The SMP Compendium generally envisages a practical application of the Work-Standard as the conversion of Arbeit into Geld and Geld into Arbeit. The terms ‘Arbeit’ and ‘Geld’ are derived from the German words for “Work” and “Money” respectively. The usage of those specific words in the German language is to emphasize the specific process that the Work-Standard operates on. This is also part of the consideration as to why Arbeit and Geld are not translated to their English equivalents, ‘Labor’ and ‘Capital’ respectively, because those English terms lack the deeper contextual meaning of what the Work-Standard is ultimately implying.
To peg a Currency to the Work-Standard is to create a Sociable Currency by having its Value backed by the Synchronization of “Quality of Arbeit” and “Quality of Geld” from all economic and financial activities. The State, particularly its Financial Regime, is the only power capable of upholding the Value and ensuring it does not fluctuate in terms of Currency Depreciation/Appreciation. Every sector of the economy will contribute Arbeit to the Central Bank in varying increments. Some generate more Arbeit than others and some will yield less due to the nature of the economic sector in question and what the professions within it entail. Technologies compatible with the Work-Standard have the potential to enhance the amount of Arbeit that can be contributed under a given timeframe.
The Council State wields the Intents of Command and Obedience. The Arbeit of the national economy is registered by the Central Bank’s “Life-Energy Reserve.” A Life-Energy Reserve is the accumulated sum of all Arbeit in the Socialist Nation. The Central Bank converts the Arbeit into Geld at a conversion rate specified by the other two members of the State’s Financial Regime, the Head of State and National Legislature. The Head of State must sign into law a specified rate at which the economy’s Arbeit will be converted into Geld. This authorization is to be conducted with the express approval of the Legislature before the Central Bank can be allowed to begin or resume the conversion of Arbeit into Geld.
Once converted into Geld, the State will be able to use it for practically everything that the nation-state will need. From financing State-Owned Enterprises (SOEs) to expanding the ability of the economy to contribute even more Arbeit, the Council State remains final authority as part of a functioning “Council Democracy.” All known State Expenses, such as operating costs, upkeep and repairs, and wages, will be deducted from the Geld that is available as part of the State Budget. Whatever Geld is left after the expenses will then be allocated to the State Budget, where it can then be allocated to various areas of the Socialist Nation through the political process.
It should be noted that the amount of Geld that can be put into circulation is dependent on the overall amount of Arbeit available in the Life-Energy Reserve. The goal of this arrangement is to discourage “Attrition” and the effects of Currency Depreciation. In short, it provides the Intent of mindfulness toward work ethic and the economy’s willingness to avoid overworking itself. But at the same time, there needs to be a similar Intent of mindfulness over neglect, carelessness, recklessness, complacency, which will cause a distinct form of Currency Appreciation called “Inaction.” The Central Bank gauges the extent of Currency Depreciation/Appreciation by means of a special metric called the “Attrition/Inaction Rate.”
The Work-Standard’s distinct metrics, including its equations used to calculate the generation of Arbeit and the conversion into Geld, will be covered within their own entries in the SMP Compendium. These entries will include corresponding ones where the Liberal Capitalist equivalents are discussed in order to address their inherent differences and what the Work-Standard does differently through its own methodology.
Categories: Compendium
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