Toward Gift Economics #1
I a concept I described as "Sovereign Wealth Funds". This post describes a specific implementation using the already-existing notion of a .
Wikipedia lists several . Here are several similar concepts:
- Laundry Tokens
- Credit Scores - used to abstract repayment percentages - the score itself can be used to directly obtain money through loans
- Reward Points
Below, I shall refer to the nascent idea expressed in this post as a kind of coupon.
A few challenges:
- Getting businesses, services, and institutions to accept
- Inflationary impact unknown
- Lack of long-term scientific and economic data
How does this differ exactly from existing systems (such as those described above)? How is this new?
- Not welfare, no tax money transferred
- Issued coupon
- Does not have to be exchanged into dollars
- Coupons that are issued by local communities and accepted by institutions and businesses
- Not accepted outside regional zone - is not asserted as universal legal tender. Acceptance is voluntary.
- Driven by futuristic gift economics (reciprocal - in some sense an abstraction of traditional market transactions) rather than existing market economic systems but supplements deficiencies with market systems on a regional or city levels
- There are level of constraints that can be imposed based on need (the needs of say Berkeley versus say the needs of a small town in rural Iowa).
- Rewards can be granted to those who are in good standing - think car insurance premium reductions for those who don’t get in accidents.
What are some specifics that would assist with making this idea actionable?
- Coupons that are exchangeable for specific basic needs - housing, food, transportation, etc.
- Coupons that are non-monetary but accepted by institutions in the same way that laundry tokens are used to do one’s laundry at a laundromat
- Once accepted, these coupons convert and are universally usable by any business accepting them - they may or may not be exchangeable into US dollars
- Thus, they are “two-tiered coupons” or “dual-facing” coupons in that they originate as single use coupons and after they are first transacted convert into a more general coupon.
- They would likely have to be digital to have this “transmuting” or self-altering effect. At least digital in some way.
What would this be like in practice?
- Housing coupon - individuals who are issued the coupon can only use the housing coupon for housing
- Once accepted by a non-profit, school, business, etc. the coupon can be used by any other business, school, non-profit, etc. accepted.
- Coupons for housing, transport, computer, food, phone, etc.
- They need not be restricted to specific categories - they could simple be universal "single-tiered" coupons.