Hello and welcome to 22nd Century Economics. This site was designed as a discussion board for ideas about creating the most basic and arguably the most import aspect of human society; A new economic system.
An Economic system begins with a philosophy. We all know a economic system is designed to create a means of supplying areas of need with areas of surplus. However, underlying questions such as money creation or banking systems, moral obligations to each other and the environment, and social values should also be considered.
For example, one premise of the Free Market system is to allow “The Market” or forces of supply and demand to create price. This system has given Western countries, which utilize the Free Market System, superior growth over the last century and produced wealthy nations, with respect to each other. However, issues such as how money is created to produce these wealthy nations are occurring today with negative consequences. Money is created out of debt. In America, every dollar bill and every dollar borrowed has to be paid back to the creator, aka Bank or federal reserve system. If there were to debt, there would be no money and GDP would be Zero. However one has to ask, is it ethical for one generation (government, business and individuals) to borrow so much that it places heavier and heavier burdens for future generations which will be obligated to pay interest on these debts?
Another concern with a Free Market System involves supply and demand factors. Markets are primarily based on consumers. A look at an IQ chart will tell you 85% of the population has an IQ of 115 or below. http://www.iqcomparisonsite.com/IQBasics.aspx. Genius level IQ starts at 140. When producers of products and services look for a “market” they don't go after the small percentages with the greatest intelligence. Producers discover what the lowest common denominator desires, or can be programed to desire, and produce those products and services. This type of system may have conflicting goals. One goal may be to properly educate the public, however by educating the public and teaching them to think for themselves, may not allow politicians or advertisement agencies to program the public to there own wishes, thus shrinking markets.
In the following pages, I've tried to outline a possible economic system with several goals in mind.
Create a money system which does not place a heavy burden of debt on future generations of society.
Maintain the market system to allow diversity of products and services, however create incentives for people to focus on social goals such as food production, medical research, education, exploration, and innovation.
Freeze the cost of raw materials allowing rich or poor counties, access to all materials. My primary concern is food products.
To achieve these goals I've created the following ideas which will be expounded upon in the following pages.
Create an Infinite Money Supply.
Create a “Multiplier factor” for industries/social functions which are used for determining salary. Create incentives, by increasing the factor, or total salary, for people to choose industries or specific positive social functions to work within.
Elimination of the commodities market. This can be achieve because workers are paid through the Infinite Money Supply, lowering the emphasis of “profit making” on the sale of goods or services.
Those that work, are performing a service. Even if that service is producing a good. In short, I'm trying to create an Economic system which rewards the service and not the good produced. The basic idea behind the system is to enable teachers and educators to make $100,000/year without raising taxes. Or creating a company to research efficient energy creation without the need to sell a product to stay in business. The intent is NOT to eliminate industries I feel are not useful or even harmful to society, but to add positive real incentives for people to choose work to better the human race.
Thanks for looking and feedback is always appreciated!
D. Bumgarner