Excerpted from: Value Wars: The Global Market versus the Life Economy. London and Sterling, Va.: Pluto Press, 2002., p 219-220
The Life Economy Manifesto
- Constitutional public accountability of currency and credit creation by 100 per cent reserves for private interest-bearing loans.
- Public authority’s allocation of investment funds, loan credits, interest rates and taxation levels to select for life capital formation.
- Internalization rather than externalization of costs of corporate commodity cycles by conditions of market sales, ban of all commodities of mass destruction, and application of precautionary principles for all market commodities.
- Natural capital inventories and well-being/ill-being index to measure and achieve the true efficiencies of economies.
- Repudiation of all debt of societies incurred without the consent of the indebted people or already paid by debt servicing, and institution of an international currency clearing house to prevent attacks on the means of exchange of sovereign nations.
- Repeal of all transnational trade and investment rules which abolish rights of sovereign nations to capital controls, negotiated performance requirements of foreign capital use of domestic resources, and retention of homeland ownership of natural resources, electromagnetic bandwidths, and public service budgets.
- Binding environmental-protection standards and schedules of accession in all international trade agreements to eliminate emissions of wastes by natural resource extraction, processing and commodities.
- All trade and investment agreements include as conditions of cross-border entry of commodity and commodity-contents into others’ national markets binding accession schedules of labour and social standards on the European Union model.
- International corporate charter binding all parties selling or investing across borders to comply with minimum labour and social security standards, commodity cycle environmental protections, international standards of public communications across borders, minimum level of corporate taxations, maximum level of market share, and international criminal law.
- All loans across national borders be secured by hard-currency reserves deposited in a reserve fund as fiduciary authority for administration and extension of debt issuance in accordance with international standards of life-capital security and development.
Action: self-organizing life-space reclamation across misused arable lands, forests and fisheries, urban concourses and coastal waterways, public education, policy and other life-ground sites in accordance with codified life-standards.