Any new system must meet the following criteria:
Simplistic and transparent
Easy to understand, adopt and use
Encourage creativity and productivity
Be intrinsically fair to all who use it
Help humanity rather than enslave it
Any new system must be designed to prevent:
Greed and Control
It is my view that we do need a medium of exchange. It is also my view that basing this medium of exchange on a tangible such as gold is as dangerous as the fiat system. Instead, I suggest we base the monetary unit on a consistent and universally understood intangible - Productive Time (which essentially equals human energy). I propose the monetary unit be designated as a “second” (as in 60 seconds equal one minute). For every second of time a man is engaged in productive work he earns one second monetarily.
Monetary Seconds are exchanged for a man’s time. A second spent working is a second earned. Every man’s time is of equal value. We must abandon the concept that a speculator can “earn” millions sitting at a computer betting on which way the market will bounce while people who do outstanding work such as teaching our children or caring for the elderly receive just a tiny fraction of the speculators win-fall for their time and effort.
This paradigm shift accomplishes many things, not the least of which will be an end to unemployment and sweat shop production. This will be explained later.