I think that money should be created by merit of working. Money gets created out of thin air by somebody working on a wage or salary. The money created rots/decays out of existence. It has a half life. Some is demurrage paid to banks, some goes out of existence, and some is reserved for lending. Government can regulate the half life of money.
Banks issue loans from that sliver of money that is attributed for lending. Borrowers just pay the money back with no interest. The money paid gets distributed back to the banks customers. Bad debts don't get paid back, but the creditworthiness of the borrower gets affected.
Fraud management is necessary. Wage/salary setting needs to be considered. All the employees' wages/salaries could be created money, or just the minimum living wage, with employers paying the rest of the wage/salary.
I think that thinking in terms of money sources and money sinks is a good thing. Each money source and sink aims to regulate money supply.
I would like to hear of other ways to source and sink money and your thoughts about this idea.
Banks issue loans from that sliver of money that is attributed for lending. Borrowers just pay the money back with no interest. The money paid gets distributed back to the banks customers. Bad debts don't get paid back, but the creditworthiness of the borrower gets affected.
Fraud management is necessary. Wage/salary setting needs to be considered. All the employees' wages/salaries could be created money, or just the minimum living wage, with employers paying the rest of the wage/salary.
I think that thinking in terms of money sources and money sinks is a good thing. Each money source and sink aims to regulate money supply.
I would like to hear of other ways to source and sink money and your thoughts about this idea.
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