Economics: Household Management

The economics profession is ripe for a paradigm shift. Anomalies proliferate with an increasing number of economists searching for a more valid, reliable and helpful approach, whether it is adjustments in GDP, neoKeynesianism, critical theory, monetary reform, or more sublte changes such as modifying "scarcity" to mean "limits." This little book offers an example of what economics could be with money clarified as never before as a medium of communication whose job is to promote reciprocity among cooperating specialists in our global household. It returns Economics to its original meaning, household management and identifies entropy, not scarcity, as the problem and cooperation, not competition, as the solution. It addresses the two defects in money ignored by the prevailing scarcity-competition orthodoxy; that money originates as interest-bearing debt; and that money has no definition of its denominator, only a name, for example, dollar, dinar, peso, and franc. The corrections are to originate money as a right of citizenship and to denominate money in Hours representing work time. Throughout United States history, people have tried to get the money supply changed to what many of them have called "honest" money, but they failed to change it. The debt problems we face today are now so severe that we have the chance to succeed where they failed. You can help by reading Economics as global household management.