The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel, disregards the lack of scientific basis
Ignores the functional definition of money
The unit of measure in Economics is money. Centuries of contrived, convoluted, confounding explanations of valuation and CONfidence provided by Academics & Economists demand fiat money is anything other than its only function. Trade with other humans for their stuff conveniently without arranging a barter exchange. An option to purchase human labor.
This apparently to disguise global human labor futures market as monetary system to avoid paying humanity our rightful option fees. In over a decade of inquiry none has suggested otherwise. Emperor created options to purchase human labor as claim notes for measures of trade goods that could be claimed from State stores or subjects owned by Emperor. Emperor paid with the labors of subjects.
When monarchs were deposed, State assumed ownership of access to human labor, providing the appearance of freedom while retaining structural economic enslavement of humanity. Global human labor futures market has State assert ownership of access to human labor, licenses that ownership to Central Bankers who sell options to purchase human labor to their friends as State currency, collecting and keeping our rightful option fees as interest on money creation loans. WEF estimate of $300 trillion in global sovereign debt with about that total in existence demonstrates that the friends of Central Bankers only borrow money into existence to buy sovereign debt for a profit and are now having States force humanity to make the payments on all money for Wealth with our taxes in debt service, along with a bonus to finance human activity at their whim.
They certainly know all about that. It’s their job, right?
It’s not ethical, moral, or capitalist either.
I can’t imagine how Piketty & peers overlook the largest stream of income on the planet, the interest paid on global sovereign debt by humanity to Wealth for no good reason. That stream of income times average or mean frequency is as close to total transfers as accuracy allows. That is the macro state of the global monetary system. They aren’t sayin’.
Also not saying anything about the ethical correction, affected with adoption of a rule of inclusion for international banking regulation that achieves stated goals, establishes an ethical global human labor futures market, and no one has logical or moral argument against adopting:
‘All sovereign debt, money creation, shall be financed with equal quantum Shares of global fiat credit, held in trust with local deposit banks, administered by local fiduciaries and actuaries exclusively for secure sovereign investment at a fixed and sustainable rate, that may be claimed by each adult human being on the planet as part of an actual local social contract.’
Been ignoring it for well over a decade.
A fixed value Share establishes a fixed per Capita maximum potential global money supply for stability and infinite scalability. A value of €1,000,000 equivalent is conservative valuation of average individual lifetime economic production, a reasonable, sufficient capitalization of global human labor futures market. Further fixing the sovereign rate at 1,25% per annum establishes a stable, sustainable, regenerative, inclusive, abundant, and ethical global economic system with mathematical certainty.
All money will then have the precise convenience value of using 1,25% per annum options to purchase human labor instead of barter, mathematically distinct from money created at any other rate. The value of a self referential mathematical function can’t be affected by fluctuations in the cost or valuation of any other thing. We’ll know regardless what currency is in hand it was created for secure investment and someone somewhere is paying 1,25% per annum on it we each share equally.
For a significantly reduced & fixed global cost paid to humanity, we get an otherwise cost free global basic income without new infrastructure or administration, and ideal money; a fixed unit of cost for planning, stable store of value for saving, with voluntary global acceptance for maximum utility, and nothing else. Economics acquires a fixed unit of measure and may begin making scientific observations. Money loses its coercive property.
When existing global sovereign debt is repaid with new fixed value money, Wealth will have that $300 trillion to save or reinvest in something else, with over €6 quadrillion of 1,25% per annum credit readily available locally, globally, for secure investment with local fiduciary oversight. All human needs can be sustainably financed locally, globally, without any of Wealth’s accumulation. Including climate change mitigation.
Local social contracts can be written to describe any ideology, so adopting the rule has no direct affect on any existing governmental or political structures, as they can be included in local social contracts. Ideological policies can be assessed on a level economic playing field. We enable maximum cultural diversity and innovation.
Sustainable local financing of all human needs reduces demand for central services, budgets, and control. Local social contracts can be comprehensive and generous with ubiquitous access to 1,25% per annum money for secure investment. They’ll need to be to attract and retain citizen depositors and willing available labor. Communities will have backlogs of readily financed projects waiting for willing and available labor. Polling suggests people will decide to work the cleanup jobs.
The psychological effects of being structurally included as equal financiers of our global economic system can’t be quantified, but must be profound and positive. We can’t think or act rationally in captivity. Our simple acceptance of fiat money in exchange for our labors is a valuable service, providing the only value of money and unearned income for Central Bankers and their friends. Our service is compelled by State, and pragmatism, at a minimum to acquire money to pay taxes. Compelled service is the definition of slavery, violates UDHR and the Thirteenth Amendment to the US Constitution. The structural economic enslavement of humanity is not hyperbole.
Have the architects of this con game all died leaving only the deluded gatekeepers, with no one able to question, apply logic or critical thinking skills? Or still providing distraction from the foundational inequity? Still avoiding scientific investigation?