Time factor economy
The time factor economy describes an economic system in which both taxes and salaries are in proportion to working hours . The theoretical basis is the labor theory of value . This fact distinguishes the time factor economy from most other economic systems, in which other factors than the time of the tax calculation are based. The system has recently been thoroughly described by the Swedish inventor Karl Gustafson, but the social reformer Silvio Gesell already thought about a time factor-based economic system. In 1976 , the Swedish People's Party member Anders Gernandt introduced a motion to the Swedish Reichstag to introduce a "time tax".
overview
Time factor economics is based on the assumption that today's economic systems relate to circumstances that are not favorable for everyone, and that the disadvantages of these systems could be eliminated if the economy were based on the laws of nature . The injustices of today's systems are based - according to the principles of the time factor economy - on the fact that today there are no fixed rules as to how the economy is to be administered or how the value of things should be determined. The time factor economy sticks to time as an objective constant, the extent of which cannot be regulated or influenced by political decisions , and assumes that this constant is the fairest basis of any economic system.
purpose
The time factor economy aims to replace the interest system with fees set up for work that is calculated in time . In a time factor economy, capital can never be increased in the course of time without a work corresponding to the increase having been carried out. The goal of time factor economics is to tie the capital value to a natural constant, in the same way that volume and mass are defined in fixed units today. This would make fraud and speculation more difficult.
Criticism against the time factor economy
There is almost no reception of this concept in economics. The time factor economy has been criticized for being too theoretical and for assuming that all people have taxable work.
literature
- Hermann Benjes: Who's Afraid of Silvio Gesell? The end of the interest economy brings work, prosperity and peace for everyone. 8th edition. Benjes, Asendorf 2007, ISBN 3-00-000204-9
- Karl Gustafson: Deus ex machina. Antropiska förlaget, (Sweden) 2006, ISBN 91-630-7563-0