Note: The EMC is an entirely new project that was started a week ago or so. We’re at the moment in the phase where we are brainstorming by answering questions. It’s a messy process – but an effective one to get all the relevant points addressed. So – also note that points will evolve and change as we go as we are not setting things in stone, but on a journey towards designing the EMC. The principles upon which EMC is based are laid out in the previous blog-posts. From those principles, we work our way towards what life in EMC would practically be like and how the system will function from an economic perspective.
Q: If all debt is relieved, won’t there all of a sudden be a large group with no jobs all at once”
A: Those who may find themselves in a position of unemployment as the result of Complete Debt Forgiveness will either be integrated into other companies - or government will provide them with new jobs. Preferably, these types of outflows would have to be considered before implementation to ensure smooth transitioning from one system to the next – and would thus have to be calculated and planned prior to full implementation.
Q: Will people be able to choose in which countries they will live?
A: Yes – though in the end, every location will be supported and equipped equally in terms of infrastructure to ensure an equal standard of living in every location / country. This in itself will minimize the amount of migration as migration currently is mostly based on economic reasons.
What happens with Deficits / Surpluses?
Q: Since a person’s income is dependent on the profit from products being purchased, if the products are not purchased enough to give them sufficient income, do they get supported from compassion department, while it gets sorted out?
A: Yes, those companies that are very successful and sell more than they require paying out everyone with the same income will transfer their funds into a centralized bank. The bank will then utilise these surpluses to momentarily subsidize those companies who are running a deficit. The fact that they are running a deficit may indicate a point of ineffectiveness within those companies which may be corrected. When deficits are identified - someone will be sent to intervene and evaluate the situation. The company with deficit will receive training from similar companies who have proven to be effective and successful, so they may learn from their methods and techniques and become equally effective.
Q: So this will be a top-down system like today's?
A: No - because the top is the bottom - direct democracy means that the people rule. Equal Money Capitalism’s political process will be the same as the process outlined within the Equal Money System – which is a form of Direct Participation. You can read more about the Political Nature of both Equal Money Systems here.
Payments for Non-Products?
Q: How do people earn an income from jobs that don't produce a product that is purchased, or will everyone need to do a job that produces something to be bought? or does compensation also happen as paid from the government not just consumers purchasing products?
A: Yes - any value that is added - whether to a product or not - will be compensated. So - for government services - you simply do your hours and receive an equal income like everyone else. Whenever you purchase a product or a service – you are always paying for the labour involved, as such there is no difference when paying for a product versus paying for a service.