As stated earlier, the Liberal Capitalist conception of Currency Depreciation/Appreciation relies on a “Inflation/Deflation Rate.” The Inflation/Deflation Rate is influenced by the Supply and Demand of Kapital in existence relative to the amount of goods and services being circulated. The… Read More ›
Compendium
Everything related to the articulation of the Work-Standard
SMP Compendium: ‘Death-by-Overwork’, the Work-Standard’s Version of Hyperinflation
Various historical events have been cited by historians and economists alike as providing definitive examples of Hyperinflation. Weimar Germany, Mugabe’s Zimbabwe, and Venezuela have been cited as contemporary examples in the past century alone. These examples are well-known cases where… Read More ›
SMP Compendium: Monetary Expansion/Contraction
Following the Reciprocal Theory of Value (RTV) and the Work Theory of Money (WTM) to their logical conclusions, several important observations can now be drawn regarding the specifications of the Life-Energization Reciprocity (LER) Process. The implications of everything related from… Read More ›
SMP Compendium: Is the Work-Standard Constitutional?
In Socialist countries like the Soviet Union, there is a constitutional basis regarding the implementation of the Work-Standard. For example, the 1936 Constitution of the Union of Soviet Socialist Republics (USSR) included an Article which can be interpreted as an… Read More ›
SMP Compendium: The Four Functions and Six Attributes of Currencies
Every Currency, including the Work-Standard’s Sociable Currency, must be capable of exhibiting four consistent Functions. Without those key defining characteristics, they are unworthy of being practical in the everyday affairs of any country. These Functions are: Those four Functions affect… Read More ›
SMP Compendium: Theories of Value (Pt. I of II)
Is the Value of a good or service determined by the value-judgments and attitudes of the beholder? Or is the Value not informed by anyone in particular and can be measured objectively? Assuming if the Value can be judged intrinsically,… Read More ›
SMP Compendium: Theories of Value (Pt. II of II)
It was established that the Theory of Value employed by the Work-Standard operates on its own paradigm. Practical applications of the Work-Standard do not rely on either the Labor Theory of Value (LTV), the Subjective and Utility Theories of Value… Read More ›
Update (27 July 2023)
The next round of Entries from the Third Edition of The Work-Standard is coming up in thirty after this Update post goes live. These Entries are from Section Two, where I spent much of my efforts trying to conceptualize the… Read More ›
SMP Compendium: How the Central Bank sets the Exchange Rates under the Work-Standard
In a currency system like the Work-Standard, it becomes inevitable to envisage Sociable Currencies pegged to it as relying on “Fixed Exchange Rates.” After the Death of Bretton Woods, Neoliberalism abandoned Fixed Exchanged Rates in favor of “Floating Exchange Rates.”… Read More ›
SMP Compendium: How the State receives Revenue and allocates the Budget
The Vocational Civil Service (VCS) Economy does not rely on the conventional taxation and budgeting policies found in Liberal Capitalism. The Council State receives the Revenue for its Budget from its own activities and from the Totality. The Arbeit and… Read More ›
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