Creating Sustainable Societies: The Rebirth of Democracy and Local Economies first pinpoints the central problems within our monetary, financial, and corporate systems that have led to underemployment, debt, environmental degradation, climate change, and hyper-inequities of income and wealth. The book then proposes a bold yet practical blueprint for developing and implementing local monetary, financial, and corporate systems that address these concerns and speed the transition to a sustainable society.
Involvement occurs on a volunteer basis and is organized via a type of community benefit association called a Principled Society Corporation (PSC). A PSC is designed to boost a local economy, create jobs, fund schools and nonprofits, and produce other social and economic benefits for its members and all people within an urban area.
Principled Societies Framework
The Principled Societies framework consists of three elements:
Token Exchange System (TES)
The Token Exchange System is an advanced form of local currency. Tokens are an electronic currency issued free of debt by a PSC. They complement the dollar and are designed to be inflation-free.
Principled Business Model
A Principled Business is a new community-centric corporate model. It retains the social mission, transparency, and accountability of a nonprofit, but, like a for-profit, generates revenue through sales. A TES generates interest-free loans for standard and Principled Businesses via a novel crowdfunding operation. A similar crowdfunding operation generates donations for local schools, nonprofits, and public services.
Collaborative Direct Democracy
A PSC governs itself using an efficient form of online direct democracy that allows all members to participate in the creative process of developing and revising rules.