PARTYSMART - Key Persons

Adam Morrow

Job Titles:

Member of the Board of Directors

Ana Maria Gallegos

Job Titles:

Member of the Board of Advisors

Bank Money dollars are used also as the unit of currency in accounting systems for commerce among businesses. Other currencies may be used just as easily, as often they are. Such mutual credit systems facilitate local, national, and global commerce. By excluding people from the mutual credit system (which is both typical and unreasonable), and by labeling people merely as consumers and workers, we introduce artificial inflows and outflows of money into the mutual credit system. However, inflows and outflows are impossible in a true mutual credit system. In order to balance the inflow of money from "consumers," and the (generally smaller) outflow of money for "external costs" such as labor, imported materials, interest and taxes, we must introduce yet another artificial outflow of money called "free cash flow," the unallocated portion of net profits. When we allow for these inflows and outflows, we are not using a true mutual credit system. In some parts of the world, true mutual credit systems exist, which are not restricted to use by businesses, but allow people and local government also to participate. It is no wonder that central banks and central governments disapprove of this, as it may interfere with their ability to collect interest and taxes. However, mutual credit systems should not be dismissed out-of-hand, because their use does not lead inevitably and directly to the social and ecological disaster inherent in the debt and interest-based global financial system. By allowing people and local government to participate in community-based mutual credit systems as buyers, sellers, workers, service providers, and generally, as investors in the community, we gain the ability to understand the flow of money into and out of the community. By "internalizing" as much as possible of the flow of value within the local economy, we take responsibility for building the self-reliance of the community. By accounting separately for local and external flows of value, we gain the ability to re-focus our efforts in ways that strengthen our community and reduce our external dependencies and environmental impacts. We can use a mutual credit system, such as T-Cash/C-Cash (which see below), to account for local commerce and even for profits invested in capital assets for local production. Obviously, we are constrained to use F-Cash for external cash flows and for profits invested elsewhere.

Brandon Taylor

Job Titles:

Treasurer of the Board of Directors

George Greer

Job Titles:

Medical Director / Heffter Research Institute

John E. Ikerd

Job Titles:

Professor Emeritus of Agricultural Economics, University of Missouri Columbia

John E. Ikerd, Professor Emeritus of Agricultural Economics, University of Missouri Columbia. Sustainable Capitalism: A Matter of Common Sense (book, 2005). The Case for Common Sense: An Ecological, Economic, and Social Revolution (book, 2004). Reclaiming Our Food Sovereignty from the Global Economy (article, 2005). Toward an Economy of Sustainable Energy (article, 2005). Sustaining the Sacramental Commons (article, 2003). Sustaining Communities Through Urban Agriculture (article, 2001).