There’s only 1 thing that is valued and that is life. Nothing without it and everyone wants it. We already measure life by time hence only that should and could be used as the value of everything else. Money and other tokens are hoarded time can’t be hoarded or created. Hence to calculate value for trading of goods and services only the human time input is calculated and thereby become the price of what is traded. Your ledger of time is added to by whatever time you have spent in labour of creating or service provision. Hence no labour the ledger becomes broke. You can only afford what was produced by others if you have enough time in ledger to pay for the labour of others that went into the product. It’s only now with technology that it’s possible to calculate all these time inputs for everything. The most important part is it’s reconcilable and can be audited. Can’t be stolen can’t be created from thin air and life will become valuable again and not millions of people slaughtered
Leave it to Tamny (and Gilder to a lesser extent) to try making information theory into a "supply-side" argument for tax cuts. Private sector is critical, but to say the public sector can't invest or create knowledge embodies willfully blind ignorance.
Rich conversation. But Gilder wants to "undervalue" government spending, which may be wasteful, and he wants to "weight" private spending. But, how do we know which private spending was beneficial -- only retrospectively. In other words, GDP Gilder-style would have to be a decade out of date.
There’s only 1 thing that is valued and that is life. Nothing without it and everyone wants it. We already measure life by time hence only that should and could be used as the value of everything else. Money and other tokens are hoarded time can’t be hoarded or created. Hence to calculate value for trading of goods and services only the human time input is calculated and thereby become the price of what is traded. Your ledger of time is added to by whatever time you have spent in labour of creating or service provision. Hence no labour the ledger becomes broke. You can only afford what was produced by others if you have enough time in ledger to pay for the labour of others that went into the product. It’s only now with technology that it’s possible to calculate all these time inputs for everything. The most important part is it’s reconcilable and can be audited. Can’t be stolen can’t be created from thin air and life will become valuable again and not millions of people slaughtered
Leave it to Tamny (and Gilder to a lesser extent) to try making information theory into a "supply-side" argument for tax cuts. Private sector is critical, but to say the public sector can't invest or create knowledge embodies willfully blind ignorance.
Rich conversation. But Gilder wants to "undervalue" government spending, which may be wasteful, and he wants to "weight" private spending. But, how do we know which private spending was beneficial -- only retrospectively. In other words, GDP Gilder-style would have to be a decade out of date.