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Joined 1 year ago
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Cake day: June 14th, 2023

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  • This is just one idea. It is not meant to solve every problem. Though, frankly, I don’t think your critique is very relevant. The poor typically have little or no savings and spend their money immediately. So they should be largely unaffected by this. And increased spending and lending by the more privileged should benefit the poor to some extent, as will the reduction in the wealthy’s spending power.

    But yes I think further ideas and programs would be needed to fully solve poverty. This type of currency would easily accommodate a UBI or similar benefit programs since the natural reduction in money supply would solve any issues of inflation typically associated with large direct payments to citizens.










  • Yeah I’m not really sure how to overcome this. Maybe povoq is correct that money printing is an easier solution, since it doesn’t require direct participation from the wealthy.

    I’m still interested in experimenting with this idea though. Most other forms of wealth besides money have downsides, even gold. Hoarding physical goods is harder to do secretly and requires storage and security costs.