Why politics won’t solve systemic problems of our monetary system
Here is a categorized list of typical proposals from the political left and right
addressing problems in the monetary system and economic inequality:
| Left-Wing Proposals | Right-Wing Proposals |
| Progressive Taxation: Increase taxes on the wealthy and corporations to redistribute wealth and fund social programs. Universal Basic Income (UBI): Provide guaranteed income to all citizens to reduce poverty and economic insecurity. Nationalization of Banks: Bring major financial institutions under public ownership to prioritize social welfare over profit. Regulation of Financial Markets: Impose stricter controls on speculative trading. Implement financial transaction taxes (e.g., a “Tobin tax”). Debt Forgiveness: Cancel or restructure public and private debts, including student loans and developing countries’ external debts. Wealth Redistribution Programs: Establish wealth caps or inheritance taxes. Use revenues for housing, education, healthcare, and infrastructure. Public Banking Systems: Encourage public or community-owned banks to provide low-cost credit to local businesses and residents. Climate-Focused Financial Policy: Redirect investments toward sustainable and green projects to combat environmental destruction. Living Wage Laws: Increase minimum wages to ensure economic equity and reduce the reliance on financial assistance. | Austerity Measures: Reduce government spending, particularly on social programs. Prioritize balanced budgets to limit national debt growth. Deregulation: Reduce government oversight of financial markets and institutions. Encourage free-market solutions to drive growth and innovation. Tax Cuts: Lower taxes, especially for businesses and high-income earners, to stimulate investment and economic growth. Privatization: Shift public sector functions (e.g., pensions, health insurance) to private entities. Limit government intervention in the economy. Gold Standard Advocacy: Advocate for a return to commodity-backed currency, such as the gold standard, to stabilize inflation and debt. Opposition to UBI or Welfare Expansion: Argue against UBI and welfare, claiming it discourages productivity and increases dependency. Reduced Central Bank Power: Support auditing or abolishing central banks like the Federal Reserve. Promote decentralized or regional banking systems. Monetary Tightening: Advocate higher interest rates to control inflation, often at the cost of slower economic growth. Supply-Side Economics: Focus on creating favorable conditions for businesses through incentives and reduced regulation to stimulate economic activity. Hardline Immigration Stances: Reduce immigration to limit strain on social services and prioritize native workers. |
While these proposals from the left and right are often well-justified responses to economic and monetary problems, their implementation typically endures only as long as the political parties or ideologies that champion them remain in power.
In democracies, policies frequently oscillate between conflicting priorities, with tax, monetary, and welfare reforms undone by subsequent administrations.
Similarly, in authoritarian systems, reformist measures tend to dissolve once the enforcing leader or regime loses authority, either due to internal instability or shifts in power. This persistent back-and-forth leaves structural monetary issues unaddressed, perpetuating long-term economic stagnation or instability.
Bridging Left and Right: How the UBI Token System Aligns with Both Ideologies
The UBI Token System represents a groundbreaking approach to addressing long-standing monetary and social issues, achieving a balance between traditionally opposing left- and right-wing policy goals. By introducing universal income in a decentralized and systemic manner, it satisfies both sides of the political spectrum while addressing contemporary challenges like sustainability and social equity.
Integrating Left-Wing Policies: Social Equity and Sustainability
- Universal Basic Income (UBI):
The system ensures every individual receives a basic level of income in the form of digital tokens, addressing left-wing concerns about poverty, inequality, and systemic barriers. This foundational support secures access to basic needs and reduces reliance on government welfare programs. - Sustainability-Focused Spending:
One of the three accounts allocated to every citizen is dedicated to environmentally sustainable purchases, ensuring that part of the UBI directly supports ecological well-being. This account prioritizes:- Recovery sales to reduce waste by salvaging products or food destined for disposal.
- Eco-conscious goods to encourage sustainable consumer behavior.
- Social Benefits for All:
Governments save significantly on unemployment and social welfare costs. These funds can then be reallocated to public projects or innovative social initiatives that benefit the wider population.
Reflecting Right-Wing Priorities: Fiscal Responsibility and Economic Efficiency
- No Long-Term Cost to Governments:
After the initial implementation phase, the UBI system operates independently of state budgets. Its human standard—tying currency issuance to the population size rather than debt or commodities—ensures governments are not burdened with perpetual costs. - Reducing Government Debt:
With reduced expenditures on welfare and unemployment benefits, governments can focus on debt reduction, a key right-wing priority. The funds saved can also be channeled into national defense, infrastructure, or tax cuts, depending on the governing ideology. - Empowering Free Markets with Guardrails:
While the system integrates sustainability-focused spending, the remaining two accounts offer individuals freedom in how they allocate their tokens, ensuring a blend of personal liberty with ecological responsibility.
Systemic Stability Beyond Political Cycles
One of the most revolutionary aspects of the UBI Token System is its systemic nature, which ensures continuity regardless of the political party in power. Unlike traditional reforms that oscillate between left and right priorities depending on electoral outcomes, this system is self-sustaining and operates beyond short-term political pressures.
Conclusion: A Unifying Framework
The UBI Token System demonstrates that bridging left and right priorities is not only possible but essential for long-term economic and social stability. It guarantees:
- Support for the vulnerable (left).
- Fiscal prudence and reduced government intervention (right).
- Sustainability and responsible consumption (for future generations).
By addressing the concerns of both ends of the political spectrum and ensuring systemic durability, the UBI Token System represents a viable path toward equitable, efficient, and sustainable monetary reform.