We think there could be a better, more just economic system than we have now, that doesn’t put banks and global companies before local businesses and local peoples’ jobs and quality of life. How? Find out below.

In the Transition Exeter Economics Group, we’ve been educating ourselves about the current economy and how it could be different; we’re still doing this, but also want to discuss what we’re learning with more people, and help find projects which will move us towards a low carbon economy, and one which doesn’t have a built in self-destruct mechanism.

Current economic theory and practice accepts the economic growth paradigm (as if there were no limits to natural resources). It has fuelled climate change and brought some marine and land ecosystems to collapse, with many more threatened. The way money is created, mainly by being lent into being by the banks as debt, is a driving force in this damage. Households and businesses struggle to pay interest on their debt, having to increase their material throughput to do so without regard to human happiness or ecological costs. Our money systems are not currently democratically controlled or run to benefit the community (see Money as Debt below). How do we address this? Reform of the financial system is needed. Money systems can be used to help create thriving local economies, reducing leakage through large businesses to national and international profit accounts and the fossil-fuelled long distance transport used to supply our needs and wants today.

Our present economy is like an aeroplane. If it doesn’t move forwards fast it falls out of the sky. We need an economy that moves like a helicopter. The only trouble is, that we have to transform the aeroplane into the helicopter in mid-flight!

Transition Exeter’s Economics group has three aims:

1. to educate ourselves about what a sustainable economy would be like

2. to pass on the information to other people

3. to develop practical projects

We have regular meetings, which are open. To find out more, do get in touch with us.