From: Philip Goetz (philgoetz@gmail.com)
Date: Mon Jan 08 2007 - 17:40:00 MST
How about a generalization of credit, in which everyone can "buy"
things and "sell" things without limit, out of your personal account -
but the more negative your balance goes, the less your money is worth.
This would be a form of personal currency. In effect, you could
"print" as much as you liked, but that would devalue it.
A strange result might be that, as people grew richer, the money they
already had would become more valuable, because their credit would be
better.
Credit today is an indirect method of accomplishing this - the worse a
credit risk you are, the higher an interest rate you have to pay to
borrow.
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