Earned Lifehours

Listing

Within Timism, the goal is to have all lifehours earned as opposed to unearned. The history of income is that

1. as the rate of unearned income increases, that is, people are overpaid in the symbols of time relative to the real substance of time-creating problem-solving,
2. the number of problem-solvers decreases as the best and brightest seek income from either ignoring or causing problems.

This relationship echos Gresham's law , an economic observation that bad money will drive good money out of an economy. Since time is money and money is time, Gresham's Law really means that overpaid people will drive underpaid people out of living until the economic system collapses. More generally, universally, and timistically, Gresham's Law is an economic example of a cancer: Part of the system consumes more than it produces until the system dies.

Given the democratic mechanism at all levels of better democracy and capitalism--global, national, state and local--it is up to the polity to determine how much money they want to be stolen through unearned transfers of time symbols. If you have optimal democracy you will have optimal capitalism--timistic twins. As democracy brings out the best in people so does capitalism bring out the best in profits. With democracy per diem one has capitalism per capita.

One need only look at the shift in ownership of America (graph) to see the impact of unearned income. The tragedies of unearned income visited upon the middle-class workers are their own fault, for "All play and no politics makes Jack and Jill broke taxpayers with no jobs, healthcare or retirement."

Notes