Valuing Ecological Services in A Modern Technological Economy

VALUING ECOLOGICAL SERVICES IN A MODERN TECHNOLOGICAL ECONOMY
ISIBES-PGO-004 BY F MANSOOR
VALUING ECOLOGICAL SERVICES IN
A MODERN TECHNOLOGICAL ECONOMY

MANSOOR, F.
Independent Research, Student of Mudiyanse Tennekoon, Kotadeniyawa, Sri Lanka
Corresponding author: fmansoor@sltnet.lk
ABSTRACT
This paper describes how economic value may be derived from the inverse of the time-
energy cost of goods (or services) produced with an energy equivalent currency of
kilowatt-hours, watt-hours and watt-seconds, as suggested by Buckminster Fuller. Ranil
Senanayake has stressed the urgent need to evaluate the ecological services provided by
photosynthetic biomass and suggests that monitoring the rate of produced cycling
atmospheric gases (CAG) would prioritize the extant photosynthetic biomass in a
production unit. Time-energy accounting for work done will make each economic
transaction net of energy footprint and can provide the value for ecological services
without a need to capitalize the underlying resources. The Cost of Breathing (COB) of
each economic unit will establish the per capita costs necessary to survive for a single
day in the Economy. True Parity Purchasing Value (PPV) will apportion relative costs.
The Energy Delivered Value (EDV) of each community will be an index that prorates the
cost of delivering goods and services across the communities from the amount and
source of energy consumed. The less energy consumed the more inherent value in the
good or service produced. An economic system that requires more and more people to
do less and less work misuses technology to create and maintain poverty. Clifford H.
Douglas suggested an Office of Social Credit that provides a basic stipend to society to
distribute the surplus of industry. Internet-based Distributed Ledger technology can link
networks of like-minded communities who tally transactions and collate economic
activity seamlessly; building common wealth through consensus, cooperation and
mutual debt. This paper then situates this technology in the direct democratic process of
our forefathers and the great or common consensus, that if man lives in dhamma, the
land, its people, flora and fauna will be safe.
Keywords: Blockchain, Crypto-currency, Direct Democracy, Photosynthetic Biomass,

Time-Energy Accounting, Mahasammatta, Social Credit,
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4TH INTERNATIONAL RESEARCH SYMPOSIUM OF RAJARATA UNIVERSITY OF SRI LANKA
INVESTING IN BIODIVERSITY AND ECOSYSTEM SERVICES
OCTOBER 17-18, 2018
Introduction
The modern economy is a model of innovation and technological expertise unparalleled

in Human history yet we are unable to provide basic needs to the majority of the planet.
The dilemma arises out of the Aristotelian nature of Classical Economics and the
Baconian backbone of inductive natural science based upon the experimental
ascertainment of fact. In the classical ideal man is honourable and fatalistic and in the
modern honour has no meaning and the future is deterministic. To the classicist Society
fails because it is wicked and immoral, people are poor because they are idle. Scientific
determinism would have us subject to more or less blind forces that elicit and temper
our actions, thoughts and morals.
Implicit in the classical moral theory of society is the theory of rewards and
punishments and this ideé e fixe is so embedded in the minds of men through education
and experience that they are unable to see that it is an artificial theory not inherent in
the nature of things. Goodness and happiness are not abstract qualities in fixed direct
relationship with each other but rather the result of a cause we might designate “good”
and an effect we may call “happiness”. The importance of this clarification can be gained
when we understand that the whole of the industrial, legal and social system of the
world rests on the theory of rewards and punishments.
C H Douglas writing in 1922, identified this practical difference between the theory of
rewards and punishments and the theory of cause and effect, the latter works
automatically and the former does not.1
The efficiency of a modern farm or industrial undertaking is not seriously undermined

by the moral character of its employees. Can there be a manufacturer of any
consequence who would not believe himself capable of obtaining almost any output
required of him, if provided with the requisite capital, plant and machinery? His
considerations are the terms of the contract he, his employees and the purchasers are
party to. Even if a centralising force, such as we see today and which we will discuss
presently, were to seek to dictate and run the whole production system of the world they
cannot at the same time make the production and distributions systems a vehicle for a
world government by the imposition of rewards and punishments with arbitrary
restrictions on the distribution of the products and be, as well, an efficient and seamless
machine to provide the maximum amount of goods and service with the minimum
expenditure of time and labour.
It is in such a scenario we see today, that burgeoning unemployment is viewed as a

symptom of the breakdown of industrial society and not as it is, a sign of scientific,
technological and economic progress.
The Modern Technological Economy
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McKinsey Global Institute in their study Jobs Lost, Jobs Gained 2 dated December 2017
found that while some new jobs maybe created as a result of innovation overall, “…Our
scenarios across 46 countries suggest that between almost zero and one-third of work
activities could be displaced by 2030, with a midpoint of 15 percent.” This they say
represents at least 400 million workers displaced by automation. While asserting that it
will be the most scientifically advanced economies that will be most affected by
automation they suggest between 3 to 14 percent of the global workforce will have to be
switch occupations and possible learn new skills to apply new technology.
Meanwhile the International Federation of Robotics in its appraisal of world industrial

robotics in 20173, observed that in 2016, robot sales increased by 16 percent. After
considerable increase in robot sales to the automotive industry between 2010 and 2014,
the IFR finds moderate growth of 6 percent for that industry contrasts with the 41
percent increase in robot sales to electronics / electrical industry. Automotive robots
account for roughly 35 percent of total sales with electronics/electrical sales fast
catching up at 31 percent of total supply. The IFR finds that 74 percent of global robot
sales are concentrated in five major markets, namely China, the Republic of Korea, Japan,
the United States and Germany. Nevertheless, robotic installations have continued to
increase in Taiwan, Italy, Thailand, India, Spain, France, the United Kingdom and other
Western European states.
When making a comparison between countries in terms of the distribution of

multipurpose industrial robots, the IFR uses a measure of robot density in terms of the
number of multipurpose industrial robots per 10’000 people employed in industry. The
average global robot density is about 74 industrial robots per 10’000 employees in the
manufacturing industries. The industrial robot density in the Republic of Korea,
2145:10000, in the U.S. it is 1261:10000, Japan 1240, France 1150, Germany 1131 and
Spain 1051.
It is perhaps more obvious now than it has ever been that we can produce goods and
services at a rate considerably greater than the possible rate of consumption of the
world and that this production and distribution maybe achieved with a fraction of the
available labour. It is equally clear that despite this huge potential reservoir of goods and
services, the larger proportion of society is unable to get at them. The shops are full of
goods but no one has the money to buy them.
“This being so, the picture presented to the mind of any thoughtful observer must be that
of a bridge which has been reared through the agency of scaffolding and false-work. Its
completion has been delayed and its lines obscured by the failure to remove the
structure which has enabled it to be built, but which is no longer necessary. The people
of the world are clamouring for admission and many of them are supported by the false-
work. The problem is to get the false-work away without precipitating into a catastrophe
the swarming multitudes who regard it as the real structure.”4 C H Douglas, Social Credit.
The root of the problem
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The concept of rewards and punishments is closely related to what we call “Value”. In a
nutshell Value in economic terms, is that which gives the thing valued maximum
exchangeability under present conditions. If rewards and punishments constitute
“Justice”, that is the assessment of desserts, “Value” is the basis for the assessment.
In the natural world of cause and effect, the value of something is assessed as that
quality which makes a given object serviceable in the attainment of a given end. In other
words, it is the utility of the thing that is naturally of value. That such a concept is
antagonistic to the artificial theory of rewards and punishments maybe ascertained by
the example Douglas gives in Social Credit:
“… if it is necessary for me to cross a large river, a boat would seem to be my immediate

requirement. Its utilitarian value to me consists in its ability to transport me across the
river with a minimum of inconvenience and a maximum of speed. But the generally
accepted opinion of its value would be directly proportional to my ability or the ability of
someone else, to submit to penalisation financially for the use of the boat, and again this
would be directly proportional to the urgency of my need and would be enhanced by the
absence of other boats. It should be particularly noticed that this kind of value is not
inherent-it is one remove from the simple usefulness of the boat.” 5
Douglas further points out that this conflict of ideas and objectives results in the value of
anything which has a use being enhanced by its scarcity and so that a society which
hankers after values should find it in the agency of scarcity. He continues, and this
understanding is crucial to assessing the value of ecological services in a monetarized
world of subtle and overt monopolies,
“… The process of creating “Values” by creating a demand which is in excess of the

supply, is called advertisement, and by restricting a supply so that it is always less then
demand, is technically known as Sabotage… its crudest manifestation… is of course, the
only theory… underlying the strike, the assumption being that if the whole of the
available labour can be taken off the the market, the financial value of it immediately
increases. The higher manifestations of it are slightly more-subtle, but identical in
principle. The modern objective of big business is to obtain the maximum amount of
money for the minimum amount of goods. Or to put it more accurately, to obtain a
maximum total price for a minimum total cost. As a result of this, business acumen is
measured by the ability to create price rings in indispensable goods, which decreasing
the purchasing power or “costs”, distributed during their manufacture and storage.”
This implies that in any undertaking the receipts should be at least equal to payments
and any surplus of receipts should be as large as possible. In the case of a national
economy, all the alleged services it provides to the nation are supposed to be paid,
eventually, by taxes. Governments are supposed to make their receipts in taxation equal
or exceed their expenditures and to have a surplus leftover to service debt and sustain
the nation’s credit. This obviously creates a constant shortage of money in the hands of
the general public and enhances the scarcity value of what is now commoditized in the
hands of a financial hierarchy.
It is self-evident then that even with the best intentions in the world, governments are
subject to the whims of finance. Most are dependent on debt to bridge their budget
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deficits. Without the goodwill of their financiers no government would be able to fulfil
the least of their campaign promises. But without the goodwill of its electors it would be
equally unable to put value to the debt they have incurred. If the nation does not transact
economic activity no “value” can accrue.
The government pays its debts with taxes, duties and levies it collects from us or from
the sale of our national resources. In fact, most national debts are so large that
governments usually pay only the interest on the debt. The actual national debt is never
paid-off or written-off. In fact, there is no need for government to pay anyone to issue
debt, it could issue it, itself.
In the simplest terms, the government allows the financial sector:
 to issue credit in its name,

 to keep account of what it creates by maintaining a ratio between the credit and
purchases of sovereign debt and other approved financial instruments,
 to report how much their customers transact
 to assist in the maintenance of poverty.
The Transnational Capitalist Class
In January, 2018 Oxfam International published a study (Reward Work, not Wealth) 6 that
found that in 2017, 82 percent of global wealth went to 1 percent of the population. 3.7
billion of the world saw no increase in their wealth at all.
C Wright Mills’ 1956 book, The Power Elite 7 , identified three groups of elite who had
directive power in the U.S. economy, the Political Elite, the Military Elite and the Business
Elite. In the tradition of this seminal work, Professor Peter Phillips of Sonoma State
University, in his book, Giants: The Global Power Elite 8, finds that what was once a
national capitalist class has developed through transnational integration of their capital
in to a transnational capitalist class of 389 individuals who stand at the very apex of the
global power structure. Phillips identifies “… 17 global financial conglomerates who
collectively manage some $41.1 trillion in a self-invested network of interlocking capital
that spans the globe.”9
University of California, Santa Barbara, sociologist, Professor William I Robinson in his

2014 book, Global Capitalism and the Crisis of Humanity 10 says that the world faces an
unprecedented crisis of social inequality, environmental degradation, global violence
and economic destabilization. He describes a centralized world in which an over-
accumulation of financial capital has just three mechanisms for investing this excess:
risky financial speculation, wars and preparations for war, and the privatization of public
institutions. Professor Robinson identifies four unique aspects of 21 st Century Capitalism
that contribute to this crisis:
“First is the rise of truly transnational capital and a new global production and financial
system into which all nations and much of humanity have been integrated, either directly
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or indirectly…
“Second is the rise of a Transnational Capitalist Class (TCC), a class group that has drawn
in contingents from most countries around the world, North and South, and has
attempted to position itself as a global ruling class. This TCC is the hegemonic fraction of
capital on a world scale…
“Third is the rise of Transnational State (TNS) apparatuses. The TNS is constituted as a
loose network made up of trans- and supra national organizations together with national
states that functions to organize the conditions for transnational accumulation and
through which the TCC attempts to organize and institutionally exercise its class power…
“Fourth are novel relations of inequality, domination, and exploitation in global society,
including an increasing importance of transnational social and class inequalities relative
to North South inequalities that are geographically or territorially conceived.” 11
The UN World Food Program counts 821 million people (see below) who go to bed
hungry each night. They forecast that by 2050 an additional 2 billion people will face
hunger. In addition 1 in 3 people on the planet suffer some form of malnutrition. Each
year, poor nutrition kills 3.1 million children under the age of 5 and more than 9 million
people die from starvation and malnutrition. Over 60 percent of the world’s hungry are
women. Poverty is the number one cause of hunger in the world.12
The TCC seeking returns on trillions of dollars, speculate on the rising cost of food and
land. This speculation on global agricultural land and on which indigenous farmers are
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replaced by corporations, has meant that in the last 10 years more than $90 billion has
been invested in 78 countries buying up more than 74 million acres of farmland. The
result is corporate farming for export at the expense of local requirements.
Professor Peter Phillips identified 13 the top seventeen asset management firms in the
world each managing at least $1 trillion dollars of investment capital. He says,
“These seventeen Giants of capitalism that collectively manage this concentration of
$41.1 trillion operate in nearly every country. They are the central institutions of the
financial capital that powers the global economic system. Western governments and
international policy bodies tend to work in the interests of these financial Giants to
protect the free flow of capital investment and ensure debt collection everywhere in the
world.
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In 2011, a study entitled The Network of Global Corporate Control, by Stefania Vitalia,
James B. Glattfelder and Stefano Battiston of the Swiss Federal Institute of Technology
using mathematical models that usually map natural systems found that 147 companies
in Europe controlled some 40 percent of the world’s wealth. 14
Building on this study Professor Phillips finds that: “Fifteen of the top seventeen asset
management firms were among the top 27 most centralized firms identified in the Swiss
study, and nine are among the top ten superconnected firms...”, he continues:
“The top asset management firms tend to invest in each other, making this network a
solid core of interlinked companies with shared investments worldwide. JPMorgan
Chase and fourteen other trillion-dollar Giants are invested directly in BlackRock. The
seventeen Giants collectively invest $403.4 billion in each other. This interlocked capital
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is likely much higher than estimated here, more in the $1 trillion -2 trillion range, given
that the Giants’ NASDAQ data set $9.8 trillion only gives investment information on
about 24 percent of the total $41.1 trillion. But these estimates are enough to clearly
show that the Giants are significantly invested in each other. The result of this cross-
investment is an interlocked global capital structure amassing greater and greater
wealth to the continuing detriment of billions of people worldwide.” 15
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The seventeen global financial agglomerates have 199 directors on their Boards. These
199 individuals represent the financial management core of global capitalism. 136 of
these individuals are male. 84 percent are whites of European descent. Altogether they
hold 147 graduate degrees, 59 MBAs, 22 JDs, 23 PhDs and 35 Masters degrees. Almost all
have attended private elite colleges, with 28 having been to Harvard or Stanford. 117
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people are from the U.S, 22 each from the U.K and France, 13 each from Germany and
Switzerland, 3 each from Italy, Singapore, India, Austria and Australia, 2 each from Japan
and Brazil, and one each from South Africa, the Netherlands, Zambia, Kuwait, Belgium,
Canada, Mexico, Qatar and Colombia.16
These core group managers take active part in global policy groups and governments.
They serve as advisers to the IMF, the WTO, World Bank, Bank for International
Settlements, the Federal Reserve Board, G7 and G20. In addition, these 199 also serve on
202 smaller investment management firms and many of these are privately owned. This
superclass of managers set the priorities for monetary investments in business, industry
and governments. Their priority is a return on investment of not less than 3 percent per
annum. Capital that invests in tobacco, war weapons, toxic chemicals, and other socially
destructive goods and services creating pollution, famine and preventable epidemics, are
only interested in this return and bear no responsibility, fiduciary or moral, for this
destruction they have fostered.
William I Robinson third necessary component of transnational capital is the

transnational state apparatus or TNS. The international institutions highlighted in the
previous paragraph serve as mechanisms for the TCC consensus building, policy
formulation and implementation to ensure the free flow of capital and debt collection
globally. These institutions are controlled by representatives of nations states with
proportional power and control exercised by the dominant financial supporters, the US
and Europe. However, it is the privately funded think-thanks like the Group of 30 (G30)
and the Trilateral Commission, at which global policy is developed. Professor Phillips
clarifies,
“The G30 and the Trilateral Commission are privately funded, self-supported research
organisations / forums, whereby TCC power elites can speak openly on global capital
and security issues, moving toward a consensus of understanding on needed policies
and their implementation. These meetings offer TCC power elite individuals
opportunities to personally interact with each other face to face in private, off-the-record
settings that allow for personal intimacies, trust and friendships to emerge. These
interactions are the foundation of TCC class-consciousness and social awareness of
common interests… a wide variety of policy issues emerge for implementation by
transnational entities, security institutions (military/police and intelligence agencies),
and ideological organisations (media and public relations firms).” 17
Phillips identifies a combined membership of 86 individuals in the G30 and the Trilateral
Commission. 12 of the 17 Giants, have representation in these privately funded non-
profit corporations, Goldman Sachs has four directors. The G30 founded in 1978,
releases reports and findings from studies made by power elite bankers, financiers,
policymakers and academics. Its findings are usually accepted and implemented across
the globe.
Andrew Gavin Marshall reports in Global Power Projects: The Group of 30 and its
methods of Financial Governance18,
“In 2012, the G30 published a report compiled by the Working Group on Long Term
Finance, which was composed of nearly two-thirds of the membership of the G30. The
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reports set out their concerns about the ‘the efficient provision of a level of long-term
finance sufficient to support expected sustainable economic growth in advanced and
emerging economies.’ The report noted that is was not an ‘abstract exercise’ but was
‘operational’ complete with ‘practical recommendations for global and national actors
and policy makers that would… help create a system of long-term finance. In other
words, for the Group of Thirty, they don’t produce mere ‘recommendations’ but rather
‘instructions’ which they expect to be followed. It is of significance that many of those
who produce the reports as members of the G30 conveniently hold other official
positions so as to be able to dutifully implement those instructions.”
Of the 32 policy directors of the G30, 12 are from the U.S. (one dual Israeli national),
three members from France (one with Ivory Coast nationality too), the two members
from the U.K are British peers with seats in the House of Lords, Germany and Mexico also
have two members each and there is one director each from Poland, Canada, Spain,
Argentina, Italy, Brazil, Switzerland, Japan, India, Singapore and China.
Professor Eleni Tsingou of the Copenhagen Business School says the G30 operates like a
club. In a paper titled Club Governance and the making of Global Financial Rules,
Professor Tsingou writes in her Introduction,
“The G-30 is a ‘club’ in the transnational policy community. Clubs are held together by
elite peer recognition, common and mutually reinforcing interests, and an ambition to
provide global public goods in line with values its members consider honourable. This
notion of a ‘club’ explains how the actors who write the rules for global finance work
together. This understanding of a club complements, but is distinct from, work on expert
‘epistemic communities’ and the ‘transnational capitalist class’. The club concept goes
beyond transnational communities as bound together by scientific agreement or aligned
through ideological affiliation and material interest. Clubs focus our attention on
specifying the actors, their motivations and the mechanisms that lead to consensus on
specific governance issues and policy options. The club is not an abstract analytical
construction; rather, it is a concept developed from the 80þ interviews with stakeholders
in the financial policy community over a 12-year period. The interviews lead to an
overview of group dynamics that goes beyond an understanding of a ‘club’ as mere
moniker for a group who has defined material interests and wishes to capture the
process of making financial regulation. The most important form of capture is of an
intellectual nature in that it defines what constitutes appropriate governance.”19
Other organisations with similar power elite membership are the Systemic Risk Council,
the World Economic Forum, Bilderberg Group and the Council on Foreign Relations.
These groups completely understand the demands of transnational capital beyond the
boundaries of nation states. Globalization makes a nonsense of physical boundaries
when the rights of sovereign nations are made subject to occupation, war, trade
agreements and enforced economic rules20.
Unsurprisingly we find the Giants fully invested in the top three weapons manufacturers
in the world, Lockheed Martin, Northrupp Grumman and Boeing.
The Atlantic Council established in 1961 is a non-profit organisation that is a voluntary

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alliance of countries in NATO. With an annual budget of $20 million, the Council numbers
146 members of the Global Power Elites from 28 countries in the board of directors.
Among those listed are 4 former NATO commanders, 13 representatives from leading
defence contractors, 11 are former military men, 41 directors are active in national and /
or public and private security contractors. 40 individuals from six of the Giants are
governors of the Atlantic Council, and major corporate media and public relations firms
are well represented too. As Professor Phillips points out these links tie the corporate
media, public relations and propaganda corporations directly to capital management
and military / security polices21.
Private military contractors (PMC) with ties to the Giants, include Blackwater (now
merged with Triple Canopy as Constellis Holdings), and G4S. Blackwater and other
PMCs were used extensively in the Iraq invasion by the U.S. military. This privatisation of
war is a serious threat to human rights, due process, transparency and accountability.
Labelling dead civilians as insurgents or terrorists after the fact, the U.S.-NATO military
displays a complete lack of due process belying any moral responsibility for their
governments and setting precedents for those they contract to do the jobs they would
not do themselves.
The most telling organs of control of the Global Power elite are the international highly
concentrated corporate media. Corporate media receive from 30 to 80 percent of their
content from public relations and propaganda firms with the same ownership
characteristics we have observed elsewhere. This means that nearly all content is pre-
packaged, managed news, opinion and entertainment. Embedded reporters working
directly with military units have to maintain good relations with those units in the field,
to maintain access. Cooperative reporting is essential for this and corporate media
outlets will vet, change and block reports from the field which tell a story askew from
their corporate agenda. The Giants are deeply invested in Comcast, Disney, Time Warner,
21st Century Fox, Bertelsmann, and National Amusements who own Viacom and CBS. The
Public Relations and Propaganda firms controlled by the Giants include the Omnicom
Group, WPP and Interpublic Group22.
A technological society that makes more and more with less and less but uses economic
weapons to create and maintain poverty is a society that has never distributed its wealth
to its citizenry. Poverty is the leading cause of extinction in the world today. Iniquitous
Economics maintained by the force of power, armed militias and threats to personal
liberty is the main cause of anthropogenic climate change in the world.
The Capitalisation of resources exacerbates ill-distribution
As we found above, the crucial problem with the distribution of production lies in the
fact that the majority do not have the money to purchase them. As we will see this is
looking at the problem from the wrong side. Money is seen as the abstraction of justice
and value that somehow conveys a standardised ‘value’ and allows a ‘just’ return on
labour. As we have shown above the natural value of anything is its utility relative to
effort and all attempts at standardising the value of money have failed as the
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commoditizing of it has made its scarcity a function of its value. C H Douglas, whose
Industrial Engineering background gave him insight in to the practical and accurate
utility of money stated the issue as follows,
“The proper function of a money system is to furnish the information necessary to direct
the production and distribution of goods and services. It is, or should be, an “order”
system not a “reward” system. It is essentially a mechanism of administration,
subservient to policy and it is because it is superior to all other mechanisms of
administration that the money control of the world is so immensely important.” 23
Douglas makes the analogy of the railway ticket which is a limited form of money. He
points out that the fact that a railway ticket has a monetary value is secondary and
subservient to its main function which is to distribute transportation. The demand for a
railway ticket indicates to the management of the railways the transportation required.
This enables the administration to draw up a schedule of available services that a the
railway traveller may use to plan his travel and arrive at his destination. Douglas
continues,
“It is every whit as sensible to argue that because there may only happen to be one
hundred tickets from London to Edinburgh in existence, that, therefore, no more than
one hundred passengers may travel, as it is to argue that because the units of money
happen at the moment to be insufficient (whether they are ‘invariable’ or not), therefore,
desirable things cannot be done, irrespective of the presence of the men and the
materials necessary to do them. The argument only assumes validity if a deficiency of
tickets is a reflection of a real deficiency in transport, and not vice versa.
“The measurement of productive capacity takes place, or should take place, in regions
other than those occupied by the ticket office or its financial equivalent the bank and the
proper business of the ticket department and the bank is to facilitate the distribution of
the product in accordance with the desires of the public and to transmit the indication of
their desires to those operating the industrial organisation, to whom is committed the
task of meeting them. They have no valid right to any voice in deciding the qualifications
of the traveller, or the conditions under which they travel.”
Douglas concludes,
“Just so long as a rigid abstraction is made the test to which physical facts must conform
(and any theory of money that pretends to measure value comes under this description),
just so long must there be friction and abrasion between the theory and the facts.” 24
It is clear then that the gap between Demand and Supply has little to do with the ability
of the production and industrial system to answer the calls of need, but all to do with the
organisation which stands between them, the abstracted financial system. Natural
resources are the common property of all and the means of their exploitation should also
be common. This does not mean they should be appropriated by the government but
that they should be enjoyed in common by all. The air we breathe is such a resource,
common property in the most complete sense, it is available everywhere and all have the
means of its exploitation. If as is happening today with water, the air was vested in the
government or private capital then everyone would lose the right to breathe unless they
had the requisite license or financial ticket.
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Land as productive capital is quite another matter. As humans we need land on which to
live and land on which we can farm the necessities of life. It is fixed and it is local. Yet it is
also universal in that we need to traverse it to get from one place to another and it also
contains vital resources underground that we must convert in order to utilise. To say all
Sri Lankans own all the ilmenite in the land has little or no meaning when every
individual does not have the means of its exploitation. Exploitation would require
capital equipment and processing but what use would a farmer have for say a borer?
Nevertheless, each and every consumer of Titanium Oxide extracted from the ilmenite
have to financially and collectively pay for the cost of this capital equipment and the
consumable goods they produce in the prices we pay for the goods. It is vital that the
financial ticket system allows us to pay these costs without mortgaging the future.
Production is the conversion of matter or energy from an unavailable form to one in

which it maybe of use and benefit to mankind. Accordingly, the efficiency of this
conversion depends primarily on the usefulness of the end product. But usefulness to
whom, and who is to be the judge of it? In a truly democratic society it shall be
consumers who decide what they wish to consume “which is incompatible with a system
which distributes goods and services only through the process of making more good and
services, thus giving a clear incentive to produce useless, unwanted or superfluous
things and to create a ‘demand’ for them.”25
To be clear, if the work accomplished (priced to cover accumulated costs over an

indefinite period) can only be distributed through work in progress (to be added on to
the costs of work completed in the next production cycle) then we have the recipe for
our modern predicament, the need for continuous ‘economic’ growth with ever-growing
squandering of energy and resources as technological advances increase the productivity
of labour. Inflationary credits to producers supplemented by consumer credit
mortgaging future wages must be constantly issued so that we can purchase less and less
of what we have already produced. This is obviously the antithesis of what is required to
equitably distribute what is but the common inheritance of all.
The nature of power26 is to arrogate more and become more powerful. Any pyramidal
structure of society is bound to create an entity that could be used for such purpose.
More and more people are required to fight over fewer and fewer jobs making a virtue
out of slavery and a nonsense of progress. Mankind stands on a mountain of human
achievement and these fruits are yet to be distributed to their children. No person or
institution creates out of nowhere and nothing. Everyone uses what has gone before to
make what is yet to come. If this mountain of human achievement is valued in
intellectual terms the relative intellectual wealth of individual invention would be
negligible in the least. However, the sum of this together with the built infrastructure,
language, culture and biodiversity is a living wealth that handles energy in very different
ways. One might say language is a purely psychic energy informing a material built form,
or one might chose to divide economic activity in to those performed for or by humans
and those that are not.
If A represents all human input and output in the production of a good or service and B
represents everything else, then A+B=C where C is the selling price of the good or
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OCTOBER 17-18, 2018
service. Since all income is accounted for in A no human can purchase what they produce
in a single production cycle. This means that the method for evaluating the cost of
making an economic good is flawed if one may not purchase what one makes. Systems
are made for society, society was not made for systems.
The bridge that our local community in Kotadeniyawa built across the Maha Oya easily
demonstrates the knock-on effect of wealth creation. This bridge was funded by local
businesses including our coconut estate, a design was provided by State Engineering and
the RDA, the materials were provided by the government at cost, and the people
provided the shramadana (voluntary labour) to build it. It was built in 100 days and the
community owes nobody for it. Within a short space of time the town of Kotadeniyawa
doubled, and the sleepy old town that used to go to sleep at 7pm now even has two all-
night food stops. Contrast this with the IMF funded bridge in Minuwangoda, admittedly a
more robust and greater load bearing construction, nevertheless took nine years to build
and every time the GOSL did something the Western powers did not like funding was
suspended. As we are all aware given the GOSL’s recent increased indebtedness we are
still unable to repay the loans we have already taken from the IMF and others. We
are also all aware that debt is the crow bar with which foreign capital pries open
economies but it seems our governments do not care.
Today the Washington Consensus applies its military logic on an unwilling world and has
with its allies turned much of the world in to a battlefield and all cry foul when the terror
they rain on foreign streets rebound on their boulevards. Richard Maybury writing in the
Early Warning Report27 says that for all the multi-billion dollar defense systems the wars
of the future will be fought through the barrel of a submachine gun.
The metabolic nature of life requires that we consume energy and convert it in our
bodies in order to maintain them. When manual labour was required in order to do this
a larger portion of our time and energy was required to convert what are nothing but
fruits of solar energy that sustain the fabric of life. The most critical and valuable
material in maintaining the life support system of the planet is its photosynthetic
biomass28. The biomass so termed has the ability to increase in mass through the
absorption of solar or other electromagnetic radiation while releasing oxygen and water
vapour into the atmosphere. Respiring biomass is that component of living biomass that
uses the output of primary production to make the complicated biological patterns of
life; it consumes oxygen to power its functions and does not have photosynthetic
functions itself.
I think it is clear that to assign value to ecological services using an abstracted value
system is an endeavour fraught with error and inherent bias and will privatise what is
and should always be held in common by all.
There is no sustainability without self-sufficiency. Societies that depend on outside

sources to sustain themselves are not sustainable. This is self-evident.
When the British wanted to get our peasantry to work for them, they destroyed the
infrastructure that sustained them. They banned rajakariya as institutional slavery and
then had their agents breach village tanks. When the village rushed to repair their tanks
20
OCTOBER 17-18, 2018
they were arrested for performing rajakariya. When the nation rose-up in protest the
Uva-Welassa rebellion was put down with merciless ferocity. Every able-bodied man
over 18 was killed. All livestock was killed or taken in to the Army. All fruit trees were cut
down. All provisions were either burnt or taken in to the army. Our nation has still not
recovered from this massacre.
If we are to achieve any kind of sustainability as a nation, we require a return to the

independence of the periphery from the centre and the re-establishment albeit in a
modern idiom of the institutions that built our culture.
To this end the economic underpinning of our nation was the consensus that if Man lived
in dhamma, the people and the land would be safe.
This Mahasammatta, this common or general consensus, ensured that once one had
performed one’s traditional duty or rajakariya for one’s community one was free to do
whatever else one wanted. Such social space for self-discovery is a feature of all
traditional communities.
Intrinsic to a Consensus Society is the limit of society’s reach and unless one broke faith
it was essential that one was allowed to explore one’s karma as thoroughly as possible. If
one was living in dhamma one was not creating adverse consequences. This was a
largely cashless society, which built and functioned through wealth held in community.
This spirit informs Lanka to this day, giving one hope that though there is much that has
been lost there is still something worth saving.
The present economic paradigm of requiring more and more people to do less and less
work is the root cause of poverty and the multifaceted destruction of life on this planet.
No value can be created without a transaction between two or more human beings.
Assigning value is how we account for work done.
A credit cardholder who makes a purchase using his or her card creates money
efficiently and seamlessly. The work accounting for the purchase has not been
performed and what the cardholder is doing is creating financial credit by a prior
arrangement, instantly and efficiently promising to pay back her credit card company
out of future income. The credit card company bases the cardholder's credit limit on her
credibility or their assessment of her capacity to repay. In other words, the cardholder's
future productive capacity.
Similarly, when banks issue loans to society they do so based on society's future
productive capacity. Society's productive capacity is a function of its infrastructure,
transport and communication networks, built capacity, plant and machinery, the health,
education and skill level of her citizens. But, society's productive capacity belongs to
society not banks, for no good reason we have abrogated our right to issue society's
credit to banks and to pay them for the privilege of doing so. All the banks are really
doing is keeping our accounts for us. There really is no reason we cannot keep our own
accounts.
21
OCTOBER 17-18, 2018
From a societal stand point, we only need to know that a transaction has taken place,
both parties are satisfied, and x value was transacted. We make the appropriate debit
and credit, just as a bank does, and we move on.
The difference is that society does not have to pay interest to itself. It provides the credit
from the built reserve of society, the potential capacity of its assets. This is exactly what
banks do today except we have to cover the credit with our work to not only pay our
debts but also that of society, which their minions and our rulers contract us.
From an entrepreneurial point of view, a wealth system is a means of transferring goods

and services to a consumer and obtaining currency with which you can purchase other
goods and services. Which is why we need an alternate wealth system separate from a
central bank run debt driven financial system, funded by income tax and interest.
Time Energy Accounting for Work Done
The American visionary engineer and architect, Buckminster Fuller saw the Earth as a
spaceship, a living breathing life-support vessel taking us through the wonder of the
Universe, he felt it was essential that we kept her shipshape. Writing in 1983 in Critical
Path29 Fuller pointed out that when man wanted to go to the moon, he made a list of
tasks he would need to accomplish to do so and one by one accomplished them. Since
climate change is the greatest challenge to man as a species Bucky suggested we make a
plan to come to an accommodation with it.
Fuller observed that when all the cosmic-energy processing as rain, wind and
gravitational pressure is added to processing time and paid for at domestic household
electricity rates it costs nature millions of dollars to make a single gallon of petroleum.
“To say, “I didn’t know that” doesn’t alter the inexorable energy accounting of eternally
regenerative, 100 percent efficient-ergo 100 percent concerned- physical energy
Universe. We find all the no-life-support-wealth-producing people going to their 1981
jobs in their cars or buses, spending trillions of dollars’ worth of petroleum daily to get
to their no-wealth producing jobs. It doesn’t take a computer to tell that it will save both
Universe and humanity trillions of dollars a day to pay them handsomely to stay
at home.”30
Bucky suggested time-energy accounting of work done in kilowatt-hours, watt-hours

and watt-seconds of work.
Such a system would allocate value in the economy according to type, quality and
quantity of the energy used to produce the goods and services society needs.
Taking the inverse of the energy cost as the base value of the good produced would
prioritize value according to the least time taken to produce it, and this would include
not only the man-hours but also the time nature has taken to produce it and man has
taken to convert it, for use.
22
OCTOBER 17-18, 2018
The Cost of Breathing (CoB) would add all the monetary (in the transitional period) and
energy costs necessary to survive in a 24-hour period in a particular community.
An Energy Delivered Index (EDX) would calculate the cost in energy and formal currency
to deliver the energy used to produce a particular good or service, and establish a total
Energy Delivered Value (EDV).
Parity Purchasing Value will establish a comparative index based on EDV, EDX. CoB and
generate an energy based value system.
Incorporating the rate of produced Cycling Atmospheric Gases in the location of
production would prioritise the extant photosynthetic biomass in an economic
production unit.
An energy equivalency currency could apportion the costs in a time-energy accounting
for work done and goods and services produced.
Our daily planetary cosmic energy income together with the sum total of all human built
infrastructure and knowledge provides the mountain of wealth from which a modern
technological society can underwrite the productive potential of society. Using an energy
based systemic credit will reward the best use of those resources by accounting for itself
in the way the universe does. It must use energy efficiently.
Like Visa or MasterCard, a Social Credit card issued by the government could seamlessly
distribute the necessary fruits of production. Each transaction could be verified using
block chain technology and valued in the weighted crypto-currency accounting for work
as it is done. At the end of a billing period, society adds up all the debits and credits and
makes a mean of the consumption on essentials and credits each cardholder with
sufficient credit to cover food, clothing, shelter, transportation, education and third party
liability. Private transactions between individuals or groups of individuals could actually
transact in any currency acceptable to all parties to the transaction. It could be industrial
economy Federal Reserve Notes, or it could be website credit or gold or silver dollars. All
the system needs to know is that a transaction has taken place between two or more
human beings, that both sides are satisfied with the transaction (in order to build
credibility and mutual debt/credit), and a specific value was transacted.
An individual’s personal credit will be managed as it is now and if he has more debits
than can be paid with his allowance of Social Credit, he will have to work or cut back on
his spending until he moves back into the black. He will not have to pay interest on any
debits leftover from a billing cycle; he just can’t spend more than his credibility or ability
to pay pack.
An example will illustrate how this true value of each transaction could be assigned. If
one takes a street of bakers all making bread of equivalent taste and quality:
Baker A uses electricity from the national grid, B uses an lp-gas oven, C uses a wood
burning oven, and D uses solar power with batteries to operate the same brand and type
of electric oven as A.
Assuming a standard selling price for a loaf of kadé bread and equivalency of labour in a
standard manufacturing method, inverting the energy cost of manufacture of each Baker
23
OCTOBER 17-18, 2018
will automatically reward the bakery using the least costly energy as the larger the
energy cost the less the value.
To calculate the relative energy cost of each baker one needs to assess the type and
quantity of energy delivered to each baker and standardize it through an Energy
Delivered Index for comparative purposes.
Each party within the system will have an inherent energy footprint and any economic
good or service produced by this entity will have a relative value with the other
contracting party.
If one evaluates the energy that goes in to giving me a glass of cool water from my LG
fridge, one must begin the calculation in Korea and add all the proportional energy
required to bring it to my home, where it is plugged in to the national grid and cools my
water.
Contrast this to a farmer in the Wanni who has a clay water pot in a shady part of his
home, where it perspires and cools.
In an economy where value is predicated on the inverse of the energy cost, the goods and
services produced by the farmer would be inherently and proportionately more valuable
than mine.
Society is a machine to produce the goods and services it needs. The more efficiently
such a machine functions the more useful it is.
The ecological services provided by natural systems of the planet have no direct way of
being costed in the current economy that we currently consent to. Instead we have to
resort indirect reparations such as carbon taxes that seek to ameliorate pollution not
prevent it. Most of the time polluters leave the clean up to society.
In an economy predicated on energy a country such as ours with its abundance of
biodiversity is automatically compensated for the services it provides.
A technological society can and should strive to provide the highest quality of life to all
its citizens. Its civility maybe counted by the protection it provides to its most hapless
citizen.
“History’s political and economic power structure have always fearfully abhorred “idle
people” as potential troublemakers. Yet nature never abhors seemingly idle trees, grass,
snails, coral reefs, and clouds in the sky.”31
The universe is 100 percent efficient. Energy flows naturally and things naturally
happen. The pre-industrial revolution did not use any fossil fuels. Today we bathed in
daily cosmic energy from the Sun instead of focussing on using more of that we rather
burn sequestered carbon. The salient question Society should ask is: How do we spend
the least amount of energy to provide for the greatest number?
Poverty is one of the world’s largest issues, which is growing everyday and is a product
of a wrong economic system. Technology has made work redundant while more and
24
OCTOBER 17-18, 2018
more people come to the job market every year. The people in power are not the ones
who are going to help us eradicate poverty.
We have to create a society that stands together and shares the same values and stands
for what we want to uphold in this world. It should be a system of exchanging goods and
services by consent using time-energy accounting to value the transaction. We have to
create a society that we all consent to: if man lives righteously, mankind and the universe
will be safe.
In Sri Lanka colonialism destroyed the way the country was organized. Before, there was
a great independency for the peasantry, individual ownership of land was unthinkable
and each person owed a portion of the productive capacity of the land he tilled to the
community. A craftsman also received his share according to his contribution.
Pangukramaya, each according to his share according to his contribution. The emphasis
was on living with nature treasuring all living things: ahimsa or hurtlessness being key to
the Buddhist vocation. The violence the Portuguese brought with them no doubt merely
accelerated a rot that decadence had already begun but nevertheless it is from this time
that we have the first ostracisms for beef eating, an offence so onerous that one was
denied caste and cast from society. In Lanka even today one is always asked, “Which
village are you from?” To not belong to a village was to be an ahikuntakaya.
The puranagama civilisation of the peasantry of Lanka was based on a large body of
water held on high ground below which the village homesteads and their paddies were
maintained through intricate irrigation systems that began in the hills with the monsoon
rains and meandered through the Wanni to the sea. Each person in the community had a
role to play in the maintenance of the infrastructure and social structure of the village.
This was called rajakariya: nominally service to the King but in practice service to the
community. The villages were administered through an ad hoc Council of Elders.
When the British left they took themselves away but left the Westminster system of rule
by elite. Where once our Kings ruled by consensus, Mahasammatta, today our rulers rule
by force of power.
At the same time: life on earth is being destroyed. Ranil Senanayake asks a pointed
question in an article published in the Daily Mirror on October 10, 2017, titled The
Satanic Formula,
“Can we modern humanity be really accused of stifling the force of life? The answer is
yes and lies in our wholehearted acceptance of the Satanic Formula as the basis of
human development with out understanding or appreciating what this acceptance
means. The Satanic formula is derived from the generalized formula for extracting
energy from fossil fuel, CH4 + O2 -> CO2 + H2O + e.
“This states that burning Hydrocarbons (fossil fuels) using Oxygen gives us Carbon
Dioxide, water and energy. It is this process that the entire industrial revolution was
based upon, it is this process that propels all the transport and industry of the ‘modern’
era.
“Hydrocarbons are made from the fossilization of organic compounds that once existed
in the biosphere, it is made from living organisms that died and was buried underground
where they are compressed into the rocks and reside time periods measured in millions
25
OCTOBER 17-18, 2018
of years. This fossil material has no contact with the living world.
“Over geological time vast quantities of carbon sequestered by living forms become
fossilized in this manner and removed from the living world. With the fossil carbon there
also resides fossil hydrogen. And it is the burning of these fossil components using
biologically generated oxygen that is currently pushing the threat to life ever closer. The
reason why becomes clear when the generalized formula for Hydrocarbons is looked at,
in terms of its combustion products, armed with this knowledge, the threat to life
becomes clearer. The Satanic Formula is stated as fCH 4 + bO2 -> nCO2 + nH2O + e.
“Simply it states that burning fossil Hydrogen and fossil Carbon (oil, gas, coal) using
biologically created Oxygen creates ‘new’ Carbon Dioxide and ‘new’ water vapour that
never existed in the atmosphere before. These ‘new’ gaseous input into the atmosphere
accelerate the current trends of rampant global warming and climate change. But there
is another feature about this formula that really makes it sinister and that is the fact that
the global Oyxgen concentration is falling and the only thing that keeps the global
concentration levels up is photosynthesis by leaves and plankton.
“The expansion of fossil based industry and farming at the expense of the forests and the
seas, not only destabilizes the atmosphere and accelerates global warming but it also
removes the very basis for the expression of life by burning the biologically created
Oxygen without paying for its replacement.”32
Instead of a money system, we should introduce a time-energy based system for directly
apportioning society’s tickets to purchase the essentials to life. Money in the world now
comes from something abstract today, it is not real.
We can create a society based on this principle in which there are networks of networks
of people exchanging goods and services on the basis of a time-value based system. We
can build our own sustainable system. In this system, people only have to work a few
hours and others are paid to stay at home. With modern technology we can create
societies with likeminded people who want to exchange freely. Culture is created during
leisure time. So when people are paid to stay at home there can be more time for dance,
music and art that can cultivate culture.
You never change things by fighting the existing reality. You must invent a new reality
that makes the old obsolete. For that reason, we can only make sustainable change in Sri
Lanka and retain what is left of our traditions and culture by rebuilding our former
independent villages.
F. Mansoor
Puwakwatte
Kotadeniyawa
October 18, 2018.
26
OCTOBER 17-18, 2018
NOTES
27
OCTOBER 17-18, 2018
1 [Douglas, C. H. (1933), Social Credit 3rd ed., London, Eyre & Spottiswoode; (1974), Economic
Democracy 5th ed., Epsom, Bloomfield] (Pg 14) “The practical difference between the theory of
rewards and punishments, and the modern scientific conception of cause and effect, can be
simply stated. The latter works automatically and the former does not. If I place my bare finger
upon a red-hot bar, so far as science is aware, I shall be burnt, whether I am a saint or a
pickpocket. That is the Modernist view. It is not so many hundred years ago since the Classical
view held that I should only be burnt if I were a pickpocket or similar malefactor, and ordeal by
fire was a ceremony conducted on this theory…”
2 [McKinsey Global Institute, (2017) Jobs Lost, Jobs Gained: Workforce Transitions in a Time of
Automation]
3 [International Federation of Robotics (2018) World Robotics 2017: Industrial Robots]
4 [Douglas, .C H., ibid], Pg 42
5 [Douglas. C. H., ibid], Pg 44-45
6 [Oxfam International (2018), Briefing Paper: Reward Work Not Wealth]
7 [Mills, C. W. (1956) Wolf A (contributor) (2000), The Power Elite New Edition, New York, Oxford
University Press]
8 [Phillips, P.M, (2018), Giants: The Global Power Elite, Seven Stories Press, New York]
9 [Phillips, P.M., ibid]
10 [Robinson, W.I. (2014), Global Capitalism and the Crisis of Humanity, Cambridge University
Press, New York]
11 [Robinson, W. I., ibid]
12 [Turk, C., (2017), 15 World Hunger Statistics, The Borgen Project, Seattle]
13 [Phillips, P.M., ibid], Cap 2
14 [Vitali, S., Glattfelder, J.B. and Battiston S. (2011), The Network of Global Corporate Control,
Swiss Federal Institute of Technology, Zurich]
15 [Phillips, P.M., ibid], Pg 37-39.
16 [Phillips, P.M., ibid], Cap 3
17 [Phillips, P.M., ibid], Pg 162
18 [Marshall A.G., (2013), Global Power Projects: The Group of 30 and its methods of Financial
Governance, online
19 [Eleni Tsingou (2015) Club governance and the making of global financial rules, Review of International
Political Economy, 22:2, 225-256, DOI: 10.1080/09692290.2014.890952

22 [Phillips, P.M., ibid], Pg 273-300
23 [Douglas, C.H., ibid], Pg 62
24 [Douglas, C.H., ibid], Pg 64
25 [Dobbs G., (1974) Introduction to C H Douglas’ Economic Democracy, Bloomfield Publishers,
Epsom]
26 [de Jouvenal, B., (1945), On Power: Its Nature and History of its Growth, Beacon Press, Boston,
(1962 imprint)]
27 www.earlywarningreport.com
28 [Senanayake, F. R. (2011), Realising the value of Photosynthetic Biomass, Havana, Proceedings of
the 5th Congress on Forestry, April 27, 2011]
29 [Fuller, R. B., (1981), Critical Path, New York, St Martin’s Press]
30 [Fuller, R. B., ibid]
31 [Fuller, R. B., ibid]
32 [Senanayake, F. R., (2017), The Satanic Formula, Daily Mirror newspaper, Colombo]

Valuing Ecological Services in A Modern Technological Economy

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VALUING ECOLOGICAL SERVICES IN A MODERN TECHNOLOGICAL ECONOMY

A MODERN TECHNOLOGICAL ECONOMY

Independent Research, Student of Mudiyanse Tennekoon, Kotadeniyawa, Sri Lanka

Corresponding author: fmansoor@sltnet.lk

Keywords: Blockchain, Crypto-currency, Direct Democracy, Photosynthetic Biomass,

The modern economy is a model of innovation and technological expertise unparalleled

The efficiency of a modern farm or industrial undertaking is not seriously undermined

It is in such a scenario we see today, that burgeoning unemployment is viewed as a

The Modern Technological Economy

Meanwhile the International Federation of Robotics in its appraisal of world industrial

When making a comparison between countries in terms of the distribution of

The root of the problem

“… if it is necessary for me to cross a large river, a boat would seem to be my immediate

“… The process of creating “Values” by creating a demand which is in excess of the

In the simplest terms, the government allows the financial sector:

 to issue credit in its name,

The Transnational Capitalist Class

University of California, Santa Barbara, sociologist, Professor William I Robinson in his

William I Robinson third necessary component of transnational capital is the

The Atlantic Council established in 1961 is a non-profit organisation that is a voluntary

The Capitalisation of resources exacerbates ill-distribution

Production is the conversion of matter or energy from an unavailable form to one in

To be clear, if the work accomplished (priced to cover accumulated costs over an

There is no sustainability without self-sufficiency. Societies that depend on outside

If we are to achieve any kind of sustainability as a nation, we require a return to the

From an entrepreneurial point of view, a wealth system is a means of transferring goods

Time Energy Accounting for Work Done

Bucky suggested time-energy accounting of work done in kilowatt-hours, watt-hours

20 [Phillips, P.M., ibid], Pg 215

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