Friday, December 21, 2018

Money and the need for Enabling currencies

Money today is generally used as a mode of payment. Money also encourages competition and creates a need for endless growth (interest).

It works for many of us and got us through the industrial age, however, there are a lot of problems that are caused by our current economic system. Concentration of wealth is happening and major  religions that were against charging interest did not seem to bother about it now, Income redistribution schemes have all failed. Welfare system and progressive tax are criticized for being effective.

With the coming of the 4th Industrial Age, the worsening of climate change, explosion in population and the ageing population, there will be a lot more problems faced, and the pollution caused may make it harder for future generations to survive.


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Enabling currencies / Complementary tokens can play a big role to solve many of today's problems. A cooperative currency can be created to try to address some of these problems.

In a job scarce future, a work enabling currency can be a complementary currency instead of welfare. It can be used a tool to buffer a region from shocks caused by failures in the money system.

Work 

Quality Childcare
Teaching
Mentoring Youths
Elderly Care
Arts, Entertainment, Music
Crime Prevention
Infrastructure repair
Housing Rehabilitation
Environmental Cleanup
Greening of towns
Urban farming
Public transport
Preventative healthcare
...


Where there are no jobs, people can still work to contribute to society and they can be rewarded by tokens.

The role of the tokens can also be used like Barter+, or it can be stored as work hours which can be exchanged for favors and other tasks in the gift economy. (e.g. Looking after a pet for a day in Boston can earn you tokens which you can exchange for someone to accompany your parents to the doctor for a medical checkup and back.)

Time can be spent on community building activities instead of being wasted. The community can be encouraged to cooperate and show reciprocity in places where money is scarce.

Tokens can also be given freely without transaction fees, contributing to the gift economy.

People can take up loans of the tokens to start small businesses and people contributing can trade the tokens they collect for the products and services.


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