The accounting practices employed by the Work-Standard are designed solely for the Work-Standard. They cannot be reapplied to Kapital and Schuld or any other known conception of Currency. Such accounting practices need to be readily adopted by trained accountants to record and process the transactions and movements of Arbeit and Geld across Selves, Totalities, and States as well as all economic and governmental organizations operating under the third Mode of Production, Production for Dasein. The criteria for the development and implementation of Work-Standard accounting practices should:
- Give accountants and auditors the ability to apply the Work-Standard’s Reciprocal Theory of Value (RTV) and the Work Theory of Money (WTM) in practice. They shall become instinctually cognizant of the interplay between Arbeit and Geld under the Intents of Command and Obedience.
- Record every conceivable source of Arbeit and Geld by all Domains within the Work-World. Each Domain will contain a constellation of Vocations, Professions, Enterprises and Industries that are contributing Arbeit to the Life-Energy Reserve and receiving Geld from the Council State. Any economic activities not attached to a Domain within the Work-World are to be excluded.
- Create an auditable financial trail measuring the Qualities of Arbeit and Geld for the Life-Energization Reciprocity (LER) and Life-Energization Reciprocal Electrification (LERE) Processes. There are methods of distinguishing Actual Arbeit and Actual Geld, Digital Arbeit and Digital Geld, and Military Arbeit and Military Geld.
- Accommodate the Mechanization Rate (MR) and the Work-Standard’s conception of Currency Depreciation/Appreciation, the Attrition/Inaction Rate. An accountant needs to be able to demonstrate how changes to the Value of the Sociable Currency affected the creation of Arbeit and Geld for the LER and LERE Processes.
- Facilitate adjustments to the Qualities of Arbeit and Geld vis-à-vis the State Commissariats of Wages and Prices through the “Convertibility Rate (CR).”
- Be applicable to the economic activities of the SSE (Socialist Student Economy), the VCS (Vocational Civil Service) Economy, the Reciprocal-Reserve Banking System, the Council State, the National Intranet, and all active RTAs (Real Trade Agreements) as part of the Council State’s trade policies. It is capable of documenting the inflows of Geld from transactional sales, distinguishing them from the creations of Arbeit and Geld within the LER and LERE Processes.
- Recognize the distinctions between Productive and Personal Properties-as-Power as well as distinguish the economic governance structures of SAEs (State-Administrated Enterprises), SOEs (State-Owned Enterprises), NSEs (National-Socialized Enterprises), POEs (Public-Owned Enterprises), PDEs (Public-Direct Enterprises). All Enterprises will be able to maintain and rely on their own equivalent to the Chart of Account (CoA).
- Distinguish between Geld owned by the Council State and Totality, those created by the SSE, the VCS Economy and the Reciprocal-Reserve Banking System, and those originating from State Investments (SIs) and National-Socialized Financial Instruments (NSFIs).
- Provides the Council State its own equivalent to the System of National Accounts (SNA), enables it to maintain and oversee its State Budget and allocate Actual Geld to the Totality, the SSE, the VCS Economy, the Reciprocal-Reserve Banking System, itself and its governmental organizations, the National Intranet, and any Foreigners allowed to work and study within its borders.
- Allow statisticians to assemble all known economic and financial data for economists and political scientists to evaluate how well the country is doing under the Work-Standard. If necessary, there should be ways of converting the available data from Production for Dasein to that shared paradigm between Production for Utility and Production for Profit. The reverse operation should also be considered as well.
There already exists a basic, rudimentary methodology to demonstrate how to account for the creations of Arbeit and Geld under the Work-Standard. The final Section of The Work-Standard (2nd Ed.) contained what amounted to a preliminary attempt at describing how it could be done. The various Sections of The Third Place (1st Ed.) expanded upon the existing literature and conclusions established in the preceding Treatise, addressing how to account for the microeconomic and macroeconomic levels. The rest of the accounting techniques have yet to be developed for accountants and auditors alike.
Compared to other conceptions of Currency, the Work-Standard accepts the activities of accountants and auditors as being one among countless different sources of Arbeit and Geld for the Life-Energy Reserve. The Accounting Profession is just as capable of contributing Arbeit and generating Geld. When the Accounting Profession itself knows how much Arbeit and Geld it creates, its practitioners will be able to know how much Arbeit and Geld is being created by the Totality and the State. None of the rivals to the Work-Standard, with the obvious exception of the status quo–the Post-Bretton Woods Debt Standard, has been able to properly acclimate the Accounting Profession to their conceptions of Currency.
The accountant and the auditor should both realize that their bookkeeping exists independently of how much Gold and Silver there are in existence. Gold and Silver are unaccountable when melted down and given new serial numbers. The true meanings ascribed to the true values are what matter most insofar as Gold and Silver have other, non-financial applications that are far more worthy of recording.
Having the Central Bank create Fiat Currencies instead of the privatized commercial banks, a so-called “Full-Reserve Banking System,” is in actuality an extension of the Fraction-Reserve Banking System. It remains bound to the same dynamics of Kapital and Schuld and thus more sensitive to the Interest Rate, the Inflation/Deflation Rate, and Incentives of Supply and Demand. It also matters very little if one speaks in favor of a “Debt-Free, Interest-Free Fiat Currency” or “Modern Monetary Theory (MMT).” Neither are willing to recognize the true meaning behind the true values of Currency Depreciation/Appreciation.
Cryptocurrencies have always refused to ascertain how to overcome the Fractional-Reserve Banking System, apart from trying to operate outside of it and yet still remaining within its grasp. The Blockchain may provide anonymity, but it also encourages unaccountability. Not everyone has the computing power to rely on a Blockchain and not every true value has been ascribed its true meanings by the algorithms. Physical financial ledgers still need to be kept outside of the digital realm.
Energy Currencies are limited in their ability to create wealth. Renewable energy production is not the only source of true value in the State of Total Mobilization. As they stand, there continues to be a disconnect between the term “sustainability” and that of “solvency.” The true value should also be meaningful in addition to being sustainable and solvent.
Zeit (Time) is an unreliable indicator of the economic or financial life of a nation. There are certain moments in Life itself where it is wiser to bide one’s Zeit than to squander one’s Life-Energy. There are also other moments where economic activities must be done at a faster pace. The true meaning behind true value will become lost if Zeit is allowed to account for it in the State of Total Mobilization. The Utopian Timebank and Silvio Gesell’s Freigeld are about as fleeting as Zeit itself, never aspiring to become timeless.
It is one thing to come up with a conception of Currency. It is a different matter altogether to have that Currency be reapplied by the accountant and evaluated by the auditor. The true meaning behind the true value must not be allowed to evade all possible scrutiny.
Categories: Work-Standard Accounting Practices
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