Mutual Guarantee as a Practical Solution

Monetary and fiscal attempts of unprecedented scope over the last few years have not driven the global economy out of its deep crisis...

The current economic and financial crisis is on the mind of every economist and decision-maker throughout the world. Almost against their will, they have come to terms with the fact that a global shift is happening, the outcome of a world-turned-global-and-connected, where each person and each country affects and is affected by all the others. In our new world, all of us are part of a single, global, continuously tightening network of economic, financial, and social ties—some overt, some covert...

Presidents, prime ministers, finance ministers, and chiefs of central banks throughout the world have been trying to heal the global financial markets and the economy since 2008...

Two key problems exemplify the failed attempts to rescue economies from the global crisis...

To tackle the crisis of 2008, three rescue plans of unprecedented magnitude were launched, the first by the Bush administration, and the latter two by President Obama...

In Europe, too, the European Central Bank (ECB) dropped the interest rate in the Eurozone from 4.25 to just 1 percent, but that also proved futile...

After more than three years of failed attempts to heal the economies and financial markets throughout the world, it’s clearly time for us to reexamine our tendency to apply familiar, yet evidently ineffective solutions to the current problems...

The new, mutual guarantee economy has several advantages. It is the only one that allows true and sustainable social justice to exist between the state and its citizens, and between states. A mutual guarantee economy will be steady, characterized by substantial voluntary diminishing of social and economic gaps, and a decline in the cost of living...

The key to shifting our relationships in a better direction lies in informing and educating children and adults alike...