Economics

Free Money Day

A global social experiment aims to show that a more generous world is possible

This September 15th, a unique social experiment aims to show that a more generous world is possible. On Free Money Day, now in its 10th year, people around the world hand out money, virtually or in person, asking recipients to pass half on to someone else.

Organized by the Post Growth Institute, the global event encourages conversations about the benefits of economies based on sharing. It offers an opportunity to inspire more critical and creative thinking about our relationships with money and how we can have new types of economic activity.

“Free Money Day is a chance to get money flowing more readily in our society and to inspire greater generosity, rather than shaming people into action. It’s a chance for people to experience how good it can feel to give, and a moving reminder that we’re all in this together,” said Donnie Maclurcan, Executive Director of the Post Growth Institute and Global Organiser of Free Money Day.

“It is time we asked ourselves again: how much is enough? Do we really need to grow on like this? This event is about much more than money, it is about co-creating the futures we truly desire by building on what we know works: sharing.

“Free Money Day is designed to help people connect with the complex issue of monetary circulation in a simple way, and inspire them to take action. It is a gateway to thinking about wider issues like the power of moving money to credit unions, the problems of for-profit banking, and the importance of debt forgiveness and universal basic income in creating a more fair world.“

Hidden money, USA
Image provided by Post Growth Institute

With the Covid-19 situation varying across regions, people have three options to take part in Free Money Day 2020:

1) leave two banknotes as a surprise for someone in a public space, with a note asking the finder to pass one on.

2) share money in person by giving out two coins or notes at a time (while observing local health and safety measures).

3) send money to someone via a digital payment platform.

Participants are encouraged to share their stories, photos, and videos online using the hashtag #freemoneyday, tag Free Money Day on Facebook, Twitter, and Instagram, and share their experiences with the media and the Free Money Day team.

Free Money Day is an annual, global event held since 2011 to promote sharing and alternative economic ideas. The day is held each year on September 15th, the anniversary of the Lehman Brothers’ 2008 filing for bankruptcy. Since its inception, 324 events have been organised in 218 locations in 35 countries.

If you’re questioning the status quo and interested in a more sustainable society, Free Money Day is your chance to get involved. It’s the beginning of a conversation, a thought provoking exciting idea; Free Money Day is also a creative exercise and a lot of fun!” Ravi Prasad, Founder, Friends with Things, Earth Hour Finalist

The Post Growth Institute (PGI) is an international, not-for-profit organisation facilitating the shift to a world where people, companies, and nature thrive together within ecological limits. The world’s first group to integrate macro, micro, and community economy perspectives into a holistic vision for a sustainable future, the PGI strives to re-imagine economics, from extractive accumulation to regenerative circulation; reorient organisations, from bloated, profit-maximisation to lean, purpose-driven approaches; and reconnect communities, from systemic isolation to strengths-based belonging.

For more information about Free Money Day 2020, visit freemoneyday.org

For more information about the Post Growth Institute, visit postgrowth.org

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