Hello, again fellow Asgardians. We’re back with another Parliament update - But before we get into it, we wanted to let you know that it’s possible for you to directly contact Parliament. Our primary job is to represent the will of the people through the development and application of legislation for Asgardia - so your opinions really matter to us and we always love to hear from you. If you’d like to get in touch with Parliament, then you can do so by sending an email to crd.parliament@asgardia.space we will ensure that we review all our emails and respond to them as necessary - on the other hand, if you have general questions about Asgardia or how to use the website or any technical issues, please email citizens@asgardia.space. Not that’s out of the way, let’s get into the update. Parliament has been towards the upcoming Autumn sitting that will take place in Estonia. Much of the preparations have been completed and people from Parliament have been getting their tickets and applying for the necessary visas - it’s a very large logistical undertaking and the events coordinators are working very hard to keep it all as streamlined. The conference centre and accommodations have also been prepared and we’re all looking forward to some long productive days ahead. Most of the Parliamentary committees have been focussed on polishing up economic legislations and ensuring that we have 30 signatures to progress them through the process. This is due to the fact that the Sitting will focus mainly on the development of Asgardia’s economy and economic systems. We’re really looking at ways to help build up some funds for the nation, but also to provide some important services for Residents. In October there will be an informal session that will allow us to have important discussions on the legislation before the Sitting in Tallinn. At this session, we will be able to start the process and have some indicative votes. These votes are a way for us to test the legislation and see how likely it is to pass in the official voting sessions - it’s a very useful way for us to make final edits and have final debates before we bring the legislation ‘to the floor’. We are working on the establishment of a ‘Culture’ contest that will run during the sitting in November. It will be an art contest - Participants will pay a small fee to enter the contest and complete their submissions. Parliament will then vote on the submissions and will pick a winner. Full details of the contest will be announced by the culture committee soon and we’ll also be ready to answer any questions that you may have. That concludes our Monday update for today. If you’d like to help support the development of the Nation, please consider becoming a paid resident - if we all work together, we’ll be able to turn Asgardia from a dream into a reality and reach the stars as one humanity. Click on your profile picture > Select Government Services > Pay the resident fee.

As we   start our new country, we reflect on what we are about to achieve, and what we need to achieve it.

Many different economic models exist, and all of them have been tried and used throughout the ages,  with different levels of success, from completely free market economies where  supply and demand is the only guiding factor, to interventionist forms where   government plays an active role in guiding the economy to achieve the social  equality and welfare agendas it promotes.

Economic growth is   measured in terms of total output or real Gross Domestic Product ( Total  value of all final goods and Services produced within a period of time). Another measure is called the Production Possibility Curve (PPC) or otherwise referred to as Production Possibilities Frontier(PPF) A Production Possibility Frontier outward shift ( an increase), is possible by the discovery or utilization of new resources (think asteroid mining) or a change of technology, both feasible and achievable goals of Asgardia. In Economics there are four factors affecting production – Land, Labor, Capital and Entrepreneurship. In various combination, these four factors determines the ownership of production  of goods and services and thus effects the type of economic system used. Socialism and Communism allows goods and services to be owned by all by means of the state and are valued for it’s usefulness to people, while Capitalism allows individuals to own the products and services while profit is the only guiding criteria. As a space nation,  Asgardia cannot subscribe to any of the fore mentioned  models if it want's to remain focused on it's task at hand instead of being led astray by profit interests or selfish human interests, but will have to look at state or  government directed economy where there are strong regulatory oversight and interventionist policies in a privately owned means of production. This leads us to look at an economy that is lead by private enterprise,  profit seeking entities where production and services developed for profit are guided by the state or government for maximum benefit to the social development and welfare of the people and also to achieve a shared national goal The Asgardian economy must be an economy where government exerted strong directive influences through economic planning to guide the market economy with state control of critical infrastructure such as Transportation, Energy and Telecommunication and incentives for private entities to engage in certain projects that furthers the national Asgardian goal, the goal of a peaceful and conflict free space that serves all humanity. Next tiem we look at what Products and Services Asgardia needs to produce.