economics

I wrote this last year (2007-09-13), but in light of recent developments, I wanted to bring this up again.

“So we thought that some kind of a big idea is needed to reform, to totally rethink fundraising... Instead of people running in the dark, trying to find their own match, who will be willing to, has the same goals, instead of all of that, we thought... there is something new [that] needs to be invented, and we came up with this idea of issuing bonds, press freedom bonds. If there are investors willing to finance US Government budget deficit, why wouldn’t we find investors willing to finance Press Freedom deficit. We’ve decided to do it this fall. We will issue them probably in denominations of $1000... if we ever survive to actually issue them, find enough investors so this can be considered a success, there’s nothing stopping the next organization to start to issue bonds next spring, and those can be environmental bonds. And then, two weeks later, Iqbal Quadir can issue his ‘electricity in Bangladesh’ bonds, and before you know it, any social cause can be actually financed in this way.“

That was from Sasa Vucinic, speaking at the Technology, Entertainment and Design conference in Monterey, California, more than two years ago. Vucinic, co-founder of the Media Development Loan Fund, was the editor-in-chief and co-founder of an independent radio station in Belgrade and is a passionate advocate for free, independent press all over the world.

So what is this all about the prohibition of interest? What is credit? Does credit and interest apply to money alone? I was thinking about this while at brunch with my friends. They were laughing at me, not with me. But I insist that there is a deep point to this bit of silliness, just like all posts in the "fractured" series.

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Check out our commentator Gideon's blog: Religionism.Net. He has this odd sense, just like us, that progressive means working toward a good end with everyone even people you do not even agree with....Gideon you make a bad liberal and an excellent human being.