What purpose, a new form of corporate organizational capacity, beyond that of adding wealth potential to time value as a whole? This post takes a closer look at some of the duality that would exist, in the local corporate structure of knowledge use systems.
1) Macroeconomic and microeconomic considerations: There's a local to global outlook, which visibly supports worldwide tradable sector activity by defining (or "closing") the loop of local services and asset formation for non tradable sector activity - albeit on a very small scale. Why do so? This would allow knowledge use systems to encourage economic growth potential, which presently faces hard inflation caps from central bankers.
Indeed, governments are becoming equally hesitant as well, regarding sufficient monetary representation for the public. Part of today's economic stagnation is due to the fact non tradable sectors have used the wealth of international tradable sectors as an open checkbook for non tradable needs. Whereas this strategy generated considerable economic growth in the past, it is questioned when worldwide (tradable sector) growth slows. Unfortunately, the wealth of international resources cannot meet services coordination demands for all income levels, and the true extent of aggregate resource capacity (international medium of account) is not known to all participants. This makes it difficult to stake further claims for time value on general equilibrium terms.
As to microeconomic considerations, economic reciprocity is key. How so? Whereas reciprocity is taken for granted at the level of institutions in relation to one another, this is not necessarily the case, for individuals who have lost the ability to negotiate for personal needs on economic terms. Just as it is difficult to understand what one does not directly experience, it is difficult for individuals to understand how reciprocity works, when one is not expected to have negotiation power in workplace or personal settings. A marketplace for time value would allow reciprocity as a part of one's education, from the first compensation for matched time use.
2) The monetary economy and the real economy. Money is representative of personal freedom. However, for money to remain a positive symbol, it needs - at the micro level at least - to remain representative of economic time value. This connection would be emphasized first in the form of compensated wage structure, as internal time value in connection with local resource use. Income would be understood not only as separate from local wage potential, but representative of wealth potential which exists from the tradable goods of international wealth flows. The open economy component of knowledge use systems would treat income as discretionary, as related to national and international wealth.
3) The public and the private. The biggest problem for public versus private designations in the present, is the fact these arbitrary designations are increasingly painting what were major growth components of the economy, into a corner. One experimental aspect of knowledge use systems, is that public and private designations would eventually work together differently, through new definitions of producer and consumer roles. Local participants would learn how to use existing local resources, to generate assets and services structure without revenue imbalances.
4) The producer and the consumer role. Each participant is a producer and consumer within a self contained non tradable sector corporate structure. As a result it is possible to utilize direct democracy for time based services preferences, and representative democracy for other forms of consumption definition. Direct democracy is possible in that time aggregate potential is locally understood - one votes for service formation with their time choices, and services needs can experience considerable change over time.
However, representative democracy is needed for local (physical) environment patterns, because much of this is established at the outset in ways which define unique infrastructure. There is also a clear point of delineation for a consumption base in terms of asset formation (living and working structure) which is provided by wage compensation. This is important because it recognizes wage potential as a resource base for the group as a whole. Beyond this point, participants have options for asset formation which stem from discretionary income as derived from non time based sources.
5) Time flow and time stock. One of the most flexible components of this system is the way it backs individual choice for asset preferences. The internal flow of wage structure turns into stock over time, in the form of asset choices such as land and building components. Two aspects of this system make internal taxation unnecessary. First, the time based support of services formation, and the return of land shares and building components back into the pool of asset holdings, towards the end of life. As individuals let go of land and asset components they no longer need (as purchased by time based wages, not discretionary income), each of these separate down into the smallest viable denomination, as newly available options for those who are currently building asset formation.
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