Larry Chang: Values-Based Planetary Economy

Data, Design, Economics/True Cost, Education
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New Planetary Economy
A new, rational, self-regulating economic system is necessary to meet present and projected global realities. The current model creates artificial scarcity by strictly controlling the issue of currency, converting it into a tradable commodity itself. Money is further hoarded and manipulated in such a way as to create debt, inequity and poverty.
The silver lining to the current economic crisis is that people will be forced, perhaps for the first time, to examine their unconscious assumptions about this entrenched system and stretch their cognitive range to allow for a different approach.

Below the fold are the executive summary in full text, and a 22 page PDF with graphics.

BASICS OF THE NEW ECONOMY
The planet can sustain all life on it, though not at the level of consumption that obtains in developed countries. Everyone and everything shall have a specific value. The sum of all unit values shall be termed Net Planetary Value. People shall affect and realize value by accessing and providing goods and services.

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MECHANISM
Each entity – individual, corporate, municipal, national, bioregional – shall maintain an index which determines its level of access to goods and services. This index fluctuates according to the entity’s activities. Actions that have a positive effect on populations, infrastructure, or the environment, improve the entity’s index. Indices include a time dimension that embeds past provenance, present utility and future impact. Entities acknowledge each transaction by digital and/or biometric means. Data is transmitted to a distributed network which continuously updates all indices using algorithms in a self-regulating feedback loop. Built-in checks and balances adjust indices to mitigate excesses, waste and abuse.

IMPLEMENTATION
Since it is not dependent or contingent upon monetary values, NPV can be implemented by any functioning economic unit. It will run parallel to the monetary system until that system strangles itself with its own contortions, or until belief in it is withdrawn, whichever comes first. Increased parity and efficiency are realized with the accession of each additional entity until universal inclusion is achieved. Each person is automatically assigned an index that gives access to basic food, housing and healthcare. Personal index is increased by life stage, education, skills and accomplishments, affording access to levels beyond basic needs.

EFFECTS
There are no monetary limits. No budgets, no debt, no banks, no inflation, no price distortions. There will be less government, less corruption, less crime. Land ownership will revert eventually to occupancy rights. With basic needs guaranteed, many will no longer work at traditional jobs. These are becoming obsolete anyway. People will choose vocations as a means to advance their indices. Every service rendered is rewarded. Each corporate entity likewise is assigned a base index that allows access to infrastructure and services. All corporate entities are by definition non-profit. Businesses compete and prosper by offering superior goods and services, thereby increasing their corporate index with concomitant access to higher levels of goods and services.

Everyone counts. Everything is counted.

Notes for a Value-based Economy (Larry Chang)

Summary of New Planetary Economy