- that money-hoarding is the primary cause of wealth disparity
There are many causes of wealth disparity. But consider what factors are leading to wealthy people getting wealthier: technological advances, leveraged financial speculation, high education costs, corporate subsidies. And then consider what factors are leading to working class people not accelerating their wealth at the same rate: high medical costs, skill irrelevancy, overexposure to credit. Money sitting in banks is not causing the disparity. If anything, people using money in the economy in order to invest is causing much of the disparity.
- that the role of money as both a savings instrument and a transactional instrument is problematic and leads to financial crises
The durability and reliability of a particular kind of money is the reason people use it for transactions. This also makes it useful for storing value. Why would this dual use lead to financial crises? Some of the greatest financial crises are actually related to money becoming un-savable (due to inflation).
- that demurrage would benefit working class people
Making money more complex would not happen in a vacum. In terms of storing wealth, who would really be in a position to protecting and growing their wealth in an economy running on a financial complexity like demurrage? Educated elites. By default, the little savings that working class people could set aside would dwindle, and they would begin to place trust in more reliable means of wealth storage like hoarded commodities. Of course, savings instruments could also be made available to working class people, but educated elites would still hold the upper-hand.
- that money-hoarding is the primary cause of wealth disparity
There are many causes of wealth disparity. But consider what factors are leading to wealthy people getting wealthier: technological advances, leveraged financial speculation, high education costs, corporate subsidies. And then consider what factors are leading to working class people not accelerating their wealth at the same rate: high medical costs, skill irrelevancy, overexposure to credit. Money sitting in banks is not causing the disparity. If anything, people using money in the economy in order to invest is causing much of the disparity.
- that the role of money as both a savings instrument and a transactional instrument is problematic and leads to financial crises
The durability and reliability of a particular kind of money is the reason people use it for transactions. This also makes it useful for storing value. Why would this dual use lead to financial crises? Some of the greatest financial crises are actually related to money becoming un-savable (due to inflation).
- that demurrage would benefit working class people
Making money more complex would not happen in a vacum. In terms of storing wealth, who would really be in a position to protecting and growing their wealth in an economy running on a financial complexity like demurrage? Educated elites. By default, the little savings that working class people could set aside would dwindle, and they would begin to place trust in more reliable means of wealth storage like hoarded commodities. Of course, savings instruments could also be made available to working class people, but educated elites would still hold the upper-hand.