Pitas.com!

evacuate & flush
lopati@excite.com

 

i think one of the main obstacles to system-wide reconfiguration is the notion of monetizing human capital. the system is set up so that maximizing money flows means hoarding ideas in increasingly banal and ad hoc ways, i.e. legislation works poorly on activities where production and distribution costs approach zero [1], on process externalities involving non-rival and non-excludable goods [2] and on subjective scarcity [3] where value is perceived rather than intrinsic.

i think this is a function of currency as universal translator of wealth arbitrarily abrogated to government. traditionally minting currency was the "right of kings" and it still is a defining characteristic of sovereignty. but its usefulness is and always has been proportional to it's backing, whether by the means of production or the means of protection, which extends to the confidence a populace has in its exchange, store of value, unit of account, etc.

if confidence and scarcity are the limiting factors of currency and hence wealth, what does it mean when absolute measures of wealth, e.g. how many meals, number of things, vacations "you have," gives way to relative measures of cultural production (technologically determined?) "you share?" what is the appropriate medium of exchange? how best to keep score?

after reading [plug :] bernard lietaer's the future of money [4] it seemed pretty clear to me that in an environment where the locus of production has shifted to human capital [5] from state institutions, which includes the corporate apparatus, a self-generating currency [6] would be an ideal mechanism to sit atop the current structure and service what are fundamentally social transactions that cannot be legislated, in effect unlocking nascent social capital. oh, and ultimately bring about a system-wide reconfiguration! (prefigured in human destiny of course :)