Falcon said:
I can't visualise what the utility functions that describe the process of choosing between a healthy or terminal lifestyle look like, so I will need to duck the question.
Good call.
Falcon said:
You'd have to explain that one a bit more...
... and that theories of money as a political tool are what we have to invent now to avoid the difficult task of confronting that.
[I'm swapping between the U.S. and the U.K. here, which is wrong. Over 40 million people in the U.S. have no health insurance, which is wrong. But that, of itself, is not evidence that a system based on health insurance is wrong.]
One might ask what 'choice' those 40 million have.
To really get to grips with the way 'money' is used as a political tool of repression, as opposed to a 'neutral medium of exchange' (as we are indoctrinated into perceiving it) we need to take a step back and look at how 'money' comes into existance in the first place.
<Takes deep breath>
'Money' - as we know it - is borrowed into existence by 'Government' in the form of 'Bonds' - promisory notes - 'sold' to a central bank for their face value, secured against future tax revenues.
These 'bonds' carry a premium - or charge in addition to their face value - generally refered to as their 'yield' or 'interest'.
OK. Lets assume for the purpose of demonstration that we are on an island with a population of 10 individuals in the 'economy' and one Bank(er).
For these 10 individuals to trade goods and services they need a 'medium of exchange', which will be supplied by the Bank - 'lent' onto the 'economy' - at a premium of 10% (to keep the figures simple).
The Bank lends each of our islanders £100, expecting upon maturity of the loan a return of £110 - thats the intitial sum plus the 10% interest. So the Bank stands to make £100 on top of the £1000. With me so far?
OK. So where is that £100 going to come from? The Bank only lent £1000 'into existence'. How is the 10th individual going to find the £110 to pay back to the Bank? Because only £1000 is in 'circulation' within our island 'economy', what we can see here is the mechanism by which our islanders are
forced into unnatural
'competition' with each other in order to repay the loan.
By it's very nature, a 'competition' will have a 'loser'. In this case, the 'loser' will be the 10th individual who
cannot repay the loan as ther is only £10 left in the 'economy' to do so. 9 X £110 paid back by the 'winners' is £990.
So what options are open to our 'loser'?
Their only option is to either borrow more from the Bank, forfeit property (real wealth) or perhaps engage in some 'overseas adventure' to bring 'wealth' in from some outside 'loser' on another island.
This is the fundamental mechanism that underpins the 'debt based monetary system'. The need for 'growth' is systemic.
A political tool that by it's very nature will concentrate real wealth in the hands of those
with at the expense of those
without.
...And don't tell me there is 'No Alternative'. If a 'Government' is able to issue a promisory note to a central bank (at interest), there is
no reason that they cannot issue the equivalent in
debt free currency themselves.
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'Debt based' currency is an insidious evil that permeates every aspect of our lives.