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 ›
Third Place
SMP Compendium: Theories of Money (Pt. I of II)
Competing Theories of Money have proliferated in the Western world when the concept of Currency became grew increasingly important since the Renaissance. If the Theories of Value concerned how something supports the Value of any given Currency, then the Theories… Read More ›
SMP Compendium: Theories of Money (Pt. II of II)
What shall be the Work-Standard’s Theory of Money to complement RTV? The whole premise of RTV rests squarely on the LER Process, particularly the notion of committing Life-Energy into Vocations to create Actual Arbeit and contribute them to the Life-Energy… Read More ›
Currency Depreciation/Appreciation (Pt. I of II)
All Currencies will gain or lose Value over a period of Zeit (Time). Any increase in the Value is called “Appreciation” whereas any decrease in the Value is “Depreciation.” How the Value changes is dependent on the Currency being Kapital or Geld. For… Read More ›
Currency Depreciation/Appreciation (Pt. II of II)
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 ›
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 ›
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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