The Bancor Commonwealth: The Financial Architecture of a Flourishing World Economy

A new international currency faces a foundational problem: how to distribute the initial supply fairly. Existing proposals (Keynes’s bancor, Special Drawing Rights, BRICS reserve currencies) rely on GDP‑weighted quotas or political bargaining – both of which entrench existing asymmetries. This paper proposes a radical alternative: the Bancor is launched on a per‑capita basis, giving every human life equal representation in the initial currency pool. The value of the Bancor is anchored to a global baseline of value efficiency (F/TPE), measured by the Durable Flourishing Indices. After launch, new Bancors are minted only when global defensive load decreases – through ecological restoration, demilitarisation, or social repair (repair‑minting). Persistent trade surpluses trigger automatic demurrage, redirecting funds into a Global Repair Fund. Nations can strengthen their currency only by raising domestic F/TPE – i.e., by converting resources into flourishing lives more efficiently. The paper outlines an audit framework to ensure repair‑minting is visible, symmetric, contestable, and repairable; a pilot pathway with a concrete timeline; and a strategic contrast between the Bancor’s repair‑logic and the dollar’s debt‑logic. The system can be implemented by a coalition of willing nations (BRICS+, Global South) without requiring Western consent.