Theft of Human Time through Currency
"Thou shall not steal" is a common admonishment to all major lasting religions. Some theft is very obvious: robbing a person of their paywages. You are stealing more than paper with numbers. You are stealing the person's time as is noted in the quaint statement that "time is money and money is time."
A less obvious theft is when a person is overpaid relative his work or job. In a zero-sum world, an overpaid person steals from those who are underpaid. Of course, one can try to defend wage injustices with "but it's legal." This defense is suspect if you have corrupt, greedy politicians who hold office because of illegal elections. One of the worst examples of a person being overpaid relative to their problem-solving reality is the inheritance of wealth. Like public welfare, private wealthfare cheapens not only the individual recipients, e.g., ) Paris Hilton but cheapens the lives of those who have to work more for less because of the legal freeloaders.
Regardless of one's gut reaction and regardless of man's laws, the economic wheels of timistic justice may grind slowly, but they grind fully and finally. Any theft, legal or illegal, recognized or ignored, initiates a cancerous process that is self-destructive. When a society tolerates overpayment, fewer problems are solved for the underpaid, time-saving problem-solvers will stop solving problems. The underpaid either quit working or start stealing.
A society can survive theft of time in all its forms up to the point where the theft of time exceeds the creation of time. That is to say, civilization will survive as long as the problem-solvers outwork the theiving problem-causers. When this survival ratio goes negative, the society begins to run out of time. The rate of decline, or, existential meltdown(ht), depends on economic maturity. If the tenured economists advising the habitual politicians encourage the pursuit of wealth through symbols rather than substance of problem-solving, the existential meltdown will accelerate from an endemic chaos to a pandemic catastrophe. This is the state of humanity at the beginning of the Third milllenium.
The various schools of economic thought that are monikered with "supply side, trickle-down, terror-budges" have increased the concentration of wealth--old and new--into fewer and fewer hands. In 1980, the top 1% of Americans owned 20% of America. Twenty years later, that figure jumped to 40% with a 10% jump expected during the short few years of the Bush economics, in particular, ending the inheritance tax. Of somber consideration is how, historically, all society's in which 1% own more than 50% of the wealth ended of in collapse does not phase the tenured economists or habitual politicians.
The clutter clutter is the "time" that one creates or saves when one's work solves a problem. With a timistic analogy, one can see how robbing with a gun is the same as robbing with an obese paycheck. Both are t aking time from others. All moral admonitions, including the Ten Commandments, can be reduced to one statement: Thou shall not steal the time of others.
Part and parcel to theft through currency, and more pernacious, is the international monetary system. When fully understood, the analogy of stealing another's wages at problem-solving through robbery or payroll is fully applicable to currency exchanges between nations. The global monetary system fosters theft which has been exploited by the large symbol players but is now being imbedded into daily commerce by the nature of the internet. The existential meltdown(th) is going to accelerate.
Consider how one can steal a house because currency is not kept constant and current. Two identical houses are built in New York and Podunk. Both house take 2000 manhours to build but the New York house has a dollar value twice the Podunker. The New Yorker sells his house and moves to Podunki where he buys two houses. He has stolen one of the house. The Podunker who moves to NYC and buys the same house he owned in Podunk can only half of the house. However, in terms of the ultimate currency that transcends the boundaries of centuries and nations, both houses are worth 2000 lifehours. This temporal disparity between different currencies is being aided and abetted by speed of the internet as humanity is being nickled and dimed to death as seconds and minutes are stolen through the currency system.
The big boys don't worry about nickles or dimes. They get the pennies of disparity before they grow to nickles and dimes. One of the best examples of theft from currency exchanges is Long Term Capital Management LTCM was started by two Nobel Laureates in Economics who borrowed millions to buy a computer that compares millions of different current financial papers (currencies) to instantaneously initiate a three-way trade in which buying A precedes buying B which precedes buying C which is followed by buying A once again. Because of minute difference, it is possible to end up with more of A in just a few seconds of time. In fact, LTCM often will buy a million dollars worth of A and complete the whole sequence in less than a second so as to make less than a penny. Daytraders are dinosaurs compared to LTCM's nanosecond trading. Because
But whether a million dollars or a million pennies of disparity, human dispairness increases. LTCM makes millions of dollars each year without solving one real human problem. In other words, and in a closed system which is our global economy, a lot of people are drawing big paychecks at LTCM who are grossly and obesely overpaid. LTCM is robbing all the people who are underpaid. And, it's legal.
The global economic body is dying not because of a catastrophic aortic aneurism but from the bloodletting from a million mosquito bites from disparity in the symobls of human time. What LTCM is doing at super speed, everyday commerce is doing faster and faster. With increased globalizaton, the WTO, Nafta, and the Internet, the LTCM mode of drawing an undeserved, unearned bloated paycheck is becoming the norm for more and more people. Most people don't realize that their gain of wealth from international and internet business is stealing time that ultimately is stealing time from their own future. It is, as shown next, analogous to stealing the seed corn from the sharecroppers upon whose farming your plantation lifestyle has depended.
As noted elsewhere, cur rency theft can also occur not only betwee people but within a person when they live beyond their means. This is why a variety of lifehour accounts are needed to stop people from stealing from their future and putting the cost on others who are more responsible and honest about living within their means.
Exporting Jobs to cheaper countries: Double Time Theft
Because of so-called "free trade" agreements, an over-populated Third-world nation can be organized to produce goods "cheaper" than can be produced in a developed country. On the surface this seems very logical and progressive. Unfortunately, it is an example of semantic slippage and mixing apples with oranges if one considers the sequence of events.
As shown in Latin American countries, building factories in the cities cause a diaspora from the hinterlands. This proletariat economy (over-populated and poor) becomes unbalanced as
This is not "free-trade." It is economic enslavement of the proletariat nation.
The enslaving economy does not get something for nothing any more than the junkie who finds a lifelong stash of heroin--a shorter life ensues compared to a balanced, working life. Within the enslaver's borders, unemployment rises as domestic producers are replaced by foreign imports from the proletariat nations. The unemployed either live off of public assistance or, eventually, take jobs in which they are not only paid less but solve fewer problems. Timistically, there is no difference between the misery and time-waste of heroin and Walmart except that instead of millions, Walmart is ruining the lives of billions. McDonalds--Billions Served. Walmart--Billions Serfed. A few pennies for local charities and dollars trumpeting these petty publicity stunts don't reverse the decay of humanity that is Walmart mega-metastasized.
How can economists and politicians justify this imbalancing and d estruction of two economies--proletariat and enslaver? Because it provides "cheaper" goods and services. Cheaper by what standard? It is cheaper only in symbols of problem-solving and time, not in the actual substance of people spending their time solving problems. The enslaver's rising unemployment indicates a drop in the total domestic time devoted, per capita and in toto, to solving the domestic problems. The proletariats rising cost of living and foreign dependence reflects a drop in the total problem-solving time devoted to the real needs of the proletariat economy. This economic madness--mutally assured destruction--of two or more economics in the name of cheaper goods has it roots in the observation that "economists know the price of everything but the value of nothing."
Because goods and services are increasingly traded instantly over distance because of globalization and the internet, goods and services from poorer countries look cheap because they cost less in symbols of time. If, however, the trades were in the substance of time, two things would happen. Most cheap trades would not be found to be cheap and neither the proletariat nor the enslaver would suffer economic collapse.
Many analogous principles can be found for this process. The colonizer is a cancer that eventually consumes the existence of the enslaved and its, leaving economic bodies that are shells of their former selves, e.g., Argentina It is a process of inflation leading to inflationary suffering and collapses, the time per capita in both economies is cheapened as less and less time is devoted to solving the most pressing problems to meet the needs of survival. Economically, since time is money and money is time, it is a variation of Gresham's Law: Cheap money chasing out good money until money is worthless, that is, our time is rapidly running out and becoming worthless ... an existential meltdown.
Like water, symbols of time seek their own level. Cheap currencies carve a lower rut in human existence through which they course. In 2004, reflecting the unprecedented federal deficits of the Bush administration, the dollar was falling at a record pace. Another sign of the cheap dollar was the inability of the Federal Reserve System to raise the value of the dollar by raising the cost of the dollar, that is, the interest rate.Why? Bush policies were cheapening the time of all Americans. The symobls of American time--dollars--are following the course of public policy.
Some praised the cheaper dollar and low Fed interest rate. But consider this: What happens when the larder is not refilled after a hard, long winter? People starve. The same is true of the Fed's inability to raise interest rates. When the next cold recession starts--and it will, they always do--what reserves will the Fed have in its larder to fight recession and unemployment? Lower the interest rate below zero?
Among the major questions for enlighted policy-makers is whether humanity wants to have a temporary high induced by the drug of cheap money with a castrophic upheavel of all economies. The question is being answered the wrongway. In 2004, the tenured economists and habitual politicians are accelerating the amount of international trade because it is cheaper.
Should the world policy-makers wake up to the need for a tortoise rather than hare-brained approach to economic growth, the next major question is how do we go from cheap monetarism(th) which is cheapening humanity to a viable currency system that promotes balanced, stable, sustainable economic growth? The answer is a multiple answer for it addresses the more obvious forms of theft through currency that were listed at the beginning: Lifehours, Touchtone Manager and Brainbees.
It is important to note that these tools leapfrog the proponents of an internet sales tax and a flat tax. Not only do these tools have automatic taxation of all products but they ensure that a person or a group does not effect a de facto tax of overpayment because of currency disparity. Either we can peacefully introduce local lifehours to reflect the value of local hours of life, or, the economic theft will adjust the symbols to the substance with an accompanyment of social, economic and political chaos.
Capitalism and democracy are problem-solving twins. Capitalism is the best way to motivate people to solve their personal problems while democracy is the best way for a group, community or nation to solve the public problems. Democracy brings out the best in people while capitalism brings out the best in profits. The Global Democracy and Capitalism of Timism are a roadmap to world peace for timism has lifehours, touchtone manager and brainbees. They are the way to define and stop currency theft.
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