TECHNOLOGY is not going to solve the problem. The economic model MUST be reformed!
I want to ressurect this thread to see if anyone can really understand the points I have been making.
Frequency of trade – When trade occurs, accounts storing money are changed. Most transactions obey a conservation of money principle, where if one account is charged some amount, then that same amount must be added to some other account. In the conservation of money principle, the total amount of money does not change, and nor does the total amount of liquid assets. What changes is the distribution of liquid assets among households and firms. Over time, variances in behavior entitles some accounts with surpluses and burdens other accounts with shortages.
New Balance System – The key solution to our problems with the compounding-interest credit markets is abandon them entirely as a tool for finance by replacing them with a viable deferred payment service which can be termed the New Balance System. The New Balance System is a system that forgoes the conservation of money principle. As frequency trade increases, the sum of money balances will increase, and as the frequency of trade decreases, the sum of money balances will decrease. It must be done as a two-front matter, as follows:
- The impact that spending has on the monetary balance comes slowly.
- The impact that income has on the monetary balance comes quickly.
Bi-directional money balance principle – When the overall trade frequency is constant, the only way it is possible for person to accumulate a long-term positive balance is for a long-term negative balance to exist [in some other account]. Therefore one should not try to add money to the system to get rid of the negative sign; defeating the system this way has negative legal, economic, and ethical consequences. To properly economize real-world scarcity, the balances of the accounts (positive or negative) must be recognized as a figure of merit for transaction acceptance, an idea similar but more rudimentary than credit approval. In conditions where so many buyers are requesting services that supply cannot reach demand, business may non-discrimantorily reject all customers who have a balance below a certain value advertised. This makes a higher balance meaningful and worth working to earn and maintain even though people would be allowed to spend without limit when they have negative balance.
“Are you kidding me? Computers have definitely slowed work down”
Totally disagree with you on that statement. Technology is the only tool that solves human problems. Technology has increased our factors of production to be used to help the economy.
We went from mailing letters to faxing, and e-mailing. Men on assembly lines, to machines doing the work with no break or vacation time.
the list goes on and on.
Computers have made the world work better, and faster. Kind of like how you can express your opinion with a few clicks of the mouse on your computer to comment on this site.