ojts-cvs Mailing List for Open Java Trading System

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Update of /cvsroot/ojts/OpenJavaTradingSystem/web-site
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RCS file: /cvsroot/ojts/OpenJavaTradingSystem/web-site/Makefile,v
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*** Makefile	10 Dec 2007 16:57:40 -0000	1.5
--- Makefile	27 Oct 2012 09:56:11 -0000	1.6
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*** 7,18 ****
  sources += $(shell find doc -type f ! -path "*CVS*" | xargs)

  upload: ojts-site.tar.gz
! 	scp ojts-site.tar.gz cs...@oj...:/home/groups/o/oj/ojts/htdocs/ && \
! 	ssh cs...@oj... "cd /home/groups/o/oj/ojts/htdocs && tar -xzf ojts-site.tar.gz && rm ojts-site.tar.gz && chmod -R a+r *" && \
  	touch upload

! ojts-site.tar.gz: $(sources) money.pdf
  	rm ojts-site.tar.gz ; \
! 	tar -czvf ojts-site.tar.gz $(sources) money.pdf

  money.pdf:
--- 7,25 ----
  sources += $(shell find doc -type f ! -path "*CVS*" | xargs)

+ # https://sourceforge.net/apps/trac/sourceforge/wiki/Project%20web
+ # make ojts-site.tar.gz
+ # mkdir htdocs
+ # cd htdocs
+ # tar -xzvf ../ojts-site.tar.gz
+ # cd ..
+ # scp -r htdocs cs...@we...:/home/project-web/ojts/
  upload: ojts-site.tar.gz
! 	scp ojts-site.tar.gz cs...@we...:/home/project-web/ojts/htdocs && \
! 	ssh cs...@we... "cd /home/project-web/ojts/htdocs && tar -xzf ojts-site.tar.gz && rm ojts-site.tar.gz && chmod -R a+r *" && \
  	touch upload

! ojts-site.tar.gz: $(sources)
  	rm ojts-site.tar.gz ; \
! 	tar -czvf ojts-site.tar.gz $(sources)

  money.pdf:

Update of /cvsroot/ojts/OpenJavaTradingSystem/web-site
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	index.html 
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Updates some links.

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*** 47,51 ****

      The Open Java Trading System (OJTS) is meant to be a common infrastructure to develop stock trading systems. It consists of four parts:
!     <UL>
        <LI> the gathering of raw data over the internet
        <LI> the recognition of trading signals
--- 47,51 ----

      The Open Java Trading System (OJTS) is meant to be a common infrastructure to develop stock trading systems. It consists of four parts:
!     <UL class=small>
        <LI> the gathering of raw data over the internet
        <LI> the recognition of trading signals
***************
*** 53,57 ****
--- 53,59 ----
        <LI> modules to connect to the programmatic interfaces of trading platforms like banks.
      </UL>
+     </SPAN>

+     <SPAN class=small>
      The project's aim is to provide a self contained pure Java
      (platform independent) common infrastructure for developers of trading
***************
*** 127,147 ****
  If you have more time then I suggest you to read the following books
  aswell, in the given order:
! <UL>
    <LI> <A class=link target="_blank"
        href="http://www.amazon.com/Money-Bank-Credit-Economic-Cycles/dp/0945466390">Money, Bank Credit, and Economic Cycles</A>: There is also an <A class=link target="_blank" href="http://www.mises.org/books/desoto.pdf">online version</a> of that book.
-       
    <LI> <A class=link target="_blank" href="http://www.amazon.com/Money-Whence-Came-Where-Went/dp/0735100705">Money: Whence It Came, Where It Went</A>
-   <LI> <A class=link target="_blank" href="http://www.amazon.com/Grip-Death-Slavery-Destructive-Economics/dp/1897766408/">The Grip of Death: A Study of Modern Money, Debt Slavery, and Destructive Economics</A>
  </UL>
! I've started to write about the inner mechanics of our monetary system
! myself. You can download the <A class=link target="_blank"
! href="http://ojts.cvs.sourceforge.net/*checkout*/ojts/MoneyInEconomicSystems/LaTeX/money.pdf">latest version</A> of that
! <A class=link target="_blank" href="money.pdf">document</A> via
! web-cvs. You can view the <A class=link target="_blank" href="http://ojts.cvs.sourceforge.net/ojts/MoneyInEconomicSystems/LaTeX/money.pdf?view=log">history of the document</A> progress there, too.
! I suggest you start reading at the chapter "Money", if you are not
! interested in the background of valuation. <B>Be warned, that this is
! work in progress</B>! You are very welcome to contribute to this
! document. All of its sources are in the OJTS CVS repository and you
! can get them via anonymous CVS access.
  </P>

--- 129,139 ----
  If you have more time then I suggest you to read the following books
  aswell, in the given order:
! <UL class=small>
    <LI> <A class=link target="_blank"
        href="http://www.amazon.com/Money-Bank-Credit-Economic-Cycles/dp/0945466390">Money, Bank Credit, and Economic Cycles</A>: There is also an <A class=link target="_blank" href="http://www.mises.org/books/desoto.pdf">online version</a> of that book.
    <LI> <A class=link target="_blank" href="http://www.amazon.com/Money-Whence-Came-Where-Went/dp/0735100705">Money: Whence It Came, Where It Went</A>
  </UL>
! </SPAN>
! <SPAN class=small>
  </P>

***************
*** 264,268 ****
      <SPAN class=small>

!     <UL>
        <LI><A class=link target="_blank" href="http://hsqldb.sourceforge.net/">HSQL Database Engine</A>
  	  (license: <A class=link target="_blank" href="http://hsqldb.sourceforge.net/web/hsqlLicense.html">hsqldb_lic.txt</A>)
--- 256,260 ----
      <SPAN class=small>

!     <UL class=small>
        <LI><A class=link target="_blank" href="http://hsqldb.sourceforge.net/">HSQL Database Engine</A>
  	  (license: <A class=link target="_blank" href="http://hsqldb.sourceforge.net/web/hsqlLicense.html">hsqldb_lic.txt</A>)
***************
*** 323,333 ****
      <SPAN class=small>

!     <UL>
!       <LI><A class=link target="_blank" href="http://eclipsetrader.sourceforge.net/">Eclipse Trader</A> is an Eclipse Rich Client Platform (RCP) application focused to the building of an online stock trading system.
!       <LI><A class=link target="_blank" href="https://humaitrader.dev.java.net/">Humai Trader Platform</A> is a free, open source stock technical analysis platform built on pure java. The project was renamed to <A class=link target="_blank" href="http://blogtrader.org/">Blogtrader</A>.
!       <LI><A class=link target="_blank" href="http://jrobotrader.atspace.com/">jrobotrader</A> is a simulation platform for automated stock exchange trading.
!       <LI><A class=link target="_blank" href="http://www.activestocks.de/?q=node/210">ActiveQuant</A> open source java trading libraries and the former version ccapi2.
!       <LI><A class=link target="_blank" href="http://ta-lib.org/">TA-Lib: Technical Analysis Library</A> is now also available as a pure java library.
!       <LI><A class=link target="_blank" href="http://www.itp.phys.ethz.ch/econophysics/R/">Rmetrics</A> Software for Financial Engineering and Computational Finance (not Java!).
      </UL>
      </SPAN>
--- 315,320 ----
      <SPAN class=small>

!     <UL class=small>
!       <LI>The <A class=link target="_blank" href="http://groups.google.com/group/javatraders">JavaTraders</A> Google group may be the best entry for you to find out about other Java based trading systems and tools.
      </UL>
      </SPAN>

Update of /cvsroot/ojts/MoneyInEconomicSystems/LaTeX
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Update of /cvsroot/ojts/MoneyInEconomicSystems/LaTeX
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	money.tex 
Log Message:
Added another reference to an important book:
The Nature of Money (Ingham)

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*** 3921,3924 ****
--- 3921,3930 ----
  \www{http://www.amazon.de/Eigentum-Zins-Geld-Gunnar-Heinsohn/dp/3895185876}

+ \bibitem{nature-of-money}
+  Geoffrey Ingham,\\
+ ``The Nature of Money,''\\
+ Polity, 2004,\\
+ \www{http://www.amazon.com/Nature-Money-Geoffrey-Ingham/dp/074560997X}
+ 
  \bibitem{bundesbank}
  Joachim von Spindler, Willy Becker, Otto-Ernst Starke,\\

Update of /cvsroot/ojts/MoneyInEconomicSystems/LaTeX
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! (Ethics: Principles to follow by every individual participant in economic systems.)
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Update of /cvsroot/ojts/MoneyInEconomicSystems/LaTeX
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Modified Files:
	money.tex 
Log Message:
- described the details of the money creation
- added a section about ethical principles
- added a commented block for my ideas about improvements for democratic decision taking.

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  \subsection{Money: More detailed explanation of the mechanisms}

+ \noindent As I live in Gerany in Europe I am most interested in the
+ inner mechanics of the European Central Bank system. As far as I was
+ able to find out the Federal Reserve System in the United States works
+ a bit different and has even more defects than the European system.
+ 
+ The best references that I found for the old German Bundesbank system
+ and the new European Central Bank system were \textit{``Die Deutsche
+ Bundesbank''} (see~\cite{bundesbank}) and \textit{``Die Deutsche
+ Bundesbank, Aufgabenfelder, rechtlicher Rahmen, Geschichte''}
+ (see~\cite{bundesbank-ezb}). They explain in more detail the
+ technicalities of the inner mechanics of creating dept
+ money. \cite{bundesbank}~even extends the analysis to the business
+ banks and their activities. For an interesting review of the historic
+ events of the introduction of the new currency in Germany after World
+ War II have a look at~\cite{geschichte-deutsche-mark}.
+ 
  %account statements for participants

+ Basically in all contemporary countries that introduced (or better to
+ say: that happened to arrive at) a debt based monetary system there
+ was already a price building mechanism in place. In some countries
+ like the US or the UK the basis was the gold standard of the 19th
+ century or like in Germany after the war the basis was the previous
+ currency. I will continue to focus on the happenings in Germany as I
+ was focusing on these events the most. In other countries the
+ historical events may have been different, but the result is the same
+ or very similar. In addition the happenings in Germany after the war
+ give the opportunity to really study the bootstrapping\footnote{see
+ \www{http://en.wikipedia.org/wiki/Bootstrapping\_\%28computing\%29}.}
+ of a debt based currency ``from scratch''.
+ 
+ After the war the prices for labor, rents and products were frozen and
+ the more important currencies were anyway the food ration card\footnote{see
+ \www{http://de.wikipedia.org/wiki/Lebensmittelmarke}.} and
+ cigarettes. Important is that there were already prices in place that
+ developed via a market mechanism in previous years and that made
+ sense. The new currency, the \name{Deutsche Mark}, was then introduced
+ on a per head basis. Every individual had the right to convert a
+ certain amount of the old Reichsmark (60 Reichsmark were converted)
+ into the new DM. Businesses got a certain amount of money per
+ employee. The other savings were converted in the ratio 10:1. The
+ technicalities can be read in more
+ detail~\cite{geschichte-deutsche-mark}.  At that step a certain money
+ stock was in place that could serve for the daily transactions. The
+ monetary system at that point was a pure paper money without anything
+ of real value backing the value of that paper.
+ 
+ From the start business banks had the right to operate with a fractional
+ reserve\footnote{see
+ \www{http://en.wikipedia.org/wiki/Fractional\_reserve}.}. This means
+ that when people paid their paper bills into checking accounts then
+ the bank was allowed to use a certain fraction for borrowing to
+ businesses or private persons, because from a statistical point of
+ view it was very unlikely that all people wanted to withdraw their
+ money in paper from the bank. This unlikeliness was enforced by the
+ aggressive promotion of paper less payment methods like the bank
+ transfer where banks only move numbers from one account into the
+ other. The advantage becomes bigger the more customers a bank has,
+ because if person A and B have their checking account in the same bank
+ and person C has his checking account at a different bank then
+ payments from A to B or vice versa do not alter the reserve of central
+ bank money of the bank. Only if person A transfers money to person C
+ then the first bank has to transfer part of its central bank money to
+ the other bank. This was a strong incentive for banks to heavily
+ extend their customer basis or to merge with other banks, because then
+ the likelihood that central bank money left their vaults was
+ minimized. In addition if you have only a few big banks that share the
+ whole market then the probability for transfers from one bank to the
+ other is as big as transfers in the opposite direction and the net
+ amount of central bank money will be very stable in the few big banks
+ that share the market.
+ 
+ In more detail this means that one million people have their account
+ at bank A and pay 20 DM into their checking account. Therefore bank A
+ has now 20 million DM in paper money (central bank money). The reserve
+ requirements in the first years after the war were around
+ 20\%. Therefore the bank only had to keep 4 million DM in their vaults
+ and was allowed to borrow 16 million to businesses and private
+ persons. If a business person would like to get a credit for 10
+ million let's say then he has to back his credit with a security,
+ e.g. his property in land and machinery. He then uses the 10 millions
+ to pay wages or buy goods from other businesses and therefore
+ distributes the 10 million into the economy. People who receive this
+ money cannot distinguish it from the original central bank money and
+ even banks who then receive these 10 million from their customers when
+ they deposit their earnings in their checking accounts cannot
+ distinguish it from central bank money. What happened at that point is
+ that we have 30 million DM as savings in bank accounts of different
+ people. 20 million DM are pure paper money and 10 million are backed
+ by the securities given by the business person taking the credit. The
+ money supply can be extended by this single bank to the limit that the
+ real central bank money in their vaults equals exactly the reserve
+ requirements of its central bank, e.g. to 100 million. But even if
+ part of the money of the taken credit would be transferred to other
+ banks the outcome would be the same. Mathematically this can be
+ described with the following series:
+ \begin{alignat*}{1}
+ 20000000\cdot\sum_{n=0}^\infty(1-0.2)^n&=20000000\cdot\frac{1}{1-0.8}\\
+ &=20000000\cdot5\\
+ &=100\cdot 10^6
+ \end{alignat*}
+ In the end we would have 20 million of paper money and 80 million of
+ money backed by the securities of the people taking credits.
+ 
+ But the story does not end here. Central banks allow banks to borrow
+ from them and therefore receive additional central bank money which
+ can be used to extend the overall money stock by the process described
+ above even further. When business banks borrow from central banks they
+ also have to provide securities. The securities normally take the form
+ of a piece of paper with a number in the local currency printed on
+ them. The system at which the German Bundesbank operated in the
+ beginning is described very well in~\cite{bundesbank} and was as
+ follows. If one business delivers goods or services to another
+ business it was usual that the receiving business paid not directly in
+ money, but created a piece of paper on which the value of the goods
+ and services was printed and a time period was agreed at which the
+ receiving business would pay. This type of paper is called
+ ``Handelswechsel''\footnote{in English perhaps ``commercial bill''
+ \www{http://de.wikipedia.org/wiki/Handelswechsel}.}. This
+ Handelswechsel could be forwarded by the company which got it in a
+ similar way as money to pay its own bills. They had to add their name
+ at the back of the Handelswechsel into a register called
+ ``Indossament'' and forward it to pay their bills. If finally the time
+ was come to pay for the Handelswechsel in money and the original
+ deptor was not able to pay then the companies in the Inossament were
+ liable to pay in the order they were registered. In that way such a
+ Handelswechsel is very convenient and secure and is readily taken in
+ the same way as real money is taken for payment.
+ 
+ Such a Handelswechsel can also be sold to a bank. The bank pays a bit
+ less than what is written on the piece of paper in real money, because
+ you have the real money already now and you do not have to wait until
+ the time has come until the Handelswechsel is due. The deduction is
+ called ``Diskont'' (bill discount). The German Bundesbank allowed
+ business banks to ``sell'' good Handelswechsel to it if the remaining
+ runtime was less than three months\footnote{The short runtime ensures
+ that the evaluation of the price that is put on the Handelswechsel
+ still is in accordance with the current pricing in the economy. In the
+ text I will talk more about the difficulties of pricing and the short
+ runtime ensures at least short time accurate relations between the
+ money and the value of the securities behind that money.} and if at
+ least three creditors with good credit history were listed in the
+ Indossament. That way business banks could receive more central bank
+ money which they could use to extend the money stock via the
+ fractional reserve mechanism even more.
+ 
+ In~\cite{bundesbank} a good example is given on page 39. If a bank
+ buys a Handelswechsel with a value of 100000~DM and is ready to pay
+ 98000~DM after removing the Diskont then the bank has to credit the
+ checking account of the seller the 98500~DM. In order to do that it
+ needs to have 20\% of the 98000~DM of central bank money from the
+ fractional reserve requirement, e.g. 19600~DM. In addition the
+ business bank can sell the Handelswechsel to the Bundesbank for
+ 98500~DM and gets this amount of money in central bank money. In
+ addition to the 19600~DM it needs to satisfy the fractional reserve
+ requirement from above it has an excess of 78900~DM central bank money
+ available for further credit expansion. In total the original
+ Handelswechsel of 100000~DM can serve to extend the money volume to a
+ total of roughly 500000~DM.
+ 
+ In a similar way as goverments when they issue bonds do not really pay
+ back the bonds at the end of their runtime, but only issue a new
+ series of bonds in order to raise the money to be able to pay back the
+ earlier series of bonds, the business banks or the businesses who
+ issued the Handelswechsel in the first place do not really pay back,
+ but only issue new Handelswechsel in order to keep the system going.
+ 
+ I want to stress that I do not agree with the point of view that money
+ is created out of nothing as some authors believe. I follow the
+ arguments of Gunnar Heinsohn and Otto Steiger in ``Eigentum, Zins und
+ Geld'' (see~\cite{eigentum-zins-geld}) and see that money is backed
+ with ``Eigentum'' (English most likely property, but in English I do
+ not see how to make the distinction between ``Eigentum'' and
+ ``Besitz'', which is both translated to property). All of the
+ 500000~DM from our example above are backed by property. The original
+ 100000~DM are based on selling goods and services for the value of
+ 100000~DM and in addition they are backed by the property of the
+ companies that put their name in the Indossament. The additional
+ 400000~DM are backed by the securities of companies and private
+ persons that they have to provide when they take a credit from the
+ bank. You can see that money is not made out of nothing alone from the
+ fact that a bank does not simply add money to their own books. They
+ make the detour of giving credits to business partners that have to
+ provide securities. I strongly recommend to read their
+ book~\cite{eigentum-zins-geld}, which provides a lot of genuine
+ insights and is very well backed with historical research work!
+ 
+ In the year 2000 in Germany the amount of paper money had a volume
+ of~$244.8\cdot10^9$~DM. I was not able to find numbers for
+ M0\footnote{The original central bank money.} For M1\footnote{M0 plus
+ money in checking accounts.} I found the
+ number of~$910.2\cdot10^9$~DM for the year 1998. For 2003 Germany had
+ a total tax income of~$442.2\cdot10^9$~\euro, which corresponds
+ to~$864.9\cdot10^9$~DM. After the introduction of the Euro as currency
+ the European Central Bank (ECB) took over the responsibility for the
+ stability of the currency. Since then the fractional reserve
+ requirement is at 2\%, which gives room for an expansion of the money
+ supply by the business banks of a factor of 50. For other currency
+ areas you can find numbers for the reserve requirements on
+ WikiPedia\footnote{see
+ \www{http://en.wikipedia.org/wiki/Required\_reserve\_ratio}.}.
+ 
+ Since the ECB took over from the Bundesbank the mechanisms have
+ changed a bit, but the principles that were explained above still
+ apply. You can find more details in~\cite{bundesbank-ezb}. The most
+ visible difference is that now the monetary policy is mostly
+ determined by open market transactions of the ECB. This means that the
+ ECB takes for rent security papers from business banks for a defined
+ period of time (e.g. the 3 months as seen above).
+ 
+ The biggest problem I see with the concept of putting property via
+ security papers at the basis of the monetary system is that there is
+ no link at all between the valuation, e.g. the process of putting a
+ number in monetary units on a piece of paper, and the value of
+ money. The only way to find a price for property in monetary units is
+ via historical comparison and a life long education of humans on how
+ much a certain good should cost in monetary units. There is no way on
+ how to find a fair price for a piece of land for example. But this is
+ necessary to know in advance how much the piece of land is worth in
+ monetary units in order to put this number on a piece of paper and
+ hand it over to the banking system to allow them to create money based
+ on it. If we go back to the example above with the Handelswechsel, if
+ I receive goods which my experience would tell me that they are worth
+ 100000~DM, but I decide to put on my Handelswechsel the number
+ 200000~DM then for sure the recipient would not disagree. Then this
+ piece of paper can be used to create the double amount of money than
+ originally was possible. I have to think longer about it, but I am
+ nearly certain that if businesses and banks would work together they
+ could use this feature of our system to make ``profits'' without end
+ and expand the monetary supply in extraordinary dimensions. This would
+ cause inflation, but the person who receives the money first after it
+ was created is the winner of the game of inflation.
+ 
+ A good and visually well prepared example of the difficulty of
+ labeling assets with money prices and how to decide about how big your
+ wealth measured in monetary units is can be seen in the online article
+ about ``Balance Sheet Money'' (see~\cite{balance-sheet-money}).
+ 
+ Another severe problem of that system is that it enforces positive
+ feed-back loops. If more money is created (e.g. as described above
+ only because I put a bigger number on a piece of paper) this will lead
+ to speculative bubbles, e.g. in the housing market. The increased
+ value of real estate property can be put on a piece of paper and can
+ serve again as the basis for more money creation, more lending to buy
+ houses and to increased real estate prices. A similar positive
+ feed-back loop will be at work when the housing bubble breaks and the
+ value of the securities behind the bank credits will melt down and
+ will lead to a melt down of central bank money created based on the
+ securitized property, which in turn will lead to a strong reduction of
+ the money creation ability of business banks and therefore in the
+ demand for houses. This in turn will further accelerate the decline of
+ house prices.
+ 
+ Finally the most striking design defect is that even in theory the
+ money that is borrowed into existence can never be paid back! Let's
+ take the example from above with the Handelswechsel. Via the
+ Handelswechsel of 100000~DM roughly 500000~DM can be created. All of
+ that money is created into existence via a credit on which the banks
+ charge interest. Therefore more than 500000~DM will have to be paid
+ back to the banks, but more does do not exist! Only money can pay back
+ debts. It does not help that you produce goods and services, if
+ there is no more money in the economy that you can earn to pay back
+ your debts. Some of the people who took a bank credit will
+ \textbf{have to default}. This is the iron logic of our current
+ system. If you take a credit you are competing with all the other
+ people who have debts to gather the money for the repaiment. This is
+ like the musical chairs child game where there are less seats to sit
+ down than there are players in the game and some players have to
+ default. The best you can do is to persuade other people to take it
+ easy and to take bank credits for themselves, too. This will make it
+ easier for you to gather the money for the repayment of your debts.

  %---------------------------------------------------------------------------------------------
***************
*** 3296,3307 ****

  %---------------------------------------------------------------------------------------------
! \section{Ethics: Principles to follow by every individual participant in economic systems.}
  \label{sec-ethics-principles}

  \begin{enumerate}
  \setlength{\parsep}{0pt}\setlength{\parskip}{0pt}\setlength{\itemsep}{0pt}
  \item A market transaction should be a fair win-win situation between participants.
  \end{enumerate}

  %- couple ``foreign trade'', how to determine exchange rates
--- 3565,3853 ----

  %---------------------------------------------------------------------------------------------
! \section{Ethics: Principles to guide the design of our social,
! political and economic system.}
  \label{sec-ethics-principles}

+ \noindent I started to point out above that money is a decentralized
+ local optimization mechanism. Local optimization mechanisms can lead
+ to a sub-optimal solution, though, if the solution is traped in a
+ local optimum, whereas there exists another better global optimum. I
+ see the government of countries and global organizations as global
+ optimization mechanisms that should take care of such traps and guide
+ the community out of those traps with a plan to be implemented by
+ legislation for example.
+ 
+ If our market economics and money are local optimization mechanisms
+ and governments are global optimization mechanisms then the next
+ question is how to measure our current ``level'' and how to measure
+ progress? Currently governments measure progress via the GDP\footnote{Gross
+ Domestic Product, see
+ \www{http://en.wikipedia.org/wiki/Gross\_domestic\_product}.}, which
+ basically measures the total market value of all final goods and
+ services produced within a country in a given period of time. Several
+ people already pointed out that this measure of progress is a really
+ bad basis for evaluating our current level and getting feed-back about
+ decisions we made in the past. The optimal human behaviour in order to
+ increase the GDP would be to smoke a lot in order to get lung cancer
+ and consume a lot of expensive medicaments and finally crash your over
+ sized car in a mass accident on a hightway to injur a lot of other
+ people before you die. This would cause a lot of costs that would be
+ added to the GDP. Nevertheless basically all of us would agree that
+ this is not progress, but quite the opposite.
+ 
+ Here is a citation of Robert F. Kennedy short before he was
+ assasinated:\\
+ ``Too much and too long, we seem to have surrendered community
+ excellence and community values in the mere accumulation of material
+ things.  The Gross National Product [GNP] includes air pollution and
+ advertising for cigarettes, and ambulance to clear our highways of
+ carnage.  It counts special locks for our doors, and jails for the
+ people who break them.  GNP includes the destruction of the redwoods
+ and the death of Lake Superior.  It grows with the production of
+ napalm and missiles and nuclear warheads. And if GNP includes all
+ this, there is much that it does not comprehend.  It does not allow
+ for the health of our families, the quality of their education, or the
+ joy of their play. It is indifferent to the decency of our factories
+ and the safety of our streets alike. It does not include the beauty of
+ our poetry or the strength of our marriages, or the intelligence of
+ our public debate or the integrity of our public officials.  GNP
+ measures neither our wit nor our courage, neither our wisdom nor our
+ learning, neither our compassion nor our devotion to our country.  It
+ [GNP] measures everything, in short, except that which makes life
+ worthwhile.''
+ 
+ Business companies have recognized the short comings of measuring
+ their progress alone in financial terms and have started some time ago
+ to use a concept called balanced scorecard\footnote{see
+ \www{http://en.wikipedia.org/wiki/Balanced\_Scorecard}.}, 
+ which is a concept for measuring whether the activities of a company
+ are meeting its objectives in terms of vision and strategy. This is a
+ more wholistic view and helps organizations to act in their best
+ long-term interests. \name{Mark Anielski} has explored this idea in
+ more detail in his book \textit{``The Economics of Happiness: Building
+ Genuine Wealth''} (see~\cite{economics-of-happiness}) and alternatives
+ to the GDP already exist, e.g the Genuine Progress Indicator
+ (GPI\footnote{see
+ \www{http://en.wikipedia.org/wiki/Genuine\_Progress\_Indicator}.}) or
+ the Index of Sustainable Economic Welfare (ISEW\footnote{see
+ \www{http://en.wikipedia.org/wiki/Index\_of\_Sustainable\_Economic\_Welfare}.}).
+ 
+ The key statement from above for defining a balanced scorecard was
+ \textit{``meeting its objectives in terms of vision and
+ strategy''}. No two organizations will have the same balanced
+ scorecard as their vision and strategy will be different. In my
+ opinion at the heart of a design of our social, political and economic
+ system has to be a vision and a strategy and this vision and strategy
+ have to be founded on ethic principles that are shared by the vast
+ majority of the people in the society. In my opinion \textbf{a society
+ should be what it wants to be} and not what it accidentally happens to
+ have become. Based on principles (call them \textit{``ethical
+ principles''} if you want) a balanced scorecard can be constructed
+ that measures the progress towards the long-term interests of the
+ society. The economic, monetary, social and political system are
+ subordinate to those long term goals and are subject to be modified,
+ adapted and tuned in order to achieve progress as measured by the
+ constructed balanced scorecard.
+ 
+ What follows is my personal proposal of values that should guide the
+ construction of a balanced scorecard and the construction of an
+ improved economic, monetary, social and political system. This list is
+ not exhaustive and for sure should be augmented with principles that
+ our society discovered over the last centruies as valid principles for
+ ensuring a peaceful and rewarding life of humans like the human
+ rights and the principles on which the constitutions of our western
+ countries are based.
  \begin{enumerate}
  \setlength{\parsep}{0pt}\setlength{\parskip}{0pt}\setlength{\itemsep}{0pt}
+ \item Responsibility and respect for the future lives of all humans on
+ this planet above all.
+ \item The opportunities of humans to live their lives in meaningful,
+ rewarding and valuable ways should be maximized.
+ \item ``Live and let live'' instead of ``kill or die''. Cooperation is
+ equal at the same eye to eye height to competition as a principle to
+ achieve improvements.
+ \item Democracy should be a democracy of the interest of the majority of
+ the people and not of the manjority of the money in the country. Power
+ lies in the hands of democratic institutions and not in the hands of
+ big businesses. This is at the same time an obligation for people to
+ pay attention to their social and economic environment and the
+ decision taking around them.
+ \item The education of people should work in a direction to produce
+ responsible adults that carry their share of the responsibility for
+ the community, society and planet and who contribute in meaningful
+ ways to the progress of their social, political and economic
+ environments.
+ \item Resources should be treated with care and the products as the
+ output of the economic system should follow principles like longevity,
+ reusability, modularity, quality, recyclability, reparability.
+ \item Entrepreneurship should be extraordinarily rewarded.
  \item A market transaction should be a fair win-win situation between participants.
+ \item (Technical) advancements should serve the society as a whole in
+ the long run and not only a few individuals. Advancements should serve
+ the people and should not threaten their jobs and living basis.
  \end{enumerate}

+ %---------------------------------------------------------------------------------------------
+ \section{Gedankenexperiment: universal constructor.}
+ \label{sec-universal-constructor}
+ 
+ \noindent A long time ago I've read the book
+ ``The Physics of Immortality: Modern Cosmology, God and the
+ Resurrection of the Dead.'' by Frank J. Tipler. In that book I found
+ for the first time the concept of a universal constructor, which is a
+ machine that can build everything that we humans can build and in
+ addition is able to repair and reproduce itself. We humans are
+ universal constructors. We build houses, fabrics, space shuttles,
+ computers, medicine, ... and in addition we reproduce ourselves.
+ 
+ I do not believe that we will manage to invent an artificial
+ intelligence that deserves that name any time soon, but I am quite
+ certain that in a few centuries we might be able to do it. Based on
+ that artifical intelligence and robotic technology such univeral
+ constructors could be built.
+ 
+ Frank J. Tipler was talking about these machines in the context of
+ space travel, but for this ``Gedankenexperiment'' I am talking about
+ these machines in an economical context. Imagine that humans are able
+ to build these machines. At the very beginning they are for sure very
+ expensive and only very few very wealthy people can afford to buy
+ them. But as they do not need any repair work and in addition are able
+ to reproduce themselves soon these wealthy people will have more and
+ more of them. Then these universal constructors can be put to work in
+ order to produce the material necessities for life. In addition they
+ for sure will also be able to serve to protect their owners if
+ necessary to the extent of military force. 
+ 
+ If you look at the tendencies of concentration of property and power
+ in the hands of few corporations and individuals then the assumption
+ that a few wealthy peole will own most of the living space of the
+ planet, the farm land, the forests, the appartments in the villages,
+ towns and cities the productive factories ... in a few centuries seems
+ reasonable.
+ 
+ Currently it is not so much of a problem if property is concentrated
+ in the hands of few, because currently human labor is still required
+ to keep businesses, factories, farming, medical research, child care
+ and all the other services going and the few who own property pay the
+ rest of the population the salaries for their services. But imagine what
+ effect it will have if universal constructors one day become
+ reality. The vast majority of people will not have any property for
+ themselves (like farm land) to have the basis to take care of
+ themselves. They are dependent on having a job and a salary. But most
+ of these people can be replaced with universal constructors which
+ basically cost nothing as they repair and reproduce themselves as
+ wanted. The few who own property will not need most of the people who
+ depend on a paid job any longer. At that time even a revolution seems
+ doomed, because these universal constructors will be able to protect
+ the property rights of their owners with military force if needed.
+ 
+ In physics I was trained to look at the extreme conditions at the
+ border of the validity conditions of a given system and this
+ Gedankenexperiment is such an examination of the border of our current
+ economic, political and legislative system. This extreme example
+ proofs that technological advancements can and will lead to a group of
+ people without the basis to make their living. In my opinion a system
+ should be designed in such a way that it does not break down even
+ under extreme conditions and still will continue to function in a
+ stable way.
+ 
+ In the ethical principles from above I already pointed out that
+ advancements should serve the society as a whole. The invention of
+ universal constructors would be a really big advancement and the
+ solution to the social problem as described above should not be to
+ abolish advancements, but quite the opposite. The rules of our social,
+ economic, plitical and legal system have to be adapted in order to
+ promote such advancements, but in a way so that nobody needs to be
+ affraid of them.
+ 
+ There may be a lot of possible proposals for how to solve this issue,
+ but currently I believe that a sort of base salary for every member of
+ the society independent if he works or not would be the right way to
+ go. The money for this salary would come from the savings that the
+ (technical) advancements permit us to make.
+ 
+ I was a long time deeply against the idea of an unearned salary. In my
+ opinion every member of a community should have to contribute to
+ create added value for the community and such base salaries run
+ completely against my basic believes. Nevertheless after thinking a
+ long time about that issue I came to the conclusion that this
+ direction might be the most promising. In addition I think it has to
+ be ensured that entrepreneurship will be extraordinarily rewarded. The
+ people who are the lokomotives of our economic system have to have the
+ certainty that their effort will be well rewarded (if they succeed)
+ and people have to have a strong incentive to give up huge parts of
+ their leasure time and step in to become one of the lokomotives.
+ 
+ 
+ 
+ %---------------------------------------------------------------------------------------------
+ \section{Micro Management: A proposal for an alternative monetary system.}
+ \label{sec-micro-management}
+ 
+ %---------------------------------------------------------------------------------------------
+ \section{Macro Management: A proposal for a modification of our
+ democracy and government models.}
+ \label{sec-macro-management}
+ 
+ 
+ %% Ich finde unser derzeitiges Parteiensystem und das dazugehörige
+ %% Berufspolitikertum zu den gravierensten Fehlentwicklungen der
+ %% Demokratie. Allein der Fraktionszwang ist für mich unvorstellbar wie
+ %% man zu so etwas kommen kann?? Ich denke, es gibt Probleme und
+ %% Lösungen. Egal welcher politischen "Grundfärbung" ich angehöre sollte
+ %% ich mir zu jedem Problem eigenständig Gedanken machen und versuchen
+ %% zur Lösung beizutragen. Unsere Parteien mit ihren Ideologien und die
+ %% Berufspolitiker ohne Rückgrat und Ideen stehen einer Lösung von
+ %% Problemen mehr im Weg als daß sie helfen.
+ 
+ %% Man könnte sich nun vorstellen, daß das Grundeinkommen (zumindest ein
+ %% Teil) nicht einfach ausgezahlt wird, sondern daß es auf ein spezielles
+ %% Konto eingezahlt wird das du für das Voting verwenden kannst. Jeder
+ %% Stimmberechtigte hat am Beginn eines Jahres gleichviel "Geld" auf
+ %% diesem Konto. Nun verfährst du wie bei Pferdewetten: jeder
+ %% Stimmberechtigte tippt auf den Gewinner für die Lösung eines Problems
+ %% (wie du zu Lösungen kommst die du zur Auswahl stellst ist eine andere
+ %% Frage). Am schluß bezahlen die Leute die auf die falsche Idee gesetzt
+ %% haben die Leute die auf die richtige gesetzt haben. Am Ende des Jahres
+ %% wird dein Kontostand an dich ausgezahlt.
+ 
+ %% Du kannst bei jedem Tipp so viel Geld setzen wie du willst, aber ich
+ %% würde als Zusatzregel einführen, daß Geld nur Ausbezahlt wird wenn es
+ %% einmal im "Spiel" war. Man könnte auch sagen Geld muß alle 2 Monate im
+ %% Spiel gewesen sein, ansonsten verlierst du den Anspruch darauf
+ %% komplett.
+ 
+ %% Dieses Vorgehen sollte mehrere Schwächen unseres derzeitigen Systems
+ %% lösen können:
+ %% - Du brauchst keine Parteien und keine Politiker mehr die
+ %%   Entscheidungen treffen.
+ %% - Du animierst Leute an Entscheidungen mitzuwirken und sich vorher
+ %%   gründlich über die Entscheidung zu informieren.
+ %% - Radikale Ideen sind "gefährlich" für jeden der seine Stimme abgibt,
+ %%   weil du mit großer Wahrscheinlichkeit deinen Einsatz verlierst. Das
+ %%   ist ähnlich wie mit Pferdewetten auf außenseiter.
+ %% - Ich würde es nicht verbieten, daß Leute versuchen Stimmen zu
+ %%   kaufen. Es muß nur sicher gestellt werden, daß niemand prüfen kann ob
+ %%   und in welcher Weise die einzelnen Stimmberechtigten ihre Stimme
+ %%   abgegeben haben. Solange das sicher ist kann ein Käufer von Stimmen
+ %%   nie sicher sein, daß er tatsächlich etwas bekommt für sein
+ %%   Geld. Lobbyisten sollten mit diesem System kaum Möglichkeiten für
+ %%   Manipulationen haben.
+ %% - ...
+ 
+ %% Um so länger ich darüber nachdenke um so mehr positive Effekte könnte
+ %% ich mir unter so einem System vorstellen. Auf alle Fälle erreichst du
+ %% was du wolltest: die Entscheidungen werden von der gut informierten
+ %% Basis getroffen! Es könnte sogar sein, daß sich eine neue Schicht von
+ %% Berufspolitikern etablieren, die von diesen "Wetten" leben können.
+ 
+ %% Wie kommt es nun zur Ideenfindung? Ich würde sagen ein erster Ansatz
+ %% könnte sein, daß jede Idee die mindestens 100000 Unterschrieften
+ %% gesammelt hat zur Abstimmung zugelassen wird. Andere Verfahren wären
+ %% bestimmt auch möglich.
+ 
+ 
+ %---------------------------------------------------------------------------------------------
+ 

  %- couple ``foreign trade'', how to determine exchange rates
***************
*** 3381,3384 ****
--- 3927,3936 ----
  \www{http://www.amazon.de/Die-Deutsche-Bundesbank-Joachim-Spindler/dp/B0000BO3CS}

+ \bibitem{bundesbank-ezb}
+ ``Die Deutsche Bundesbank, Aufgabenfelder, rechtlicher Rahmen, Geschichte,''\\
+ Deutsche Bundesbank, 2006,\\
+ \www{http://www.bundesbank.de/download/presse/publikationen/buchbundesbank.pdf}\\
+ \www{http://www.amazon.de/Die-Deutsche-Bundesbank-Aufgabenfelder-rechtlicher/dp/386558151X}
+ 
  \bibitem{money-bcredit-ecycle}
  Jesús Huerta de Soto,\\
***************
*** 3393,3396 ****
--- 3945,3954 ----
  \www{http://www.amazon.de/Marktwirtschaft-ohne-Kapitalismus-Roland-Wirth/dp/3258066833}

+ \bibitem{post-corporate-world}
+ David C. Korten,\\
+ ``The Post-corporate World: Life After Capitalism,''\\
+ Mcgraw-Hill, 2000,\\
+ \www{http://www.amazon.de/Post-corporate-World-Life-After-Capitalism/dp/1887208038}
+ 
  \subsection*{Additional References}
  \addcontentsline{toc}{subsection}{\protect\numberline{R.2}Additional References}
***************
*** 3444,3447 ****
--- 4002,4017 ----
  \www{http://www.amazon.com/Wealth-Nations-Modern-Library-Classics/dp/0679783369}

+ \bibitem{wisdom-of-crowds}
+ James Surowiecki,\\
+ ``The Wisdom of Crowds,''\\
+ Abacus, 2005,\\
+ \www{http://www.amazon.de/Wisdom-Crowds-Abacus-James-Surowiecki/dp/0349117071}
+ 
+ \bibitem{geschichte-deutsche-mark}
+ Helmut Kahnt, Martin Pontzen, Michael H. Schöne,\\
+ ``Die Geschichte der Deutschen Mark. In Ost und West,''\\
+ Gietl, 2003,\\
+ \www{http://www.amazon.de/Die-Geschichte-Deutschen-Mark-West/dp/3924861684}
+ 
  \end{thebibliography}

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***************
*** 60,63 ****
--- 60,69 ----
  \usepackage{amssymb}

+ %\usepackage[notoday,nofancy]{rcsinfo}
+ 
+ \def\RCS$#1: #2 ${\expandafter\def\csname RCS#1\endcsname{#2}}
+ \RCS$Revision$
+ \RCS$Date$
+ 
  \pagestyle{plain}
  \setlength{\mathindent}{2em}
***************
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  \title{Money\\
! \Large What is the nature of money
  }

--- 139,144 ----

  \title{Money\\
! \Large What is the nature of money\\
! \small Revision \RCSRevision, \RCSDate
  }

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***************
*** 136,140 ****
  I've started to write about the inner mechanics of our monetary system
  myself. You can download the <A class=link target="_blank"
! href="http://ojts.cvs.sourceforge.net/*checkout*/ojts/MoneyInEconomicSystems/LaTeX/money.pdf">latest version</A> of that document via
  web-cvs. You can view the <A class=link target="_blank" href="http://ojts.cvs.sourceforge.net/ojts/MoneyInEconomicSystems/LaTeX/money.pdf?view=log">history of the document</A> progress there, too.
  I suggest you start reading at the chapter "Money", if you are not
--- 136,141 ----
  I've started to write about the inner mechanics of our monetary system
  myself. You can download the <A class=link target="_blank"
! href="http://ojts.cvs.sourceforge.net/*checkout*/ojts/MoneyInEconomicSystems/LaTeX/money.pdf">latest version</A> of that
! <A class=link target="_blank" href="money.pdf">document</A> via
  web-cvs. You can view the <A class=link target="_blank" href="http://ojts.cvs.sourceforge.net/ojts/MoneyInEconomicSystems/LaTeX/money.pdf?view=log">history of the document</A> progress there, too.
  I suggest you start reading at the chapter "Money", if you are not
***************
*** 369,373 ****
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    <DIV class=smallwhite align=left>
! <!-- hhmts start -->Last modified: Sat Oct  6 14:23:15 CEST 2007 <!-- hhmts end -->
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*** 12,17 ****
  	touch upload

! ojts-site.tar.gz: $(sources)
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! 
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***************
*** 3420,3423 ****
--- 3420,3428 ----
  \www{http://www.amazon.com/Small-Beautiful-25th-Anniversary-Commentaries/dp/0881791695}

+ \bibitem{balance-sheet-money}
+ Marvin Chester,\\
+ ``Balance Sheet Money,''\\
+ \www{http://www.physics.ucla.edu/\~{}chester/economations/3Pane.html}
+ 
  \bibitem{money-whence-it-came}
  John Kenneth Galbraith,\\

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--- money.tex	10 Dec 2007 12:08:21 -0000	1.15
***************
*** 3285,3288 ****
--- 3285,3290 ----
  markets.

+ % problem of saving in a currency that is determined via a price index.
+ 

  %---------------------------------------------------------------------------------------------
***************
*** 3342,3344 ****
--- 3344,3437 ----
  %   build a pyramid or a church

+ 
+ %http://web.image.ufl.edu/help/latex/intext.shtml
+ %http://www-h.eng.cam.ac.uk/help/tpl/textprocessing/teTeX/latex/latex2e-html/ltx-3.html
+ \begin{thebibliography}{12}
+ 
+ \addcontentsline{toc}{section}{References}
+ 
+ \subsection*{Core References sorted according to Importance}
+ \addcontentsline{toc}{subsection}{\protect\numberline{R.1}Core References}
+ \label{sec-bib-core}
+ 
+ 
+ \bibitem{soddy}
+ Frederick Soddy,\\
+ ``Wealth, Virtual Wealth and Debt,''\\
+ Noontide Pr, 1987, \www{http://abob.libs.uga.edu/bobk/wvwd/},\\
+ \www{http://www.amazon.com/Wealth-Virtual-Debt-Frederick-Soddy/dp/0317532189}
+ 
+ \bibitem{eigentum-zins-geld}
+ Gunnar Heinsohn, Otto Steiger,\\
+ ``Eigentum, Zins und Geld,''\\
+ Metropolis, 2006,\\
+ \www{http://www.amazon.de/Eigentum-Zins-Geld-Gunnar-Heinsohn/dp/3895185876}
+ 
+ \bibitem{bundesbank}
+ Joachim von Spindler, Willy Becker, Otto-Ernst Starke,\\
+ ``Die Deutsche Bundesbank,''\\
+ Kohlhammer, 1960,\\
+ \www{http://www.amazon.de/Die-Deutsche-Bundesbank-Joachim-Spindler/dp/B0000BO3CS}
+ 
+ \bibitem{money-bcredit-ecycle}
+ Jesús Huerta de Soto,\\
+ ``Money, Bank Credit, and Economic Cycles,''\\
+ Ludwig von Mises Institute, 2006, \www{http://www.mises.org/books/desoto.pdf},\\
+ \www{http://www.amazon.com/Money-Bank-Credit-Economic-Cycles/dp/0945466390}
+ 
+ \bibitem{mwirtschaft-ohne-kapitalismus}
+ Roland Wirth,\\
+ ``Marktwirtschaft ohne Kapitalismus,''\\
+ Haupt, 2005,\\
+ \www{http://www.amazon.de/Marktwirtschaft-ohne-Kapitalismus-Roland-Wirth/dp/3258066833}
+ 
+ \subsection*{Additional References}
+ \addcontentsline{toc}{subsection}{\protect\numberline{R.2}Additional References}
+ \label{sec-bib-additonal}
+ 
+ \bibitem{international-economics}
+ Paul R. Krugman, Maurice Obstfeld,\\
+ ``International Economics: Theory And Policy,''\\
+ Addison Wesley, 2005,\\
+ \www{http://www.amazon.com/International-Economics-Theory-Policy-7th/dp/0321293835}
+ 
+ \bibitem{grip-of-death}
+ Michael Rowbotham,\\
+ ``The Grip of Death: A Study of Modern Money, Debt Slavery, and Destructive Economics,''\\
+ Jon Carpenter, 1998,\\
+ \www{http://www.amazon.de/Grip-Death-Slavery-Destructive-Economics/dp/1897766408}
+ 
+ \bibitem{economics-of-happiness}
+ Mark Anielski,\\
+ ``The Economics of Happiness: Building Genuine Wealth,''\\
+ New Society Publishers, 2007,\\
+ \www{http://www.amazon.com/Economics-Happiness-Building-Genuine-Wealth/dp/0865715963}
+ 
+ \bibitem{short-circuit}
+ Richard J. Douthwaite,\\
+ ``Short Circuit: Strengthening Local Economics for Security in an Unstable World,''\\
+ Green Books, 1998, \www{http://www.feasta.org/documents/shortcircuit/contents.html},\\
+ \www{http://www.amazon.com/Short-Circuit-Strengthening-Economics-Security/dp/1870098641}
+ 
+ \bibitem{small-is-beautiful}
+ E. F. Schumacher,\\
+ ``Small Is Beautiful: Economics As If People Mattered: 25 Years Later,''\\
+ Hartley and Marks Publishers, 2000,\\
+ \www{http://www.amazon.com/Small-Beautiful-25th-Anniversary-Commentaries/dp/0881791695}
+ 
+ \bibitem{money-whence-it-came}
+ John Kenneth Galbraith,\\
+ ``Money: Whence It Came, Where It Went,''\\
+ Houghton Mifflin, 2001,\\
+ \www{http://www.amazon.com/Money-Whence-Came-Where-Went/dp/0735100705}
+ 
+ \bibitem{wealth-of-nations}
+ Adam Smith,\\
+ ``The Wealth of Nations,''\\
+ Modern Library, 2000,\\
+ \www{http://www.amazon.com/Wealth-Nations-Modern-Library-Classics/dp/0679783369}
+ 
+ \end{thebibliography}
+ 
+ 
  \end{document}

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Added a chapter about saving.

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--- money.tex	3 Nov 2007 17:38:10 -0000	1.14
***************
*** 2467,2470 ****
--- 2467,2471 ----
  \label{sec-money}

+ %---------------------------------------------------------------------------------------------
  \subsection{Money: What is its purpose and how does it enter into the system.}
  \label{sec-money-purpose-enter}
***************
*** 3007,3010 ****
--- 3008,3012 ----

+ %---------------------------------------------------------------------------------------------
  \subsection{Money: Our system.}

***************
*** 3096,3099 ****
--- 3098,3102 ----
  people who then will demand them.

+ %---------------------------------------------------------------------------------------------
  \subsection{Money: More detailed explanation of the mechanisms}

***************
*** 3101,3104 ****
--- 3104,3108 ----

+ %---------------------------------------------------------------------------------------------
  \subsection{Money: Our system and how well it fulfills the requirements}

***************
*** 3190,3194 ****
--- 3194,3290 ----
  \end{enumerate}

+ %---------------------------------------------------------------------------------------------
+ \section{Saving}
+ \label{sec-saving}
+ 
+ \noindent The term ``saving'' is so common in our day to day language
+ that we do not think about it any longer. We save for a new car, for
+ the education of our children, for a house, for our pension or simply
+ for a holiday trip. We normally mean by ``saving'' that we save some
+ money in our bank accounts. We do not spend all our money now in order
+ to have it some time later at our disposal. But what happens in real
+ terms if we save some electronic numbers in our bank accounts? Does it
+ have some real noticable physical effect on the world around us?
+ 
+ If we would be a self-supporting farmer then the word ``saving'' would
+ be much more intuitively understandable for us. We would harvest the
+ fruits of our work during the summer and save it for the winter in our
+ barn. But this type of saving is substantially different from the type
+ of saving that we are able to do with money. First of all only because
+ we save some part of our harvest in our barn does not mean that we
+ increase the amount of our savings as it happens if we put money on a
+ bank account and receive some interest payments on it. Quite the
+ opposite is true. Some part of our savings in the barn will rot. We
+ have to be careful with our savings and defend them against vermin or
+ mice. We could not simply work for 40 years and save some part of our
+ havest every year in order to live for another 20 years after we
+ retire from our active worklife.
+ 
+ Saving in terms of money is qualitatively something completely
+ different than saving in terms of real goods like food for
+ example. Therefore to ask the question what effect on the real
+ physical world does it have if we save money in our bank accounts is
+ justified. What does it mean that a person has 50000\euro{} on his
+ bank account?
+ 
+ Perhaps some other points of view will help us to shed some more light
+ on the effects of saving. If we would be a self-supporting farmer, how
+ would we prepare ourselves for the time after our active work life?
+ Most likely we would have children and feed these children with our
+ ``savings''\footnote{We would not consume all our harvest ourselves
+ but use it to feed our children from it, too.} and hope that in our
+ old age they would use some of their ``savings'' to feed us. In their
+ young age our children would live from our work and in our old age we
+ would live from the work of our children. This type of saving would be
+ a sort of right that we earn during the childhood of our children and
+ claim in our old age.
+ 
+ Another construction that we could try to implement in order to
+ achieve similar effects that we have from saving money in our bank
+ accounts would be to start a productive company. If we would be able
+ to make an institution out of that company that has a ``CEO'' (an
+ employee of the company as every other employee), so that we do not
+ need to work ourselves in that company any longer in our old age, but
+ continue to receive a stream of earnings\footnote{Earnings in the
+ sense of physical crops for example.} of the company then this
+ construction would resemble a lot the effect of putting money on a
+ bank account and earn some interest payments from it.
+ 
+ What we did in both cases was to let some of our property be used and
+ consumed by other people. Via this operation those other people become
+ indebted to us and pay back the principal plus the ``interest'' on their
+ debt.
+ 
+ As we discussed above all money in our current economic system is
+ created by debt. Therefore what we do when we save money in our bank
+ accounts is to keep some of the debt at hand to be repaid later when
+ it better suits our needs. It would be disastrous for our ability to
+ save if all debtors would want to repay their debt at the same
+ time. We would lose our ability to save money for later use. But
+ luckily as described above it is not possible to repay all outstanding
+ debts\footnote{Not even theoretically.} and a person going into debt
+ does not only promise to invest his work time to pay back his debts,
+ but he promises in addition to find other people willing to take debts
+ or to increase their current debt level. Therefore we are not in
+ danger of losing this possibility of saving money.
+ 
+ In principle if the population would continue to rise in the same way
+ as our debt levels in different countries the system could even be
+ considered ``stable''. The younger generations would first run into
+ debt in their young years and later repay their existing debts and
+ even build up some savings for their old age that the next generation
+ would carry. In principle our debt money has the growth of the
+ population as a built in assumption. Who could guess 100 years ago
+ that some wealthy nations would reach a stable or even declining level
+ of their population? This most likely never happened before in
+ history. But luckily we still have the BRIC countries that still have
+ an increasing population and are not yet saturated by bank credits. By
+ buying debts in those countries (buying their currencies or more
+ obvious forms of debts) the old industrialised countries will still be
+ able to live from the work of the younger generations in the emerging
+ markets.
+ 

+ %---------------------------------------------------------------------------------------------
  \section{Ethics: Principles to follow by every individual participant in economic systems.}
  \label{sec-ethics-principles}

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Log Message:
If you are not interested in the details of valuation and would only
like to learn more about monetary systems in general and our current
monetary system in particular then I suggest you to jump directly to
the section about "Money".

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***************
*** 166,170 ****
  that arise.

! Another issue that should be attack quickly is the reform of the
  ``science'' of national economics. I am shocked by the style of hand
  waving qualitative arguments that economists use to ``prove'' their
--- 166,170 ----
  that arise.

! Another issue that should be attacked quickly is the reform of the
  ``science'' of national economics. I am shocked by the style of hand
  waving qualitative arguments that economists use to ``prove'' their
***************
*** 183,186 ****
--- 183,191 ----
  scratch.

+ If you are not interested in the details of valuation and would only
+ like to learn more about monetary systems in general and our current
+ monetary system in particular then I suggest you to jump directly to
+ section~\ref{sec-money} ``Money''.
+ 
  \end{abstract}

***************
*** 2460,2463 ****
--- 2465,2469 ----
  %---------------------------------------------------------------------------------------------
  \section{Money}
+ \label{sec-money}

  \subsection{Money: What is its purpose and how does it enter into the system.}
***************
*** 2538,2542 ****
  Debt''\footnote{\www{http://www.amazon.com/Wealth-Virtual-Debt-Frederick-Soddy/dp/0317532189}}.
  There exists an online
! version\footnote{http://abob.libs.uga.edu/bobk/wvwd/}. This book was
  published originally in 1929, but still describes the actual facts
  very well. Even if I do not agree with all of his conclusions his work
--- 2544,2548 ----
  Debt''\footnote{\www{http://www.amazon.com/Wealth-Virtual-Debt-Frederick-Soddy/dp/0317532189}}.
  There exists an online
! version\footnote{\www{http://abob.libs.uga.edu/bobk/wvwd/}}. This book was
  published originally in 1929, but still describes the actual facts
  very well. Even if I do not agree with all of his conclusions his work

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***************
*** 17,24 ****
    %\usepackage[pdftex,colorlinks=true,urlcolor=blue,linkcolor=blue]{hyperref}
    \usepackage[pdftex,
!     pdftitle={Design},
      pdfauthor={Christian Schuhegger},
      pdfsubject={Money},
!     pdfkeywords={},
      pdfcreator={LaTeX with hyperref package},
      breaklinks=true,
--- 17,24 ----
    %\usepackage[pdftex,colorlinks=true,urlcolor=blue,linkcolor=blue]{hyperref}
    \usepackage[pdftex,
!     pdftitle={What is the nature of money},
      pdfauthor={Christian Schuhegger},
      pdfsubject={Money},
!     pdfkeywords={Money,Value,Debt, Ethics},
      pdfcreator={LaTeX with hyperref package},
      breaklinks=true,

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Added comments about:
- bi-metal standard
- "bi-metal" standard between gold and debt
- debt based money expressed in units of energy

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--- money.tex	18 Oct 2007 17:25:04 -0000	1.11
***************
*** 106,109 ****
--- 106,110 ----
  \newcommand{\K}{\,\mathrm{K}}
  \newcommand{\mK}{\,\mathrm{mK}}
+ \newcommand{\kWh}{\,\mathrm{kWh}}

  \newcommand{\diag}{\,\mathrm{diag}}
***************
*** 2846,2867 ****
  units in order to keep it valid. Without this stamp the 100 units
  would not be valid money any longer. Therefore you would pay 12 units
! of money as fees per 100 unit of money you own per year. This idea
! sounds constructed, but if you look at the early egyptian monetary
! systems you will see that such systems can develop naturally. In Egypt
! the farmers brought their wheat to government owned depots for
! storage and they received receipts that entitled them to withdraw the
! amount at a later time. When they came later to withdraw the amount
! then the depot charged a certain fee for the safeguarding of the
! wheat. In principle this is the same mechanism as in the
! Freigeld. Egyptians then used the receipts as money for their daily
! business and only after several transactions with this money
! eventually somebody would go to the depot and withdraw the wheat. The
! fee in the Freigeld may exert several positive effects, because people
! will be willing to keep their money in circulation at higher
! frequencies in order to avoid paying the fee. Besides that our current
! tax system basically chooses arbitrarily on what to charge which
! taxes. Then why not charge taxes on the possession of money? It would
! be easy to implement, it would be somehow ``just'' (the people with
! more money pay more taxes), the central authority (government or
  central bank) has one more screw to fine tune the money in circulation
  (central banks can relatively easily extend the money supply, but they
--- 2847,2875 ----
  units in order to keep it valid. Without this stamp the 100 units
  would not be valid money any longer. Therefore you would pay 12 units
! of money as fees per 100 unit of money you own per year\footnote{It is
! important to note that the 12 units you have to pay do not disappear!
! They just change ownership from the private person to the central bank
! or government; this is similar to the effects of a tax. It is often
! argued that this is basically the same as inflation, because the
! private person looses monetary value. I disagree, because the
! difference is that you will know where your fee will go to instead of
! the effects of inflation where your monetary value just disappears in
! an intransparent fog.}. This idea sounds constructed, but if you look
! at the early egyptian monetary systems you will see that such systems
! can develop naturally. In Egypt the farmers brought their wheat to
! government owned depots for storage and they received receipts that
! entitled them to withdraw the amount at a later time. When they came
! later to withdraw the amount then the depot charged a certain fee for
! the safeguarding of the wheat. In principle this is the same mechanism
! as in the Freigeld. Egyptians then used the receipts as money for
! their daily business and only after several transactions with this
! money eventually somebody would go to the depot and withdraw the
! wheat. The fee in the Freigeld may exert several positive effects,
! because people will be willing to keep their money in circulation at
! higher frequencies in order to avoid paying the fee. Besides that our
! current tax system basically chooses arbitrarily on what to charge
! which taxes. Then why not charge taxes on the possession of money? It
! would be easy to implement, it would be somehow ``just'' (the people
! with more money pay more taxes), the central authority (government or
  central bank) has one more screw to fine tune the money in circulation
  (central banks can relatively easily extend the money supply, but they
***************
*** 2869,2885 ****
  increasing the fee per time unit that you have to pay for money) and
  money that leaves your country will naturally flow back to it and
! foreign owners of your currency will participate to pay your
! taxes. There are many more positive effects that such a system may
! exert and I recommend you to read more about these ideas.

! % mechanism to force people to reinvest their savings
! % the physical quantity on the other side of money does not disappear

  \lineseparator
  \vskip 1ex

! % Bi-Metal standards
! % ``Bi-Metal'' Commodity/Debt
! % Debt Money

  \vskip 2ex
--- 2877,2970 ----
  increasing the fee per time unit that you have to pay for money) and
  money that leaves your country will naturally flow back to it and
! foreign owners of your currency will participate to pay your taxes. As
! a further consequence the mechanism that forces people to reinvest
! their savings in the current production process will be even stronger,
! because by investing and charging interest (the interest here may
! still be negative, but perhaps a bit less negative than the fee you
! have to pay per time unit) the savers are able to preserve the value
! of their savings.  There are many more positive effects that such a
! system may exert and I recommend you to read more about these ideas.

! \lineseparator
! \vskip 1ex
! 
! In several periods of history several commodities served in paralle as
! money at the same time (e.g. silver and gold). This monetary system is
! called a bi-metal currency. In those systems normally there was a
! fixed conversion rate between silver and gold, which regularly lead to
! problems whenever new silver or gold mines were discovered and the ``real
! relative value'' of the base commodities was changed but the 
! rate at which to exchange the coins made out of the two different base
! commodities had to stay fixed.
! 
! This shortcoming could be circumvented by producing coins of a mix
! (alloy) of silver and gold for example. The relation in which to mix
! the two commodities in order to make a coin for your currency stays
! fixed. In such a situation the two base commodities would still have
! an indepenent free floating price expressed in coins made of the alloy
! and the relative price of the two base commodities could change
! freely.

  \lineseparator
  \vskip 1ex

! In the above example of the bi-metal currency we looked at two very
! concrete commodities as the basis of our currency, but we could also imagine
! a ``bi-metal'' standard constructed from a concrete commodity plus a
! more abstract item with value like debt.
! 
! For example when there was still the gold standard but with only
! fractional reserve requirements this was in fact a ``bi-metal''
! standard\footnote{Though I did not see any other author to recognize
! this fact before.}  with the ingredients gold and ``debt expressed in
! gold''. In Switzerland until recently 60\% of the swiss franc was
! covered by a gold reserve and the other 40\% were created by debt
! money. You could also notice that this was a ``bi-metal'' standard,
! because the rate at which to exchange money units into gold units had
! to be adapted throughout the last few hundred years at several
! times. The point was that the debt part of the bi-metal standard
! expressed in real gold lost value and therefore the monetary unit that
! was a mix between the two had to lose value (expressed in gold),
! too. Over the last 100 years the debt part ``squeezed out'' the gold
! part completely and what remains at the present time is a pure debt
! based currency.
! 
! Another possibility of such a ``bi-metal'' standard would be wheat
! plus ``debt expressed in wheat''. The problem with a debt expressed in
! gold is that you have to either find a gold mine to pay back your debt
! or you have to take the gold away from somebody else who will most
! likely resist your plan. Neither work nor physical goods are able to
! pay back your debt, only money can do that. It does not help you at
! all that you would be willing to work in order to repay your debt
! unless you find somebody who is willing to pay you in money for your
! work. If you have a debt expressed in wheat you will be always able to
! pay back your debt by converting your worktime into wheat, e.g. by
! working as a farmer on the field. You can keep your promise (debt) to
! convert your ability to work into the material that is the commodity
! basis for money (wheat)\footnote{You could imagine that the government
! could set-up ``debt fields'' where families of debtors can live and
! work to pay back their debts. This would also reduce the risk of not
! being able to convert their promise (debt) into the real commodity
! (wheat). A rest of a risk will always remain, e.g. if the debtor dies,
! but this could be covered by a higher interest rate.}. This is in
! general possible if you choose as one half of your ``bi-metal''
! currency a renewable primary commodity like wheat. Especially as we
! have many heavily indebted farms this approach would help farms to
! stay solvent. In addition farms would not be dependent on a price loss
! of their products on the world markets.
! 
! 
! \lineseparator
! \vskip 1ex
! 
! Another quite abstract but measurable quantity to base your monetary
! system upon would be a debt expressed in energy (e.g. in~$\kWh$). This
! could work in such a way that the energy producers (the owners of
! power plants) could issue debt notes expressed in~$\kWh$ and pay with
! these notes for services they require. The households would finally
! receive these notes as wages and could pay with those notes their
! energy bills.
! 
! \lineseparator

  \vskip 2ex

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Extended the abstract to ask for an improvement in the science of 
  national economics
Added material about Frederick Soddy and "Wealth, Virtual Wealth and Debt".
Added thoughts about debt slavery.
Improved some parts of English.

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***************
*** 165,168 ****
--- 165,185 ----
  that arise.

+ Another issue that should be attack quickly is the reform of the
+ ``science'' of national economics. I am shocked by the style of hand
+ waving qualitative arguments that economists use to ``prove'' their
+ point. I believe economics on the scale of nations is a very complex
+ system with a lot of cross depencencies, feed-back loops and other
+ complicating matters. In my opinion the only way to make a sound and
+ solid science out of this discipline is to introduce the experiment as
+ the only mechanism to discover ``truth''. This will be expensive, but
+ though are physics experiments, too! As long as national economy is a
+ club of debating philosophers the quote of \name{John Kenneth
+ Galbraith} that ``In any great organization it is far, far safer to be
+ wrong with the majority than to be right alone.'' will hold true and
+ the masses who are wrong will be rewarded and the one who is right
+ will be punished. As soon as the experiment is the decisive measure of
+ ``truth'' courage will be rewarded and active thinking will start from
+ scratch.
+ 
  \end{abstract}

***************
*** 2452,2456 ****

  The basic purpose of money is to serve as a book keeping
! device. Whenever we trade one thing against the other we are
  expressing the value of the thing in terms of monetary units. The
  seller has in mind a minimum value of the thing he sells and the buyer
--- 2469,2479 ----

  The basic purpose of money is to serve as a book keeping
! device\footnote{Another very important function of money is to serve
! as a decentralized local optimization mechanism (see
! \www{http://en.wikipedia.org/wiki/Optimization\_\%28mathematics\%29}
! in contrast to global optimization
! \www{http://en.wikipedia.org/wiki/Global\_optimization}) and I will 
! examine that aspect of money in more detail in a later
! chapter.}. Whenever we trade one thing against the other we are
  expressing the value of the thing in terms of monetary units. The
  seller has in mind a minimum value of the thing he sells and the buyer
***************
*** 2458,2468 ****
  transaction is taking place if the sellers minimum is below the buyers
  maximum. The price at which the transaction will take place is
! somewhere in between these two values. 

  At that point it is interesting to point out that this transaction is
  a win-win situation. Both, the seller and the buyer, have an advantage
! of the transaction. Remember the example from above where
! self-supporter was to buy a pair of shoes. It would have cost him much
! more time to produce the pair of shoes himself that to pay for the
  pair of shoes in some amount of wheat (money). Let's remember that
  point as one of the core ethic principles in economic systems (see
--- 2481,2491 ----
  transaction is taking place if the sellers minimum is below the buyers
  maximum. The price at which the transaction will take place is
! somewhere in between these two values.

  At that point it is interesting to point out that this transaction is
  a win-win situation. Both, the seller and the buyer, have an advantage
! of the transaction. Remember the example from above where a
! self-supporter was buying a pair of shoes. It would have cost him much
! more time to produce the pair of shoes himself than to pay for the
  pair of shoes in some amount of wheat (money). Let's remember that
  point as one of the core ethic principles in economic systems (see
***************
*** 2485,2492 ****
  money you use.

! Let's consider a few examples of money. Let's assume that our money is
! kilograms of wheat. In that case you can apply our model for valuation
! to express the value of any other good in kilogramms of wheat. Wheat
! has a few disadvantages, though:
  \begin{itemize}
  \setlength{\parsep}{0pt}\setlength{\parskip}{0pt}\setlength{\itemsep}{0pt}
--- 2508,2614 ----
  money you use.

! In fact the need to have a book keeping device to compare the value of
! the contribution of one person to the wealth of the community arose
! from the move of society to a system of division of labour. As long as
! there were self-supporters they produced final finished goods (like a
! cow) and they could exchange their final finished goods in barter
! transactions. But as soon as you have a system of division of labour
! you need to have a book keeping device that will tell you how much a
! secretary in the office contributed to the final product of your
! company. The distribution of labour in our current society goes even
! further where individual companies do not provide final products any
! longer but some companies only contribute via services they offer,
! e.g. an engineering company that only creates \name{CAD} designs of
! cars, but does not produce cars by itself. We need a book keeping
! device that tells us how much the efforts of one person or a
! contributing company add to the overall final finished product that is
! sold to the end customers.
! 
! \name{Frederick
! Soddy}\footnote{\www{http://en.wikipedia.org/wiki/Soddy}} examined
! this aspect of money in more detail. He calls money a ``token'' of the
! indeptedness of the community to individuals. Individuals contribute
! to the produce of a community and get in exchange some units of money
! as a sign that the community owes to the individual a debt. The
! individual uses these tokens to participate in the consumption of the
! produce of the community. If you have little time and you can only
! afford to read a single book about the subject of money I strongly
! recommend that you read his book ``Wealth, Virtual Wealth and
! Debt''\footnote{\www{http://www.amazon.com/Wealth-Virtual-Debt-Frederick-Soddy/dp/0317532189}}.
! There exists an online
! version\footnote{http://abob.libs.uga.edu/bobk/wvwd/}. This book was
! published originally in 1929, but still describes the actual facts
! very well. Even if I do not agree with all of his conclusions his work
! is enjoyably thought provoking and will lead you to ask the right
! questions.
! 
! In some sense the realization that money is a debt that the community
! owes to an individual leads naturally to the concept of debt money
! that we use today and which I will explain in more detail below. In
! communities that do not use money at all or only make limited use of
! it (imagine a bigger clan of families that are all near relatives to
! each other) every individual has to contribute to the community. There
! are some psycholigical and educational mechanisms in place that will
! ``force'' individuals to conform and to feel committed to contribute
! to the community. On the other hand every individual also participates
! in the consumption of the community and there are mechanisms in place
! (e.g. the master chief of the clan will decide who will get how much
! of what) on how to distribute the produce of the community to
! individuals. In our ``modern'' society, which is far too big for such
! small scale mechanisms, the debt money fulfills that role. People who
! consume before they have produced run into debts and the debts produce
! the pressure on individuals (and companies alike) to contribute to the
! community by producing/contributing something valuable that other
! members of the community will find so useful to spend their money
! on. On the other hand people who contribute before they consume
! (e.g. a worker in a factory who receives at the end of the month his
! salary) are creditors to the community. They use their credit to
! express their choice of which products they value the most. The credit
! units (money) serve to distribute the produce of the community to its
! individuals.
! 
! Some authors argue that the current financial system resembles some
! sort of slavery and to some extent I agree. The wealthy people place
! funds into banks and banks give loans to people in need of
! money\footnote{What I say here is only true to a very limited extent,
! because loans to people are created ``out of nothing'', e.g. you do
! not need wealthy people to give money to banks in the first place to
! make the system work. I will explain it in more detail below, but just
! explain here the point of view of ``debt slavery''.}. The
! banking system serves as some sort of layer of indirection between the
! masters and the slaves. Instead of having personal slaves the
! wealthy people use the banking system to hide behind and to maskerade
! the fact that the debtors are slaves. The debtors themselves do not
! feel as ``slaves'', because there is no direct master that would tell
! them exactly what to do. They have to work to earn the money for
! repaying the debt and feel free in their choice of their working place
! and how they spend their money. In fact this is one of the most
! smoothly running systems of slavery in the whole history of mankind
! and it reminds me somehow to the
! \name{Ferengi}\footnote{\www{http://en.wikipedia.org/wiki/Ferengi}}
! ``Rules of
! Acquisition''\footnote{\www{http://en.wikipedia.org/wiki/Rules\_of\_Acquisition}
! ``111. Treat people in your debt like family. Exploit them.''}. But
! joke aside, I don't think that this point of view is fully
! justified\footnote{It is justified to some extent, because there are
! people who can live from the interest payments of their capital
! without contributing to the community. For some families this is even
! possible over generations.}. In any sort of community the members of
! the community are on the one side in debt to the community and at the
! same time creditors to the community. There are always mechanisms in
! place that ``force'' the members of the community more or less gently
! to contribute. In our huge scale communities called nations the debt
! mechanism serves to force members more or less gently to contribute in
! a way that other people value. That is a good thing.
! 
! \vskip 2ex
! 
! \noindent Let's consider a few examples of money: 
! 
! \vskip 2ex
! 
! If we assume that our money is kilograms of wheat then you can apply
! our model for valuation to express the value of any other good in
! kilogramms of wheat. Wheat has a few disadvantages, though:
  \begin{itemize}
  \setlength{\parsep}{0pt}\setlength{\parskip}{0pt}\setlength{\itemsep}{0pt}
***************
*** 2530,2534 ****
  \item It is durable. You do not need to put any effort in maintaining
  gold when it is stored.
! \item It can be quantized any arbitrary amounts.
  \item It is seldom and restricted.
  \item At its current value a pocket full of gold is already enough to
--- 2652,2656 ----
  \item It is durable. You do not need to put any effort in maintaining
  gold when it is stored.
! \item It can be quantised in arbitrary amounts.
  \item It is seldom and restricted.
  \item At its current value a pocket full of gold is already enough to
***************
*** 2548,2552 ****
  that the central authority can demand that the taxes are to be paid in
  this ``legal tender'' and therefore people who have to pay taxes will
! demand it. The disadvantage here would be:
  \begin{itemize}
  \setlength{\parsep}{0pt}\setlength{\parskip}{0pt}\setlength{\itemsep}{0pt}
--- 2670,2674 ----
  that the central authority can demand that the taxes are to be paid in
  this ``legal tender'' and therefore people who have to pay taxes will
! demand it. The disadvantages here would be:
  \begin{itemize}
  \setlength{\parsep}{0pt}\setlength{\parskip}{0pt}\setlength{\itemsep}{0pt}
***************
*** 2590,2593 ****
--- 2712,2754 ----
  tender. But I would consider such actions more appropriate for a
  totalitarian regime than for a democracy with free people.
+ 
+ This model of money is the model that \name{Frederick Soddy}
+ proposes. He proposes to set-up a government agency that measures a
+ price index\footnote{He does not define in more detail how that price
+ index should look like, e.g. which goods and services should be
+ included.} and that the government should then either extend or reduce
+ the amount of money in the economy in order to keep the index
+ constant.
+ 
+ I see several problems in that approach:
+ \begin{itemize}
+ \setlength{\parsep}{0pt}\setlength{\parskip}{0pt}\setlength{\itemsep}{0pt}
+ \item The first problem will be what to put into the price index? Patterns
+ of consumption vary a lot from family to family and even if you keep
+ the price index constant then nevertheless some people will be hit
+ harshly by reorderings of the price index.
+ \item In addition, if you would put scarce and limited resources like oil
+ into your basket then it is certain that its price will rise in the
+ future and the producers of the other goods in the basked need to be
+ ``forced'' to lower their prices to keep the basket price constant.
+ \item If money should be created then it would be spent by the government. I
+ am certain that the government is not the best place where money
+ should enter the economy.
+ \item If some people would decide to ``save'' money and keep it under their
+ pillow this would have the effect of reducing the money in the economy
+ and the government would have to create money to keep the price index
+ constant. But once the savers decide to spend their money the
+ government would have to reduce the amount of money by taxation and
+ most likely the tax would hit the people with money (e.g. the savers)
+ the most. That would mean punishing indivudually responsible people
+ for taking care of themselves and for preparing themselves for bad
+ times in the future (e.g. when they become old).
+ \item But the most severe shortcoming of that approach I simply find the
+ lack of something on ``the other side'' if you choose this kind of
+ money as I already explained above. The goods in the economy already
+ belong to somebody. You cannot force them to give up their ownership
+ of their goods in exchange for your money. There is no value on the
+ other side of that kind of money.
+ \end{itemize}
  \lineseparator
  \vskip 1ex
***************
*** 2608,2612 ****
  any physical value. You could design the system in such a way that
  people express the value in terms of their working hours in order to
! give the people a way on make the link between valuation and money.
  \item There is no mechanism to force the debtors to pay their debts
  back. Even worse a debtor would need to find a creditor that would
--- 2769,2773 ----
  any physical value. You could design the system in such a way that
  people express the value in terms of their working hours in order to
! give the people a way to make the link between valuation and money.
  \item There is no mechanism to force the debtors to pay their debts
  back. Even worse a debtor would need to find a creditor that would
***************
*** 2614,2618 ****
  going out of balance absolutely.
  \item If a member of the economic system would die his account would
! have to be continued by somebody else. Nodoby would want to take over
  the account of a debtor. Therefore most likely over time the overall
  system would move to several accounts in plus without a corresponding
--- 2775,2779 ----
  going out of balance absolutely.
  \item If a member of the economic system would die his account would
! have to be continued by somebody else. Nobody would want to take over
  the account of a debtor. Therefore most likely over time the overall
  system would move to several accounts in plus without a corresponding
***************
*** 2650,2657 ****
  receipt that entitles you to something with real value. There is
  something on the other side of the money account with real value. By
! the way, if you would consider in such a system only the
! paper money as ``real'' money then there is a mechanism to create
! money by depositing in the depot and a way to destroy money by handing
! back the paper money to the depot to receive the base commodity.
  \lineseparator
  \vskip 1ex
--- 2811,2830 ----
  receipt that entitles you to something with real value. There is
  something on the other side of the money account with real value. By
! the way, if you would consider in such a system only the paper money
! as ``real'' money then there is a mechanism to create money by
! depositing in the depot and a way to destroy money by handing back the
! paper money to the depot to receive the base commodity. This is a
! mechanism to create and destroy money by the \textit{pure will} of a
! human. I emphasize this, because several authors critizise the ability
! of banks to create money by the pure will of a human. In fact I do not
! see a problem here as long as on ``the other side'' of the money is
! something of real value like a commodity or like in our debt based
! system the more abstract ability of the debtor to work and earn
! money\footnote{The problem of putting on ``the other side'' the
! ability to work and earn money is that you cannot ensure the
! fulfillment of that promise, whereas if you put an existing commodity
! on ``the other side'' then there is never a problem to exchange the
! piece of paper against the value on ``the other side''.}.
! 
  \lineseparator
  \vskip 1ex
***************
*** 2664,2671 ****
  \vskip 1ex

! Another very interesting idea that was developed by Silvio Gesell (see
! \www{http://en.wikipedia.org/wiki/Silvio\_Gesell}) is the ``Freigeld''
! and/or ``Freiwirtschaft'' (see
! \www{http://en.wikipedia.org/wiki/Freigeld}), where you have to pay a
  fee on the possession of money. You get a bill of 100 units and every
  month you need to buy at a central authority a certain stamp with the
--- 2837,2844 ----
  \vskip 1ex

! Another very interesting idea that was developed by \name{Silvio Gesell}\footnote{see
! \www{http://en.wikipedia.org/wiki/Silvio\_Gesell}} is the \name{Freigeld}
! and/or \name{Freiwirtschaft}\footnote{see
! \www{http://en.wikipedia.org/wiki/Freigeld}}, where you have to pay a
  fee on the possession of money. You get a bill of 100 units and every
  month you need to buy at a central authority a certain stamp with the
***************
*** 2686,2690 ****
  fee in the Freigeld may exert several positive effects, because people
  will be willing to keep their money in circulation at higher
! frequences in order to avoid paying the fee. Besides that our current
  tax system basically chooses arbitrarily on what to charge which
  taxes. Then why not charge taxes on the possession of money? It would
--- 2859,2863 ----
  fee in the Freigeld may exert several positive effects, because people
  will be willing to keep their money in circulation at higher
! frequencies in order to avoid paying the fee. Besides that our current
  tax system basically chooses arbitrarily on what to charge which
  taxes. Then why not charge taxes on the possession of money? It would
***************
*** 2700,2709 ****
  exert and I recommend you to read more about these ideas.

  \lineseparator
  \vskip 1ex

! Let's collect the good properties that we would like our money to
  fulfill:
  \begin{itemize}
  \setlength{\parsep}{0pt}\setlength{\parskip}{0pt}\setlength{\itemsep}{0pt}
--- 2873,2890 ----
  exert and I recommend you to read more about these ideas.

+ % mechanism to force people to reinvest their savings
+ % the physical quantity on the other side of money does not disappear
+ 
  \lineseparator
  \vskip 1ex

+ % Bi-Metal standards
+ % ``Bi-Metal'' Commodity/Debt
+ % Debt Money

! \vskip 2ex
! \noindent Let's collect the good properties that we would like our money to
  fulfill:
+ \vskip 2ex
  \begin{itemize}
  \setlength{\parsep}{0pt}\setlength{\parskip}{0pt}\setlength{\itemsep}{0pt}

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--- index.html	6 Oct 2007 12:36:22 -0000	1.13
***************
*** 63,66 ****
--- 63,147 ----
      </SPAN>
      </P>
+     <P>
+     <SPAN class=small>
+     Because of my job and family I do not find the time to improve
+     OJTS any longer. I am continuing to update the <A class=link
+     href="#extlinks">links section</A> below that will guide you to
+     more active java open source projects in that area, though.
+     </SPAN>
+     </P>
+     <P>
+     <SPAN class=small>
+     In fact as a consequence of my interest in the dynamics of stock
+     markets I began a journey into the deeper details of national
+     economics in order to understand currency exchange rates. This
+     topic finally lead me to a deeper study of money in itself as the
+     metric unit that we use in economics to measure "value", "success"
+     or "utility". This topic turned out to be extremely interesting
+     but at the same time it was very hard to find any information
+     about how our monetary system works. Go around and ask people
+     where money comes from, who creates it and what determines its
+     value. You will notice that even the people who have a masters
+     degree or Phd. in economics will not know these details. Oh, yes,
+     they will answer in some cryptic technical terms, but they will
+     not be able to draw a simple diagram that outlines the process.
+     </SPAN>
+     </P>
+     <P>
+     <SPAN class=small>    
+     H. G. Wells is reported to have said:<BR>
+    "To write of currency is generally recognised as an objectionable,
+     indeed almost an indecent, practice. Editors will implore the
+     writer almost tearfully not to write about money, not because it
+     is an uninteresting subject, but because it has always been a
+     profoundly disturbing one."<BR>
+     I suggest to any person living in a democratic society to
+     read about this topic. It affects our lives every day to an extent
+     that cannot be exagerated! In my opinion every citizen of a
+     democratic country on that world should know where our money is
+     coming from. Most likely you came to this web-site in order to
+     look for tools that help you in increasing your monetary
+     wealth. To understand the metric unit "money" (no matter if Dollar
+     or Euro) will be an important ingredient in your toolkit for
+     making money.
+     </P>
+     <P>
+     <SPAN class=small>
+     If you have little time and only can afford to read one single book about
+     that subject then I suggest you read <A class=link
+     href="http://www.amazon.com/Wealth-Virtual-Debt-Frederick-Soddy/dp/0317532189"
+     target="_blank">Wealth, Virtual Wealth and Debt</A> by <A
+     class=link href="http://en.wikipedia.org/wiki/Soddy"
+     target="_blank">Frederick Soddy</A>. I was able to buy a used copy
+     via Amazon for $23.48, but there exists also an <A
+ href="http://abob.libs.uga.edu/bobk/wvwd/" class=link
+ target="_blank">online version</A>. You will need the <A
+ href="http://en.wikipedia.org/wiki/DjVu" class=link target="_blank">DjVu plugin</A> to
+ read it. This book was published originally in 1929, but still
+ describes the actual facts very well. Even if I do not agree with all
+ conclusions of Frederick Soddy his work is enjoyably thought provoking
+ and will lead you to ask the right questions.
+ </P>
+ <P>
+ <SPAN class=small>
+ If you have more time then I suggest you to read the following books
+ aswell, in the given order:
+ <UL>
+   <LI> <A class=link target="_blank"
+       href="http://www.amazon.com/Money-Bank-Credit-Economic-Cycles/dp/0945466390">Money, Bank Credit, and Economic Cycles</A>: There is also an <A class=link target="_blank" href="http://www.mises.org/books/desoto.pdf">online version</a> of that book.
+       
+   <LI> <A class=link target="_blank" href="http://www.amazon.com/Money-Whence-Came-Where-Went/dp/0735100705">Money: Whence It Came, Where It Went</A>
+   <LI> <A class=link target="_blank" href="http://www.amazon.com/Grip-Death-Slavery-Destructive-Economics/dp/1897766408/">The Grip of Death: A Study of Modern Money, Debt Slavery, and Destructive Economics</A>
+ </UL>
+ I've started to write about the inner mechanics of our monetary system
+ myself. You can download the <A class=link target="_blank"
+ href="http://ojts.cvs.sourceforge.net/*checkout*/ojts/MoneyInEconomicSystems/LaTeX/money.pdf">latest version</A> of that document via
+ web-cvs. You can view the <A class=link target="_blank" href="http://ojts.cvs.sourceforge.net/ojts/MoneyInEconomicSystems/LaTeX/money.pdf?view=log">history of the document</A> progress there, too.
+ I suggest you start reading at the chapter "Money", if you are not
+ interested in the background of valuation. <B>Be warned, that this is
+ work in progress</B>! You are very welcome to contribute to this
+ document. All of its sources are in the OJTS CVS repository and you
+ can get them via anonymous CVS access.
+ </P>

      <P>
***************
*** 70,73 ****
--- 151,163 ----

        <TR>
+ 	<TD valign=top class=small nowrap>2007-10-06</TD>
+ 	<TD class=small>
+ 	  Announced the suspension of active development and added
+ 	  references to information about our monetary systems
+ 	  (Dollar/Euro).
+ 	</TD>
+       </TR>
+       
+       <TR>
  	<TD valign=top class=small nowrap>2006-02-01</TD>
  	<TD class=small>
***************
*** 233,240 ****

      <UL>
!       <LI><A class=link target="_blank" href="https://humaitrader.dev.java.net/">Humai Trader Platform</A> is a free, open source stock technical analysis platform built on pure java.
        <LI><A class=link target="_blank" href="http://jrobotrader.atspace.com/">jrobotrader</A> is a simulation platform for automated stock exchange trading.
!       <LI><A class=link target="_blank" href="http://www.sflweb.org/index.php?blog=sfljtse">SFL</A>  Java Trading System Enviroment.
        <LI><A class=link target="_blank" href="http://ta-lib.org/">TA-Lib: Technical Analysis Library</A> is now also available as a pure java library.
      </UL>
      </SPAN>
--- 323,332 ----

      <UL>
!       <LI><A class=link target="_blank" href="http://eclipsetrader.sourceforge.net/">Eclipse Trader</A> is an Eclipse Rich Client Platform (RCP) application focused to the building of an online stock trading system.
!       <LI><A class=link target="_blank" href="https://humaitrader.dev.java.net/">Humai Trader Platform</A> is a free, open source stock technical analysis platform built on pure java. The project was renamed to <A class=link target="_blank" href="http://blogtrader.org/">Blogtrader</A>.
        <LI><A class=link target="_blank" href="http://jrobotrader.atspace.com/">jrobotrader</A> is a simulation platform for automated stock exchange trading.
!       <LI><A class=link target="_blank" href="http://www.activestocks.de/?q=node/210">ActiveQuant</A> open source java trading libraries and the former version ccapi2.
        <LI><A class=link target="_blank" href="http://ta-lib.org/">TA-Lib: Technical Analysis Library</A> is now also available as a pure java library.
+       <LI><A class=link target="_blank" href="http://www.itp.phys.ethz.ch/econophysics/R/">Rmetrics</A> Software for Financial Engineering and Computational Finance (not Java!).
      </UL>
      </SPAN>
***************
*** 277,281 ****
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    <DIV class=smallwhite align=left>
! <!-- hhmts start -->Last modified: Wed Feb  1 19:09:09 CET 2006 <!-- hhmts end -->
    </DIV>
    </TD>
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    <TD vAlign=center align=middle bgColor=#000000 colSpan=2 height=27>
    <DIV class=smallwhite align=left>
! <!-- hhmts start -->Last modified: Sat Oct  6 14:23:15 CEST 2007 <!-- hhmts end -->
    </DIV>
    </TD>

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***************
*** 111,126 ****
  \newcommand{\chemical}[1]{{\mathrm{#1}}}
  \newcommand{\name}[1]{\textsc{#1}}
- \newcommand{\ElJa}{\name{Ellis-Jaffe}}
- \newcommand{\Ellis}{\name{Ellis}}
- \newcommand{\Jaffe}{\name{Jaffe}}
- \newcommand{\Bjorken}{\name{Bjorken}}
- \newcommand{\Primakoff}{\name{Primakoff}}
- \newcommand{\Compton}{\name{Compton}}
- \newcommand{\Coulomb}{\name{Coulomb}}
- \newcommand{\Cabibbo}{\name{Cabibbo}}
- %\newcommand{\Cherenkov}{\name{Cherenkov}}
- \newcommand{\Cherenkov}{\name{\v Cerenkov}}
- \newcommand{\Larmor}{\name{Larmor}}
- \newcommand{\Raether}{\name{Raether}}
  \newcommand{\Java}{\name{Java}}
  \newcommand{\Scheme}{\name{Scheme}}
--- 111,114 ----
***************
*** 128,156 ****
  \newcommand{\PR}{\texttt{PR}}

- \newcommand{\EndUser}{\name{EndUser}}
- \newcommand{\TelCo}{\name{TelecommunicationCompany}}
- \newcommand{\Hub}{\name{Hub}}
- \newcommand{\MuDi}{\name{MusicDistributor}}
- \newcommand{\InAIn}{\name{InfrastructureAndIntelligence}}
- 
- \newcommand{\ACID}{\texttt{ACID}}
- 
- \newcommand{\ListenToMusic}{\name{ListenToMusic}}
- \newcommand{\SelectPlayList}{\name{SelectPlayList}}
- \newcommand{\BuySong}{\name{BuySong}}
- \newcommand{\TrainAndLearn}{\name{TrainAndLearn}}
- \newcommand{\TrainAndLearnOnline}{\name{TrainAndLearnOnline}}
- \newcommand{\TrainAndLearnOffline}{\name{TrainAndLearnOffline}}
- \newcommand{\SwitchAddOnServices}{\name{SwitchAddOnServices}}
- \newcommand{\PlayListBufferHandling}{\name{PlayListBufferHandling}}
- \newcommand{\DecomposeMusic}{\name{DecomposeMusic}}
- \newcommand{\AdministrationAndCustomization}{\name{AdministrationAndCustomization}}
- \newcommand{\MaintainCentralPersonalMusicStorage}{\name{MaintainCentralPersonalMusicStorage}}
- \newcommand{\TransferSongNotInPersonalMusicStorage}{\name{TransferSongNotInPersonalMusicStorage}}
- \newcommand{\TransferSongInPersonalMusicStorage}{\name{TransferSongInPersonalMusicStorage}}
  \newcommand{\ket}[1]{\left|\,#1\,\right>}
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  \newcommand{\avg}[1]{\left<\,#1\,\right>}%average

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--- 116,125 ----
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  \newcommand{\bra}[1]{\left<\,#1\,\right|}
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  \newcommand{\avg}[1]{\left<\,#1\,\right>}%average
+ %\newcommand{\lineseparator}{\centerline{\vbox to 0pt{\kern -\baselineskip\hrule width 5cm}}}
+ \newcommand{\lineseparator}{\centerline{\vbox to 0pt{\kern -8pt\hrule width 5cm}}}

  %BEGIN LATEX
***************
*** 207,211 ****

  %---------------------------------------------------------------------------------------------
! \section{The core model}

  %---------------------------------------------------------------------------------------------
--- 176,180 ----

  %---------------------------------------------------------------------------------------------
! \section{Valuation: The core model}

  %---------------------------------------------------------------------------------------------
***************
*** 467,471 ****

  %---------------------------------------------------------------------------------------------
! \section{Transition to a system with division of labour}

  \noindent The transition to a system with division of labour is
--- 436,440 ----

  %---------------------------------------------------------------------------------------------
! \section{Valuation: Transition to a system with division of labour}

  \noindent The transition to a system with division of labour is
***************
*** 2333,2337 ****

  %---------------------------------------------------------------------------------------------
! \section{Thoughts about valuation}

  \noindent In the preceding sections we've developed a model for pricing
--- 2302,2306 ----

  %---------------------------------------------------------------------------------------------
! \section{Valuation: some final thoughts}

  \noindent In the preceding sections we've developed a model for pricing
***************
*** 2471,2475 ****
--- 2440,2929 ----
  models on the basis of which they take decisions.

+ %---------------------------------------------------------------------------------------------
+ \section{Money}
+ 
+ \subsection{Money: What is its purpose and how does it enter into the system.}
+ \label{sec-money-purpose-enter}
+ 
+ \noindent In the preceding sections about valuation I was already
+ using the term ``money'' and it was a synonym for a defined commodity
+ like wheat. Here in this section I would like to develop the core
+ ideas of our monetary system that we use today.
+ 
+ The basic purpose of money is to serve as a book keeping
+ device. Whenever we trade one thing against the other we are
+ expressing the value of the thing in terms of monetary units. The
+ seller has in mind a minimum value of the thing he sells and the buyer
+ has in mind a maximum value that he would be willing to pay. The
+ transaction is taking place if the sellers minimum is below the buyers
+ maximum. The price at which the transaction will take place is
+ somewhere in between these two values. 
+ 
+ At that point it is interesting to point out that this transaction is
+ a win-win situation. Both, the seller and the buyer, have an advantage
+ of the transaction. Remember the example from above where
+ self-supporter was to buy a pair of shoes. It would have cost him much
+ more time to produce the pair of shoes himself that to pay for the
+ pair of shoes in some amount of wheat (money). Let's remember that
+ point as one of the core ethic principles in economic systems (see
+ below section~\ref{sec-ethics-principles}): a market transaction
+ should be a fair win-win situation between participants.
+ 
+ The things we trade can be as concrete as a cow or as abstract as a
+ piano lesson. What matters is that we have a book keeping device that
+ allows us to compare the value of a cow to the value of a piano
+ lesson.
+ 
+ Here is also the connection between money and the sections above about
+ valuation. Money is only a book keeping device. Money alone does not
+ tell us how to compare the value of a cow to the value of a piano
+ lesson. In order to do that we need to have a mental model about
+ valuation. You can either follow the arguments above about valuation
+ and accept their validity or you can create your own mental model
+ about valuation. This is not important for money itself. Your mental
+ model will tell you how to express a certain good in terms of the
+ money you use.
+ 
+ Let's consider a few examples of money. Let's assume that our money is
+ kilograms of wheat. In that case you can apply our model for valuation
+ to express the value of any other good in kilogramms of wheat. Wheat
+ has a few disadvantages, though:
+ \begin{itemize}
+ \setlength{\parsep}{0pt}\setlength{\parskip}{0pt}\setlength{\itemsep}{0pt}
+ \item It is difficult to ensure that one kilogram of wheat has the
+ same quality as another kilogram of wheat.
+ \item Wheat is heavy and difficult to transport. Imagine to pay for a
+ car in real physical wheat.
+ \item If you store it it will rot over a certain period of time and
+ you will have to protect it against mice or vermins.
+ \end{itemize}
+ But it also has several advantages:
+ \begin{itemize}
+ \setlength{\parsep}{0pt}\setlength{\parskip}{0pt}\setlength{\itemsep}{0pt}
+ \item It can be produced by a lot of farmers in nearly all countries
+ on the planet and it will enter into the economic system in a natural
+ way through the activities of the farmers. In addition it will enter
+ into the system distributed evenly over the whole country.
+ \item It is needed by everybody and its value is very intuitive.
+ \item Because money plays such a central role in our economy the
+ attention of people will be focused on how to produce wheat and ensure
+ the future production of wheat.
+ \end{itemize}
+ \lineseparator
+ \vskip 1ex
+ 
+ What if our money would be ounces of gold? Again you can apply our
+ model of valuation to express the value of any other good in ounces of
+ gold. The disadvantages of gold are:
+ \begin{itemize}
+ \setlength{\parsep}{0pt}\setlength{\parskip}{0pt}\setlength{\itemsep}{0pt}
+ \item Gold by itself basically does not have any value. The irrational
+ desire of humans to possess jewellery and the limited use of gold in
+ industry are only weak stimulations to demand gold by itself.
+ \item It enters into the economic system only in very localized gold
+ mines and not all countries on the planet possess gold mines.
+ \end{itemize}
+ The advantages are:
+ \begin{itemize}
+ \setlength{\parsep}{0pt}\setlength{\parskip}{0pt}\setlength{\itemsep}{0pt}
+ \item The quality of one ounce of gold can be ensured.
+ \item It is durable. You do not need to put any effort in maintaining
+ gold when it is stored.
+ \item It can be quantized any arbitrary amounts.
+ \item It is seldom and restricted.
+ \item At its current value a pocket full of gold is already enough to
+ purchase a car, e.g. even in its physical form you can easily carry
+ quite some amounts with you conveniently.
+ \end{itemize}
+ \lineseparator
+ \vskip 1ex
+ 
+ As next example consider that money is only special printed paper
+ issued by a central authority and defined to be ``legal
+ tender''. Basically ``legal tender'' means that you can use it in
+ contracts that you conclude and you can go to court and demand from
+ your contract partner the fulfillment in terms of this ``legal
+ tender''. Why would people believe in such a money? Because all people
+ believe in it! and it proves to have some purchasing power. Besides
+ that the central authority can demand that the taxes are to be paid in
+ this ``legal tender'' and therefore people who have to pay taxes will
+ demand it. The disadvantage here would be:
+ \begin{itemize}
+ \setlength{\parsep}{0pt}\setlength{\parskip}{0pt}\setlength{\itemsep}{0pt}
+ \item There is absolutely no intrinsic value to this type of money.
+ \item The temptation is high for the central authority to just print
+ more money and there is no physical limit to the amount of money so
+ created.
+ \item The money would only enter into the system very localized
+ through the central authority, e.g. if a government would pay for its
+ expenses with this type of money.
+ \item Paper money is also subject to rot and therefore not ideal to
+ store value for longer periods of time.
+ \item This type of money will only work as long as people believe in
+ it.
+ \end{itemize}
+ The advantages would be:
+ \begin{itemize}
+ \setlength{\parsep}{0pt}\setlength{\parskip}{0pt}\setlength{\itemsep}{0pt}
+ \item You can easily handle this type of money. You can create it in
+ arbitrary quantities and you can carry easily big amounts with out. It
+ is very convenient.
+ \item The value does not depend on the physical quality of the paper,
+ but only on the number that is printed on the bill and therefore one
+ bill of one unit of money will always have exactly the same value as
+ another bill of the same unit.
+ \end{itemize}
+ Even if this type of money is possible and was in active use through
+ several periods of history (mainly in the early years of the united
+ states) the fact that it only works because people believe in it
+ discards it in my opinion from any further consideration. You can
+ mitigate some of the shortcomings by putting definitions of terms like
+ ``legal tender'' into your legal system and allowing courts only to
+ express sentences in terms of this legal tender or to convict the
+ guilty party to pay the winner in terms of the legal tender. For
+ example you would forbid that two parties conclude a contract based on
+ other valuable goods like gold and if two parties would do it
+ nevertheless but one side of the contract would default then the court
+ would only express a sentence in terms of this legal tender which
+ would be the ``equivalent'' of gold. Another mitigating action could
+ be to requiring your tax payers to pay their taxes in this legal
+ tender. But I would consider such actions more appropriate for a
+ totalitarian regime than for a democracy with free people.
+ \lineseparator
+ \vskip 1ex
+ 
+ If money is basically a book keeping device you could imagine a
+ central trusted authority that maintains a book in which you document
+ for every participant in the economic system his account. Every
+ participant would start with an account of 0. If one person buys
+ something from the other then the price would be subtracted from the
+ buyers account and added to the sellers account. The sum of all
+ accounts would always be 0. The above explanation with the book would
+ make this mechanism basically unfeasable, but at the current state of
+ technology all of this book keeping could happen electronically and
+ automatically. The disadvantages of this system would be:
+ \begin{itemize}
+ \setlength{\parsep}{0pt}\setlength{\parskip}{0pt}\setlength{\itemsep}{0pt}
+ \item The units you write into the book have absolutely no relation to
+ any physical value. You could design the system in such a way that
+ people express the value in terms of their working hours in order to
+ give the people a way on make the link between valuation and money.
+ \item There is no mechanism to force the debtors to pay their debts
+ back. Even worse a debtor would need to find a creditor that would
+ require his services in order to keep all accounts near 0 and not
+ going out of balance absolutely.
+ \item If a member of the economic system would die his account would
+ have to be continued by somebody else. Nodoby would want to take over
+ the account of a debtor. Therefore most likely over time the overall
+ system would move to several accounts in plus without a corresponding
+ account in minus on the other side.
+ \end{itemize}
+ The positive effects would be:
+ \begin{itemize}
+ \setlength{\parsep}{0pt}\setlength{\parskip}{0pt}\setlength{\itemsep}{0pt}
+ \item There is no need to distribute money. Everybody just has some
+ units available.
+ \item Value can be stored without problem. It exists in the book or
+ electronically.
+ \item You do not have to carry it at all. Two contract partners would
+ go to the central authority and explain their transaction.
+ \end{itemize}
+ This type of monetary system is exercised in the so called LETS
+ systems (see ``Local Exchange Trading Systems''
+ \www{http://en.wikipedia.org/wiki/LETS}). People have thought about
+ how to overcome the shortcomings, but I personally do not find them
+ convincing.
+ \lineseparator
+ \vskip 1ex
+ 
+ The above example of the paper money is not so bad that we could not
+ remedy this core illness. Imagine that the base of your monetary
+ system is a commodity like wheat or gold. But then it should be
+ possible to store the commodity in a depot (basically a company that
+ is specialized in storing and safeguarding this type of commodity) and
+ you would receive a receipt as a proof that you gave your property to
+ the depot. If this receipt is not bound to a certain person but can be
+ given easily to other people who then would be entitled to fetch the
+ commodity from the depot then these receipts would have the advantages
+ of paper money but not the disadvantages of the pure paper money. The
+ important ingredient here is that the paper money is some sort of
+ receipt that entitles you to something with real value. There is
+ something on the other side of the money account with real value. By
+ the way, if you would consider in such a system only the
+ paper money as ``real'' money then there is a mechanism to create
+ money by depositing in the depot and a way to destroy money by handing
+ back the paper money to the depot to receive the base commodity.
+ \lineseparator
+ \vskip 1ex
+ 
+ The example of the LETS system teaches us that the value that we take
+ as the base of our monetary system does not necessarily have to be
+ something very concrete and tangible like wheat or gold, but it could
+ be something more abstract like working hours of people.
+ \lineseparator
+ \vskip 1ex
+ 
+ Another very interesting idea that was developed by Silvio Gesell (see
+ \www{http://en.wikipedia.org/wiki/Silvio\_Gesell}) is the ``Freigeld''
+ and/or ``Freiwirtschaft'' (see
+ \www{http://en.wikipedia.org/wiki/Freigeld}), where you have to pay a
+ fee on the possession of money. You get a bill of 100 units and every
+ month you need to buy at a central authority a certain stamp with the
+ value of 1 unit and you have to stick this stamp onto your bill of 100
+ units in order to keep it valid. Without this stamp the 100 units
+ would not be valid money any longer. Therefore you would pay 12 units
+ of money as fees per 100 unit of money you own per year. This idea
+ sounds constructed, but if you look at the early egyptian monetary
+ systems you will see that such systems can develop naturally. In Egypt
+ the farmers brought their wheat to government owned depots for
+ storage and they received receipts that entitled them to withdraw the
+ amount at a later time. When they came later to withdraw the amount
+ then the depot charged a certain fee for the safeguarding of the
+ wheat. In principle this is the same mechanism as in the
+ Freigeld. Egyptians then used the receipts as money for their daily
+ business and only after several transactions with this money
+ eventually somebody would go to the depot and withdraw the wheat. The
+ fee in the Freigeld may exert several positive effects, because people
+ will be willing to keep their money in circulation at higher
+ frequences in order to avoid paying the fee. Besides that our current
+ tax system basically chooses arbitrarily on what to charge which
+ taxes. Then why not charge taxes on the possession of money? It would
+ be easy to implement, it would be somehow ``just'' (the people with
+ more money pay more taxes), the central authority (government or
+ central bank) has one more screw to fine tune the money in circulation
+ (central banks can relatively easily extend the money supply, but they
+ have difficulties to restrict the money supply, which they could do by
+ increasing the fee per time unit that you have to pay for money) and
+ money that leaves your country will naturally flow back to it and
+ foreign owners of your currency will participate to pay your
+ taxes. There are many more positive effects that such a system may
+ exert and I recommend you to read more about these ideas.
+ 
+ \lineseparator
+ \vskip 1ex
+ 
+ 
+ Let's collect the good properties that we would like our money to
+ fulfill:
+ \begin{itemize}
+ \setlength{\parsep}{0pt}\setlength{\parskip}{0pt}\setlength{\itemsep}{0pt}
+ \item It is an advantage if money represents something of real value,
+ so that it is easy for the participants of the economic system to
+ integrate the value of money into their mental model of valuation.
+ \item You should be able to quantise money in (basically) arbitrary
+ amounts.
+ \item The quality of one piece of money of one unit should be
+ indistinguishable from another piece of money of the same unit.
+ \item Money should enter the economic system in an evenly distributed
+ way across the country to ensure its homogeneous availability.
+ \item Money should be convenient to carry also in bigger amounts.
+ \item It is desirable that money can serve as a means to store value
+ over longer periods of time.
+ \item You need to take care that you have a push and a pull mechanism
+ for money. There have to be people willing to give their money for
+ goods (push / buyers / need for goods) and there have to be people
+ willing to take money in exchange for their goods (pull / sellers /
+ need for money).
+ \item The value of money should be relatively stable. Persons
+ receiving their wages as money have to be able to reliably predict
+ that this money will pay for their needs of living over the coming
+ years.
+ \item It would be good if the type of money would not depend on local
+ conditions on a per country basis, e.g. the presence of some natural
+ resources.
+ \end{itemize}
+ 
+ 
+ \subsection{Money: Our system.}
+ 
+ \noindent Now that we explored several examples of how a monetary
+ system could work in principle let's have a look at our current
+ system. You can find more about this subject at
+ \www{http://en.wikipedia.org/wiki/Debt-based\_monetary\_system}.
+ 
+ Our monetary system is mostly a debt based monetary system. There is a
+ little base of government issued notes that were issued at the very
+ beginning of the system in order to get the system going (e.g. here in
+ Germany after World War II). There is no value ``on the other side''
+ of these government issued notes and at the very beginning the system
+ was only working because people believed in the value of this
+ money. In addition the Governments added laws into their legal system
+ and tax systems to ensure the demand of the money as described
+ above. Today the original government issued notes are only a tiny
+ fraction of the money in circulation (a few percent).
+ 
+ All the other money is created by somebody willing to take a credit
+ from a bank. If you go to a bank and ask for a credit to buy a house,
+ let's say for 100000 units of money, then the bank is looking at you
+ and judges your ability to pay back the credit minus the securities
+ (e.g. the house has an estimated value of 100000 units of money, but
+ the bank to be on the safe side treats the house as only having a
+ value of 80000 units so that in the end you need to be able to repay
+ the 20000 units). If the bank thinks that you are able to do that then
+ the bank gives you that money. Where does this money come from? As
+ first step assume we are at the ``bootstrapping'' phase of the
+ monetary system, where the government just distributed to every
+ inhabitant 50 units of money. The banks do not have yet any money from
+ the saving of their customers, but they need to start to do
+ business. In this case the central banks just create money ``out of
+ nothing'' (ex nihilo) and borrow it to the business banks. In our case
+ the central bank would borrow 100000 units to the business bank with a
+ certain rate of interest (normally the central banks ask for
+ securities in exchange, but just for the moment let's leave that
+ aspect aside). Now the business bank has the 100000 units and hands it
+ over to you at an interest rate that is a bit higher than the interest
+ rate it has to pay to the central bank (in the end the bank is a
+ company with the aim to make profits). You give the money to the
+ original house owner and get in return the house.

+ The 100000 units of money just entered into the monetary system. What
+ is now ``on the other side'' of the equation? What value represent the
+ 100000 units of money? To facilitate the argument let's assume that
+ the house really can be sold for 80000 units (this is not certain!)
+ then for 80000 units of money the house is on the other side of the
+ equation. But what is with the final 20000 units? For the final 20000
+ units of money your ability to work is on the other side. You are able
+ to invest your worktime into some profitable undertaking like
+ farming. You can work and produce potatoes and sell them to the owner
+ of the 100000 units of money. But wait a moment, you want to repay all
+ the 100000 units plus the interest rate, because you do not want to
+ default and lose the house. How do you do that? You will work and sell
+ potatoes right? But there are only 100000 units of money in
+ circulation that you can earn, what do you do with the interest rate
+ you have to pay? You will have to find another person who is willing
+ to take a credit so that more money is in the economic system that you
+ can earn. Very good, now you are able to pay your debts including the
+ interest rate. But what is this other person that was taking another
+ credit doing then?
+ 
+ Whenever you take a credit that includes interest rate you not only
+ promise to invest your work time to pay back the debts, but you
+ promise in addition to find other people willing to take debts or to
+ increase their current debt level.
+ 
+ Every bill of paper money you have in your wallet and every unit of
+ money you have in your bank account as plus are the debts of somebody
+ else. If there would not be any people willing to take credits any
+ more our system would break down, because while paying back their
+ debts they destroy the money that was created by taking the
+ debts. Without debts basically there would not be any money in
+ circulation.
+ 
+ Our monetary system requires exponential growths of people willing to
+ take credits (in fact of the credit volume that people are willing to
+ take) and through those people who need to repay their depts it
+ requires exponential growths of our real economy that produces goods.
+ 
+ If you look above then you will see that not only the 20000 units of
+ money are covered by your work but the total 100000 units plus the
+ interest, because you are willing to pay back all of the debts to
+ finally completely own the house. The ability to work and to produce
+ goods and services is what is on the other side of money in our
+ monetary system. It is no tangible commodity like wheat or gold, but
+ the abstract ability to work and produce goods and services for other
+ people who then will demand them.
+ 
+ \subsection{Money: More detailed explanation of the mechanisms}
+ 
+ %account statements for participants
+ 
+ 
+ \subsection{Money: Our system and how well it fulfills the requirements}
+ 
+ 
+ \noindent In section~\ref{sec-money-purpose-enter} at the very end we
+ have enumerated a few requirements that money should fulfill. Let's
+ evaluate how well our current system fulfills these requirements.
+ \begin{enumerate}
+ \setlength{\parsep}{0pt}\setlength{\parskip}{0pt}\setlength{\itemsep}{0pt}
+ \item Our money represents something of real value: the ability of the
+ debtors to work and produce. This is quite abstract and it makes it
+ difficult to integrate this concept into a mental model of
+ valuation. The work time of one person is not the same as the work
+ time of another person. But in the end what is on the other side of
+ the equation is not really the work time, but the ability to pay back
+ the credit. If the debtor is not a real person, but a company then
+ this is important! What is on the other side of the equation is the
+ ability of the company to pay back the credit. It does so by producing
+ goods and services for other people and companies.
+ 
+ Dangerous at that point is that we allow governments to take
+ credits. The politicians who sign the credit contracts cannot be held
+ responsible for their actions and the people of the country will
+ certainly not pay back the huge amounts of money that the western
+ governments have accumulated as debts. Alone in the US the government
+ debt per family is higher than 500000\$! The average US family is not
+ able to pay back that amount of debt.
+ 
+ The idea to put the ability to work on the other side of the equation
+ is good, because it immediately implies that the debtors will ask for
+ money to pay back their debts. This is a natural pull mechanism that
+ will keep the value of money high.
+ 
+ The extreme weakness of that approach is that there is no mechanism to
+ force the banks that give the credits to ensure that the debtors
+ really have the ability to pay back their debts. If a debtor (or a lot
+ of debtors) will be inable to pay back their credits then the banks, in
+ order to hide their losses, may be inclined to not send the bad
+ customers into litigation but to just stop the repayment of the
+ credits at no interest rate and to hope that at some point the
+ customer will have money again.
+ 
+ If a small debtor cannot pay back then the debtor has a problem, but
+ if a lot of debtors or a big debtor cannot pay back then the creditors
+ have the problem. All people who own money and have a positive account
+ statement are creditors in our system!
+ 
+ \item We are able to quantise money in (basically) arbitrary amounts.
+ \item The quality of one piece of money of one unit is
+ indistinguishable from another piece of money of the same unit.
+ \item Money is entering into the economic system in an evenly
+ distributed way across the country. Families take credits to buy cars
+ or build houses, companies take credits to finance their businesses,
+ governments take credits to finance their expenses, ...
+ \item Money is convenient to carry also in bigger amounts.
+ \item The ability to store value over a longer time as money is
+ restricted by the rate of inflation. This can be circumvented by
+ investing the surplus of money in the credit market or some other
+ financial market.
+ \item As explained above our current system has a natural pull
+ mechanism integrated as it requires the debtors to pay back their
+ credits and therefore ask for money. The push mechanism is also
+ working fine as every credit serves a purpose and is spent on real
+ goods.
+ \item The value of money is currently relatively stable, but this may
+ change rapidly once people start to realize how fragile our monetary
+ system is because of the shortcomings explained unter point 1. It is
+ really incredible that people dare to create a monetary system that at
+ the core of the system cannot work for extended period of times
+ because of its requirement for exponential growths. At some point
+ people will not want to take more credit or cannot afford to take more
+ credit and then it will not even theoretically be possible to pay back
+ the debts and a lot of people will default at the same time.
+ 
+ An alternative would be that people continue to take credit at an
+ exponential rate, but then money would become at some point so
+ abundant that ithe monetary system would break down through hyper
+ inflation.
+ 
+ I personally guess that we would be already at that point with the US
+ Dollar if not the Asian central banks of Japan and China would buy the
+ dollars and absorbe them to take them out of the market as demand for
+ goods. The amount of goods is to small compared to the amount of
+ dollars that are in circulation so that the value of the dollar must
+ drop deeply!
+ \item Our money does not depend on local conditions on a per country
+ basis. Every country can introduce a debt based money system in the
+ same way.
+ \end{enumerate}
+ 
+ 
+ \section{Ethics: Principles to follow by every individual participant in economic systems.}
+ \label{sec-ethics-principles}
+ 
+ \begin{enumerate}
+ \setlength{\parsep}{0pt}\setlength{\parskip}{0pt}\setlength{\itemsep}{0pt}
+ \item A market transaction should be a fair win-win situation between participants.
+ \end{enumerate}

Update of /cvsroot/ojts/MoneyInEconomicSystems/web-site
In directory sc8-pr-cvs3.sourceforge.net:/tmp/cvs-serv4739

Modified Files:
	money-and-other-crisis.html 
Added Files:
	literatur.txt 
Log Message:
Added literature list from Thomas Fischbacher

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Persoenliche bisherige Literaturliste zur Energiekrise
(bzw. genauer: "Energiementalitaetskrise" - unser Problem
ist nicht so sehr, dass Energie knapp wird, sondern dass
wir nicht sehr sinnvoll mit ihr umgehen.)

             Dr. Thomas Fischbacher,
              tf...@fu...

                       10.08.2006
               Update: 14.09.2006
               Update: 21.06.2007
	       Update: 05.08.2007

(Darf und soll gerne auch weiterverbreitet werden)
===============================================================

Prae-Praeambel:

Das Meiste des folgenden Textes ist zu verschiedenen Zeiten in einem
Zustand vollständiger Übermüdung entstanden. Ich bitte dies zu
entschuldigen.

Praeambel

In einem Abendvortrag ueber die Energiekrise auf der
CdE-Pfingstakademie 2006 habe ich eine Reihe von Buechern kurz
vorgestellt, die eine kleine Auswahl der mir persoenlich wichtigsten
Werke darstellen, die ich im vorangehenden Jahr zu diesem Thema
gelesen hatte und fuer sehr wichtig halte. Freilich lese ich immer
auch weiter interessante Werke (und hole mir dort auch Anregungen für
eigene Experimente und Dinge, die ich selber besser machen kann), und
ab und an finde ich auch ein wenig Zeit, um meine private
Energiekrise-Literatur-Liste aktuell zu halten.

Je laenger und intensiver ich mich mit dem Thema beschaeftige, desto
mehr Struktur kann ich erkennen, wie die Querverbindungen zwischen
verschiedenen Ideen aussehen, wer sich wann weshalb mit was
beschaeftigt hat, welche Gruppen und Stroemungen sich herausgebildet
haben, wie welche Ansaetze einzuschaetzen sind, was die relevanten
Aspekte eines Ansatzes sind, worauf man also achten sollte, usf.

Ein zentraler Aspekt ist, dass es in einer Situation der
Energieverknappung eine sehr gute Strategie ist, sich nicht darauf zu
verlassen, dass schon irgendwer kommen und etwas tun wird, "um die
Welt zu retten", sondern wir stattdessen als allererstes selbst
gefragt sind und in erster Linie verstaerkt in Richtung
Eigenverantwortung ("Hilf Dir selbst") gehen sollten, und uns darum
kuemmern sollten, gesellschaftliche Querverbindungen ebenso wie
Kompetenzen in verschiedenen nuetzlichen Bereichen zu entwickeln.

Das zentrale Thema dieser Sammlung ist die Idee, einzelnen Menschen
und kleinen Gruppen wichtige Informationen an die Hand zu geben, die
es ihnen ermoeglichen, mehr Eigenverantwortung fuer ihr Dasein auf
diesem Planeten zu uebernehmen und ressourcenbewusster zu leben.
Verantwortung ist in allen Nachhaltigkeitsfragen ein zentrales aber
oft nicht explizit angesprochenes Thema: Bis zu welchem Grad ist es
vernuenftig, sein eigenes Leben vom reibungslosen Funktionieren
komplexer Versorgungssysteme abhaengig zu machen, und wie viel
Unabhaengigkeit sollte man sich dringend bewahren?

Es gibt viel Literatur zu diesen Themen, wovon allerdings viel in
Richtung "Bestandsaufnahme" und "Katastrophenvorhersage" geht, aber
leider das Aufzeigen brauchbarer, gangbarer Alternativen schuldig
bleibt. Meines Erachtens sind solche Werke kaum das Papier wert, auf
dem sie gedruckt wurden, denn die Vorstellung zu schueren, Probleme
seien grundsaetzlich ganz und gar unloesbar, muß zwangslaeufig dazu
fuehren, daß irgendwelche sehr wirren Vorstellungen entstehen, was
denn dann die besten individuellen Verhaltensstrategien
seien. Einzelne denken hier in die Richtung, sich grosse Vorraete
anzulegen und zu bewaffnen, "um sich gegen den hungrigen Mob
verteidigen zu koennen". Sicher ist Vorratshaltung eine vernuenftige
und anzuratende Sache, allerdings kann derartige "Bunker-Mentalitaet"
keinesfalls eine brauchbare Strategie sein, weil sie einer eingeengten
Weltsicht entstammt, die ganz wichtige Grundaspekte der Struktur
unserer Probleme verkennt.

Insbesondere gilt es, zu einer fundamentalen Einsicht zu gelangen: in
die meisten der Problem-Analysen, die auf eine Art "gesellschaftlicher
Totalzusammenbruch" hinauslaufen, gehen viele versteckte Annahmen ein,
die typischerweise in die Richtung laufen, dass gewisse
Grundbeduerfnisse sich nur auf Basis stark zentralisierter
industrialisierter Systeme erfuellen liessen. Solange man sich von
diesem Denken gefangennehmen laesst, sieht die Zukunft in der Tat sehr
duester aus. Wenn man allerdings bereit ist, eine breitere Perspektive
einzunehmen und unkonventionelle Ansaetze in Betracht zu ziehen,
stellt man fest, dass oftmals die Kernaussage solcher "Analysen mit
versteckten Annahmen" eigentlich nur ist, dass die Industrialisierung
Probleme schafft, die sich mit den Methoden der Industrialisierung
nicht loesen lassen. Und das sollte eigentlich nur diejenigen wirklich
ueberraschen, die die Industrialisierung in ihrer Vorstellungswelt
faelschlich mit irgendwelchen quasi-religioesen Allmachts-Attributen
versehen haben.

Bei der Frage, welche Einstiegspunkte ich mir gesucht habe, um
ueberhaupt potentiell interessante Quellen zu finden, hat auf jeden
Fall Koenig Zufall eine bedeutende Rolle gespielt, und so bin ich mir
sicher, dass es eine Reihe weiterer interessanter Werke gibt, die
bisher auf meinem Radar nicht aufgetaucht sind, die man aber
eigentlich kennen sollte, wenn man sich mit konstruktiven
Loesungsansaetzen beschaeftigt, die in die Richtung gehen,
Rettungsboot-Alternativsysteme aufzubauen. Insofern bin ich hier auch
fuer weiteren Input sehr dankbar. Allerdings stelle ich auch fest,
dass die hier vorgestellte Auswahl und Priorisierung erhebliche
Ueberschneidungen zeigt mit den Werken, die andere fuer zentral
relevant halten, die sich mit diesen Themen beschaeftigen.

Was mir persoenlich hier am wichtigsten ist, ist, dass ueber
verschiedene Themen leider auch oft sehr viel von Leuten geschrieben
wird, die ihren Horizont und ihre Faehigkeit, die Komplexitaet des
Problems zu durchschauen, weit ueberschaetzen, und dem Gedanken
nachhaengen, nur sie allein haetten durchschaut, was schief laeuft und
den einzig denkbaren Weg fuer die Zukunft entdeckt. Das fuehrt auf das
Terrain der Ideologien. In der Vergangenheit hat sich immer wieder
gezeigt - was ja an sich auch logisch ist - dass eine Ideologie, die
mit der Realitaet kollidiert, und sich aber fuer so heilig haelt, dass
sie keinerlei Kritik (selbst durch reale Tatsachen) duldet, immer zu
grossem Leiden fuehrt. Die Faehigkeit, sich von ehemaligen
Vorstellungen, die sich in der Realitaet als falsch herausgestellt
haben, auch loesen zu koennen, gehoert meiner privaten Einschaetzung
nach zu den allerwichtigsten ueberhaupt.

Das bedeutet freilich nicht, dass nicht auch Menschen, die ihre
Position sehr ideologisch vertreten, in manchen Fragen vielleicht sehr
gute Denkanstoesse liefern koennen - nur sollte man wachsam sein und
auf keinen Fall in die Falle tappen, sich von der Gedankenwelt solcher
Menschen so weit absorbieren zu lassen, dass man irgendwann die
Ideologie ueber die realen Gegebenheiten stellt! Die Welt will
studiert werden, und braucht den ehrlichen Versuch, nach einem
moeglichst akkuraten, an eigenen Beobachtungen orientierten und nicht
durch Denkmodelle verklaerten Bild zu streben. Auch bedeutet dies
nicht, dass man unter einem vermeintlichen Deckmantel der Toleranz
ueber Dinge hinwegsehen darf, die wichtig sind, eine Entscheidung fuer
den einen oder den anderen Weg erfordern, insbesondere wenn
gewissenhaft durchgefuehrte Experimente die zentral wichtigen
Einsichten liefern koennen! (Experimente sollten irgendwo auch klar
machen, wie viel Erkenntnisgewinn im Ergebnis und wie viel in der
speziellen Fragestellung an sich steckt. Es gibt Tests, die deswegen
brilliant sind, weil sie hochgradig nicht-offensichtliche aber
wichtige Fragen stellen, die so niemand zuvor gestellt hat, genauso
wie es Experimente gibt, die durch ihren ungewoehnlichen Ausgang zu
einem grossen Erkenntnisgewinn gefuehrt haben. Als schaebig zu
betrachten sind allerdings beispielsweise Experimente, bei denen die
Fragestellung mit der Zielsetzung konstruiert wurde, auf
nicht-offensichtliche Weise das Ergebnis bereits vornwegzunehmen.)

Die folgende Auswahl an Werken ist nach Relevanz sortiert, wobei ich
jeweils eine kurze Begruendung gebe, warum das entsprechende Werk
wichtig ist. Meine internen Relevanz-Angaben gehen von R10 (extrem
wichtig, sollte jede Bibliothek ganz dringend haben) bis R1 (eventuell
als Hintergrund interessant), wobei allerdings diese Liste nur Werke
enthaelt, deren Relevanz im oberen Bereich liegt.

Gedruckte Literatur
===================

R10: Louis Fischer, The Life of Mahatma Gandhi, ISBN 0-00-638887-6

Die gravierenden Probleme, mit denen wir uns heute konfrontiert sehen,
erstrecken sich auf viele verschiedene Bereiche: wir sehen
wirtschaftliche, soziale, ethische, kulturelle, militaerische,
politische, oekologische Krisen, die oberflaechlich betrachtet wie
unabhaengige Phaenomene wirken koennen, allerdings alle eine
gemeinsame Wurzel haben, die mit unseren Einstellungen zu
fundamentalen Fragen zu tun hat.

Die besondere Relevanz Gandhis liegt darin, dass er sehr praktisch
orientiert ganz unmittelbar als Mann der Tat durch eigenen Einsatz
demonstriert (statt nur theoretisiert) hat, dass es durchaus moeglich
ist, viele Dinge auch ganz anders anzugehen, und unglaublich
erfolgreiche Alternativen aufgezeigt hat. Leider wissen wir in unserer
westlichen Welt nur sehr wenig ueber Gandhi, und das was wir zu wissen
glauben, ist oftmals sogar falsch. (So war "Mahatma" nicht Name,
sondern Titel, und Gandhi war auch nicht verwandt mit der indischen
Premierministerin Indira Gandhi.) Diese Biographie ist dahingehend
bemerkenswert, dass Louis Fischer es schafft, Gandhis Weltsicht und
Herangehensweise an Dinge auf eine fuer Westeuropaeer verstaendliche
Weise aufzubereiten.

Es mag ungewoehnlich wirken, eine Biographie an erster Stelle in einer
Literaturliste zur Energiekrise zu finden, allerdings duerfen wir nie
vergessen, dass die Energiekrise nur Symptom einer tieferen Krise
menschlicher Einstellung, menschlicher Erwartungen, und menschlicher
Entscheidungsfindung ist. Auch wenn es viele pfiffige und erprobte
Techniken und Ansaetze zur Loesung dieser Krisen geben mag, im Kern
haengt ihre Effektivitaet immer davon ab, wie sehr Menschen in der
Lage sind, vernuenftige Entscheidungen zu treffen. Deswegen steht
Gandhi hier an allervorderster Stelle.

R10: Bill Mollison: Permaculture - A Designer's Manual, ISBN 0-908228-01-5

Um den Literaturnobelpreistraeger Dario Fo frei zu zitieren: Grosse
Personen entstehen aus einer grundlegenden Notwendigkeit fuer
Veraenderung heraus. So verwundert es nicht, dass es bei diesen
Problemen, von denen alle Teile der Welt betroffen sind, auch in allen
Teilen der Welt Pioniere gegeben hat, die sich mit
Alternativstrategien und Loesungen beschaeftigt haben. Wenn nun
Einzelpersonen von der dringenden Notwendigkeit ihrer Arbeit aus der
Masse hervorgehoben werden, erhalten die Loesungsansaetze, die sie
mitbringen, ueber ihre durch die unmittelbaren Erfordernisse
vorgegebene Grundstruktur hinaus oft eine persoenliche Note durch die
Weltsicht dieser Pioniere. Sehr deutlich wird dies beispielsweise im
deutschsprachigen Raum, wo es durch einen kuriosen Zufall ein dem
Okkulten zugeneigter Esoteriker war, der wichtige Impulse für eine
dringend notwendige Revolution des Denkens in der Landwirtschaft
geliefert hat: Rudolf Steiner. 

In anderen Regionen hat es freilich andere Pioniere gegeben, und von
all diesen ist wahrscheinlich der Australier Bill Mollison einer der
Interessantesten. Die wohl wichtigste Einsicht, die Bill Mollisons
Arbeit zugrundeliegt, ist, daß unsere westliche Wissenschaftskultur
daran krankt, daß wir zwar viele Zusammenhänge im Prinzip verstehen,
uns aber nur in Ausnahmefällen Gedanken machen, wie wir dieses Wissen
konkret anwenden können, um unsere Lebensumstände zu
verbessern. Insbesondere in der wissenschaftlichen Oekologie gibt es
die starke Tendenz, Lebensräume und ihre Interaktionen zu studieren
und zu beschreiben, ohne jemals auf den Gedanken zu kommen, die
gewonnenen Erkenntnisse bewußt einzusetzen für den Entwurf inhaerent
stabiler produktiver Systeme.

Das "Permaculture Designer's Manual" ist ein dickes Kompendium (etwa
600 Din A4 Seiten), das vollgepackt ist mit einer zu einem
funktionierenden großen Ganzen zusammengefuegten Collage aus
verschiedensten praxiserprobten Techniken und Ansaetzen, die auf
nichts geringeres Abzielen als den bewussten, intelligenten Entwurf
paradiesischer produktiver Gaerten. Neben grundsaetzlichen Kapiteln,
die sich mit den zentral wichtigen Wirkungsmechanismen und
Zusammenhaengen in der Natur beschaeftigen, an denen sich jedes
langzeitstabile System orientieren muss, ist dieses Werk vollgepackt
mit Detail-Informationen zu Techniken, wie sich diese
Wirkungsmechanismen sinnvoll nutzen lassen.

So wichtig dieses Werk auch ist, zeigt sich leider das Problem, dass
Bill Mollison (der fuer das Permakultur-Konzept 1981 mit dem
Alternativen Nobelpreis ausgezeichnet wurde) bisweilen Schwierigkeiten
mit Symbolen und Zahlen zu haben scheint. Das Werk enthaelt etliche
kleinere Fehlerchen von der Art, dass die chemische Formel des
Hydroxid-Ions stets als OH^2- angegeben wird, oder die Formel von
Rutil as TiFe, oder bisweilen bei manchen Zahlen die angegebenen
Groessenordnungen offensichtlich verschoben sind. Diese Kleinigkeiten
tun dem Werk an sich keinen Abbruch, da diese Fehler erstens
typischerweise nur an irrelevanten Stellen auftauchen, zweitens zu
allen vorgestellten Techniken auf die Originalquellen verwiesen wird,
in denen diese Dinge richtig beschrieben sind, und drittens solche
Fehler mit etwas physikalisch-chemischer Allgemeinbildung, gesundem
Menschenverstand und der Faehigkeit zu Ueberschlagsrechnungen leicht
zu verbessern sind. Fazit: Man darf nicht alles woertlich nehmen, aber
gerade Physiker, die bereit sind, sich auf dieses Abenteuer
einzulassen, duerften dieses Werk schnell als unverzichtbar ansehen.

R10: Patrick Whitefield: "The Earth Care Manual", 
 ISBN-13: 978-1856230216, ISBN-10: 185623021X

Waehrend das "Permaculture Designer's Manual" sich weltumspannend mit
Loesungen vor allem auch fuer nachhaltige Landwirtschaft in tropischen
Regionen und Wuestengebieten beschaeftigt, konzentriert sich das
"Earth Care Manual" ausschliesslich auf die klimatischen und
gesellschaftlichen Verhaeltnisse in West- und Mitteleuropa. Das
bedeutet zum einen, dass das Buch sich am zu erwartenden Wissensstand
eines Westeuropaeers orientiert, zum anderen, dass es bei einigen fuer
uns wichtigen Strategien viel mehr ins Detail geht als das
"Permaculture Designer's Manual". Das Werk ist in jeder Hinsicht
exzellent, sowohl was die Auswahl und Strukturierung des Materials wie
auch die angegebenen Literaturverweise anbelangt, als auch im Hinblick
auf Gestaltung und optische Aufmachung. Es macht Freude, im "Earth Care
Manual" zu lesen.

R10: Masanobu Fukuoka, "The Natural Way of Farming",
 ISBN-10: 8185987009
 ISBN-13: 978-8185987002
 Sowie: Masanobu Fukuoka, "The One Straw Revolution"
 ISBN-10: 8185569312
 ISBN-13: 978-8185569314

Beide Werke sind vergriffen, allerdings gibt es eine interessante
einfache Moeglichkeit, an den Text zu kommen: Der Australier Steve
Solomon betreibt unter http://www.soilandhealth.org/ eine
Online-Bibliothek, die ein "digitales Ausleihen" ermoeglicht. (Nach
Australischem Urheberrecht ist es legal, digitale Dokumente
Einzelpersonen fuer Studienzwecke zur Verfuegung zu stellen, wenn die
entsprechenden Werke nicht mehr gedruckt werden.) Beide Buecher stehen
als PDFs in der Sektion "Agricultural Library" zum Download zur
Verfuegung.

Genauso wie Australien die oekologische Krise den Pionier Bill
Mollison hervorgebracht hat, hat sich in Japan Masanobu Fukuoka mit
konstruktiven Loesungsansaetzen beschaeftigt. Fukuokas Arbeit ist
hochinteressant, weil er auf sehr tiefer Ebene anfaengt, sich mit
Grundfragen der menschlichen Kultur bzw. Zivilisation
auseinanderzusetzen, und einige sehr interessante Gedanken
beisteuert. Obwohl "The One Straw Revolution" sein bekannteres Werk
ist, ist sein anderes Buch in meinen Augen wesentlich wichtiger, weil
es die Kerngedanken besser herausarbeitet. Fukuoka ist in seinem
Denken merkbar beeinflusst von Ideen, die wir dem Zen-Buddhismus
zuschreiben wuerden, und gerade diese andere Perspektive macht seine
Arbeit sehr interessant. Darueberhinaus zeigt er eine praktische
Loesung fuer das wichtigste Grundproblem der menschlichen Zivilisation
ueberhaupt: Der Ackerbau zerstoert langsam aber bestaendig den Boden
und somit ist es fuer jede Kultur, deren Basis der Pflug ist, nur eine
Frage der Zeit, bis sie ihre eigenen Lebensgrundlagen vernichtet hat
und zugrunde gehen muss. Fukuoka hat eine Methode entwickelt, die bei
hohen Ertraegen die Bodenfruchtbarkeit langfristig verbessert, statt
sie zu zerstoeren.

R10: John Lewis, "A Doctor's Occupation", 
 ISBN-10: 0952565919,
 ISBN-13: 978-0952565918

Waehrend die vorangehenden Werke in den Regalen vieler Leute stehen,
die sich um den Zustand der Welt konstruktive Gedanken machen, findet
man dieses Buch wahrscheinlich eher selten. Dennoch halte ich es fuer
unglaublich wertvoll.

Die Kanalinseln (Jersey, Guernsey, Alderney) waren der einzige Teil
des britischen Koenigreichs, der waehrend des 2. Weltkriegs von den
Nazis besetzt wurde. Es ist hochinteressant, diese Schilderung eines
Arztes zu lesen, der die Zeit der Besatzung auf Jersey miterlebt und
durchgestanden hat. Die Situation auf Jersey war in dieser Zeit
bestimmt von gradueller Ressourcenverknappung, die dramatische
Ausmasse angenommen hat (da die Insel ueber laengere Zeit von der
Aussenwelt abgeschnitten war) bei einer fuer damalige Verhaeltnisse
relativ hohen Bevoelkerungsdichte, die sich im Bereich der heutigen
Bevoelkerungsdichte in England bewegt haben duerfte. Durch die
richtige Brille betrachtet lassen sich aus dieser Schilderung viele
Einsichten gewinnen, worauf es in solchen Situationen ankommt, welche
Probleme zu erwarten sind, und welche unerwarteten Probleme auftauchen
koennen. Bemerkenswert ist insbesondere, dass es fuer die Insulaner
wohl durchaus moeglich gewesen waere, ihre eigene Situation erheblich
zu verbessern, wenn sie es geschafft haetten, sich staerker von -- an
sich selbstauferlegten -- unnoetigen Zwaengen zu loesen.

R10: Satish Kumar, "You are therefore I am - a declaration of dependence"
 ISBN-10: 1903998182
 ISBN-13: 978-1903998182

Eine zentrale Einsicht, die allen Religionen zugrundeliegt, ist, dass
der Mensch weit mehr ist als seine unmittelbare koerperliche
Existenz. Die Luft, die wir atmen, das Wasser, das wir trinken, der
Flecken Erdboden, von dem wir unsere Nahrung erhalten, die Kultur, die
unser Denken formt, gehoeren genauso untrennbar zu unserer eigenen
Existenz wie unsere Haende, unsere Augen, unser Kopf, unser
Herz. Waehrend in unserem westlichen Kulturkreis oft naive
Vorstellungen weitverbreitet sind, Religion haette notwendig immer mit
naivem Mystizismus und dem Glauben an Wunder zu tun, die von hoeheren
Maechten gewirkt werden, sowie der Notwendigkeit, irgendwelche von
diesen Maechten vorgegebenen Regeln zu befolgen ohne sie zu
hinterfragen, ist gerade im asiatischen Raum oft auch ein tiefes
Verstaendnis fuer den sozio-kulturellen Sinn religioeser Regeln,
gerade im Hinblick auf Ressourcenmanagement, verbreitet.

Satish Kumar wurde in Indien geboren und hat einen großen Teil seines
Lebens als wandernder Bettelmoench verbracht. Heute lebt er in
Grossbritannien und ist Herausgeber des "Resurgence Magazine". Eine
kurze Biographie findet sich auf:

http://www.resurgence.org/satish/index.htm

Sein Buch "You are therefore I am" ist in mehrerlei Hinsicht
interessant, unter anderem weil es inspirierende Dialoge mit
herausragenden personen wie Martin Luther King enthaelt, vor allem
aber auch, weil es Einblicke und Hintergruende in die indische Kultur
liefert, die etwa auch zeigen, wie viel etwa von Gandhis spezieller
Weltsicht an sich tief verwurzelt in der indischen Denkweise und
Tradition ist. Enthaelt sehr interessante und tiefe Gedanken ueber die
grundsaetzliche tiefere Struktur der Krise, in der wir uns befinden.

R10: Ray Mears, Essential Bushcraft, ISBN-13 9780340829714

Ein probater Weg, die Frage zu beantworten, was rein praktisch
betrachtet wirklich essentiell ist, und wie wichtig die wirklich
wichtigen Dinge sind, ist, von der Erfahrung echter Wildnis-Abenteurer
zu lernen. Abgesehen von einer interessanten Außenperspektive auf
unsere Zivilisation, die deutlich zeigt, wie unnötig vieles von dem,
woran wir uns sehr gewöhnt haben eigentlich ist, enthält dieses
Taschenbuch eine Fülle an generell wissenswerten Detail-Informationen,
worauf man beim Arbeiten mit der Axt achten sollte, wie man mit einer
Saege Verletzungen vermeidet, und vieles mehr. Wenn jeder Haushalt die
noetige Ausruestung und das Wissen haette, um zur Not auf die Schnelle
in ein Zelt umzuziehen, koennten wir dank solcher Flexibilitaet vielen
der fuer dieses Jahrhundert noch zu erwartenden -
v.a. Klimawandel-induzierten - Katastrophen (Ueberflutungen,
Seuchen-Ausbrueche) wesentlich entspannter begegnen. Auch wenn sich
freilich "Bushcraft" nicht aus einem solchen Buch lernen laesst, und
vor allem auch jedem, der sich naeher damit beschaeftigen will
dringend ein Erste-Hilfe-Kurs zu empfehlen waere, der ueber
Unfallversorgung bis zum Eintreffen der Notrettung hinausgeht, ist
dieses Werk sicher sehr nuetzlich, um ansatzweise die richtige
Priorisierung solcher Grundnotwendigkeiten wie Waerme, Wasser, und
Nahrung zu vermitteln.

R10: John Jeavons, "How To Grow More Vegetables"
 ISBN-10: 1-58008-233-5
 ISBN-13: 978-1-58008-233-4
Sowie: J. Jeavons, C. Cox, "The Sustainable Vegetable Garden",
 ISBN-10: 1580080162
 ISBN-13: 978-1580080163

Die moderne industrialisierte Landwirtschaft wird heute gemeinhin als
hocheffiziente Methode der Nahrungsmittelproduktion angesehen, die es
einem Bauern ermoeglicht, mehr als 100 Menschen zu ernaehren. In einer
Situation erheblicher Ressourcenverknappung (insbesondere: fruchtbarer
Boden pro Person, fossile Brennstoffe, und Wasser) aendern sich
allerdings hier die Spielregeln schnell und grundlegend. In so einer
Situation ist die sowohl im Hinblick auf Energie-Einsatz als auch
Flaeche effizienteste Art und Weise, Nahrungsmittel zu erzeugen, der
Gartenbau mit Handwerkzeugen auf kleiner Skala. Das liegt vor allem
daran, dass es dem Gaertner moeglich ist, der einzelnen Pflanze viel
mehr Beachtung zu schenken, und auf mikroklimatische Eigenheiten
einzugehen, wo es der auf grossen Flaechen arbeitenden
industrialisierten Landwirtschaft nie moeglich waere, so viel
Detail-Aufmerksamkeit zu investieren. John Jeavons hat eine
Gartenbaumethode perfektioniert, die auf Techniken der alten Chinesen
zurueckgeht und auch Elemente der Methoden der ebenfalls aeusserst
flaecheneffizienten Marktgaertner im Umland um Paris im
19. Jahrhundert verwendet, die es halbwegs erfahrenen Gaertnern
ermoeglicht, praktisch ohne Einsatz fossiler Brennstoffe den
vierfachen Flaechenertrag herkoemmlicher landwirtschaftlicher
Produktion zu erzielen. "How To Grow More Vegetables" ist das
Hauptwerk, das diese Methode beschreibt, allerdings sollte man sich in
dreierlei Hinsicht hier keinen Illusionen hingeben: erstens macht
einen die Lektuere dieses Buches nicht von heute auf morgen zum
erfahrenen Profigaertner, sondern die noetige Erfahrung laesst sich
nur im Garten sammeln, auch wenn dieses Werk den Weg weist, zweitens
ist das Buch stellenweise so geschrieben, daß man leicht verfuehrt
wird, das was es zu sagen hat optimistischer aufzufassen als es dort
eigentlich steht, drittens darf man sich dahingehend nicht taeuschen,
dass die erste Vorbereitung eines solchen Intensiv-Beets auf jeden
Fall mit einer Menge Schweiss und harter Arbeit verbunden ist.
Dennoch ein immens wichtiges Werk. "The Sustainable Vegetable Garden"
beschaeftigt sich ebenfalls mit diesen Techniken, ist allerdings
wesentlich duenner und fuer Leute geschrieben, die nicht erst aus den
Detail-Anleitungen einen eigenen Gartenplan entwerfen und vorher eine
detaillierte Diskussion zu Nachhaltigkeit und Bodenerosion lessen
wollen, sondern mit einem kleinen Beet einfach loslegen wollen.

R10: Joseph Jenkins, "The Humanure Handbook"
 ISBN-10: 0964425831
 ISBN-13: 978-0964425835

Intensiv-Gartenbaumethoden, die viel aus dem Boden herausholen, müssen
freilich mit Methoden kombiniert werden, die dem Boden viel
zurueckgeben. Es ist ein Grundgesetz der Natur, dass Systeme nur dann
auf die Dauer funktionieren koennen, wenn Naehrstoff-Fluesse im Kreis
gefuehrt werden und insbesondere Stickstoff und Phosphat nicht teuer
unter Aufwendung endlicher Ressourcen (Erdgas bzw. erschoepfliche
Phosphat-Minen) von aussen eingebracht und als Abfall ins Meer gepumpt
werden, sondern im Kreislauf gehalten werden. In letzter Konsequenz
bedeutet das insbesondere, dass auch menschliche Faekalien als
Rohstoff und Ressource zur Verbesserung der Bodenfruchtbarkeit
angesehen werden muessen. Im asiatischen Raum ist diese Einsicht
nichts ungewoehnliches, waehrend unsere Kultur teils extreme Hemmungen
im Umgang mit menschlichen Faekalien hat. Das teils sehr humorige Buch
von Jenkins enthaelt sowohl detailgenaue Informationen ueber die
Theorie der Kompostiervorgaenge, Mikrobiologie, Lebenszyklen von
Parasiten, als auch geschichtlichen Hintergrund zum Umgang mit
menschlichen Faekalien durch die Jahrhunderte in verschiedenen
Kulturen, und ganz praktische Anleitungen zur Beantwortung der
Grundfrage, die die Menschheit seit jeher quaelt: "Wohin mit dem
Scheiss"?

Der groesste Teil des Textes ist auch online zu finden unter:

http://www.weblife.org/
(PDF) http://www.weblife.org/humanure/pdf/humanure_handbook_third_edition.pdf
Auch als HTML verfuegbar.

R10: John Seymour, "The Self-Sufficient Gardener",
 ISBN 0-385-14670-1

John Seymour, Papst der Selbstversorger, hat aus der Perspektive des
erfahrenen Praktikers etliche hochinteressante und lehrreiche Buecher
geschrieben. Sein Buch ueber den Gartenbau beschaeftigt sich ebenfalls
mit der Jeavons-Methode, allerdings behandelt er das Thema wesentlich
detaillierter als Jeavons, dessen Werk doch streckenweise sehr 
"amerikanisch" wirkt.

R10: Robert Kourik, "Designing and maintaining your edible landscape
naturally"

Waehrend der klassische Gartenbau oft sehr viel Hand-Arbeit ist,
betont der Permakultur-Ansatz Alternativmethoden, die Schweiss durch
Intelligenz zu ersetzen versuchen. Robert Kourik behandelt das ganze
Spektrum und geht auf diese verschiedenen Formen gleichermassen
ein. Das Buch ist insbesondere hochinteressant weil es viele
nuetzliche Daten ueber Pflanzen, Boeden, Schaedlinge, etc. in Form von
kompakten und uebersichtlichen Tabellen enthaelt.

XXX TODO: Dokumentation!

R10: Ken Fern, "Plants For A Future"
R10: E.F. Schumacher, "Small is Beautiful"
R10: R. Douthwaite, "Short Circuit"

R8: "Where There is No Doctor" / "Where There is No Dentist"
R8: "Engineering in Emergencies"
R8: Gandhi: Autobiography
R8: The Riddle of Amish Culture ISBN 0-8018-6772-X
R8: Food For Free, ISBN 978-0-00-724768-4
R8: D. Holmgren, Permaculture - Principles & Pathways Beyond Sustainability
R8: John Yeoman, "Self Reliance"
R8: John Schaeffer, "The Solar Living Sourcebook"
R8: J. Seymour, The Self Sufficient Life and How To Live It

R7: The Nature and Properties of Soils
R7: R. Hart, Forest Gardening
R7: P. Whitefield, How To Make a Forest Garden

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*** 165,168 ****
--- 165,191 ----
      <span class="small">
      <p>
+ 
+ 
+     This document is a single big question: is my understanding of the
+     core nature of the subject money correct or did I miss some
+     important aspects? If you disagree with my interpretations then I
+     would be very happy to hear your arguments. This document should serve
+     as a working basis for people who are interested in this subject and
+     who would like to participate in creating a sound and understandable
+     explanation of basic questions.<br>
+ 
+     I am certain that the ideas brought forward in this document are not
+     new and a lot of ideas I took from books that I've read. But because I
+     did not find a single concise source of information that would
+     describe all those topics described here and which would in addition
+     set those topics in relation to eachother I decided to write this
+     document. Besides that I dislike the pure qualitative conversational
+     style of most economics literature that I've read and therefore this
+     document tries to explain the ideas in terms of simple mathematical
+     models which are rich enough to give some insight into the questions
+     that arise.
+     <br></SPAN>
+     <SPAN class=link><A class=link target="_blank"
+     href="http://ojts.cvs.sourceforge.net/ojts/MoneyInEconomicSystems/LaTeX/money.pdf?view=log">&gt;&gt;Always the latest version</A></SPAN>
      </p>

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--- money.tex	17 May 2007 08:21:59 -0000	1.7
***************
*** 55,58 ****
--- 55,63 ----
  \usepackage{listings}

+ \usepackage{amsmath}
+ \usepackage{amstext}
+ \usepackage{amsfonts}
+ \usepackage{amssymb}
+ 
  \pagestyle{plain}
  \setlength{\mathindent}{2em}
***************
*** 2080,2098 ****
  results in that direction!

! %% Let's use as the basis for the definition of ``better'' the number of
! %% people that the country can sustain. The more people we are able to
! %% sustain the better our system works. In the above section we've seen
! %% that we can sustain 136 people on 100 units of land if we use an
! %% average value of~$c_2$. As we have 3 pieces of land we can sustain
! %% roughly 408 people.

- %- how many humans can be sustained by a system
- %- how to determine if it is useful to have division of labour?
- %- one product can be used for several production branches
- %- couple a new technology like mining, smithing, ...
  %- couple ``foreign trade'', how to determine exchange rates
  %- how to value a commedian or a journalist?
--- 2085,2328 ----
  results in that direction!

+ %---------------------------------------------------------------------------------------------
+ \subsection{Technological advances}

+ \noindent In this section we analyse how technological
+ advances affect our system. We will introduce coal and ore mining,
+ smelting and smithing as work activities which do not directly or in
+ short term lead to final consumable goods. These processes keep people
+ busy, so that they cannot contribute to the shorter more direct
+ production processes, e.g. the production of goods that are directly
+ needed to support a human life. This means that the technology they
+ produce has to have such an advantage on the more direct production
+ processes that the disadvantage of losing people there is made up by
+ the productive gains.

+ Here are our new production equations:
+ \begin{alignat*}{2}
+ 1\ket{l} + 2000&\ket{co}&&=1\ket{l}+200\ket{d}\\
+ 1\ket{l} + 2000&\ket{o}&&=1\ket{l}+200\ket{d}\\
+ 2000&\ket{i}&&=2000\ket{co}+2000\ket{o}+100\ket{d}\\
+ 5000&\ket{scy}&&=2000\ket{co}+2000\ket{i}+100\ket{d}\\
+ 10000&\ket{sci}&&=2000\ket{co}+2000\ket{i}+100\ket{d}\\
+ 5\ket{l} + 1600&\ket{w}&&=5\ket{l}+200\ket{d}+100\ket{w}+\frac{1}{10}\ket{scy}\\
+ 250&\ket{f}&&=300\ket{w}+40\ket{d}\\
+ 250&\ket{b}&&=250\ket{f}+80\ket{d}\\
+ 2\ket{l} + 40\ket{s} + 200000&\ket{y}&&=2\ket{l} + 40\ket{s} + 200\ket{d}+\frac{1}{10}\ket{sci}\\
+ 20&\ket{c}&&=50000\ket{y}+ 200\ket{d}\\
+ 200&\ket{d}&&=167c_1\ket{b} + 2c_2\cdot\ket{c}
+ \end{alignat*}
+ The first equation is the coal mining equation. The~$1\ket{l}$ in the
+ equation says that we need a piece of land for the coal
+ mine. Obviously not any piece of land is good for coal mining, but the
+ same is true for wheat farming. The second equation represents the ore
+ mining. The next equation describes how iron is made from ore and coal
+ by the smelter. The final two new equations say how to produce scythes
+ and scisors by the smith.

! In the prodution equations for wheat and for yarn we have another
! input that says that we consume one scythe in ten years per person
! active in wheat farming and equivalently that we consume one scisor in
! ten years per person active in sheep farming. In addition in the wheat
! and yarn production processes we use half the worktime as we did
! originally before introducing the new technology.
! %http://heather.cs.ucdavis.edu/~matloff/LaTeX/LookHereFirst.html
! %How to Do This and That with LATEX
! %http://www.math.uiuc.edu/~hildebr/tex/course/intro2.html
! %http://www.mathlab.de/mathematik/latex.html
! %http://www.fs.tum.de/LaTeX/ : LaTeX Kurs script
! \begin{gather*}
! %f,b,d,y,c,co,o,i,scy,sci
! \begin{pmatrix}
! 0&0&-200&0&0&2000&0&0&0&0\\
! 0&0&-200&0&0&0&2000&0&0&0\\
! 0&0&-100&0&0&-2000&-2000&2000&0&0\\
! 0&0&-100&0&0&-2000&0&-2000&5000&0\\
! 0&0&-100&0&0&-2000&0&-2000&0&10000\\
! 0&0&200&0&0&0&0&0&1/10&0\\
! 250&0&-40&0&0&0&0&0&0&0\\
! 250&-250&80&0&0&0&0&0&0&0\\
! 0&0&-200&200k&0&0&0&0&-1/10&0\\
! 0&0&200&50k&-20&0&0&0&0&0
! \end{pmatrix}\cdot
! \begin{pmatrix}
! \ket{f}\\
! \ket{b}\\
! \ket{d}\\
! \ket{y}\\
! \ket{c}\\
! \ket{co}\\
! \ket{o}\\
! \ket{i}\\
! \ket{scy}\\
! \ket{sci}
! \end{pmatrix}=\\
! \begin{pmatrix}
! 0\\
! 0\\
! 0\\
! 0\\
! 0\\
! 1500\\
! 300\\
! 0\\
! 0\\
! 0
! \end{pmatrix}\ket{w}
! \end{gather*}
! The price structure looks as follows:
! $$
! \begin{pmatrix}
! \ket{f}\\
! \ket{b}\\
! \ket{d}\\
! \ket{y}\\
! \ket{c}\\
! \ket{co}\\
! \ket{o}\\
! \ket{i}\\
! \ket{scy}\\
! \ket{sci}
! \end{pmatrix}=
! \begin{pmatrix}
! 2.40\\
! 4.80\\
! 7.50\\
! 0.0075\\
! 93.74\\
! 0.75\\
! 0.75\\
! 1.87\\
! 1.20\\
! 0.60\\
! \end{pmatrix}\ket{m}
! $$
! For the dependency between~$c_1$ and~$c_2$ we have the following
! result:
! $$
! c_1=\frac{-7812625c_2+62500000}{33400668}
! $$
! In figure~\ref{fig-tech-poor-compare} you can see how this consumption
! possibilities compare to the consumption possibilities of the
! original poor society.
! \begin{figure}[htbp]
! \caption{Society with technology compared to the original poor society}
! \label{fig-tech-poor-compare}
! \centerline{\includegraphics[width=10cm,clip=true]{graphics/tech_poor_c1_c2_compare}}
! \end{figure}
! 
! %---------------------------------------------------------------------------------------------
! \subsubsection{Productive structure of the system}
! 
! \noindent As first step as usual we have to look at the $f$-factors of
! the system:
! \begin{eqnarray*}
! f_1&=&f_3+f_4+f_5\\
! f_2&=&f_3\\
! f_3&=&f_4+f_5\\
! 5000f_4&=&\frac{1}{10}f_6\\
! 1500f_6&=&300f_7\\
! f_7&=&f_8\\
! 10000f_5&=&\frac{1}{10}f_9\\
! 200000f_9&=&50000f_{10}\\
! 250f_8&=&167c_1f_{11}\\
! 20f_{10}&=&2c_2f_{11}\\
! 200f_{11}&=&W
! \end{eqnarray*}
! 
! \setcounter{MaxMatrixCols}{20}
! $$
! \begin{pmatrix}
! 1&0&-1&-1&-1&0&0&0&0&0&0\\
! 0&1&-1& 0& 0&0&0&0&0&0&0\\
! 0&0& 1&-1&-1&0&0&0&0&0&0\\
! 0&0&0&5000&0&-0.1&0&0&0&0&0\\
! 0&0&0&0&0&5&-1&0&0&0&0\\
! 0&0&0&0&0&0&1&-1&0&0&0\\
! 0&0&0&0&10000&0&0&0&-0.1&0&0\\
! 0&0&0&0&0&0&0&0&4&-1&0\\
! 0&0&0&0&0&0&0&250&0&0&-167c_1\\
! 0&0&0&0&0&0&0&0&0&20&-2c_2\\
! 0&0&0&0&0&0&0&0&0&0&200\\
! \end{pmatrix}\cdot
! \begin{pmatrix}
! f_{1}\\
! f_{2}\\
! f_{3}\\
! f_{4}\\
! f_{5}\\
! f_{6}\\
! f_{7}\\
! f_{8}\\
! f_{9}\\
! f_{10}\\
! f_{11}
! \end{pmatrix}=
! \begin{pmatrix}
! 0\\
! 0\\
! 0\\
! 0\\
! 0\\
! 0\\
! 0\\
! 0\\
! 0\\
! 0\\
! W
! \end{pmatrix}
! $$
! The resulting $f$-factors are:
! \begin{align*}
! f_1&=(\frac{c_2}{400000000}+\frac{167c_1}{6250000000})W&
! f_2&=(\frac{c_2}{800000000}+\frac{167c_1}{12500000000})W&\\
! f_3&=(\frac{c_2}{800000000}+\frac{167c_1}{12500000000})W&
! f_4&=\frac{167c_1}{12500000000}W&
! f_5&=\frac{   c_2}{  800000000}W\\
! f_6&=\frac{167c_1}{250000}W&
! f_7&=\frac{167c_1}{ 50000}W&
! f_8&=\frac{167c_1}{ 50000}W\\
! f_9&=\frac{c_2}{8000}W&
! f_{10}&=\frac{c_2}{2000}W&
! f_{11}&=\frac{W}{200}
! \end{align*}
! If we take~$c_2=2.36$, because this lies in the middle between its two
! constraints~$1\le c_2\le3.72$, then we have~$c_1=1.32$. If we further
! assume that we have $2\,000\,000$ people in our system then we get the
! following $\omega$-factors measured in man years:
! \begin{align*}
! \omega_1&=16.46&
! \omega_2&=8.23&
! \omega_3&=4.11\\
! \omega_4&=3.52&
! \omega_5&=0.59&
! \omega_6&=352345\\
! \omega_7&=352345&
! \omega_8&=704690&
! \omega_9&=118116\\
! \omega_{10}&=472465&&\\
! \end{align*}
! Because we calculated everything with a time factor of one year this
! is also the number of people who will work in the specific domain. For
! the smithing we have to add~$\omega_4$ and~$\omega_5$ together,
! because both activities have to be performed by a smith.
! 
! You can see that we need a quite large society so that the prolongation
! of the productive structure pays off. 
! 
! At the moment we have only
! assumed that the effort in the ``iron industry'' helps our farmers to
! improve their productivity, but in fact the iron industry is such a
! central improvement to basically all production processes that we can
! imagine that it will also help the miller (e.g. to create a better
! crushing mill), the baker (e.g. to create a better oven) and the
! clothes industry (e.g. to create steel needles and scisors for the
! tailor). This would shift further human work activities away from the
! primary productive structures towards the iron industry which creates
! \textit{capital goods}\footnote{Here I call \textit{capital goods} the
! intermediate products with a long life time that are used in steps of
! the productive chain closer to consumption}.

  %- couple ``foreign trade'', how to determine exchange rates
  %- how to value a commedian or a journalist?

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*** 271,273 ****
--- 271,302 ----
  function(c310,'fnc310,['s1,'Pe])

+ -- ------------------------------------------------------------------------------
+ -- technological advances
+ 
+ detmatTechAdvances := matrix [[0,0,-200,0,0,2000,0,0,0,0,0],[0,0,-200,0,0,0,2000,0,0,0,0],[0,0,-100,0,0,-2000,-2000,2000,0,0,0],[0,0,-100,0,0,-2000,0,-2000,5000,0,0],[0,0,-100,0,0,-2000,0,-2000,0,10000,0],[0,0,200,0,0,0,0,0,1/10,0,-1500],[250,0,-40,0,0,0,0,0,0,0,-300],[250,-250,80,0,0,0,0,0,0,0,0],[0,0,-200,200000,0,0,0,0,-1/10,0,0],[0,0,200,50000,-20,0,0,0,0,0,0],[0,167 * c1,-200,0,2 * c2,0,0,0,0,0,0]]
+ eqTechAdvances := determinant detmatTechAdvances
+ S := solve(eqTechAdvances,c1)
+ fc2 == rhs(S.1)
+ function(fc2,'fnc2,['c2])
+ sc2 := solve(fc2=1)
+ sc2 :: List Equation Polynomial Float
+ 
+ 
+ matTechAdvances := matrix [[0,0,-200,0,0,2000,0,0,0,0],[0,0,-200,0,0,0,2000,0,0,0],[0,0,-100,0,0,-2000,-2000,2000,0,0],[0,0,-100,0,0,-2000,0,-2000,5000,0],[0,0,-100,0,0,-2000,0,-2000,0,10000],[0,0,200,0,0,0,0,0,1/10,0],[250,0,-40,0,0,0,0,0,0,0],[250,-250,80,0,0,0,0,0,0,0],[0,0,-200,200000,0,0,0,0,-1/10,0],[0,0,200,50000,-20,0,0,0,0,0]]
+ invmatTechAdvances := inverse matTechAdvances
+ vecTechAdvances := vector [0,0,0,0,0,1500,300,0,0,0]
+ (invmatTechAdvances * vecTechAdvances ) :: Vector Fraction Integer :: Vector Float
+ 
+ fmatTechAdvances := matrix [[1,0,-1,-1,-1,0,0,0,0,0,0],[0,1,-1, 0, 0,0,0,0,0,0,0],[0,0, 1,-1,-1,0,0,0,0,0,0],[0,0,0,5000,0,1/10,0,0,0,0,0],[0,0,0,0,0,5,-1,0,0,0,0],[0,0,0,0,0,0,1,-1,0,0,0],[0,0,0,0,10000,0,0,0,1/10,0,0],[0,0,0,0,0,0,0,0,4,-1,0],[0,0,0,0,0,0,0,250,0,0,-167*c1],[0,0,0,0,0,0,0,0,0,20,-2*c2],[0,0,0,0,0,0,0,0,0,0,200]]
+ invfmatTechAdvances := inverse fmatTechAdvances
+ fvecFoodClothes := vector [0,0,0,0,0,0,0,0,0,0,W]
+ Sf := invfmatTechAdvances * fvecFoodClothes
+ 
+ c20 := (rhs(sc2.1)+1.0)/2.0
+ c10 := fnc2(c20)
+ 
+ wvector := diagonalMatrix [200,200,100,100,100,200,40,80,200,200,1] * fnsf(c10,c20,200.0*500000)
+ 
+ 
  \end{axiom}
+ 

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retrieving revision 1.2
diff -C2 -d -r1.1 -r1.2
*** tech_poor_c1_c2_compare.eps	17 May 2007 06:10:43 -0000	1.1
--- tech_poor_c1_c2_compare.eps	17 May 2007 08:21:59 -0000	1.2
***************
*** 934,935 ****
--- 934,937 ----
  end
  showpage
+ %%Trailer
+ %%DocumentFonts: Helvetica

Update of /cvsroot/ojts/MoneyInEconomicSystems/LaTeX/graphics
In directory sc8-pr-cvs3.sourceforge.net:/tmp/cvs-serv30276

Added Files:
	tech_poor_c1_c2_compare.eps tech_poor_c1_c2_compare.pdf 
	tech_poor_c1_c2_compare.plt 
Log Message:
no message

--- NEW FILE: tech_poor_c1_c2_compare.pdf ---
(This appears to be a binary file; contents omitted.)

--- NEW FILE: tech_poor_c1_c2_compare.plt ---

set xlabel "c2"
set ylabel "c1"
set xrange [1:3.8]
set yrange [0.9:]

#set term postscript enhanced eps color
#set output 'tech_poor_c1_c2_compare.eps'

plot (-7812625*x+62500000)/33400668 title "c1 tech",  (500-75*x)/334 title "c1 poor", 1 title "limit"

--- NEW FILE: tech_poor_c1_c2_compare.eps ---
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