In Gurley and Shaw, <a href="http://www.ebook3000.com/Money-in-a-Theory-of-Finance_89258.html">Money in a Theory of Finance</a>, the concept of "Social Balance Sheets" is introduced in Chapter II "Rudimentary Finance".

Here is a social balance sheet I envision:

<code>

                   Business Sector
assets                    |               liabilities
-----------------------------------------------------
Gifts                     |                  Goodwill
Incremental Innovation    |              Less Control
Goods                     |                Challenges
Money                     |
                          |



                  Consumer Sector
assets                   |              liabilities
---------------------------------------------------
Effort                   |              Voluntarism
Disruptive Innovation    |                    Gifts
Money                    |                   Ahimsa
                         |



           Government Sector
assets             |        liabilities
---------------------------------------
General Welfare    |              Money
                   |
</code>

(Generated with <a href="http://subbot.org/coursera/money2/bsagent/">bsagent</a>, using <a href="http://subbot.org/coursera/money2/bsagent/gurley/social_balance_sheet.script">this script</a>, producing <a href="http://subbot.org/coursera/money2/bsagent/gurley/social_balance_sheet.output">raw output</a>.)

---

Money issued as a liability by the Government can be financed by T-bills, sold directly or through a Central Bank. Thus the private sector has a stake in the money issued by the Government.

Gifts from the Consumer Sector include disruptive innovations which become assets of the Business Sector (through Challenges, perhaps). The Business Sector can then practice what it does best, incremental innovation.

No taxes are necessary. Unexpected inflation should not occur because Business is getting what it wants, money that pays interest (through the purchase of T-bills). Business is also freed from worrying about taxes or payroll, so it can concentrate on core activities such as distributing goods and services to the public, and incremental innovation. 

Business might have to give up some control. "Business would rather control mediocre people than be out of control with talented people." (Source: Alan Kay, <a href="http://sloanreview.mit.edu/article/bridging-the-gap-between-stewards-and-creators/">Bridging the Gap Between Stewards and Creators</a>.) But business can gather a group of like-minded individuals who enjoy control games, while outsourcing disruptive innovation to individuals beyond their control.

---

Why can't this system exist in parallel with the current market-oriented system? Give people an option to choose to try to disruptively innovate, or volunteer for public service, instead of working for the private sector to earn a living.

The social balance sheets (such as those in <a href="http://www.kuro5hin.org/story/2014/7/29/18745/2455">Rudimentary Finance I</a>) sketch the financing. There is no need for hyperinflation or shortages. The likelihood is for knowledge and technology to advance at an increasing rate, thereby raising standards of living.