Kevin brought up a great point in in a recent comment: What is the economy in the City of the Future (CotF)? There are a few concepts that seem intriguing.
- First, the concept that each citizen is a shareholder in the city itself with different amount ownership earned through contribution.
- Second, a concept of a public/governmental banking system that loans money without interest for pre-approved projects that increase greater good of the city.
- Third, a restriction, such as a heavy tax, on all other forms of consumer credit with interest.
There appears no good reason not to use the legal tender of a surrounding country, especially if it is relatively stable. Taxation becomes a tricky question. What do you tax and how do you use the money?
More thoughts to come on taxation later.
I came across your blog on Technorati. Nice site layout. I will stop by and read more soon.
Mike Harmon
The economy of the future remains capitolism; promoting enterpreneurial innovation should continue. Combined with responsible Democracy it’s still the best system around.
However, since we’re promoting positive modern ecological practices, use of capitolism should be accompanied by heavy financial incentives for ecology, economy of resources, and re-investment in our cities.
After all: What is the greatest investment we all make as citizens, or individual adults?
ANSER: Property! It’s the one thing that truly never loses value. Except in temporary fluctuations in market value, eventually ALL real estate holds increasing value.
That alone is the strongest argument for investing in an arcology. Together we stand strong!
Oh, that gives me some ideas for naming CotF!…
…Getting back to the subject:
The concept of monetary management in CotF, it should use area legal tender (State & Federal). What CotF can contribute is either property value, or expanded personal ‘footprint’ return for contributions; either for financial, or for work in the form of aid in building, growing, or sustaining CotF.
Local taxes would be re-invested in sustaining or growing the City.
Should someone choose to sell their share, office, or home in CotF, then they may. If there are no immediate takers, then the city could purchase that property. This will help ‘hold’ value.
Too many urban (and now suburban) communities allow properties to be abandoned. This draws down all neighboring property values, eventually becoming a drag on ALL local real estate, both private & commercial.
On the other hand, CotF should hold ultimate property disposition rights; invesment, purchase or re-aquisition of abandoned property. Then it can reward those who work for or re-invest in the community
Another financial value of Arcology-styled cities of the future:
Just think of all the funds most municipalities currently waste on public roads, deteriorating infrastructure, and landfills! If that same money were to be re-invested in reducing the need (not just desire) for automotive dependency, then EVERY city would be able to both SAVE AND INVEST in rebuilding ecologically & financially sustainable growth.
This is what an Arcology, or City of the Future, will contribute to civilization, and give back to the environment.
In other words: THE FINANCIAL VALUE ALREADY EXISTS TO BUILD FANTASTIC CITIES OF THE FUTURE, IF WE APPLY BETTER MANAGMENT OF OUR RESOURCES, IN ECOLOGICAL CONSERVATION AND SUSTAINABLE GROWTH.