Readers might like to comment on my evolving project on Transfinancial Economics which offers a radical new way of thinking about capital, or money in this context. There is a p2pfoundation link to it.
"At the present time there are huge growing global problems. These include food security, poverty alleviation, population growth, and most notably global warming which if largely unchecked could lead to gargantuan economic costs, and massive loss of life." "Thus, urgently tackling something like global warming/climate change in the Developing World, and indeed, in the Developed World would be a serious possibility. Obviously, if this is largely non-repayable capital, some kind of manual checks, and/or electronic ones could be used to ensure that it is correctly spent."
"The ideal as far as possible is to bring about a high degree of "simultaneous" growth so that supply, and demand are largely in "equilibrium"."
"Those projects which are commerciallly unviable but vital to the world would receive the "right" subsidies, grants, and interest free loans created ofcourse out of new non-repayable money."
"It is expected that banks, and banking will remain largely in the private sector in spite of the Global Financial Crisis. They could be nationalized in full, or in part but this is not a serious issue in TFE. However, they could have special powers to create, and transmit new non-repayable money to certain businesses (notably those serious about becoming environmentally friendly but where there is little, or no commercial viability ofcourse), and also ofcourse repayable interest free credit. The interest would not be paid for by customers but by the Central Bank, or some independent public authority."
"Inflation legislation would replace taxation regulations. The former would involve by law highly accurate electronic accounting by most businesses. One common form of it are the electronic registers at checkouts at supermarkets (ie. EPOS/ Electronic Point of Sales as mentioned earlier on). Depending on the commercial situation lap top computers, mobile phones, and other like devices could also be used in this process. Thus, business people, and/or their staff would by law have to ideally on a daily basis report their transaction accounts electronically to the inflation department of the bank which could in part, or in full be overseen by the public Inflation Authority."