So here's a concept for you:
Human-based wealth creation, as opposed to monetary policy set by central banks.
By the sweat of your brow, money is created.
How it could be accurately monitored? A combination of RFID chips on workers' uniforms, plus a smart punch clock that would be able to track when the worker is on the job site, would accurately monitor a worker's time spent working.
Multiply that by the hourly rate, and you get the salary - created by their efforts and skills, not by government policy, per se. The government would then be able to approve this creation of value, and grant that they have generated some wealth for the economy, and grant it into their bank account.
Just like how tangible goods (say food) have a value, tangible effort should have a value as well. But I don't think creating money out of thin air and charging interest on it is a sustainable model for an economy. This is what central banks all over the globe do - and it does not add up.
1 + interest does not equal 1. That's how you get inflation.
If you want to start a business, governments should be able to give you a grant - not a loan, in the interest of growing the economy. A loan with interest would imply that they expect something in return, that does not exist yet.
Again, 1 + interest does not equal 1, resulting in more money needing to be printed, and devaluing the currency.
Perhaps there is some leeway with the concept of interest based on my proposal of measuring the effort put into a job for a set number of hours/weeks/etc.
But for now, that's what I would like to see.
Human-based wealth creation, as opposed to monetary policy set by central banks.
By the sweat of your brow, money is created.
How it could be accurately monitored? A combination of RFID chips on workers' uniforms, plus a smart punch clock that would be able to track when the worker is on the job site, would accurately monitor a worker's time spent working.
Multiply that by the hourly rate, and you get the salary - created by their efforts and skills, not by government policy, per se. The government would then be able to approve this creation of value, and grant that they have generated some wealth for the economy, and grant it into their bank account.
Just like how tangible goods (say food) have a value, tangible effort should have a value as well. But I don't think creating money out of thin air and charging interest on it is a sustainable model for an economy. This is what central banks all over the globe do - and it does not add up.
1 + interest does not equal 1. That's how you get inflation.
If you want to start a business, governments should be able to give you a grant - not a loan, in the interest of growing the economy. A loan with interest would imply that they expect something in return, that does not exist yet.
Again, 1 + interest does not equal 1, resulting in more money needing to be printed, and devaluing the currency.
Perhaps there is some leeway with the concept of interest based on my proposal of measuring the effort put into a job for a set number of hours/weeks/etc.
But for now, that's what I would like to see.
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