Money and Time

Is there enough money in the world for everyone to have enough? If so, how would it affect the economy if everyone did?

Besides on hand currency, money as owned by the common people, is nothing more than ones and zeros stored inside computers. Positive and negative numbers. These positive and negative numbers are stored inside banks are the property of the bank. The negative numbers represent the monetary value of assets owned by the bank. To the extent that negative numbers in the form of loans are stored inside those banker’s computers, the associated property is owned by the bank. The person’s future positive income numbers are used to offset negative loan numbers.

Economies will always operate. If we need a currency, we can use rocks as long as our society agrees and accepts the rocks in exchange for goods and services. In the age of instant information provided by computer networks, buyers and sellers meet one another in an electronic market. Given the immediacy and persistence of information, barter economies in the modern age could work. The currency of a barter economy is comprised of products and time.

The question itself masks deeper issues. The fundamental issue is human time. Is there enough demand for human time so that everyone is able to earn money. As demand for human time decreases because of automation, where will the jobs come from?

Suppose we were to create an economy based upon the value of human time. I invest forty hours per week which established my value in the market. I am the producer of 40 hours of productivity. My time is banked and only converted to money when I have bills to pay. I pay taxes when my time is monetized. If I need to borrow extra money it is available at zero percent (0%) interest rate.

Solve poverty by lending people money and expecting them to pay it back from future monetized time investment. The book “Newland 2084” these topics and proposes a workable solution to Poverty.

Is USA an Economic Utopia?

This answer is based upon the Quora question Is the United States an example of an Economic Utopia?

A “Utopia” cannot exist in real space and time because the meaning of the word is “no place”. A utopia is a vision. It lives inside the human brain. The vision of a utopia can be spoken, written down, or presented in some producer work. Another human can hear, read, or consume the utopian vision. Utopia requires easily understood rules. It requires communication from one human brain to another.

OPINION

At the level of our Constitution, we are not a utopia now because of direct taxation of the people. We need an Amendment to our Constitution to abolish Income Tax and replace it with a 10% Sales Tax. It must be a universal gross sales cost that is applied to every currency transactions and has no exemptions. No VAT tax. Rich or poor person. Beggar or investor. Government itself. Church donations. Mortgage. Food. Utilities. Stock market trader. Private jet buyer and flyer. Food, Clothing. If money changes hands taxes are owed. Swapping mass or energy based products is taxable. Other swapped transactions owe taxes on gross sales. If unpaid human time is swapped, no transaction cost are implied. Sales Tax is not collected on time swap transactions. When human time is converted to money taxes on income from human time investments is not taxed.

The gross sale includes an automatic 10% U.S. Sales Tax. Pay off the national debt and then lower the tax rate and see what happens.

If you come up short and can’t pay your basic living, housing, utilities, transportation, education, and medical bills, the Federal Reserve Bank FRB will let you close all credit cards forever and then they will then lend you the money you need at 0% interest to make your other bills. You will pay the 0% interest loan money back over a lifetime of work.

The above described USA would be an Economic Utopia.