Trickle-Down Economics Must Die, Long Live Grow-Up Economics
Scott Santens
29321

Thanks for your service.

If you would please, consider the effects of requiring sovereign debt to be backed with Commons shares.

My thoughts are that Commons shares may be claimed by each adult human, one only, that will cease to exist on the humans death, shall be deposited in trust with local financial institution along with execution of a social contract.

In this way each human will receive equal interest payments from sovereign debt.

This establishes the sovereignty of each human.

As a sovereign entity, each individual would have access to sovereign debt for home, farm, or secure interest in employment.

In round numbers, a share with a value of $1 million would return about $1 thousand/month, if it all was borrowed, at a growth sustainable rate.

Current sovereign debt would return about $10/month, $20 if corporate government debt is included, (observing that corporations are governments subordinate to their charters) which would be significant in many parts of the world. Individuals could borrow a significant fraction, but maximum return would likely require states to borrow all remaining shares.

I suspect that a nation with 1 million residents could borrow the entire $1 trillion (equivalent) of resident shares as reserve cash and devise a plan to increase revenue by the $12 billion/yr (equivalent) required to pay the interest. The U.S. example of a $268 trillion debt, a $250 trillion treasury, and $3 trillion annual interest payment seems equally optimistic.

With all currencies tied to the Commons, and the proportional increase in wealth flow in all states, exchange rates and trade can stabilize.

The increased spending on basic needs will necessarily reduce the cost of providing them.

Since the spending of money is restricted by the availability of materials and labor, and “full employment” is restricted by the availability of money, recognizing and distributing the value of the Commons in this way would simply “fill the reservoir” so the world economic system may act more like a “Free Market.” This restriction, and most familiar others, would promote an orderly increase in money supply, with most new money in reserves and increased valuation.

Please consider the notion, and as you view the worlds problems, and crises, imagine how this would alter those conditions. The perspective change for each individual so enfranchised is critically needed.

Thanks so much for your kind indulgence,

Stephen