The Time Exchange
A Non-Monetary Economic System
The Winkle Institute of Economic Stability
Everyone says that they want equality but they lie through their teeth when they do. I work harder than so and so. I work longer than so and so. I’m smarter, faster, more efficient than, better looking, sexier, skinnier, taller, handsomer, luckier, etc. than anybody in the world, so why am I morally broke?
The great equalizer in this universe is time. We can’t make any more of it. We can’t save it. We can’t profit from it. We can share it. We can lose it. We can lose track of it. We can kill it. We can spend it. We cannot add one more second to our lives than God gives us.
Time is not money, nor is money time. Time is infinitely more valuable than anything in this universe. The Holy Bible tells us that there is a time for everything, including love.
How we spend our time makes us richer or poorer: physically, mentally, spiritually, psychologically, and socially; and determines how we spend eternity, which is a whole lot more time.
How the economic system of the Time Exchange would work:
a. Pick any start date you like to convert to the Time Exchange Economic System.
b. Accumulate the data of the average monetary wage over the past year worldwide. Example: The International Labor Organization states that the average hourly wage per person around the world in 2010 was $18.59 per hour.
c. Figure the average hourly wage per person on the planet Earth (this will be more difficult than it seems as some countries don’t keep good records).
d. This average hourly wage would be the baseline for survival.
e. Each living person would be allotted this hourly wage for a forty hour week’s work.
f. Those whom are incapacitated, mentally ill, physically ill, and under the age of eighteen, over the age of sixty five, in college earning a degree of higher learning, would be exempt from the forty hour work week.
f (1) Students that are actively pursuing a degree in higher learning would be exempt from the forty hour work week for six months from the date of their graduation. After the six month period has ended, they must either work in their chosen profession as apprentices or helpers, or work in a community service capacity.
g. Upon acceptance of the Non-Monetary System of Time Exchange, all monetary debt, capital, wealth, etc. shall vanish into thin air just as if it never existed.
h. No one will owe another for anything. All paper currency, all coinage, all metals, and all other assets of any kind shall be valued as nil.
i. For working in their chosen profession, each adult will receive on an account with their government or an international clearinghouse of records, an amount of time credits equal to their contribution to society. Those who chose occupations which require longer periods of education, or place the person in direct or indirect harm of bodily injury or death shall receive a time credit equal to 50 hours per week, plus any time over that length of time at the rate of (150%).
k. Under this system, every living, breathing, and working person will have what they need to survive. The rest is up to God and themselves to provide.
l. Instead of working to acquire monetary wealth, people will work to make this world a kinder, gentler, safer, friendlier, more equal, more hospitable, more tranquil and educated world society to live in.
m. Those that refuse to work and would rather be a burden to the world society through laziness, or committing crimes against others will be winnowed out. The Bible says that no person should eat for free. If they cannot work, they will be given tasks that they can do. If they can do nothing physical or mental, others will contribute to their care.
n. Each person will receive ten weeks of vacation per year to use as they like. This will insure that there are plenty of tasks and workers to complete those tasks throughout the year.
o. Similarly, that also means that each person must work 1,680 hours per year at their chosen profession(s) to receive their full time benefit.
II. Wage Information:
The wage information that I will be relying on to determine the average hourly wage per person around the world will be sourced from the International Labour Organization, a division of the United Nations.
While there are many who desire to work, as technology marches forward and the population of the world continues to increase, the number of jobs available will continue to decrease. As a result of these factors, the population of the world must begin to stabilize and then gradually decrease in order to obtain sustainability, both economically and politically around the world.
At the present time, according to the International Labour Organization, the present average wage per person on this planet is $18.59 US. Each Tiered employee would receive benefits according to items (i) and (j) as stated above in the Implementation list (I).
Tier I Employee – Risk Level Four or Higher, Education Level 16 years to 20 years, Highly Skilled Labor (10 + years in field).
Tier II Employee – Risk Level Three or Higher, Education Level 14 years to 16 years, Middle to High Skill Level (7-10 years in field).
Tier III Employee- Risk Level II or Higher, Education Level 8-12 years, Low to Middle Skill Level (4-7 years in field).
Tier IV Employee- Risk Level I, Education Level 0-8 years, Low Skill Level (0-4 years in field).
Other Wage and Benefit Adjustments may be necessary as the number of workers fluctuates.
When the Time Exchange is implemented, the number of hours worked by each person can be gradually increased or decreased according to the amount of work available, age, sex, risk factors, skill level, and education level of the worker. These work hour adjustments will occur naturally dependent on the “risk factor and education level increases” coinciding to each job. A central worldwide data base would keep track of the hours worked and the exchange credit available for each person.
These adjusted work hours will also naturally occur as a result of environmental factors, weather conditions, location, and type of work, health of the worker, and other factors to be included as necessary in the future.
As there would be no personal income, there would be no basis for government taxation.
IV. Job Classifications
Level I Employee – Risk Level Four or Higher, Education Level 16 years to 20 years, Highly Skilled Labor (10 + years in field).
Level II Employee – Risk Level Three or Higher, Education Level 14 years to 16 years, Middle to High Skill Level (7-10 years in field).
Level III Employee- Risk Level II or Higher, Education Level 8-12 years, Low to Middle Skill Level (4-7 years in field).
Level IV Employee- Risk Level I, Education Level 0-8 years, Low Skill Level
(0-4 years in field).
(a) Risk Factors of employment:
Risk Factor Four: High risk of personal injury or death as a result of employment activities.
Risk Factor Three: Medium to High risk of personal injury or death as a result of employment activities.
Risk Factor Three: Low to Medium risk of personal injury or death as a result of employment activities.
Risk Factor Two: Low risk of personal injury or death as a result of employment activities.
Risk Factor One: Zero to Low risk of personal injury or death as a result of employment activities.
(b) Education Levels:
Level I – 16-20 years of education (four within a specific field of expertise).
Level II – 14-16 years of education (at least two within a specific field of expertise.
Level III – 8-12 years of education with High School Graduation or Equivalency.
Level IV – 0-8 years of education.
(c) Labor Skill Levels:
Level I - Highly Skilled Labor (10 + years in field).
Level II - Middle to High Skill Level (7-10 years in field).
Level III - Low to Middle Skill Level (4-7 years in field).
Level IV - Low Skill Level (0-4 years in field).
The worldwide retirement age would be set at sixty- five years of age. After that age, work would be done on an as needed or voluntary basis.
* The International Labor Organization, a division of the United Nations, stated that the average hourly wage per person on the planet in 2010 was $18.59 per hour. This will be the baseline for survival.
© 2012 Winkle Publishing, The Winkle Institute of Economic Stability, and Mark Randolph Winkle Author and Publisher. All Rights Reserved.
The Winkle Institute of Economic Stability office is located online at http://winklepublishing.blogspot.com Comments can be sent directly to:
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This Paper is a Work In Progress. While many smaller issues need to be worked out, this is the blueprint for a Non-Monetary Economic System where everyone can survive equally.
Mark R. Winkle October 4, 2012