Idea #14: The Currency of Currency!

This idea came up in a discussion with my friends a few years ago. I think the idea just evolved during our discussion so no one person can be credited to it.

Money is often considered as the root of most evils and that it corrupts people beyond redemption. If we think about it though, it’s not money but the hoarding of it and the imbalance that the hoarding creates in society which is the main problem.
The idea goes like this. What if the wealth of an individual had an expiry date? One may have any amount of wealth but will seize to be theirs after a certain time. So what ever they want to do with the wealth has to be done within the set period.

After the expiry date whatever wealth remains goes to a common world pool and will be circulated to others after that. This happens to every single individual globally. So one can hoard money beyond a certain period and since hoarding money doesn’t make sense people will be perpetually spending and money is always in circulation and never away in bank lockers and deposits.

On the surface this sounds like a socialist idea but hang on there is an interesting twist here.

Irrespective of how much money you own you are allowed to spend only a certain amount before which the total amount expires. You may ask why? It’s simple actually. Since individual wealth has an expiry date everyone will be greedy to buy and hoard ‘things’ instead of money and soon the world will run out of resources and be unable to feed this kind of consumption. Hence the limit on spending.

What about profits, motivation to succeed, to become rich to excel etc etc. What’s the point if I cannot even keep my money?
Well there is a solution to this too. But before that please pause to think of the possibilities that the above process can create. Money is constantly in circulation, we will never have disproportional inflation or deflation. Markets won’t crash because of the circulation of money etc etc.
Now coming back to the bit about motivation to succeed and how do we differentiate the performer v/s the non performer. Simply by allocating lesser amounts and much more time to spend that money and adding a condition that subsequent allocation will not happen till that prolonged expiry date runs out. High performers are allocated more money and faster expiry dates and quicker fresh allocation. So there you go, there is enough monetary reason for you to be successful and excel at what you do.

So the key rules of this system are,

1. Money has an expiry date for the individual after which it moves on
2. You can spend only a limited amount within each expiry period
3. Non performers are allocated lesser money and more time to spend it
4. High performers are allocated more money, faster expiry dates and quicker new allocation

So, how current is your currency?