Welcome to General Chat - GAW Community Area
This General Chat area started off as a place for people to talk about things that are off topic, however it has quickly evolved into a community and has become an integral part of the GAW experience for many of us.
Based on its evolving needs and plenty of user feedback, we are trying to bring some order and institute some rules. Please make sure you read these rules and participate in the spirit of this community.
Rules for General Chat
-
Be respectful to each other. This is of utmost importance, and comments may be removed if deemed not respectful.
-
Avoid long drawn out arguments. This should be a place to relax, not to waste your time needlessly.
-
Personal anecdotes, puzzles, cute pics/clips - everything welcome
-
Please do not spam at the top level. If you have a lot to post each day, try and post them all together in one top level comment
-
Try keep things light. If you are bringing in deep stuff, try not to go overboard.
-
Things that are clearly on-topic for this board should be posted as a separate post and not here (except if you are new and still getting the feel of this place)
-
If you find people violating these rules, deport them rather than start a argument here.
-
Feel free to give feedback as these rules are expected to keep evoloving
In short, imagine this thread to be a local community hall where we all gather and chat daily. Please be respectful to others in the same way
continued ...
so to answer your question in simple terms, by making the currency based only on the labor and not by gold etc, the economy will lack the liquidity that is necessary to fulfil its role - to allow people to exchange labor and resources. The same dollar has to compete for somebody's labor and also for someone's gold.
This is essentially the opposite of printing too much currency. You are now printing too little currency and will result in deflation (instead of inflation)
“Only on labor…”
…and what if you are retired? Or injured. Or lazy but good at bartering and trade. What if you write poetry or draw or paint?
Who decides what labor is? Or how long something should take to produce (to get paid)? Sounds like a camel nose under the “control tent” to me.
Ahem…sorry to butt into your convo. I hadn’t heard this theory and (assuming I’m understanding correctly) it started up my noodle. Thx for the explanation.
btw, this comment was a continuation. You have to read the previous comment as well.
Thats my point. Did you read the full sentence?
Yes, t/u. Very interesting.