Regarding the Jubilee idea, it’s fundamental to our survival, given the underlying beliefs we have: memes. In a way wealth accumulation will manifest in revenue generating asset accumulation. (not a problem if we had a free market) That wealth eventually concentrates in the hands of super minority facilitated by memes that allow monopolies to exist. The Jubilee is just a reset that keeps the order and prevents unrest.
In Adam Smith’s wealth of nations “I had to read it as part of Bitcoin introduction 101” he points out that the land lord is the ultimate benefactor of all progress. I don’t think he ever imagined a world where there was no more land for those pioneers who would want to start a new homestead to up and go. I think he thought land lords could never own the planet. Paraphrasing Smith, he says all value created by anyone in the economy will ultimately go to the land lords.
James D'Angelo presented an idea called Sno-Caps - The People's Cap-And-Trade
I don’t like the idea of trading carbon credits but his idea addresses a far more fundamental concept. And it’s the same fundamental concept behind the need for a Jubilee. It starts with a meme that land is property. Imagine we had a similar crypto ledger where every human alive had an equal right to land, and they could rent it on the free market. Value created in the economy would go to the value creators and avoid the land tax of landlords. instead it would be a social compensation or the new Jubilee. for those displeased by the monopolistic use of land.
Property has many cultural definitions: it is stuff that burns, or stuff you can steel or stuff you can move, stuff you can take with you. But land as property is a dominant meme that has reshaped the planet.
As a matter of fact land is only ever rented by the living. Some of the living have a birthright to tax the rest of humanity for rent, and this is causes a fundamental imbalance in the free market economics, (not that you own your house you hardly do given all the tax you need to pay and someone else own most of the mineral rights etc.) This creates problems, something a Jubilee solves, it allows the owners of the ultimate revenue generating asset to reset to keep the peace so they can carry on.
In Adam Smith’s wealth of nations “I had to read it as part of Bitcoin introduction 101” he points out that the land lord is the ultimate benefactor of all progress. I don’t think he ever imagined a world where there was no more land for those pioneers who would want to start a new homestead to up and go. I think he thought land lords could never own the planet. Paraphrasing Smith, he says all value created by anyone in the economy will ultimately go to the land lords.
James D'Angelo presented an idea called Sno-Caps - The People's Cap-And-Trade
I don’t like the idea of trading carbon credits but his idea addresses a far more fundamental concept. And it’s the same fundamental concept behind the need for a Jubilee. It starts with a meme that land is property. Imagine we had a similar crypto ledger where every human alive had an equal right to land, and they could rent it on the free market. Value created in the economy would go to the value creators and avoid the land tax of landlords. instead it would be a social compensation or the new Jubilee. for those displeased by the monopolistic use of land.
Property has many cultural definitions: it is stuff that burns, or stuff you can steel or stuff you can move, stuff you can take with you. But land as property is a dominant meme that has reshaped the planet.
As a matter of fact land is only ever rented by the living. Some of the living have a birthright to tax the rest of humanity for rent, and this is causes a fundamental imbalance in the free market economics, (not that you own your house you hardly do given all the tax you need to pay and someone else own most of the mineral rights etc.) This creates problems, something a Jubilee solves, it allows the owners of the ultimate revenue generating asset to reset to keep the peace so they can carry on.
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