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DSA Common Currency; yeah, that's sums it up
Topic Started: 22 Nov 2013, 02:00 (2,245 Views)
Altruistic Paladins
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If we adopt a common currency, the USAP will have to be the UK to the DSA's EU. Should I get back into roleplaying, I would like to be able to RP things like stagflation, going-off the gold standard, and other such economic events without having to say anything about the DSA's currency.
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Verince
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So let's discuss the name of the Regional Currency. I am thinking of something that involves DSA but can't think of a name of said currency. Credit,Dollar,Tab etc. I don't know.
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Herrebrugh
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Verince
24 Nov 2013, 01:01
So let's discuss the name of the Regional Currency. I am thinking of something that involves DSA but can't think of a name of said currency. Credit,Dollar,Tab etc. I don't know.
I prefer the "(working) hour" suggested earlier.

Or the "fruit of labour" or something in that general direction. I want it to sound as socialist as possible ;)
Edited by Herrebrugh, 24 Nov 2013, 01:09.
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Herrebrugh
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Since Suceavija has voiced his intent to try and design banknotes for a potential future currency, I have done some work at making the back-side of a coin (one working hour, though, the currency's name can be changed, obviously).

What do you think?

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Edited by Herrebrugh, 24 Nov 2013, 02:33.
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Corujean
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Suceavija
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@ Herrebrugh:
That is a very cool looking coin! I agree with you in that I'd prefer a time-based currency since time and a person's life energy in time increments are more equitable ways of calculating the true value of one's labor; and I would argue gives more power, flexibility, and fairness to consumers and laborers alike.

If anyone is curious about this concept, here's a link to a basic explanation of Time-Based Currency.
And this basic graph and personal analysis of need/demand based upon one's life goals and personal values with regard to their own time.
https://www.iamcalm.com/2012/life-energy-vs-money-is-more-better/
Edited by Suceavija, 24 Nov 2013, 09:28.
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Herrebrugh
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And now I've made a front-side as well:

Posted Image.

By the way, I'd personally like to make the currency allow for other languages to be used. I really can't explain to my people that we're now somehow using only English on something as official as our national currency, which is why I've made the "Arbeidsuur" (translation of Working Hour). Though, the current version is in standard Dutch... I'll probably update it to match the Dutch used in my country. But this gives an idea of the kind of system I'd prefer anyway (and note that the currency can still be used in all member-states of the DSA, no matter where the coins are from).

Posted Image

Both the back and the front would be in the language of the country it's produced in, though, it would always be instantly recognisable and bear a number somewhere to make sure people don't have to know all languages of the DSA to figure out how much money they have in their pocket ;)
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Verince
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Why time-based? This sounds socialist yeah but we want a currency that doesn't sound like we need people only for when they work. We of need them for that but as well as voting for us(RP). I don't want a time based currency but if we get one, oh well.
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Suceavija
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Well, I like the time based model (not that it is perfect or is without shortcomings) because time is something that is the same for everyone. A hour of the CEO's life is the same hour of the short-order cook's life. Right now the monetary systems of capitalism put value on the outputs of labor people do only. 8 hours of the cook's life and labor are valued very, very differently than those of the CEO; yet arguably both 'worked' the same 8-hour period of time; and both can never get that time back, equally. A person's time is an absolute possession. No cabal of bankers can arbitrarily create more or recall it in order to benefit some while harming others; nor is it possible for inflation or deflation to distort prices. Time, if used as the sole increment of value and representation of one's property and wealth, is an indisputable, stable, universal basis of value.

Another example of the monetary and output-based valuation of labor is in the USA's privatized retirement economy. I have a 401k to which I contribute a portion of my paychecks - money I earned because I used my irreplaceable time to work in order to put money into it. The amount of money I am able to contribute is determined not by how much I value economic security and comfort when I am no longer able to work, but on how much the 'market' values the output of my labor to earn the money. The value of the 401k is entirely subject to stock market fluctuations. I could lose it all due to circumstances completely out of my control; yet the time I spent to generate my contributions is gone forever and cannot be used to 'get back on that horse' if luck is not on my side. Privatized retirement is an insane and dangerous concept when you stop to really think about it.

Since people put true value on different things in terms of what they are willing to sacrifice to acquire or experience them, it is rather silly to use the artificial construct of a 'market' to impose a flat price upon something. Using the time-based model allows individual consumers and producers the opportunity to express their personal values and even life goals and philosophies with respect to their consumption or production - or lack thereof. This construct obviously yields a drastically different economic model and would undoubtedly create a very different type of world than what we are accustomed to now. Again, I'm not saying it is perfect or without flaw; but I argue that it is much closer to achieving a more equitable economic construct than what we experience now.

By the way: Those are very good-looking coins, Herrebrugh ;)
Edited by Suceavija, 24 Nov 2013, 17:17.
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Gervase
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I'm also wondering how this concept will work out. Is everyone in countries that take on this new currency going to be paid at the rate of 1 hour-credit per hour worked? Will there be some kind of defined value of one "standard" hour where some jobs might be paid at a higher or lower rate? Or is this just a name we're putting on what will really be a fiat currency that acts like any other?

Also, if we're going to have a common currency, we'll need a central bank to print it and establish an interest rate, among other things. I presume this would be incorporated in the Capital of the DSA, but it's something to think about.
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