Calling on the Writers on Medium
We cannot change the world, but we can get the process started.
Enough analysis! Enough with the warnings! Enough handwringing!
At some point, to make society better the best available option must be identified and people must begin advocating for it. At this point, there is simply no time to wait for some yet better option to be presented.
I do not think I have come up with the only viable option for a better society. I am, however, unaware of a better idea.
This idea is a New Monetary Paradigm. In terms of economics, it is a new and different way of supplying the economy with money (as currency) that would make the supply of money, as currency, a variable that would be determined by demographics, and only that. The whole of the economy would adjust to that variable. It can be thought of as a kind of permanent ‘quantitative easing’ for people on a very large scale, but with built-in safeguards against inflation.
This New Monetary Paradigm…
- follows from an advance in understanding what justice is;
- can be implemented in any nation, regardless of its system of government or its economic circumstances,* via a single legislative Act;
- would make the existing economy self-regulating, with no unemployment or poverty;
- would increase sustainability;
- is not an all-or-nothing proposition, but has options and stopping points within it, such as: (a) could be used to fund all government, from central to local, without taxes/public debt; (b) could be used to pay a parent or legal guardian for performing that role in a household with at least one child present; and (b) could be used to assure sustainability while vastly reducing or even completely eliminating exploitation.
Any and all of that would be accomplished justly (without any violence, coercion, or manipulation) and without imposing any costs on employers, without having to redistribute anything, without imposing any limit on income/wealth, without any additional regulation, and without requiring people to act any particular way.
Accomplishing any or all of that would not preclude participating in the political process to seek any other goals for society (e.g., more or less environmental regulation, more or less regulation on behalf of consumers, more or fewer restrictions on abortion, more or less public health care, etc.). In other words, many of the issues that drive our politics would still be with us, but in the context of a more just, economically stable and secure society.
This paradigm could be adopted by groups of nations — without compromising in any way the sovereignty of any nation — and could eventually unite every nation in a single global currency, with the same elevated level of material well-being for every human being on the planet. What might that do for peace on Earth?
If anyone knows of a better idea, by all means do apprise me of it. Otherwise, for goodness’s sake join with me in advocating for this one.
According to Medium, I have more than 700 followers. If 1% of that number would begin advocating for this idea, that would be enough. Responders with questions and comments could be referred to my articles, where they could address me directly.
This is both a challenge and an opportunity: the chance to be dedicated to a purely good cause. Don’t assume that others will do what needs to be done. Take it upon yourself to embrace this call to doing a good thing.
*All nations now have the same economic system: the government and the central bank combine to ‘manage’, to a greater or lesser extent — via fiscal policy, new debt, and the creation of currency — an economy in which, to a greater or lesser extent, the operations of markets are deemed to be the appropriate source of the economic information needed for that purpose. The freedom of action and the desired ends vary among nations, but not the basic institutional structure or its fundamental functioning.
most pertinent articles (in addition to links within this article):
“Same Economy, Way Better Outcomes for Society”
(for, primarily, economists) “Paradigm Shift”
to maximize justice and sustainability: “To Preserve What We Have, What We Have Must Be Enough”
All linked articles are here in Medium, but not behind the paywall.