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 - Bretton Woods II. 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 democratic money conventions 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 money constitution a true sovereign 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 to participate in the development of the new
rules of the game 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 Bank for the Common Good Project which was
initiated in Austria by the author Christian Felber represents a practical example of his
proposals.
