This would create a human backed economic system, as opposed to precious metals or full faith and credit/fiat.
Each share is backed by a human being, and provides a secure interest in society/the planet. Aside from the reasonable notion that all humans have some value, a person with a million dollar trust fund and a basic income, is certainly worth at least a million dollars.
The example I use of a share being worth $1 million is derived from a target of $1 thousand/mo basic income, and an interest rate that is compatible with a sustainable system.
The “capitalization” would make $1 million times the population available to finance sovereign debt, at a sustainable rate, my suggestion is about 1.25%. This capital would be invested by the local banks, and while a majority would likely need to be invested in government securities, whatever portion that can be prudently invested in the community will be available.
So it has no resemblance to a micro-loan.
It is global economic enfranchisement. In order to be enfranchised in a capitalistic society, one must have some minimum level of secure capital. This is how society can secure the public capital, provide a basic income, establish each person’s relationship with society as a sovereign individual, while stabilizing trade and exchange.
A basic income is a vote in capitalism.
The system arbitrarily values the planet at $1 million times the adult population, so about $6 quadrillion. One might observe that this much wealth does not exist, and would take centuries to create the way money/wealth is currently created.
We can also observe that this much debt, distributed as suggested, can sustainably be repaid, and represents a far more reasonable valuation of our society, which can then be improved globally, without “poor” countries, or “poor” individuals, having to beg for overpriced loans.
The system does these things without interfering with any government, though the people will be significantly more empowered to affect whatever changes they desire.