Simulating the five P’s of the local economy has been archived.
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Simulating the five P’s of the local economy
REconomy practitioners knowledge sharing event with Stephen Hinton from Sweden, with LETS originator Michael Linton in Keynote Listener role. Funds raised for this event will support REconomy practitioners activities - thank you, Steve! :) [Note: If you have a reason to attend without sharing some of your money with us, that's OK, just let us know HERE].
Purpose: learn to run a 5P simulation to help people understand the potential of the local economy and the role of currency locally and in general.
Why attend? 5P simulations help you take a step back and quickly gain deep insights into how the local economy works and could work with local currency. By creating your own currency you gain deep insights into how money works that you would otherwise only gain from literature study.
Main contents: Using a form of the complementary currency MINUTOS the simulation goes from a market with turnover and assets of zero to creating functioning market, organisations, products and thriving citizens.
Learning: a separate group of “reporters” follows the simulation to gather data on how money and feelings, negative and positive, connect. They gather learning on essentials of money systems and collect statistics of how “economic growth” proceeds during the simulation.
Includes: The 5 P’s: place, people, products, payment mechanism and projects (organisations). Some questions the simulation explores:
- What is money, how is it created?
- How can money steer behaviour?
- How do feelings around money come about?
- How to value time?
- Why giving away and volunteering drive economies.
- How to projectise local economy development.
- Sustainable enterprises.
- Local complementary currencies.
- What is economic growth
- Where the 5Ps fit into REconomy:
Running a simulation is a great way to get people together … it's active and fun…. and get dialogues going.
We will talk abut how to follow the simulation up to use it to start a time-bank or a local investment company.
The simulation also points to the basics of the LER approach developed in Sweden. You need people working together and connecting with the place. Then you can look into leakage and the theoretical number of jobs to create by provisioning locally - bakers - eggs - bicycle repairs etc as well as creating a local economic development plan and setting up community dragon dens and more.
Can I earn money on running a 5P? Sure! It is a good way to teach economy students about how money works, alternative currencies and so on but if you increase the mathematical side of the simulation (I'll talk about how to do that in the training) you can demonstrate things like money velocity, concepts of economic growth, the role of banks, the importance of markets, MO, GDP, supply and demand and even Marx theory of the value of labour (that last one is advanced). So you could sell your services along with the simulation.
Event language is English. More information HERE.
Video call will be on Zoom and joining instructions will be shared ONE HOUR BEFORE the event with all that register.
Please note that our video calls are meant to be shared experience and video will not be recorded.
Event time is Tuesday, 5 June 2018 from 17:00 to 19:00 in CEST time zone (UTC+2) / 4pm to 6pm in BST time zone (UTC+1).
When this event starts in your time zone? Check that HERE (right-click to open in new tab). If needed, set your location or simply find the city nearest to your location on the list. There's also Add to Calendar download link there - see next to Event actions.
Transparent and open finances.