Social Wealth Funds And An Avant-Garde Blockchain Accounting System

Abstract

The social wealth fund opens up important questions of common ownership and democratic control. It can also serve to start a conversation around the ways in which we value socially useful goods. The production of socially beneficial economic activity through the social wealth fund could, and should, not consider 'profits' as an economic metric. Instead, every time a socially beneficial task is completed, such as tasks implied in social care services, the provision of universal basic services, or production of additional housing, the social wealth fund accounting system could record the 'cost' of the task rather than the 'profit' made from delivering the service. Here are the reasons why this is a good idea.