How is an honest economy possible?? <Brainstorming Anyone?>

[abhay81]

What is an economy?

Additional challenge : Can anyone explain in maximum 42 words??

[Foxpup]

An economy is "the complex of human activities undertaken for profit and concerned with the production, distribution, and consumption of goods and services"*. Honest economy is not possible, as only an individual can be honest, and an economy consists of many people.

*Collins English Dictionary

[Vandroiy]

You can optimize the rules of an economy to favor honesty though.

But that would require intelligent and cooperative people who write the laws... good luck with that. That's where pretty much any "better society/economy/politics" plan fails.

How would one possibly set it up? Dictators go mad, democracies turn politics into show-business, and I can't think of any other method that would qualify. Once you're done with a superior plan on paper, there's nothing useful you can do with it. Decorate a wall maybe.

Supporting honesty is as easy as punishing deceit. If people punish the dishonest -- and those who assist in dishonesty or refrain from punishing it -- there's little choice except being honest or getting punished. IMO, punishing the breaking of contracts is sufficient, given reasonable arbitrators on the contracts' meanings.

[Mike Christ]

You'll have an honest economy amongst a society of secular, rational actors, as they understand why honesty is always the most efficient, productive and humane approach.  We do not currently have this, and likely won't for a while (but not much longer compared to the history of humankind); to achieve this, children must be raised properly and by the secular, rational actors, who become themselves secular and rational and continue such a cycle of parenting until they're a majority; at this point, it's a downhill ride, with no point of return to superstition and millennia-old institutions.

This is the only way you can achieve an honest economy: through its participants.  No system which relies on threats of violence can ever impart reason or intelligence upon its recipients; otherwise, those reasonable and intelligent people would decide to no longer take part, and the ones who choose to subject themselves and others anyway are not following any sort of rational method.  In other words, you must look at it from a bottom-up position--as economies are heavily influenced, and by a degree comparable to a speck of dust with a bowling ball, by the individuals, not the regulators--to see a plausible method of changing this, rather than the usual top-down position through passing laws to curb behavior.

[shawshankinmate37927]

What is an economy?

Additional challenge : Can anyone explain in maximum 42 words??

An economy is a system that allows for the exchange of goods and services.  An honest economy requires an honest monetary system at its foundation, which requires a separation of money and state.  That's where Bitcoin comes in.

[etm]

It would be possible if 100 percent of the people were of good heart. 100%.

[hostmaster]

the balance bet ween demand and offer

[abhay81]

Thank you for giving me your insights...

I believe banking is a necessary evil...banking is a judgement call

therefore to have honest banking...the bankers judgement should be tested...their honesty should be under constant check

as it is a judgement call...Judgement is a tool to be continuously tested...It's testing helps us end up with a sharper judgement...

I believe we could bank on BTC what do you think??

[abhay81]

The moment honesty were to happen even remotely, the world economy would implode with it's current health.

great insight...

but if we could filter out those who may judge other's credibility and

we have a credit system that dissolves with time...

and a currency that is used only for doing a good deal of work...


we could 23 the system and filter out people like Mr. Morgan in-the-case he is actually involved in BTC scamming...


I ask those who are working on the current Bitcoin software...would you like to add another extension to the Bitcoin protocol if it were to add value to the Bitcoin system??

[Wilikon]

All transactions from the Taxes/Gov on a ledger. Even black projects Area 51 style (but obviously black so no one would know). People would be more in touched with where their taxes are going, if they are moving or not, etc.

That could be a small step. 

[dank]

The only true way to create an honest economy is to remove greed as a factor.  The way to do this is to abandon money.  When money is absent, we will find ourselves with a society based around love rather than greed.  All work would be done through volunteerism.  People will think "How can I help the most people," rather than, "How can I make the most money."  This would result in the most efficient economy possible, for everyone will be competing to provide the most positive impact on humanity for the return of the most positive energy, or peace, happiness.  The more people you help for free, the more peace you will feel.

Without a medium like money to facilitate greed, large superficial industries built around taking rather than giving would be erased, leaving large amounts of manpower and resources to be applied towards creating rather than destroying.

Without money, we would effectively end wars, poverty and famine.  We would end tyranny and all forms of corruption with time.  Knowledge would be shared for the betterment of humanity rather than hoarded for the betterment of individuals.

Without money, we would see the largest evolutionary leap man has yet to see.  Without money, our planet would ascend to a new level of existence.  Without money, we would have world peace.  Without money, we would attain heaven.

[abhay81]

@(dank) - Brilliant answer...

you're almost there...

money is a very hot & cold good...

Not to be played with but to be cared for...she helps us understand our nature as a collective whole

She should not be judged by you because she is not understood by you...


@(wilikon) - You're talking about a political change...

To process a political block...

Either a lot of processing power is required...

or a system shows proof it works...

transparently when they are aware and alert about the developments...

        there is the choice to ignore it...

and

        there is the choice to accept it...

but you see money is a very hot & cold Good...

You have to be deserving of it...

else she burns you down.

[countryfree]

Easy, an honest economy is one without a state acting like the mafia, taking a cut of all transactions. An honest economy would also probably require a single currency, and no transactions done outside of this currency. I find it shocking that besides salaries, the larger companies point out the advantages they give to their employees (extra comprehensive medical insurance, company car...), and the smaller businesses just cannot compete with that.

[abhay81]

What if we develop and leave open for checking in front of the media

a bitcoin protocol that'd give us an economic system that ensures good growth

and has a decentralized and human dependent check on greedy growth...

and deflation of your value is a conscious chioce...

The currency is so stable because there is

 a loss of value if any wrong doing is attempted

 Growth in value or stability

 A check on Judgement regarding investments

 Encourages investing or lending and supports work done in BTC

 BTC should become stable then...It is Virtual Gold

 not virtual currency...It can definitely not become physical currency if it remains

 unstable virtual gold...