This book advocates a holistic reform of the current monetary and financial system dealing with the issues of money creation, central banks, loans, stock markets, tax justice, pension security and the international monetary system - âBretton Woods IIâ. Its innovative approach presents several alternatives for each cornerstone, in addition to introducing a participatory democratic process whereby sovereign citizens can themselves determine the rules governing the new financial and monetary system. With âdemocratic money conventionsâ in each municipality, where the elements of this new money system are discussed and decided on in a participatory manner, and a federal money covenant which then elaborates a template for a referendum about the future âmoney constitutionâ, a true âsovereignâ could progressively convert money from a financial weapon into a democratic tool. The envisaged democratic monetary system, by providing equal opportunities for every member of society toparticipate in the development of the ânew rules of the gameâ, turns money progressively into a public good which increases the freedom for all. The new system furthermore drives the enhancement of constitutional and relational values such as human dignity, solidarity, justice, sustainability, or democracy. Money should serve life and should serve the common good. The âBank for the Common Goodâ Project, which was initiated in Austria by the author Christian Felber, represents a practical example of his proposals.
