The Citizens' Ledger: Digitizing Our Money, Democratizing Our Finance

Prologue: Money Without “Middlemen”
Praise for The Citizens’ Ledger
Contents
List of Figures
1 Introduction: Money, Finance, and Production in Contemporary Commercial Republics
	1.1 Money and Production, Public and Private: The Two-by-Two Matrix of Commercial Republican Economies
	1.2 Ills of Financial Hybridity—And Their Possible Money-Tech Cure
	1.3 Digitized Citizen Ledger Finance as Our Newly Available Cure
	Notes
	2 Money, Capital, and Investment: Fixing Some Critical Terms and Relations
		2.1 Capital: A Crucial Yet Oft-Muddled Term
			2.1.1 Production: What Capital Is (Ultimately) For
			2.1.2 Generic Capital
			2.1.3 Generic Capital in Production—Investment Capital
		2.2 Investment: Antonym and Antidote to Speculation
			2.2.1 Investment and Finance
			2.2.2 Stratification and N-ary (a.k.a. “Meta-”) Markets
			2.2.3 Intermediation, Derivation, “Financialization”
		2.3 Money: From Measure to Medium—and Back
			2.3.1 Paying—Including Investing
			2.3.2 Accounting
			2.3.3 Crediting/Debiting
		Notes
	3 Franchise Finance: A Brief Exposition and Exposé
		3.1 Hybridity in the Large: Exposition
		3.2 Hybridity in Detail: Exposé
			3.2.1 Credit-Money’s Endogeneity: Private Lending of Public Capital
			3.2.2 Endogeneity’s Blessing—And Curse: Production and Wealth, Speculation and Recursive Collective Action Problems
		Notes
	4 Franchise Finance: Why and How We Got Here
		4.1 Why Credit and Currency
			4.1.1 Credit: Production and Payment in Time
			4.1.2 Currency: From Ledgers to Tokens—And Back
		4.2 Why Uniformity
			4.2.1 Spatial Uniformity: Payments and “Universal Equivalents”
			4.2.2 Temporal Uniformity: “Sound Money” and “Elastic Currency”
		Notes
		5 Franchise Finance: Why We Retain It—And Why We Need Not
			5.1 Why We Retain It: New Facts, Old Ideas
			5.2 Why We Need Not:  New Facts, New Prospects
			5.3 Ending Hybridity—Citizen Ledger Finance in Broad Outline
			Notes
			6 Digitized Citizen Ledger Finance: What We Now Can and Must Do
				6.1 Liability-Side Reform: Reserve Accounts, Citizen Wallets, and Resident Wallets
					6.1.1 What the U.S. and Others Do Now: Reserve Accounts
					6.1.2 What We Must Add: Digital Citizen Wallets, Resident Wallets, and Their Common Digital Ledger
				6.2 Asset-Side Reform: Digitized CB, NIC, PSF, and Other Public Issuances
					6.2.1 What We Do Now: Finance Ministry Debt, Agency Debt, and (Sometimes) Other
					6.2.2 What We Must Add: Digitized CB-Discounted Paper, NIC Issuances, PSF Holdings, and Other
				6.3 Systemic Ramifications: Private Sector Transformation and Public Sector Consolidation
					6.3.1 Private Money Capital: From Credit-Generation and -Multiplication to Honest Intermediation
					6.3.2 Public Investment Capital: From Central Bank and Finance Ministry, Fiscal and Monetary, and “T-Bill,” “Fed Note,” and “Mint Coin” Separation to Digital Consolidation
				Notes
				7 Digitized Citizen Ledger Finance: Logistics and Technics
					7.1 From Abstract Accounting to Concrete Logistics: Making It Happen Now
					7.2 From Macro Logistics to Micro Technics: Why to Digitize Now
						7.2.1 The Bright Side of the Ledger
						7.2.2 The Dark Side of the Ledger
					Notes
					8 From Digitized Citizen Ledger Finance to Citizen Fintech: Democratic Digitization and Its Possible Forms
						8.1 Moneys and Payment Systems
						8.2 From Payments to Moneys: Technical Options for the Democratic Digital Currency
						Notes
						9 Digitized Citizen Ledger Finance: Cavils and Competitors
							Notes
							Epilogue: From Fintech to Ourtech—And Our Finance
							Index