Bryden Allen's Website

Money and Finance

If this state is to thrive, then it must have a sane, simple monetary system, which everyone understands and everyone accepts as being fair to all people. I, as a sane mathematician, have designed such systems several times. But all people refuse to read anything I write on the subject. All people want to believe that the current system they are using doesn't have any glaring faults in it. And, if they read about another different system and find that it is not the same, then they become worried. So they immediately stop reading.
            So this is a problem. Initially I decided I would not discuss this problem at all in this text. But now I can't bear to do this. So I will say a few words here. I cover the subject reasonably well in my Green Living book. And I cover the subject more fully in my Society of Choice book. The picture opposite will help you understand the situation.

Each hamlet, each village centre and the town centre will have separate financial systems run by their own elected officer (just like a club). Each such region will have their own bank and this bank will effectively own the assets of their region. Then each citizen of each region will have a bank account and so their balance will represent their equity in their region's assets. These assets should add to a large sum of money - the average total asset should be about $200,000 per person.
            But a dollar is undefined as to what it means. I prefer a term that has a more explicit meaning. So I use an "Hour's Work" as my monetary unit. So roughly "One Hour's Work" at the moment would equal $25 in Australia. As people do work, their equity would increase by the amount of work they do, and it would decrease by the amount of services they use. A new equity balance would be calculated for each person by the finance officer each week - after all the work time-sheets and expenses has been worked out and these figures input into the system.
            A person's equity will gradually change over their life. Their equity will start at zero, when the person becomes a member of the community and is given an account. Their equity should gradually rise to a maximum at about age 40, when it might be about 15,000 hours (equivalent to about $300,000). At this maximum a person will be given no paid work until their balance starts to drop again (so that younger people can do the paid work). Later in life, a person's equity should start to drop significantly as they gradually retire from active work and they require welfare assistance. (As shown in the diagram, Dick can not work for money, whereas Tomi and Harriet can.)
            As every region has their own banking system, a person would normally have three bank accounts - one with their hamlet (the largest), one with their village centre, and one with the town centre. However money can be transferred between these different accounts. But such transfers will not be straightforward. The value of each "hour's work" must differ between all the different communities (depending on how easy each community is about giving work-hours to their various people). So there must be a changing exchange rate between the different "hours worked" between the different communities. I am afraid such differences cannot be ignored. The idea that all societies can use just one currency is just wrong. The simple Euro unit was always going to give problems in the future. I can't bear that such simplistic ideas should be proposed in these communities. In fact it is best for all people to keep a sensible balance of their assets in all their three different accounts.


The point I want to make about this financial system is that it would be almost impossible for a person to cheat the system. This is because all monetary transfers would be immediately visible to all people. There would be no cash at all and people would transfer money by tiny little chequebooks. These cheques would be given to the banking officer who would adjust the accounts. Everyone's account balance would be visible to all people in the community because it is terribly important for the whole community to know that all members are gradually increasing their equity to look after their old age. In fact, if a person was not doing this, then the membership officer would approach this person and find out what the problem was i.e. was the person on drugs or were they gambling too much. And this problem can easily be found out by studying all their transfer slips. It is enormously important for a community to know that each person is progressing in a sensible financial manner. And, if a person is not, then their various memberships might be rescinded (with the unpleasant consequences, which I will describe in my webpage "Our Citizenship Incentive System").

In the village and town centres, the payment for services would be done more easily by using Citizenship Identity Cards. Thus a person, when entering a town car, would insert their identity card. And this person will retrieve their card when they leave at their destination station. This information would be available for all people to see on their computer system. And these cards would be used in a similar manner, when receiving all other services like food and drink.
            And the times associated with the use of these cards could also be used to check the times, which people claim in their time-sheets. This system of card usage could also be easily extended to have card readers on the entry and exits of all the buildings in the village and town centres. And then the system could be used on all the gates, which lead to the various hamlet regions. I am not suggesting we actually do this. But we could do this very easily if there is a problem. Then it would very hard for anyone to cheat on the claims, which they might make in their time-sheets.

Thus this financial system would force all people to look after their own personal financial situation in a sane and sensible manner. Like all good systems it would also be utterly boring. There would be no rich people at all and very few poor people as well. But, instead of worrying about money, we can now think about going up into space.
            And, if we want to, we can ensure that almost no one can cheat this financial system at all.

It is time now to read about "Our Recognition Tower" (A much more inspiring subject).


You might now also like to look back at:

either my "Home Page" (which introduces this whole website and lists all my webpages),

or "The Ultimate Ascent" (which introduces these webpages),

or "A Path to Create a Full Space Colony", (which introduces the coming webpages in more detail).


Updated on 14/11/2016.