ggwood's Journal: Two Currencies

When we hear horrible economic news, it causes suffering even in the wealthiest nations. Yet the proposed remedies, such as more generous welfare benefits, or perhaps less government regulation are questionable in their ability to address the real problems and politically nonviable.

I believe there is an alternative which will be palatable to most in the US and will preserve the best aspects of capitalism while mitigating the damages.

It is a bit complicated, and I've written about it in a blog:

http://twocurrencies.blogspot.com/

It involves having two currencies, one completely optional currency system people can choose to work with which can pay only for necessities (a bit like food stamps are now).

The goal is to remove the base necessities of life from the table: by working for those first (again: only if you want to - this is totally optional) and then (or in parallel) working for dollars to buy luxuries.