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Newsletter No1: November 2021

To Members and Friends

Welcome to the first edition coming to you from Gumbaynggirr land.

The Fractal Economy Cooperative (FEC) has just held it’s 2021 annual general meeting. FEC has reported to Fair Trading as financially solvent and membership is rising steadily and currently has 30 registered members.

We welcome Toni Wright-Turner as a new director. Toni brings many years of experience as a teacher, principal and recently Bellingen Shire councillor to the board of directors.

Another director Gavin Tang (FEC Secretary) has just presented a talk at the New Economy Network Australia international conference held in Brisbane. He spoke about Banking and Finance and introduced many of the Fractal Economy principles. The NENA conference was a great way to connect with a broader network of people working to bring about a Wellbeing Economy in Australia and Internationally.

FEC has been working with Jonathan Ersser to develop the web site and App. His business Website Creative in Southport S.E.Queensland has been instrumental in providing an excellent website and app. Members can now sell, purchase and record transactions as well as access the directory for business members. Jonathan will soon be developing the online voting system that will allow members to vote gift money to NFP.

If you have not yet registered take a moment and search fecoop.org

Or https://fractaleconomy.coop and register.

Do it for your kids and family. Do it for you.

We can create a new Wellbeing Economy together to spread the wealth and prosperity throughout the community.

What do we want? World Peace and the Wellbeing of Humanity!

When do we want it? Now!

If you have newsletter articles of interest to members please forward to contact@easyrealsee.com  Till next time,

The FEC team

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Most Popular Posts:

Transaction Tax

In the national economy, a transaction tax would be a flat rate tax on every monetary transaction with only a few minor exceptions such as transfers within a family unit. No costs or expense s by businesses will be tax deductible. Purchases of things like shares and currencies will also incur this tax (which pretty much wipes out the speculative transfers of capitalism). In the FEC economy we apply this tax to transfers between members so that we as a collective can do very good and powerful things with it. For marketing reasons, we have renamed this tax to ‘community contribution’.

Commons

We at the FEC do not think that the government is the appropriate collective institution to manage things like banking, taxation and land rental. These can all be taken out of the hands of government. Government should be restricted to policy making in the political realm. What we call the commons is an economic collective. This economic collective does not have the argy bargy of the political life. Outside of the capitalist context, it is the principle of cooperation and mutual aid that pervades the economic life, and it will have a very different structure to government. Because the term ‘public’ is often associated with government, we prefer the term ‘commons’ in reference to this economic collective.

Community Contribution

‘Community contribution’ is in fact the same as a transaction tax as described elsewhere [see Article 2 in ‘Further reading’]. The reason we have renamed the tax is for marketing reasons as people recoil from the notion of paying an extra tax. Tax payments is in fact how we as individuals contribute to the community in order to fund things like public transport, welfare and a functional judicial system. So people should be proud in saying that they pay their taxes. The reason that we have an aversion to the word tax is brought about by corporations who have the ability to make their expenses cost deductible. They load up all costs of dubious things into their income-expenditure calculations that they can get away with not paying a lot of the taxes that are their due. The whole scam trickles down to the rest of the economy and tax avoidance/evasion becomes an acceptable sport. In a true transaction tax, no expenses are tax deductible.

What is a fractal?

A fractal is by one definition ‘An object whose parts, at infinitely many levels of magnification, appear geometrically similar to the whole’. Take the fern leaf as shown in this image:

The first image above is a graphic picture of a whole fern leaf. If we take one of the ‘branches’ of the leaf – as depicted in the boxed section – and examine its structure, we find that the ‘branch replicates in full the pattern of the original fern leaf. The boxed section of the first image, rotated and appropriately magnified as in image 2, show an identical pattern to the whole leaf. If we take yet another ‘sub-branch’ out of the fern in image 2 as depicted in the boxed section of Image 2, we find the same leaf pattern replicated again. And so on.

The Fractal Economy Cooperative takes its name from this feature of fractals – that the part replicates the whole. We believe that what needs to be done in the global economy is the same as what needs to be done in the national economies; and that it is what we intend to do in the fractal economy. This means that we policies in a number of places that should also be practised in the national economy in order to make it a socially just and environmentally sustainable economy: direct democracy in the realm of policy making, direct individual participation in the allocation of public/commons spending; all the practices that make up for what we call commons banking, a new taxation system (which we call ‘community contribution’ for marketing reasons); support for cooperatives over share ownership of companies; a return to common ownership of land effected through the banking system.