I am afraid that if the United States had to live by the rules that are imposed on, say, Brazil, the United States of America would become a developing country in one generation. [...]
But when people say, "Well, there are fiscal crises in other countries because the governments are less stable," my question is, "How long would any government last in a country if you had to repeatedly cut back on education programs, social programs, building roads and all other programs?" How could that make a stable democratic government possible? [...]
Practically all Balinese participate in a dual currency system. The first is the conventional national currency; the second is a time currency where the unit of account is a block of time of approximately three hours. [...] For each [big community] project, they always make two complementary budgets: one in the national currency, and one in time. That second currency is created by the people themselves. They don't have to compete in the outside world to obtain that second currency, and it fosters cooperation between the members of the community.[...]
Here's why it works: poor communities don't have a lot of national currency, but they tend to have a lot of time. In rich communities, the opposite tends to be the case—people have more national currency, but less time.