he way of the Program is like the way of the Tao, it benefits all mankind but does not demand praise or retribution. The Program is a system of monetary recycling that relies on cybernetic technology to give more to those who have little,and less to those who have more. In that sense, it is like the Tao of the Universe, who will Naturally raise those who are in the lower position, and lower those who have in excess, until a sustainable economic balance is achieved.
The basic concept is so simple and clear that it may not fail. We generate digital money in a central computer and distribute it via the Internet to the most needy, in the form of a generous series of subsidies, such as a salary subsidy, a housing allowance, and subsidies for food, education and health care. Since the Program is based on monetary generation and not on the debit/credit accounting of capitalism, all taxes could be abolished. Money simply flows like a river from the Source to the People, in a never ending and constant flow.
Since people do have different capacities and desires for advancement and material success, it should be inherent to the Program that monetary rewards can be attained, to the highest degree, by rewarding all according to their contribution to the social wellbeing. So while all people will have the same potential base, not all will have the same total income. This is an incentive based I_dea system.
It is axiomatic that money will flow from subsidized accounts to those which provide the goods and services to the People, be they business or public enterprises. The larger the amount in those aggregate accounts across the international system, the larger the potential for monetary "drainage" will exist. Monetary recycling will be done with a single, simple and clear cybernetic tax which can be named the "inflation tax". On a monthly basis, this tax will drain from the high order accounts a total amount required to stabilize the monetary aggregate M3 so that inflation is kept at a minimum.
Inflation in a developing economy is largely caused by the wage-price spiral. With a recirculating system, wage subsidies take the place of wage increases in the private and public sectors. No wage increases in the capitalist system, no inflation. If it does arise and does not correspond to the list of essential products, it can be tolerated. Who cares how much a diamond costs?
Monetary speculation in the form of currency devaluation in the other horseman of the third world apocalypse. Any up to date currency exchange system can track all transactions on a per account basis. If there is going to be currency speculation, then let those who are speculating pay a heavy tax for speculative foreign exchange transactions. What remains is of course the root of the problem, the lack of real currency support on the part of the IMF and their undue concern with fiscal monetary generation.
Jacksonville, FL
Jun 9, 1991
Note: This a pre-Internet legacy article from the "Inner Circle" series that circulated via fax from 1990 to 1992.
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