In the middle of the revolution/transform/reform debate are those such as Paul Ekins, who see transformation through a shifting of spiritual consciousness coupled with a re-measuring of economic performance. Also in this category come the monetary reformers from Lincoln, through Gessell and Douglas forward to Rowbotham today, who see the inherent problems as one of a debt/interest based monetary system. Also in this category are those of the political left who would suggest that control of the economy and business needs to be restored to co-operative or governmental control and a redistribution of financial wealth. All these middle category proponents propose major changes to the status quo but probably without completely tearing up the rule book of traditional development ideology.

At the most reformist end are the ideas of those such as Amory and Hawken outlined in Natural Capitalism (14) who together with groups like The Natural Step, Wuppertal Institute, Rocky Mountain Institute and others, have faith in technological innovation. Certainly from an ecological perspective these are exciting ideas that offer great optimism for maintaining growth, increased standards of living and sustainability without the necessity of more fundamental economic revolution. This category see the market as an instrument for supporting ecological design and hence through enhanced living and working environments the possibilities better to meet basic needs. They tend to be great technological optimists.

The Role of Money

It is claimed by some that money represents energy and potential. In some respects this is may be true. Now that money is not backed by any �real� material substance such as gold, it stands in proxy for the combined creative work and effort of mankind and the Earth over the generations. The value given to a piece of work or product contains that realised potential and energy. Against that line of thinking though, is the argument that money does not serve the purpose for which it was initially created, namely as a means of exchange and store of value. Instead it has become a commodity in itself. In fact this has become its primary use, shown by the fact that it is variously estimated that around 97% of the world�s money is �spent� in speculative transactions in the financial markets.

Right from its point of initial existence money plays the role of commodity, providing a return to the issuing body, and results in a deluge of marketing gimmicks and credit opportunities to those given licence to produce it. In a way completely at odds with ecological law, its growth is seen as limitless, discounting the future with its interest-induced inflationary tendency and constantly transferring from the poor to the rich.

Money�s relation to energy clearly benefits those who have more of it. Without financial capital one cannot enter into the world of, or unlock much of the creativity and talent inherent in human nature. For the homeless and foodless in the poorest countries, lack of finance is a potential energy and life taker, not giver.

In the conventional economy, money measures just a foreshortened part of the production process, valuing just the stage from manufacture to consumption. It leaves out completely or undervalues the cost of the natural capital and what happens after the point of consumption. In short it does not include a full life cycle analysis or valuation. Nor does it usually include the external costs, such as air and water pollution, effects on health or breakdown of community.

Gross National Product as a measure of national monetary accounting is a terribly blunt instrument as it makes no differentiation between benefits and dis-benefits in its accumulated totals. It also only measures those transactions given monetary value, and leaves out voluntary, family and friendship transactions.

Transcendent Economics

Max Neef was reluctant to include transcendence in his list of needs. I would suggest however, that to bring forward the various strands of new economics, ecological economics, utopian economics and the best of traditional economics a new sense of knowing and being needs to be born. It needs to work at a soul level. If Adam Smith is right that humans need to have perfect knowledge to make the right decisions, then that means a transcendent understanding of the nature of being and existence. While it is impossible for anyone to have all knowledge, understanding and wisdom, through deep spiritual experience, ethics and values are at least partly knowable. Socrates said �know thy self�. We need to do that but to transcend the self as well.

The present economic system has actually accorded to itself a form of transcendent role, where it has taken on all the language and certainties of a quasi-religion. Bill Daly says:-

Our world has become almost completely dominated by a system of beliefs and doctrines that stem from something now described as the market. It is all pervasive, everywhere, at all times - which sounds like a definition of God, or at least a false god. Indeed, for its adherents, The Market is as much a religion as for any other sort of believer. The doctrines of the market are accepted as self evident truths. They include notions like:

Money is not man-made, but results from trading.

All trading is good, even if it is of junk, or unsustainable products, which will be on the scrap heap in a few months.

Industrial and economic growth is vital and the sky will fall in if it is not achieved. (15)

Indeed one might go further and compare globalisation with an idolatrous Christianity. Tony Blair and ex-president Clinton have called Globalisation irreversible and irresistible. It consists of a Holy Trinity of the World Bank, IMF and GATT with their American Temples to which those in need pilgrimage and which through their