Sheffield, MA (PRWEB) September 27, 2008
The looming financial crisis is creating fear and instability in economic markets, but also is causing us to look at the fragile model that seems to have failed. Is the bailout sound advice or just a ploy to line the pockets of those who got us in this mess? Is there a better alternative?
Albert Benoist has developed a model for a totally new economic system that is described in his new book, "The Vertical System". This system is based on the value of work as the unions have established over decades. Gold and silver established value for our dollar. Later, the value was watered down by issuing more certificates than the value they had to back them up. In modern times, paper issued became the measure of value. With the advent of the computer the rules changed again, and the source of value is now based on debt. Where originally value was based on productivity, this is no longer the case. Increasing taxes will only make matters worse further slowing the economy, no matter what the bailout advocates say.
The proposed financial model is based on the fact that nothing is created without work being performed. The ultimate basis of value is work. This opens avenues that have existed for a long time, but not well mined (example: the Ithaca Hour program). Our current technology is capable of providing the service needed to use the concept of work value where that value can be converted directly into a liquid asset in a bank account of choice belonging to the individual performing the service. Here the individual is in control. However we need a support system and overseer. That should be the Federal Government and in the Vertical System, this would be self-funded.
As described in his book, author Albert Benoist says, "This financial model is built on the premise that work performed has value, and that value is owned by the person or entity performing the service." The identification of the work/value is not new. Schedules of this information have been compiled by many sources such as unions, professional groups, government agencies and even individuals. There is no need to invent this as the infrastructure is capable of launching in this new direction. The financial solution outlined by Benoist has merit and could easily restore America to a debt-free status over time without taxing the population to extremes. Traditional solutions have resulted in an unstable market, cash poor United States and a population riddled with fear. It's time the Presidential candidates investigate a new approach.
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