London Global Open Table: 7th April 2010

London Global Table: April 7th 2010

The Global Table meets Wednesdays 12noon-2pm at the School of Economic Science, 11-13 Mandeville Place, W1U 3AJ. From Bond Street tube, turn left/west into Oxford Street, when you see GAP on the other side, cross over and go right/north along James Street – after a couple of blocks you will come to it on the left.

This Open Table monitors and encourages a wide range of activities in the realms of inclusive justice and the systemic redesign of the economic systems. The Table agreed a ten minute rule on initial contributions so that discussion of matters raised and other interests can have their share. I encourage people to report in advance the essence of any matter they wish to bring to the table. It would enhance the value of this network if regular readers of key books, journals or sites could make brief reports of any significant findings.

MATTERS IN THE AIR …. Reminding each other of opportunities before us:

1. Some responses that Compass suggests would energise Labour support – and the opinion polling proves it. Electoral reform to break the Westminster stalemate (65% support), splitting banks to shed their casinos (68%), cut Trident (63%), take back the railways (70%), ban advertising to children (77%), replace fees with a fairer graduate tax (88%), a Robin Hood tax on bank transactions (53%), cap loan shark interest rates (89%), create a high-pay commission (65%) – and a living wage (58%).

2. Tarek’s new book 2010 – The following book details have recently been posted at Book title: Islamic Banking and Finance – What It Is and What It Could Be. Author: Tarek El Diwany (contributing editor) with Ahmad, T.; Fazel, A.; al-Haddad, H.; Hasan, S.; Ismail, S. G.; Kholwadia, M. A.; Manjoo, F.; Siddiqi, N.; Timol, B.; and Zainuddin, S. Publisher: 1st Ethical Charitable Trust, UK Publication Year: 2010. Further details: Category: Islamic Finance, Law and Economics Country: United Kingdom ISBN number: 978-0-9565186-0-6

Summary: This comprehensive work has been designed for use by professionals new to the field of Islamic banking and finance and by students at undergraduate level or above. It covers the historical, theological, commercial, legal, institutional and macro-economic factors affecting the modern world of Islamic banking and finance and is organised into four main sections: Islam and the Shari’ah, Traditional Contract Forms, Contemporary Practices, and A Response to Capitalism. Views both for and against the current direction of the Islamic banking and finance industry are provided, and a number of reforms are suggested at the institutional and contractual levels. The book includes fourteen detailed case studies, an extensive Arabic glossary, self-tests, thorough indexing and contents tables, and suggestions for further advanced reading at the end of each section. Language: English

3. Bank of England Governor’s reply – continuation Bank of England’s ’s website and look at Question 6.

4. CEJ and conference on contributions to system redesign. NEF dialogue.

5. AN ALTRUISTS COMMUNITY – Working for love not money. We are an optimistic, positive community with members from both the under- and the over-developed world. We are united by our commitment that a money-centred struggle for personal gain is no way to make the world a better place. We try to ignore money but put people at the heart of what we do, concentrating on what will be of real benefit to others.

6. A huge resource to visit and absorb:

7. Keep in touch with www.call4reform

8. Matthew Slater on The Finance Lab: ‘Professionalise complementary currencies!’ Matthew Slater


An important video by Bernard Lietaer on the understanding of why the economy needs the complementary currencies to emerge.

10. Ld Skidelsky finds Werner’s ideas extremely interesting.. Charles Bazlinton

11. Caux Initiative on Banking – PC to report re March 23rd meeting – Chatham House rules discussion

12. After Growth – Four Propositions

13. PETITIONS – drive on in solidarity to maximise awareness. For Instance: Writing to your MP to ask “which side are you on” regarding Early Day Motion 913 may be a good hook. 51 MPs since tabling last recently is much better than any of our EDMs over the years! Austin Mitchell tabled EDM 1138 on INTEREST FREE CREDIT. A new tool we’ve got is a STOP THE OPPRESSION PETITION

We urge you to sign the official petition to the Prime Minister to support LVT on the Number 10 Downing Street website

14. INFO : The national debt – the total amount of money the British Government owes its creditors – was established in 1694 following the Nine Years’ war against France when 1.2m was needed; it now stands at £857bn, equating to 60% of national output (GDP) and is expected to mushroom to £1.4trn, or 76% of GDP, by 2014. FT