Join the new world

The existing money system is out of date.
In modern democratic societies, the value
created by issuing new money should be a
common, not a private, resource. New money
should be put into circulation as public
spending, not as profit-making loans by
commercial banks. In Britain, the result would
be equivalent to 12p off income tax. Other
countries would benefit comparably.
In the information age, money has mainly
become information, electronically stored and
transmitted. Monetary policies that serve the
public interest can no longer be founded on a
smoke-and-mirrors fiction that “real money”
lurks behind the information.
The authors propose a simple reform, and spell
out its practicalities step-by-step. The economic,
social and environmental arguments for it are
very strong. The public purse, private households
and businesses will all benefit from it.
How can the money system be made to work
better? How can its workings be made less
mysterious – easier for politicians and citizens
to understand?

The answers will follow at next article