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  • Flaw in current economic model

    From AbhiJeet Patil@21:1/5 to All on Wed May 23 14:22:26 2018
    Wah Wah Wah ! Scarlett Johansson is so dashing and beautiful in Black Widow character.

    "I PROMISE TO PAY BEARER OF THIS NOTE 24,000 SECONDS OF MY WORK". I signed note (what you call money) and gave it to Scarlett. Scarlett deposited this note in bank. Thanos - the banker - assured Scarlett that she will get 9% interest on this note. That
    means 26,160 seconds of work.

    Next day Thanos phoned me to do his work. I made Pizza whole day i.e for 24,000 seconds (6 hours 40 minutes). Thanos paid me THAT 24,000 seconds.

    Next day, Thanos phoned me, "hey, do you want pizza? I have very tasty pizza worth 26,160 seconds." I have a short term memory problems. I had forgotten that I had made same pizza for 24,000 seconds. Anyway I ate the pizza and wrote another note.

    "I PROMISE TO PAY BEARER OF THIS NOTE 26,160 SECONDS OF MY WORK"

    Thanos deposited this note in account of Scarlett. Scarlett got 9% interest on her SAVINGS account.

    Thanos kept repeating his trick and after 7 years, he had made me to write note of 48,000 seconds. Scarlett had doubled her 24,000 seconds to 48,000 seconds. She came to me and asked me to clean her house for 2 days. I objected. I reminded her that I had
    given her only 24000 seconds i e one day. She showed me my note of 48,000 seconds.

    "Yeh dekh, tune hi sign kiya hai"

    Jaadu. That is economic development of nation through banking system..

    Thanos?

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  • From AbhiJeet Patil@21:1/5 to All on Fri May 25 09:41:01 2018
    Economy of 5 people-

    A is farmer who can produce food for 4 other people and himself.
    B is a cloth producer who can produce clothes for 4 other people and himself.
    C is a builder who can build houses for 4 other people and himself.
    D is a electrical engineer who can produce electricity for 4 other people and himself.
    E is a security guard who can protect 4 people and himself from wild animals.

    Each one of these five people work for 24,000 secs everyday. Each one pays 6,000 secs to other 4 people everyday. So everyday none of these five people has any balance left in their e-wallet. But remember, everybody works everyday.

    One day E - the security guard - declares that he doesn't need electricity and he stops paying 6,000 secs to the electrical engineer D. Rumours in gallexy are that E tried to save 6,000 secs. Some say that as he was living in jungle to protect these 4
    people, he really didn't need electricity.

    Anyway, D's income was reduced to 18,000 secs. As he thought that security is must, he pays 6,000 secs to E, but he stops paying 6,000 to C - the house builder. So income of C is reduced to 18,000 secs. C thinks that electricity is not necessary, so he
    stops paying 6,000 secs to D. Now income of D is reduced to 12,000 secs. He can pay only 2 people. He chooses food (A) and security (E) and stops paying 6,000 secs to B - the clothes producer. Income of B declines to 18,000 secs. So B stops paying 6,000
    secs to D. Now income of D is reduced to 6,000 secs. But he is so scared of tigers that he decides not to pay for food to A. Income of A falls to 18,000 secs. So A stops paying 6,000 secs to D.

    Now D don't have any income. He leaves the society and moves out to go somewhere.

    After few days, E - the security guard - comes to C - the house builder - and tells C that he doesn't need house. So he won't pay 6,000 secs to C. The chain reaction repeats and C also moves out.

    Then E targets B - the clothes producer. B also moves out. Finally, E tells A - the farmer - that he doesn't need his food. The farmer loses his last income also. So the E asks farmer to abandon farming and move out with him in jungle.

    So it was either "saving" or "I don't need you" attitude of E - the security guard - which destroyed economy of this society.

    "Saving" and "interest, profit" things are dangerous for the economy i.e prosperity of society.

    https://mobile.nytimes.com/2012/01/15/business/consumer-spending-as-an-american-virtue.html

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