S Maresca

I've taught approx. 34 sections of collegiate courses including computer applications, college algebra, collegiate statistics, law, accounting, finance and economics. The experience includes service as a Board Director on the CPA Journal and Editor of the CPA Candidates Inc. Newsletter. In college, I worked as a statistics lab assistant. Manhattan College awarded a BS in an allied area of operations research. The program included courses in calculus, ordinary differential equations, probability, statistical inference, linear algebra , the more advanced operations research, price analysis and econometrics. Membership in the Delta Mu Delta National Honor Society was granted together with the degree. My experience includes both private account and industry. In addition, I've worked extensively in the Examinations Division of the AICPA from time to time. Recently, I passed the Engineering in Training Exam which consisted of 9 hours of examination in chemistry, physics, calculus, differential equations, linear algebra, probability/ statistics, fluids, electronics, materials science/structure of matter, mechanics, statics, thermodynamics, computer science, dynamics and a host of minor subject areas like engineering economics. A very small percentage of engineers actually take and pass the EIT exam. The number has hovered at circa 5%. Several decades ago, I passed the CPA examination and obtained another license in Computer Information Systems Auditing. A CISA must have knowledge in the areas of data center review, systems applications, the operating system of the computer, disaster recovery, contingency planning, developmental systems, the standards which govern facility reviews and a host of other areas. An MBA in Accounting with an Advanced Professional Certificate in Computer Applications/ Information Systems , an Advanced Professional Certificate in Finance and an Advanced Professional Certificate in Organizational Design were earned at New York University-Graduate School of Business (Stern ). In December of 2005, an earned PhD in Accounting was granted by the Ross College. The program entrance requires a previous Masters Degree for admittance together with a host of other criteria. The REGISTRAR of Ross College contact is: Tel . US 202-318-4454 FAX [records for Dr. Joseph S. Maresca Box 646 Bronxville NY 10708-3602] The clinical experience included the teaching of approximately 34 sections of college accounting, economics, statistics, college algebra, law, thesis project coursework and the professional grading of approx. 50,000 CPA examination essays with the American Institute of Certified Public Accountants. Additionally, membership is held in the Sigma Beta Delta International Honor Society chartered in 1994. Significant writings include over 10 copyrights in the name of the author (Joseph S. Maresca) and a patent in the earthquake sciences.
  • padabrad

    would you know if a promissory note to bearer on demand would be a viable bill of exchange