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Wildcat2030 wildcat

Pop-Up Human Capital: A New Employment Model? | Endless Innovation | Big Think - 1 views

bigthink.com/42032

human capital employment model

shared by Wildcat2030 wildcat on 19 Jan 12 - No Cached
  • Wildcat2030 wildcat on 19 Jan 12
     
    "Around the world, it's becoming easier than ever to sell your human capital - the sum total of your knowledge, experiences and talents - to the highest bidder. Using new P2P marketplaces like Sidetour and Gidsy, you can sell a lifetime's worth of experiences and memories the same way you might sell a pair of used shoes. Using educational marketplaces like Skillshare, you can sell your esoteric knowledge to people with an interest in a specific topic. And by taking advantage of sites like TaskRabbit, it's easier than ever to earn quick bucks for completing mundane tasks for people who live near you. In major cities from New York to San Francisco to Berlin, the pop-up human capital store is fast becoming a reality. Douglas Rushkoff even suggests that this "more freelance, direct P2P means of exchange is going to replace what we thought of as employment.""
Kurt Laitner

Asia Times Online :: Asian news and current affairs - 0 views

www.atimes.com/...ML22Dj03.html

*money history of *chrisjcook profit to payer

shared by Kurt Laitner on 21 Dec 11 - No Cached
  • private banks create credit on the basis of a cushion of capital specified by the Bank of International Settlements in Basel, and this credit created out of thin air is exchanged for interest-bearing Treasury debt
  • The only constraint on credit creation is now the capital cushion that banks must hold to cover defaults by borrowers and operating costs
  • Tax has never in 800 years in the UK been collected and then spent
  • ...10 more annotations...
  • The truth of it is that tax-payers' money has never been anywhere near a tax-payer
  • fund that expenditure through the unnecessary issue and sale of interest-bearing debt to private banks, and through taxation
  • Public spending on credit came first, and when stock was returned in payment of taxation this credit/money was retired.
  • I believe that the collapse of Lehman Brothers in October 2008 will come to be seen as the definitive end of the centralized, but connected, Economy 2.0 paradigm operated by and for the profit of middlemen.
  • there has been a parallel series of innovations in legal vehicles for investment in productive assets, involving trust law and partnership law, rather than company law
  • In my home turf of the oil market, all the signs are that in the absence of massive new flows of quantitative easing dollars from the Federal Reserve, and/or substantial cuts in oil production, especially from members of the Organization of the Petroleum Exporting Countries, there will be a collapse in oil market prices in the first quarter of 2012. Indeed, some market participants have already taken option positions in the oil market in anticipation (or in fear) of a fall in the oil price as low as $45 per barrel in 2012.
  • Owners of productive assets simply create and issue undated credits/units that are redeemable in payment for the use of the asset. For example $1.00's worth of rental revenues pre-sold for 80 cents will give an absolute return of 25%, but the rate of return depends - literally - upon the rate at which units of stock may be returned to the issuer and redeemed against use.
  • users of productive assets such as occupiers will always buy stock at a price less than face value in order to redeem it against use.
  • My vision of a 21st century "Open Capitalism" is of new forms of stock based upon land rentals which will come to be what are essentially networked land-based national currencies created literally from the ground up.
  • Open capital - Stock may in fact be seen as currency sold forward at a wholesale discount
Kurt Laitner

Learning from Microfinance's Woes - Randall Kempner - Harvard Business Review - 1 views

blogs.hbr.org/...g_from_microfinances_wo_1.html

shared by Kurt Laitner on 28 Feb 12 - No Cached
  • lead to situations where people rob from each other to pay off their debts.
    • Kurt Laitner
      Kurt Laitner on 28 Feb 12
       
      sounds like capitalism
Kurt Laitner

The End of Money and the Future of Civilization | Reality Sandwich - 3 views

www.realitysandwich.com/end_money_future_civilization

shared by Kurt Laitner on 31 Jan 10 - No Cached
  • separation of money and the state
  • Legal tender laws and banking regulations endow the banking cartel with the exclusive power to issue money (as debt), which we are forced to use (through legal tender laws)
  • money evolved as a reaction to the inconveniences of barter.
    • frank smith
      frank smith on 31 Jan 10
       
      Money is not value, it is a symbol of value.
  • ...40 more annotations...
  • Money is a sub-set of exchange, a period in the evolution of exchange systems where exchange was mediated by value representations, either in the form of tangible commodities or instruments of various degrees of abstraction.
  • Exchange is not reducible to money and so when the history of money is abstracted from the history of exchange it appears to be linear, starting with commodity money, evolving through symbolic money, credit money and towards some kind of credit clearing system that Greco says is the highest stage of money.
  • tying knots
  • Nature itself provides all sorts of feedback mechanisms to regulate and control exchange but what is unique about human exchange is that humans developed their own systems to regulate and control it
  • mental
  • clay tablets
  • Exchange is a property of life on earth and not something special or unique to humans
  • tally sticks
  • notched bones
  • earlier form of the mutual credit clearing process
  • an abstract and portable representation of the real values that were being exchanged
  • The problem with "stuff" money is that it can be appropriated
  • It has to be created, distributed and controlled, and these functions always fell into the hands of the powerful who used it to increase their power over the rest of society
  • Today the money power is all-powerful, rendering national governments insignificant
  • Where bank credit is used the monetary output has to be greater than the monetary input because interest has to be paid on top of the principal amount borrowed. Since the difference between the output and the input was not created at loan time, the deficit can only come from further borrowing down the line.
  • This keeps the system in equilibrium as the full proceeds of production go to the producers and are not siphoned off by a parasitic class who play no part in the production/distribution process. The removal of interest from the equation not only removes the parasites, it also removes the expansionary imperative.
  • Greco is not talking about a complementary currency here, but an entirely new exchange system that excludes the financial industry as we know it, central banking, fractional-reserve banking, the political money nexus and everything else that flows from removing the concept of interest from the concept of money.
  • would nation states make sense any more? Currently nations map to the areas where their currencies operate
    • Kurt Laitner
      Kurt Laitner on 31 Jan 10
       
      this is somewhat simplistic, not sure it is this simple, but nations are under threat to be sure, not from currency but from a shift from capital to mind as the source of power
    • frank smith
      frank smith on 31 Jan 10
       
      Yep that's the real relevant shift.
  • the lack of an operational measure of value
  • This means the decentralization and democratization of the exchange process.
    • Kurt Laitner
      Kurt Laitner on 31 Jan 10
       
      and what of taxation, and our current land based existence?
  • Attempts to undermine that basis would result in class warfare in the form of "currency wars." The ruling class would appeal to its allies in government to quash any attempts to "undermine the economy."
  • In an information-based exchange system when there is a transfer of value from a seller to a buyer there is no agreement between the two and no direct obligation on the part of the buyer to the seller.
  • Another way of putting it is that traders must agree to sell in order to buy and buy in order to sell. Everyone has an obligation to the community to keep their mean balance as close to zero as possible. Clearing is the process of ensuring that balances remain at or near to zero.
    • Kurt Laitner
      Kurt Laitner on 31 Jan 10
       
      hmm interesting, not sure I agree, this enforces consumption, value should flow freely and is truly 'social' what does default look like in this situation, is this not a 'banking' function to constrain negative value from becoming more than a party can 'afford', not a zero balance necessarily.. more thought needed
  • As there is no credit in an information-based exchange system and certainly no physical currency, the term "issue" has no meaning as well.
    • Kurt Laitner
      Kurt Laitner on 31 Jan 10
       
      no, the issuer is just changed to the community
    • Kurt Laitner
      Kurt Laitner on 31 Jan 10
       
      not really buying the straight exchange thing as some will always produce more than they consume, some consumer more than they produce and some will be eve
  • Information can neither be issued nor can it circulate
    • Kurt Laitner
      Kurt Laitner on 31 Jan 10
       
      this is interesting, but I'm not sure if denying circulation is a good idea, having the ability to 'transfer balances' may be useful
  • When the exchange system does not have any tangible or symbolic representations of value (i.e. money) but only keeps records of the transfers of value, the concept of "payment" is rendered meaningless
    • Kurt Laitner
      Kurt Laitner on 31 Jan 10
       
      if i open my mind this far, my brain might fall out
  • The "payment" here is the settlement of a social obligation, not a direct transfer of value to the seller in recompense.
    • Kurt Laitner
      Kurt Laitner on 31 Jan 10
       
      seeems to be standing on his/her head semantically for no apparent benefit
  • who enters the transactions into the system (records them on the computer)?
    • Kurt Laitner
      Kurt Laitner on 31 Jan 10
       
      the computer of course
  • Sellers entering transactions is about as revolutionary as mutual credit clearing itself,
    • Kurt Laitner
      Kurt Laitner on 31 Jan 10
       
      UoweMe instead of IOU? revolutionary? hmm
  • bad debts
    • Kurt Laitner
      Kurt Laitner on 31 Jan 10
       
      how does it rid of us bad debt? the debt becomes mutually insured if you will but can still be unpaid by the particular counter parties
  • As buyers of labour, employers are greatly empowered by the fact that they control the supply of money in their businesses
  • When "employees" are enabled to credit themselves and debit their "employers" they are no longer part of a "workforce" but independent service providers with livelihoods.
    • Kurt Laitner
      Kurt Laitner on 31 Jan 10
       
      actually, there are no 'employees' and no 'employers' as these imply durable relationships and a certain measure of exclusivity, both durability and exclusivity will be far more rare
  • The Next Big Thing in Business: A Complete Web-Based Trading Platform
    • Kurt Laitner
      Kurt Laitner on 31 Jan 10
       
      HALLELUJAH BROTHER AMEN
  • the money system of today was developed and adapted for the industrial age. It has always been able to generate practically unlimited amounts of credit, especially after it was delinked from limited precious metals.
  • It has also been able to produce more credit than is necessary for normal trading in order to cover the interest requirement.
    • Kurt Laitner
      Kurt Laitner on 31 Jan 10
       
      this added layer of leverage is in fact the problem
  • Growth has been possible while there has been the energy to power the growth, but as we enter the downward slope of the peak oil bell-shape and growth becomes more difficult, so it will become increasingly difficult to service the interest requirement. Because interest is contingent on growth, you could say that the "production" of credit also has a bell shape and maps on top of the energy production bell shape. We have thus reached "peak credit'"and "peak interest." This is a dangerous contradiction for a money system that can only work on the upward slope of the energy production curve.
    • Kurt Laitner
      Kurt Laitner on 31 Jan 10
       
      don't quite buy this energy -> growth -> interest -> credit argument
  • Until the computer revolution and the advent of the Internet it simply was not possible to have a purely information-based exchange system
    • Kurt Laitner
      Kurt Laitner on 31 Jan 10
       
      key point
  • To be successful it requires four basic components: A marketplace A social network A means of payment A measure of value or pricing unit
  • We are not provided with any clues about how this can be achieved, but it is unlikely to be provided by any of the "big players" today or a new startup until one of them is prepared to provide the service without expecting any reward in conventional money.
    • Kurt Laitner
      Kurt Laitner on 31 Jan 10
       
      bingo
    • frank smith
      frank smith on 31 Jan 10
       
      I like unconventional...
  • This will require a huge leap of faith because the provider will have to believe that its rewards will come from providing the service alone and not from extraneous sources.
    • Kurt Laitner
      Kurt Laitner on 31 Jan 10
       
      amen
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