Luxury (was: Instability in physical object money economies (was Guys, it's just socialism ))
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May 19, 2013, 1:01:50 PM5/19/13
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On Sun, May 19, 2013 at 7:10 AM, Mason, Larry K <ma...@email.unc.edu> wrote:
> In my system, financial transactions are purchases of luxuries. Hardly something that can cause an economic catastrophe. But with physical object money financial transactions are the heart and soul of most economic catastrophes.
>
> In my system, only your luxury income is at risk. With physical object money, how much you will be paid is not only unknown but if huge importance. (Just ask those folks who don't know whether they'll have a job next month or those who have lost their jobs.)
Define "luxury" as used in your system. Be exact. And how is it
decided which things are a luxury? Who decides? How are disagreements
handled? Give examples of luxuries and non-luxuries. We still have no
idea if a MacBook is a luxury or not.
> In my system, financial transactions are purchases of luxuries. Hardly something that can cause an economic catastrophe. But with physical object money financial transactions are the heart and soul of most economic catastrophes.
>
> In my system, only your luxury income is at risk. With physical object money, how much you will be paid is not only unknown but if huge importance. (Just ask those folks who don't know whether they'll have a job next month or those who have lost their jobs.)
Define "luxury" as used in your system. Be exact. And how is it
decided which things are a luxury? Who decides? How are disagreements
handled? Give examples of luxuries and non-luxuries. We still have no
idea if a MacBook is a luxury or not.
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