Inspired by the idea of a “time bank” that lets people exchange goods and services, I propose a Generative Bank. A Generative Bank allows people the ability to meaningfully contribute their talents within their community and ensure their own needs are also met, but not according to market prices (as is currently the case) or in a 1 hour donated = 1 hour received manner (e.g. time bank), but in a manner that increases the generative value of the community’s human and environmental capital, and provides incentive for folks to develop higher value skills. The goal of the Generative Bank is that each individual can sustain a healthy life through working 1-10 days per month, depending on their skill set and the needs of the community.
Why is it necessary?
This system is not to replace a market for labor, goods and commodities, but to supplement it, to act in parallel, so as to give individuals who are not interested, or unable to compete, in a global marketplace for wages (that are necessary to secure the inputs for life), a means to work to acquire such necessities, and have surpluses of time and energy to invest in their current prosperity and future needs. This system would not be needed if markets could enable ALL of us to acquire these necessities, invest in the future and prosper. The market has shown to work for many, but not all in this regard.