Post a flurry of exuberant outpouring on Radical Proposals (links at the end of the post) aimed at tackling some of society’s most pressing problems, HaLin hit the pause button. Few seemed excited (HaLin actually pitched more palatable versions of the ideas to powers-that-be, who quickly reminded the fable of the goose that lay the golden egg), and less pressing issues took precedence. On careful search for thorny problems demanding somewhat crazy solutions, HaLin hit upon a problem worthy of addition to his expanding list of Radical Proposals.
Anyone who has been around academics/scientists/researchers, real or otherwise, for any length of time would notice a common grouse. Lack of funding. HaLin has long been an admirer of the Sciences – Natural, Social and Pseudo – and has strongly believed that the inability of the Illuminati to communicate with lesser mortals should not detract from their grand mission; of ridding the world’s problems. This community, generally also believed to exhibit scant understanding of the real world, are most comprehensible when complaining about the utter lack of funding and understanding on society’s part, of their many vital contributions. Rejected research proposals are attributed to recalcitrant attitudes or ignorance or both. Moreover, despite much progress, humankind is besotted with more problems than it would like to have on its menu. Solutions are nowhere in sight.
Given this, humankind faces a serious problem. A proposal to solve this pressing issue of lack of funding, whilst maintaining economic sanity, is duly recommended; for dissection, digestion, suggestion, redaction and comment. Though, criticisms are expected to feature most prominently.
Put simply, every single research proposal across the globe vying for funding, would receive full funding support. To ensure impartiality, a pan-global entity – Mission for Advanced Research Solutions (MARS) – could be constituted to administer duties. MARS could be empowered legally to print money in unlimited amounts, with the sole constraint of doing so to fund research projects. MARS grants would not be entirely contingent on viability to humankind and probability of success. The currency used by this entity would be a special unit, perhaps referred to as RGU (Research Grant Unit).
Every earthling alive would hold an equal share in MARS, so benefits would flow directly and equally to all earthlings. No corporation, or a small set of privileged individuals would be shareholders; as in the present-day arrangements in key economic entities around the world. To ensure market stability, trading in these RGUs would be prohibited.
Earthlings in dire need for more RGUs could enter into a barter exchange agreement with fellow earthlings, with MARS standing in as the global Custodian and watchdog. For instance, University X that badly needs extra RGUs might enter into a barter exchange with University Y, on mutually acceptable, bilateral arrangements. The Over The Counter (OTC) barter system might also insure against black market or surreptitious trading, a common outcome when public trading is banned in a commodity of some value. This would also ensure reasonable matching of excess and deficits, whilst maintaining broad market stability.
It is likely that this broad brush, open-for-all approach would encourage many to seek a career in academia/science instead of heading to finance and assuming a bad name, by default. The attractive pay-off could potentially dwarf the pay-off provided by finance. As an unintended consequence, this would solve one major problem confronting the world today; vilification of finance. However, the open door would likely encourage rampant misuse, which remains a risk.
With time, there would be a proliferation of RGUs in the hands of the Illuminati, which would, essentially, be extra currency in their wallets. At some point in time, a seamless medium of exchange between RGUs and existing paper currency would be introduced (at a 1:1 exchange rate) to ensure smooth functioning (many services that the Illuminati would use for their research would have to be paid for, using actual currency).
This would lead to a new problem. Excess paper currency on Earth. The MARS Project, with its printing of RGUs, would be akin to the present system of Quantitative Easing, being employed to combat the world’s economic woes. The creation of a parallel currency system – the RGU – is recommended keeping in mind the ill-effects of excess currency floating in the world. As excess money would lead to a surge in inflation at some point, the creation of RGUs would be a first step at ensuring that continued (new) currency creation would not awaken the ogre of inflation.
In the moratorium period that would ensure post creation of MARS, RGUs would assume the character of future money, exchangeable for existing currency at central banks around the world. Till such time, RGUs would not enter the world financial system, and inflation would be kept at bay. When the exchange takes effect, a surge to swap RGUs for existing currency might be reasonably expected.
To smooth the effect, the Illuminati (who would hold much of the world’s RGU) would be suitable encouraged to deposit their RGUs at a warehouse specially created for this purpose; in planet Mars. Much of Mars’ atmosphere is carbon dioxide, which would serve as a reasonable deterrent to a daring heist (the thieves would have to be alive, which isn’t possible presently). The warehouses in Mars might be within the realm of possibility, thanks to the outcome of the many research projects that would bear fruition due to creation of the MARS Project. Machines administered by MARS would preside over the to-and-fro transactions. Withdrawals from the warehouses could be restricted to a semi-annual cycle, and to within, say, 25% of the RGU balance held by the individual. To further encouragement, an annual rate of interest – payable in RGU – would be on offer.
This proposal, if implemented, would let the Illuminati enjoy the fruits of their labour, even if part of the enjoyment would be deferred, their grumbling would cease. The world would get solutions to many thorny problems, old and newly created ones. While net currency in circulation on Earth would increase, the above laddered proposal pertaining to savings and withdrawals, would smooth the effects of inflation.
To be sure, this scheme is not infallible. Like any system, it is open to gaming and has chinks which need ironing out. Just the basic construct has been presented here. Specifics have been deliberately left out, for want of space and to let you, dear Reader, contribute in shaping this proposal.
Radical Proposals, selected archives: