responds

JSH:

  Markets are the head on complex transactions between products and consumers since the consumers are the ones who buy the products off the market. The consumers rely on those in charge of businesses to provide supplies that they cannot go out and get themselves without the market having it available. This increases the availability of products that can be sold thus making everything easily accessible to those who have the money to pay for it.

            In japan when the sugarcane market crashed that left many sugarcane farmers in trouble with no good source of income that they can use to provide for themselves, this lead to an increase of those in poverty that required the Japanese government to step in and to set up relief efforts. They set up a trade system of brown sugar so in the long run they can provide for themselves and not have to rely on the government. The Japanese government established trade with the Philippines islands so that way they can establish a good connection with them, making the trade work for both sides so in the end both sides benefitted from the arrangement, not just one side.

            Ethnic consumer guides are available to consumers to see how ethical a product that tey are buying is. It also informs the buyer about the company responsible for the product so they can decide if they are ethical or not. This allows the option of free choice to expand further since the people will now know if something is good or if it is bad, allowing them to make choices based on their preferences and what they might support.

            There are plenty tools for encountering people that are explained in this reading that have to deal with the market. First one being are my needs and the needs of the other being met? Then it goes am I connected with others directly? Then it goes am I taking what I need? The next one is are there ways I can give back to help the others needs? Then the next one is are there other ways that I can share? Then the more moral ones go as are the animals being treated humanely? Then are the environmental impacts of the products addressed? Then is the well being of people taken into account? Then are the politics just? Then finally its does the product have neutral or positive impact?

ZW:

The finance’s definition can be the commercial activity of funds and capital, the branch of economics that studies the management of money and other assets, or the management of money, credit, banking, and investments. In this chapter’s description, “finance” refers to money, saving, investment, taxation, budget, debt, and risk management. It is associated with many institutions like banks, insurance companies, credit unions, stock market, and so on. After the global financial crisis in 2007, people all over the world had to confront the fact that everyone’s life is touched by this economic reality called finance.

The Mondragon Cooperative Corporation (MCC) is mentioned in this chapter as an example of redeploying savings toward its community future. MMC invest their surplus in La Caja Laboral, they are consolidating savings to secure a decent future for themselves, their children, and the region. Their Working People’s Bank offers a safe and secure repository that redeploys funds toward regional sustainability. Just like John Ballantyne says in the News Weekly: “Unlike the post -GFC zombie banks of Wall Street, which have been put on government life-support to the tune of hundreds of billions of US taxpayer dollars, Mondragon stands on its own feet and sponges off nobody”

       Investing in the future is a key concern of a community economy, it means taking action now to ensure that our descendants can survive as well. It means building up our commons and circulating new wealth so that it supports sustainable modes of living with each other and also the earth. Taking a far-sighted approach, investing now for our future benefit.

      There are four collective action tools for investing in different futures. First, we have “participating in Peer-to-Peer Finance”, which allows people to directly connect with each other without going through an intermediary, and it provides direct support to those in need of funds. Second, there is “Do-it-yourself Finance”, where other resources can be mobilized to help build a better future for people and the earth, it finds opportunities for groups to raise their own finances. Then it is “Supporting community finance institutions”, which is investing in institutions that prioritize building others’ futures. At last we have “Promoting ethical investment” which means investing in mainstream financial institutions that use ethical investment, and “Redirecting government revenue toward life-sustaining rather than life-destroying activities.” With all of those, there’s no reason to not believe we can invest for a better life in the future.

DTB:

1. What is work?

Work is what we do for a living, it is what we do to survive. In a general sense, work is what it is that we do with our days and it is a large part of our identity. Our work has a large impact on many other aspects of our life as it can make people feel either happy and fulfilled, sad and disheartened or somewhere in between.

2. What does it mean to survive well (and surviving well collectively)?

Surviving well means to be able to live a life where we focus first and foremost on our own wellbeing, the wellbeing of others and the wellbeing of our planet and focus less on working more simply for the gain of material things. Today it seems most are living life the other way around. Surviving well requires a mix of different elements of wellbeing.  Surviving well collectively means that we as fellow humans think and act ethically in relation to each other and the environment.

3. What are the tools for surviving well?

There are 3 main tools identified in the chapter that can help us to survive well. Firstly, "the 24 hour clock" on which the total hours of different kinds of activities are recorded. Secondly, theres the "wellbeing score card" on which the five types of wellbeing are rated on a scale from one to three. Lastly, we have "a balance scale" on which we record how labor time spent earning money is balanced with labor times spent on other types of wellbeing such as social, community and physical.

RJT:

In Latrobe Valley, Victoria a project was put in place that aimed to create community and economic development. There were four community initiatives that were put in place. The first being the formation of a not-for-profit environmental garden that was established as the Latrobe Valley Community Environmental Gardens.  The next approach Latrobe Valley took was by opening a Santa’s Workshop where they raise money for local residents to make their own decorations in the pre-Christmas period. Then the Latrobe Community Workshed was established where residents could use the workshed to restore furniture and make wood products. Also a Latrobe Cyber Circus was started up which ultimately helped unemployed young people with performance arts skills. 

Latrobe Valley, Victoria was able to challenge familiar understanding of disadvantaged areas because of the approach they took. They sought a new way of addressing social and economic issues. During the two-year span of the project they accomplished a lot and were able to show the critical role of local agencies in these types of efforts. They ultimately took the time to develop four very different programs for the efforts of these marginalised groups. These programs were very useful in helping develop important relationships in the community.

After these four programs the community looks forward for more projects. A few changes however should be made in developing new opportunities. For example a crucial aspect that they underestimated with the first four initiatives was that they did not build strong relationships with local institutions like councils, churches, and unions. There is overall a lot of information to take away from these programs which helped the Latrobe Valley’s community and economic development in unusual ways. 

DWS:

Our economy is driven by the state, big industries, and rich and powerful people. These influences on our economy are the ones that can make change to alter what they desire. The book had stated that “We do not need to go along with framing the economy as a machine governed by immutable laws and mechanical principles”. These laws and principles are affected by the three major influences by manipulation regulation, markets and values. This relentless course is driven by the actions of self-interest and the greed that drives people to have more than the next person. What this chapter focuses on is the notion that our economy needs to be a diverse economy and have all the implementations of this economy to help secure our ecological and economic future.

            This chapter talks about if a diverse economy was implemented in our nation then the unforgiving repercussions of our economy today would diminish. A diverse economy would present activities and practices that would be able to modified to benefit the greater good. The text stated that there are “…many roles to assume and many opportunities for action”. Essentially a diverse economy has several different revenue strings and provides a nation with the capability for sustainable growth because there is not a reliance on a singular type of revenue. People would be able to make change without such big parties or people having such an impactful say. There is greed within our system today that blocks having something like a diverse economy. Everyone is competing to get a better deal than the next person which causes a problem. Now we can say that if there was no greed causing no competition then there would be no problem, right? But there is an issue that would present itself. This fixed pursuit that people drive for is our nations very definition of freedom. So, if we take the greed causing this fixed pursuit then we are essentially taking away a constitutional right. I think that a diverse economy would benefit our economic system. I also think that with any other option for a different economy, including this one, will present many issues.

            We can look at nature to help further our understanding and ideas of what our economy should model. Yes, our economy isn’t natural but the concepts of how our natural world functions can model the concepts of our economy. All life forms have relationships with the land they live on and the animals they encounter. This creates relationships as well as competition among species. Symbiosis and natural selection create a complexity of systems that let species respond and recover to threat creating a certain type of relationship. The chapter had identified that the more complex relationships and parallel functionalities the more likely a community, or an individual, will survive. Therefore, diversity produces resilience. Within our economy, we need to open all the relationships that make up economic life and apply it. An example in the book had said that amphibians are sensitive to the slightest amount of change. It was said that we should be like frogs and other amphibians when it comes to our ecological and economical habitats.

            Interdependence in a diverse economy was described in many examples. As unpaid domestic house labor increases then it helps stretch wage payments that come into the family. Or with increased wages, poor farmers can send women to school which can cause lower birth rates and slow population growth due to women having and focusing careers, not families. The book identified this as “Initiatives for change can reverberate and resonate, having much greater impact than initially thought”.

            Our economy would benefit greatly from a diverse economy. Such things like greed causes issues like enterprises focusing on their private profit in the market and not the people or their impact in the earth. Having this diverse economy will help aid our ecological and economical future.