Britain’s rejection of the Euro agreement may give an indication of the willingness and rate at which countries will adopt NPV as the tool with which to manage their economies.
The current European crisis only underscores not only how much politics and economics are intertwined, but also the pervasive extent to which banking and corporate interests control the fate of nations. British Prime Minister Cameron’s defense of sovereignty is nothing more than a protective move for City of London, Britain’s equivalent to Wall Street, against external regulation. The shared currency is also lending Germany moral authority over Greece’s comparatively laid-back approach. If these enlightened countries cannot co-operate in monetary matters, would they do any better with a universal Net Planetary Value system?
In the first place, there will be no currency, common or national, to give rise to differentials, inflation, devaluation, deficits, or any of the multitudinous variables which give rise to international friction. Each country’s NPV is simply a reflection of what each contributes. It is possible that Greece with its history, archaeology and contribution to the foundation of Western thought, in addition to its other resources, would come out ahead, thumb its nose at Germany, and relax into its more leisurely lifestyle. NPV actually restores a degree of sovereignty to countries, freed from the shackles of banks and corporate interests.
Precisely because financial interests so closely control governments, the countries of the developed west, especially the UK and USA, will be least likely to adopt NPV. Like Iceland repudiating its debt, countries like Greece and the other PIGS could very well decide to opt for a system that gives its citizens universal education and healthcare, feeds and houses them. They would not have to worry about meeting IMF, World Bank or European Central bank conditions, or balancing budgets to engender investors’ confidence. Each country remains free to continue or adopt whatever form of governance its national idiosyncracies determine.
The developing world will readily recognize a good deal where the welfare of their citizens is safeguarded and they are not under the thumb of the money-gougers and resource extractors. The newly formed Community of Latin American and Caribbean States, led by Venezuela, Bolivia and Brazil, expressly omits US and Canadian participation. Resistance to US hegemony and corporate capitalist incursions may be the goad for these countries to abandon the monetary system, regain their sovereignties and release their peoples from wage and debt slavery.