Hi @adriangee, I see free competitive enrichment as just as important a liberty as the right to elementary means for survival - a philosophy that implies the necessary existence of a basic universal income, to put it briefly. To achieve this, we need, inter alia, a currency with a stable value relative to production of those elementary means. Without that we cannot resolve this conundrum of being a capitalist and a commie at the same time. But even without achieving a fair and equitable distribution of basic means, a currency like that can at the very least serve to secure the purchasing power of pensions. And I am working on a SmartCoin with that critical property. Should you be interested, there is an introduction to that on my blog. Thanks for the perspective underscored by your post! Regards.
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Thanks for the post @clicketyclick. I don't believe in a socialist government but the income disparity is quite jarring.
Neither do I @adriangee.
Having been there, however, I know that in a theoretically free market society there is a poverty level below which all a person's energy and creativity is spent on survival and elevation beyond that becomes virtually impossible.
This is a serious flaw that breeds crime and enslavement. In a rich caveman environment everyone has equal access to resources and a fair distribution of opportunity to apply their talent to elevate their quality of life from rock bottom up. In modern urbanized society this is most certainly not the case.
Human-powered bureaucracies are doomed to fail by corruption sooner rather than later and tend to get bloated through laziness and other subtle forms of theft. So I agree, that is not the answer.
A decentralized mechanism that automatically distributes the minimum amount of power of purchase equivalent to the free means of survival available to every caveman is the answer.
This will provide a buffer from which all but the sickly can recover, earning an increase to their own quality of life by adding to that of others.
What I am working on is a decentralized currency with a value related to the cost of producing basic necessities that can be seen, on the one hand, as a first step in that direction, but that can also serve as functionally reliable means of trade in general.