Mediated Economics (The Monetary Culture System) in Developing Countries - ACA 082
As used in this course, “mediated economy” is a term given to an economy facilitated or mediated by some means of exchange for transactions to take place. Over the millennia, these means of exchange between and among concerned parties take forms that were cultural (e.g. value), religious (spiritual beliefs), economic (money), political (power, military), and social (prestige, belongingness) in nature. Historically, it could be theorized that economic transactions were first mediated by the value system or social relations that prevailed during the period. Then, as transactions became broader and diverse, this ancient value-based mode gave way to the barter system, which was marked by direct exchanges of goods and services between peoples and nations. As the economy grew and became more complex, the barter system became very inconvenient, giving rise to paper money and coinage which prevailed to this day.
Economics here deviates from the conventional theory which views it in the context of scarcity. This course develops an alternative paradigm that looks at economics and resources from the perspective of abundance.
At the end of the course, the student is expected to:
1. Understand the development of a mediated economy and its impact to today's globalizing world;
2. Understand the various monetary theories that are vying for world power and dominance today; and
3. Formulate ACA's alternative monetary paradigm.
Overall, there are more or less 15 topics given for this course. The number of topics corresponds to the average number of sessions set for one semester. These topics are given below.
1. Origins and Development of Mediated Economy
2. Economics of Scarcity
3. The Garden of Eden (GE) Economy
4. The Economics of the Honeybees
5. Accessing Cosmic Abundance
6. Globalization and Its Impact on the Developing Economies
7. Energy Resources and Sustainable Development
8. Alternative Monetary Paradigm
9. Application of the Alternative Monetary Paradigm
1. Introduction to Culture
2. Culture in the Biosphere
3. Culture, Civilization, and Development
4. Cultural Diversity, Monoculturalism, and Globalization
5. Schools as Shapers of Culture
6. The Role of Mass Media in the Transformation of Culture
7. The Role of Religion
8. The Role of Politics, Leadership, and Governance
9. Culture, Development, and Spirituality
Bock, Kim Yong. 1993. "Faith and World Economics." Makatao. Vol. XII, No. 2. Pp. 11-18. Traces the political economic history of the Asian people and their struggle against their societies' unjust and exploitative economic and social order that goes against God's plan for his people. Proposes an alternative economic paradigm that is people-centered and which stresses that people should be subjects in economic life.
Brown, Norman O. 1959. Life Against Death. Connecticut: Wesleyan University Press.
Buchan, James. 1997. Frozen Desire: The Meaning of Money. Farrar Straus & Giroux. Pp. 256. Offers audits of the mediums of exchange humankind has used and abused down through the years. Characterizing money as "incarnate desire", the author compares the dichotomous teachings of Jesus with those of Muslim prophets. He indicts money as the principal cause of environmental destruction, global warming, overdevelopment, perpetual conflict, and other ills to which modern civilization is heir. An extended, sententious meditation on the meaning of money across the centuries explores how money symbolizes human desires, how it has driven history, and the uses---moral and immoral---to which it has been put. As the author sees it, money is "frozen desire'---and because it can fulfill any mortal purpose, for many people it becomes the purpose of life, as seen in this lively view of money across the centuries.
Chewning, Richard C. (ed.). 1989. Biblical Principles & Economics: The Foundations. Colorado: NAVPRESS. Examines the principles of the Scripture that bear on our choice of an economic system. It tries to answer the question: Which economic system is in closest harmony with God's biblical aims and sets free the positive and constructive aspects of our human nature, while constraining the negative and harmful tendencies of our fallen nature?
Davies, Glyn. 1996. A History of Money from Ancient Times to the Present Day. Cardiff: University of Wales Press. Pp. 716. Revised edition.
Davies, Roy and Glyn Davies. 1999. A Comparative Chronology of Money: From Ancient Times to the Present Day. Cardiff: University of Wales Press. A complete annotated chronology of monetary and financial history from ancient times to the present.
Davies, Roy. 1999. "Democracy and Government Control of the Money Supply."
Dejillas, Leopoldo J. 1996. Economic Policy and the Market Economy: The Philippine Setting. Makati City: IDRS and KAF. 1996. Pp. 190.
Dejillas, Leopoldo J. 1993. Christian Democracy and Social Market Economy. Pp. 147. Propounds that "social market economy" is deeply rooted in the Christian social teachings and pursues the tri-dimensional market objective of growth, stability, and social equity. Social market economy is used as a framework for analyzing Philippine economic realities and for constructing an alternative program of government.
Dejillas, Leopoldo J. 1988. "The Dignity of Work." Delivered before the participants of the Conference on Work, Harmony and Dignity held on 4-12 December 1988 in Baguio City. Manila: BATU. Pp. 23-27.
Dormael, Armand van. 1997. The Power of Money. New York: New York University Press. Pp. 176. Focusing on the Euromarket, the author introduces us to the players, the abuses, and the behind-the-scenes machinations for control of the global economy. Van Dormael delineates how interbank lending in the 1990s led to what we now term global banking, and how the inept decisions of world leaders in matters of economics have led to some of our planet's greatest tragedies.
Drucker, Peter. 1987. World Goodwill. No. 3.
Giulio, Maestro and Betsy C. Maestro. 1995. The Story of Money. Mulberry Books. A history of money, beginning with the barter system in prehistoric times, to the first use of coins and paper money, to the development of the modern monetary system.
Friedman, Milton. 1962. Capitalism and Freedom. Chicago: University of Chicago Press.
Hamilton, Clive. 1994. The Mystic Economist. Australia: Willow Park Press. Exposes the innermost core of modern economics and its influence on our lives. The book argues that economics, far from being the study of how to make us better off, reflects and promotes the very attitudes and behaviors that prevent us from living fulfilling and contented lives, and that unless we begin to struggle against both the economic thinking that dominates the outer world and the "economist within" we cannot turn from the path of ecological suicides.
Hoagland, Jim. 1999. "Is the Global Economy Widening the Income Gap?" The Washington Post. April 27, 1999.
Ito, Takatoshi. 1999. "Is this the End of the Asian Model?" A paper presented on the occasion of the 32nd Annual Meeting of the Asian Development Bank. Manila: ADB.
Java. 1998. "What is Money?"
Johnston, Douglas and Cynthia Sampson (eds.). 1994. Religion, The Missing Dimension of Statecraft. New York: Oxford University Press. Explores the positive potential of religious or spiritual influences in politics, specifically in resolving conflicts. Presents case studies that span the globe (Europe, Central America, Asia, and Africa) to illustrate a broad spectrum of involvements by religions actors in politics and the application of religious factors to political problems.
Land, Richard D. 1989. The Ethics of Love Can Succeed in the Marketplace In R. C. Chewning, supra, pp. 266-276. Advances that the Christian ethics of love (agape) can be carried successfully into the marketplace.
Longenecker, Richard N. 1989. "O Tempora! O Mores! --- On Being a Christian in Business Today." In R. C. Chewning, supra, pp. 250-263. Discusses the nature and quality of Christian ethics as the author's basis for viewing the world of business. In so doing, he presents perspectives and strategies as guides for Christians in carrying out business.
Mar, Alexander del. 1985. History of Monetary Systems. Excerpts.
McKinney, Joseph A. 1989. "The Public Sector and the Poor." In R. C. Chewning, supra, pp. 226-246. Investigates the redistribution efforts of the government in addressing the issues of poverty.
McLaughlin, Corinne and Gordon Davidson. 1994. Spiritual Politics: Changing the World from the Inside Out. New York: Ballantine Books. Represents the authors' understanding of the Ageless Wisdom tradition applied practically to world events. The insights shared in the book have grown out of their experience of putting these principles and techniques into practice. The book offers an approach that turns inward for understanding and interpreting reality. It is a product of the authors' search for a new paradigm to understand current events, one that allows us to see and learn from the inner side of world events. See Chapter 13 "The New Planetary Economics," pp. 325-355 and Chapter 14 "Planetary Stewardship and Human Empowerment," pp. 356-386.
Moore, T. M. 1989. "The Private Sector and the Poor." In R. C. Chewning, supra, pp. 211-225. Examines the problem of poverty from the perspectives of the private sector and its responsibility to the poor.
Nash, Ronald H. 1989. "The Subjective Theory of Economic Value." In R. C. Chewning, supra, pp. 80-96. Contends that economic value is entirely subjective, existing in the mind of the person who imputes value to the good or service.
Nymeyer, Frederick. 1956. "What is Money." Progressive Calvinism League.
O'Connor, John J. (n.d.). "TV: The World of David Rockefeller." The New York Times.
Osborne, David. 1988. Laboratories of Democracy. Boston: Harvard Business School Press.
Osborne, David and Ted Gaebler. 1992. Reinventing Government. Reading, Mass.: Addison-Wesley Publishing.
Pebbles, Gavin. 1992. A Short History of Socialist Money. Paul & Co. Publishing Consortium.
Ramirez, Mina M. 1991. “Reflections on Culture.” ASI Occasional Monograph 2. Manila: ASI Communications and Publications Office.
_______________. 1993. “The Filipino Worldview and Values.” ASI Occasional Monograph 4. Manila: ASI Communications and Publications Office.
_______________. 1996. Monetary Culture and the Challenges of Equality. Manila: ASI Monographs. Paper presented at the First Plenary Session of the Pontifical Academy of Social Sciences, November 24-26, 1994. It was published as part of the proceedings by the Pontificiae Academiae Scientiarum Socialum, Vatican City, 1996. The monograph explores monetary culture including the interrelated set of historical and current factors, which cause the gap between the universal belief of human equality and the reality of social inequalities. Presents challenges that must be faced in order to redeem the monetary culture and enable an economic and social system that is life-giving not just to a few.
Ross, Kelley L. 1998a. "Money, Value, and Monetary History after Milton Friedman."
__________ 1998b. "Money in Plato's Apology of Socrates."
Rubin, Barry. 1994. "Religion and International Politics." In Johnston, D. and C. Sampson, supra, pp. 21-34.
Skaggs, Kevin S. 1997. The Forms of Money. An independent research paper weaving historical and conceptual facets of money into a comprehensive, big picture understanding of money, providing insight to the past, present, and future, organizing and clarifying the system of money, moving beyond capitalism, communism, socialism, and totalitarianism, simplifying and clarifying the very concept of money, and confronting the present form of money.
Schwartz, Anna Jacobsom and Milton Friedman. 1987. Money in Historical Perspective (National Bureau of Economic Research Monograph). Chicago: University of Chicago Press. Pp. 442.
Vendley, William and David Little. 1994. "Implications for Religious Communities: Buddhism, Islam, Hinduism, and Christianity." In D. Johnston and C. Sampson, supra. Pp. 306-315.
Wade, Robert. 1999. "Lessons from the Asian Crisis." A paper presented on the occasion of the 32nd Annual Meeting of the Asian Development Bank. Manila: ADB.
Weatherford, Jack. 1997. The History of Money. Crown Pub. Pp. 293. Delves into the fascinating connections between money and history, about how Greek civilization came into being through the concept of abstraction money represented, about the etymology of salary from the salt with which Roman soldiers were paid, and pecuniary from the word for cattle, a commodity with which much of Eurasia gauged wealth.
Williams, Jonathan, Joe Cribb and Elizabeth Errington (eds.) 1998. Money: A History. Griffin Trade Paperback. Pp. 256. Looks at the growth and development of ancient monetary systems and the origins of coinage. A fascinating survey of the roles played by various cultures in the concept and evolution of money and exchange. From the exchange systems of earliest times to the increasingly cashless society of today, the history behind money is a set against a background of broader issues such as moral, political, and religious attitudes to money in different cultures. Contains essays covering ancient and modern coinage in global perspective, and relating the moral, political, religious, and social meanings inevitably associated with so powerful a force, money.
Zelizer, Viviana A. 1997. The Social Meaning of Money. Princeton University Press. Thought-provoking challenge to the utilitarian assumption that money is simply an impersonal medium of exchange. Draws on a wealth of unconventional sources to show that money is a many-splendored instrument with both cultural and economic significance. The author argues that money is a single, impersonal instrument that impoverishes social life by reducing social relations to cold, hard cash.