Society to Benefit Everyone

A Shared Vision

A New Society
Overview
Immediate Benefits
A Sensible Economy
True Democracy
FAQs
Draft Constitution

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Participating Merchants
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Frequently Asked Questions

	So how does this new economy work exactly?
	Does joining a Common Good Bank™ mean I have to change my whole way of life?
	Are Common Good Banks™ patriotic?
	How does a democratic economy lead to the world of our dreams?
	Do Common Good Banks™ collaborate with organizations already working for a better world?
	Is this democratic economy compatible with a Gift Economy?
	Who are you?

So how does this new economy work exactly?
The economy works like any other checking account, except you get a higher interest rate and rebates on many of your purchases.

When you open your checking/savings account at your local Common Good Bank™, you get some checks and a free ATM card that doubles as a Local Credit Card. Use these checks as you normally would (or present your Local Credit Card) at any participating merchant. Pay the normal amount. The bank handles all the calculations for whatever rebate the merchant offers.

For example:
Say you buy a block of cheese at your local food store, and it costs $9. Write a check for $9 (or present your Local Credit Card) and take your cheese home. You're done! Whatever discount the merchant offers members of the bank is credited to your account automatically.

Your monthly bank statement shows your credits for discount rebates as well as interest. For example, if you spend $100 on goods and services from merchants who offer a 10% rebate, your statement will show a rebate of $5 (the other $5 goes to benefit the community).

How does it work if you are the merchant?
First, open an account at your local Common Good Bank™, and decide what percentage rebate you will offer customers who are also members of the bank (typically 5% or 10%). Customers may choose to do business with you for the rebate or to support their local community. You charge them the regular price and put their check in the cash drawer.

Later, when you deposit the check, your account is automatically credited for the check amount minus your chosen rebate percentage. That's all there is to it!

For example, if you offer a 2% discount and you receive two checks from other bank members totalling $100, your monthly statement will show $100 income minus $2 in rebates, leaving you $98.

Accepting payments by Local Credit Card works similarly. Do not swipe the card. Use your touchtone phone to call the bank's computer. Type in the customer's account number (5 or 8 digits) and press pound (#). Type the dollar amount, using the star for a decimal point, and press pound again. The computer approves the transaction, transferring the funds to your account instantaneously. Hang up and have the customer sign your copy of the sales receipt. Code the transaction as paid by Credit Card or Debit Card, or create a new category.

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Does joining a Common Good Bank™ mean I have to change my whole way of life?
No. Of course we are all changing all the time. Common Good Banks™ will change your life and all of society for the better -- just a little bit at a time, with no great effort on your part. At first, all you may notice is that you and your community have more money.

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Are Common Good Banks™ patriotic?
Yes! Even the great Constitution of the United States is a work in progress, with 27 amendments so far, averaging one every 8 or 9 years.

Common Good Banks™ are an honorable experiment in even better democracy and economics within the laws of the United States, and eventually other countries. Any better ways of living that we discover are to the credit of the current system as well. The people of the United States and the world can only benefit from this benign exercise.

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How does a democratic economy lead to the world of our dreams?
The purpose of government is to serve the common good. Many of society's ills arise from the subversion of government to serve private interests. For example, in our current system, wealthy corporations fund successful election campaigns for the candidate of their choice. This is quite common, because the current economy is not designed to benefit everyone. It benefits wealthy companies and individuals more than others.

In the Common Good democracy there are no elections and everyone can vote on every issue, so it is much harder to use money to influence votes.

The structure of the Common Good economy allows every type of transaction to be taxed differently according to how much it helps or hurts the common good. The electronic nature of transactions permits an automatic rating system for merchants and consumers, like the systems now used, for example, on Ebay and Amazon. In this way, market ethics and service to the common good are largely self-enforcing, saving everyone the unnecessary costs of lawsuits and forcible regulation.

As the Common Good economy grows and more and more participants use a local Common Good Bank™ for their checking and savings, the banks accumulate a considerable amount of cash. This cash can be invested locally, as mortgages, home-equity loans, car loans, and business loans, helping the community both directly and through the interest on those investments.

As more and more assets move to democratically controlled funds benefiting our communities, Common Good Banks™ gain clout even within the old system. New laws are passed. Local governments begin to use the new democracy, giving people a greater say in how the community is run. A gradual shift in national priorities, in one nation after another, away from private gain, toward human needs, results in a huge increase in available wealth, further reducing the tensions that lead to hatred and violence.

Will all this really come to pass? Will the old society self-destruct before we have a chance? Will true democracy work? Given the chance, will we really vote for the common good? Will we avoid the pitfalls of private greed and corruption? No one knows. Let's give it a try and find out.

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Do Common Good Banks™ collaborate with organizations already working for a better world?
Yes. Most such organizations will continue to function well under a democratic economy. Some may be funded directly by Common Good Banks™, if we choose together to spend or lend the money that way.

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Is this democratic economy compatible with a Gift Economy?
Yes. In a Gift Economy, individuals provide goods and services to their friends and neighbors as a gift -- without any payment. In turn, they expect that friends and neighbors will help them when they need a hand. New England barn-raisings are a good example of this practice.

Gift Economies tend to arise informally anywhere that there is a strong atmosphere of community, friendship and trust. A democratic economy creates and nurtures exactly that sort of environment.

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Who are you?
The members of the Society to Benefit Everyone are simply the members of all Common Good Banks™. Eventually, we may be everyone. If you join, by opening an account at your nearest Common Good Bank™, you have an equal say in everything the society does. A list of participating merchants in our experimental democratic economy in Ashfield, Massachusetts, is available here.

Common Good Banks™ and even their branches operate, for the most part, independently. This encourages friendly competition: Who can design the best society? Only the most basic principles are set. We all learn from each other.

Whether or not you decide to join, please contact us with your reactions, questions, and ideas for improvement.

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