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Monetary Commons: a new public institution for reframing Basic Income as a Personal Dividend

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  • Romanowska, Iza
  • Varoufakis, Yanis
  • Arar, Raphael

Abstract

Departing from tax-funded UBI approaches this paper proposes a Personal Dividend that socialises the money-creation power hitherto monopolised by private banks. Central to the proposal is a voluntary migration of funds to the digital Monetary Commons, with increased personal dividends stabilising money supply through the negative money multiplier, thus reducing inflationary pressures, eliminating the need for Quantitative Easing, enabling revenue-neutral Pigouvian taxation, reducing wealth inequality, and enhancing systemic stability. Using agent-based simulation, we test adoption feasibility under various scenarios. The scheme consistently succeeds across diverse conditions, demonstrating its potential as a sustainable and voluntary alternative to conventional UBI frameworks.

Suggested Citation

  • Romanowska, Iza & Varoufakis, Yanis & Arar, Raphael, 2025. "Monetary Commons: a new public institution for reframing Basic Income as a Personal Dividend," SocArXiv jq5v7_v1, Center for Open Science.
    • Handle: RePEc:osf:socarx:jq5v7_v1
    DOI: 10.31219/osf.io/jq5v7_v1
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