Thursday, May 4, 2017

Time Equity as a Core for Growth Potential

Human capital is the unrealized wealth potential of the present, and a marketplace for time value could provide excellent opportunities for human capital. Time equity is a good way to create mutual employment, well into the foreseeable future, on verifiable and quantifiable terms. A new institutional framework, which I have previously described as an equilibrium corporation, could take part in generating the workplace required, among other vital tasks. Should I live long enough to assist in these efforts, building the equilibrium corporation would be part of my "bucket list"!

Equilibrium corporations would generate reliable sets of records for time equity. While ongoing records of our activities do exist in a number of institutions, these records aren't generally intended to assist in societal coordination, as an ongoing life process. In the future, equilibrium corporations would seek to synchronize time equity records across groups, so that all concerned are better able to meet personal goals and challenges.

The product of time value can be categorized more specifically, once time value is tapped to provide equity which otherwise mostly serves monetary functions. By providing a corollary role for time as money, individual units of time can "grow" both individual and group wealth, on incremental terms.

Time equity would gradually accrue to societal gain in three ways: monetarily, socially, and materially. For each matched hour of activity, the time equity involved would contain a monetary equivalent and physical component. This wealth generation can help to create welfare systems which include (but are not limited to) preventative community maintenance, preventative personal maintenance, research and development, and participation in knowledge as experiential product.

In all of this, it helps to maintain simple notions for societal need, which are not continually confused with the expectations of progress. Indeed, economists left governments and special interests free to define societal "need" at a level so as to play havoc with low income groups, through the assumption that need was not a valid part of economics. Forced consumption of life's "necessities" on strict terms, just means excuses to leave life's economic basics untouched by the promise of innovation and free competition. Through time arbitrage, communities can establish basic need settings which don't compromise the finite nature of time arbitrage for life's necessities. This would leave citizens free to establish further discretionary income, through the tradable sector activity which is utilized to expand the core framework.

Even though the finite nature of one's time does not "grow the pie", it helps to remember that time value in this instance, would be effectively utilized as a starting point for further growth. Nevertheless, time equity would gradually build the quality of services, as a given alternative equilibrium begins to mature. Meanwhile the pie can continue to grow - as always - by encouraging citizens to take part in tradable sector activity, on both local and global terms.

Time value as equity, would make the relationship of human capital to other resource capacity, easier to understand, through incremental maintenance of skills and assets. This is especially important, since intermediaries for human capital formation, have increased input costs to a degree that now negatively impacts total factor productivity.

Those input costs also affect the amount of productive agglomeration that is presently possible. Fortunately, better management of aggregate time value, can eventually make the use of human capital a more viable marketplace component. Time equity could provide a way forward for long term growth, through addressing the relationship of input vs output for services generation.

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