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The explicit goals of our sociopolitical economy as stated in the 1913 Federal Reserve Act are (paraphrased) as follows: 1. Maximum employment 2. Stable prices
by laotzu 11y ago
The explicit goals of our sociopolitical economy as stated in the 1913 Federal Reserve Act are (paraphrased) as follows:
1. Maximum employment
2. Stable prices
3. Moderate interest rates
I'd say all of these should be reevaluated, most importantly #'s 1 and 2.
Instead of "putting country X back to work" we should consider the current state of automative abundance and the basic economic principle of "too many cooks in the kitchen". So instead of maximum employment, maybe we should think about minimum employment?
#2 should also be reconsidered in light of exponential growth of our technology and the resulting ephemeralization. We are producing goods and services better, faster, and cheaper at exponential rates. So prices should tend to reflect this reality, and diminish, not stay the same.
- toomuchtodo 11y ago"How can we provide the maximum quality of life to everyone with the minimum amount of jobs? And what level of resources can we commit to automating away the rest of jobs in this century?"