Abstract
Introduction of green chemistry will require a large sum of finance to conduct basic research and develop applications at various research institutes in the public and private sector. To meet the financial needs, the author suggests a change in the currency system commonly applied in most countries to a mix of debt currency and equity currency, in which the latter means currency directly issued by the government, thereby avoiding arguments on the upper limit of government bond issuance. In most advanced economies potentially with large excess supply capacities, bad inflation never takes place as long as workers can work in peace under good securities, and as long as additional budget can be used in proper manners. This new currency issuance system for sufficient public funding will not only support research and realization of green chemistry, but also solve social problems by assisting the underprivileged, etc.
-
Author contributions: The author has accepted responsibility for the entire content of this submitted manuscript and approved submission.
-
Research funding: None declared.
-
Conflict of interest statement: The author declares no conflicts of interest regarding this article.
References
1. “Money” fifth and revised edition copyright © 1984 by Lawrence S. Ritter and William L. Silber. Chapter 13 SHOULD WE WORRY ABOUT THE NATIONAL DEBT?.Search in Google Scholar
2. “Abenomics” was Japan’s national strategy by Prime Minister ABE Shinzo from 2013 to2020. It consists of 3 pillows called “Arrows”, 1. Drastic monetary easing, 2. Flexible fiscal policy and 3. Private sector growth strategy by liberalization for investments.Search in Google Scholar
3. The United States Mint is a bureau of the Department of the Treasury responsible for producing coinage for the United States. Similarly MOF of Japan has a mint to produce coins.Search in Google Scholar
4. The CONVERSATION “Why the federal budget is not like a household budget” by Warwick Smith; Research Economist, University of Melbourne (2014, Dec. 17) explains that “When a government creates money, it isn’t creating value from nothing. The value lies in the human and capital resources that are underutilised in the economy. The money created by the government is simply the lubricant needed to mobilise these resources”.Search in Google Scholar
5. “Sri Lanka food crisis: Forex dips to risky levels. Can Colombo avoid IMF?” in “New Delhi Times” of India of September 20, 2021.Search in Google Scholar
6. The World Bank’s website. Available from: https://data.worldbank.org/indicator/DT.DOD.DECT.GN.ZS?locations=MN.Search in Google Scholar
7. Mongolian Tugrik: currency of Mongolia.Search in Google Scholar
8. Number of people who are homeless and relying on emergency homeless accommodation in the website of “Focus Ireland”. Available from: https://www.focusireland.ie/knowledge-hub/latest-figures/.Search in Google Scholar
9. Press Release of April 27, 2021 by the Ministry of Environment(MOE), Japan. “MOE discloses the estimated amount of Japan’s food loss and waste generated in FY 2018” “The estimated total amount of food loss and waste generated (including inedible portion) was approximately 25.31 million tons. Within this amount, it is estimated that approximately 6 million tons was edible”. Available from: https://www.env.go.jp/en/headline/2515.html.Search in Google Scholar
© 2021 Walter de Gruyter GmbH, Berlin/Boston
