I expect that somewhere in these comments what I wish to say is already said, but I think a more detailed exploration of the history of currency is called for. No exploration around why hyperinflation happens, for instance, which is one result of the unregulated printing and distribution of money. Perhaps the thesis will hold up, but that is a gap here. Also, study the history of the United States prior to the central bank being created in 1913 or thereabouts. Recall that the nation did away with their first national bank decades earlier (for some of the philosophical reasons you discuss here.) But the 19th Century was a time of multiple entities printing money to meet the needs of people to have a store of value and exchange vehicle. In part, the Federal Reserve was created to fix a system that had too many booms and busts, which was destructive mostly to common folk rather than the monied class. Third, study the trends in the gig economy. See how competition drives down the value of work as more people seek to survive that way. Your hope that work will naturally lead to rational distribution of wealth may not hold up. Self-interest and a lack of scruples could play hell with the system you are contemplating, which might take us right back to the motivations for establishing the Fed a century or so ago.