Honest and Responsible Currency

The purpose of a new currency that unites the symbols of worktime with the substance of worktime--lifehours--is to have an honest currency that cannot be stolen by others or by the worker. The lifehour is an honest currency because it quantifies the wealth that one creates in an hour of life in solving problems. In other words, one receives an honest reward for an honest day of labor. Of course, the surgeon receives more lifehours than the nurse per hour of life at work because the surgeon consistently saves more lives and times than a nurse.

Most people recognize currency theft by robbers, counterfeiters, speculators and politicians. Fewer recognize the self-theft that occurs when one lives beyond ones means or allows others to live beyond their means.

If one lives beyond one's means, one is stealing from the future or from others. As a rule, the living beyond means involves buying wants when needs are ignored. The necessities of life are shortchanged for the unnecessary things. (This is true of nations as a whole as well as individuals.) When one does not live within one's means, a day of reckoning is inevitable. People primarily and daily steal from others and their future because they live beyond their means: credit cards, massive cars and modern homes. In 2003, America had a record high mortgage default rate. One is cancer to onesself.

If one lives in a society where one can forcefully share irresponsibility through tax systems or bankruptcy courts, others time and wealth is stolen by the person who lives beyond one's mean. This is the crux of the reason why someone has a right to tell you how to live your life if you are going to put your hand in into the person's pocket on April 15 or at the checkout cashier.

Attempting to have people live within their means so as to have future well-being is not new. Social Security was an attempt to force people to save part of their income for retirement. Unfortunately, the re-election obsessed habitual politicians stole the Social Security money to buy votes. Politicians are a cancer to the polity.

Another politically sponsored program for people living beyond their means is the tax deduction for home-ownership. In a time of national, state and local tax deficits, America has been experiencing a record housing boom in ever larger houses. People who buy houses larger than they are necessary are not only living beyond their means but have a day of reckoning ticking.

In developing a new honest and responsible currency, one needs to establish means to automatically prevent people living beyond their means and politicians stealing the savings. The hierarchy of lifehour accounts fulfill this need: food, housing, medicine, retirement, bankruptcy, insurance, travel,  discretionary. Some will say that this is all confusing but the total number of accounts is far less than the myriad number with which people presently struggle. And, it will be done automatically.

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