As some of you are probably aware, my research into the Work-Standard has made tremendous forays. Practically most of the basic information related to its basic specifications have been filled out. So much so that I can describe it here in a few short sentences and arrive at the conclusion we are dealing with an entirely new conception of finance that is more tailored to Socialism than Liberal Capitalism.
Any Currency pegged to the Work-Standard will have its Value backed by the Price of Arbeit. Everybody participates in a Vocation as part of various enterprises overseen by the State, contributing their Arbeit to the Life-Energy Reserve of the Central Bank based on their economic activities. The Central Bank converts the Arbeit into Geld, where it can then be used by the State and distributed to the whole nation.
That is basically the Work-Standard in its most fundamental definition. The more important and nuanced details, such as the equations and formulas needed in the conversions of Arbeit into Geld and vice versa, have yet to be laid out in enough detail. Ensuring they can be differentiated from the Liberal Capitalist and Marxist-Leninist methods is another pivotal avenue as of late. Both of these areas of interest have yet to be fully elaborated in order to make sure no aspect of the Work-Standard remains ambiguous.
Besides topics related to the theoretical and philosophical origins, the role of technology and how the Work-Standard functions as part of trade, fiscal and monetary policies, outlining the formulas and equations used by the Work-Standard remains a high priority. I will be working on those for this week’s set of entries in the SMP Compendium. Expect more from me soon.