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Sunday, March 15, 2009

Money as an Information

Now that this is possible there is no longer a need for an 'existential' money; money can at last truly measure the delivery of value and be based on nothing other than the expenditure of effort by people for others. Money is information - a unit of measure - not a thing.

If money does not need to exist as a thing it does not have to be created and distributed. People will earn money solely on the basis of their delivery of value to others, not through charging interest, trading it in money markets and a multitude of other ways without delivering anything of real value.

Money that does not exist can never be in short supply, but no one can have more of it than the value they can deliver. No one will be able to take more of the social product than they contribute to it, as they do under our current money system. Wealth will remain where it is created and needed, and not leak away to the 'money centres'.

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