Thank you for telling me your real concerns. I think a lot about ethics and morality. I am a person of faith and I developed a whole construct of justice, from an ethic of justice (mutual respect) to its implications for individuals, the political process, and the economy. This economic proposal is an expression of that. Surely a more just economy would not increase the number of unjust people.

As for making sure people would value money in this system, in my proposal this money would be the nation’s official ‘legal tender’. That would suffice to make it accepted just as today’s money is.

We now have a system that creates money at will. Look at the responses to the Great Recession and today’s situation. There is literally no limit on how much money that can be created at any time. In my proposal the amount of money is determined by demographics — and only that. No person or committee would be able to increase (or decrease) the amount of money that would be created. At the same time, because the amount of the supply of money is based on demographics, there could never be a shortage of money.

In my proposal money would be ‘given’ to adults who were legitimately not able to work and to retirees. Anyone else would have to have a job to receive the income — but everyone who was willing to work would be guaranteed a job. People who were being paid more than the amount of this income by their employers would not receive this income.