Social Banking Discovers the Commons
The idea of “social banking” is a bit of a mind-bender for most Americans accustomed to the cutthroat ways of Wall Street and the alarmingly concentrated banking/finance sector. In the US context, with a handful of exceptions, “social banking” can only be understood as an oxymoron or cynical PR gambit.
But in Europe, the Institute for Social Banking is dedicated to helping banks that want to develop more ethical, socially minded approaches to monetary policy, banking and insurance. The Institute provides training and research, hosts educational seminars for banking practitioners, and strives to promote ecologically positive industry practices. Despite these ambitions, the Institute concedes that there is no widely accepted definition of social banking; it remains a somewhat “off to the side” of mainstream industry practices -- a sincere but still-evolving ethic and portfolio.
As an American, I find it remarkable that the Institute for Social Banking even exists. Even more impressive is the Institute's recent week-long seminar in Switzerland exploring how social banking could begin to understand and support the commons. Here is a description of the course. Besides introducing the commons more generally, the seminar included sessions on indigenous commons; organizing and financing common businesses; community-connected farming; alternative currencies; and imagining a common world / society.
My colleague Silke Helfrich attended, and reports back that there was keen interest in the commons – enough so that at the conclusion of the week, participants issued the following statement:
- Read more about Social Banking Discovers the Commons
- Log in or register to post comments
Recent comments