The ‘Rice Field’ Economy

ensuring there is always more than enough money (but not too much)

Photo by Eduardo Prim on Unsplash

I have developed an alternative monetary paradigm. I have described it as being akin to a kind of permanent ‘quantitative easing’ for ‘the people’.

It occurred to me that this paradigm functions for an economy much like growing rice is accomplished. In the latter the fields are constantly flooded with water, with the excess drained away. With this monetary paradigm the economy is constantly flooded with money in the form of an income for (eligible) citizens and (optionally, but presumably undertaken) funding for all government based on the nation’s population (thus eliminating taxes/public debt). ‘Excess’ money is captured and returned to its issuer (either the existing central bank or a newly created Monetary Entity), to be re-issued as income to individuals and (presumably) funding for government. Like the rice fields, individuals and businesses would retain plentiful pools of money (based on annualized income).

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Stephen Yearwood

unaffiliated, non-ideological, unpaid: M.A. in political economy (where philosophy and economics intersect) with a focus in money/distributive justice