Politico-Economic Theory of Decentralized Democracy
This paper describes foundational principles and practical approaches to
creating a decentralized version of such systems as fiat currency,
banking, taxation, budget allocation and self-governance at the state
and local level. Main characteristics of decentralized governance are
that the people vote on the money supply and its sources, tax and
interest rates; the majority voters may be financially liable to the
minority voters if public spending defaults; non-monopolistic central
banking system; stock market can be extended to small and medium
business.