Another way to fund it is with fiat money created by the government and paid to all citizens. This also is a covert form of wealth redistribution, since unless an equivalent amount of money is removed from the economy through taxation, inflation will result, diminishing the relative wealth of the creditor class.

Gesell advocated currency decay as a device for decoupling money as a store-of-value from money as a medium of exchange. Money would no longer be preferred to physical capital. The result, he foresaw, would be an end to the artificial scarcity and economic depression that happens when there are plenty of goods to be exchanged but a lack of money by

Debt grows at compound interest and as a purely mathematical quantity encounters no limits to slow it down. Wealth grows for a while at compound interest, but, having a physical

it is easy for economists to believe in the possibility of endless exponential growth, where a mere number represents the size of the economy.

many of the social functions that community structures once fulfilled: security, dispute resolution, and the allocation of collective social capital.

As the social contract forged in the 1930s breaks down and debt levels reach crisis proportions, more radical measures may become necessary. In ancient times, some societies addressed the polarization of wealth with a periodic nullification of debts. Examples include the Solonic Seisachtheia, the “shaking off of burdens,” in which debts were

The point of economic life, however, will no longer be to “make a living.”

the recent deindustrialization and financialization of the economy amount to using the heat to create more fuel.

a system that rewards flow and not accumulation,