Money is a means of exchange and everybody should have some minimum of it so that we are fed, have shelter, get education, find water, get treatment when we are sick: the basics should be taken care of for all, by community or public programs.
This is not what we see now. There is dire poverty in many places. We need to change the monetary system or as a start we can use simple mechanisms like giving poor people money with conditions attached?
Let us assume the present monetary system is basically good, but some aspects of it must be fixed. The lenders and government control the money supply, and money is hoarded as part of power schemes and this is wrong. The lenders and governments control the money supply, and they should as a matter of principle see to it that all citizens have a minimum supply. Social security should at the same time be taken from people who do not need it. This is difficult, but we must find ways to rebalance distribution of money.
Further if money is turned into a salable product through productification, made a “risk” product you can use for marketization and speculation, then the concept of money has been profoundly changed. Public interest must be called upon to regulate what takes place. There should be thrown some light on the black pools of money!
The value of money should be related to value creation in society, governments should not be able to make new money without relation to value creation. Treating money as “goods” and handling it in a market should not be allowed.
We are producing ever more, the unit costs are going down all the time, and we must accept that some goods now must be commoditized or made free, i.e. provided by the public. It is silly to stop value creation for lack of money?
So new thinking is needed: cash programs for a start for kids with conditions attached, for poor people to make them dignified, and this is already done in many places, strong regulation of money, fair distribution systems, and may be some more.
Traditional economics are incomplete, we must expand our thinking about it, markets are an illusion and suffer from insufficiency, the monetary system must be reworked.
The aim of it all – let us start with the basics – food, shelter, education, healthcare for all. We can do it of course, but our systems are flawed and our thinking is wrong. The future is coming, so let us prepare for changes.