Jul 3, 17 / Leo 16, 01 10:37 UTC
Re: How can we create a functional economy and generate money from nothing in Asgardia? Any idea? """" A dynamic economy""""" ¶
This is my suggestion to establish a dynamic economy:
Firstly, you need a virtual bank and a virtual store. Then a bank account is created for each Asgardia through the bank, and within it there is an equalization value of, for example, one million units per person, and the total amount of money is also determined. Anyone can create and sell a product for a virtual store on their own initiative. To benefit from the bank and the market, the bank can deduct and save part of the sales transaction as a tax, and use one million of them each for recruitment and retain part of it for supply on international markets. A different percentage of taxes can be considered for different income levels. All financial transactions must be transparent and observable for all members of the Asgardia to prevent rents and corruption. But everyone will be free to spend their money on the store as they see fit.
Here are a few things to happen:
First, the number of early inhabitants of Asgardia remains constant and the economy is expanding with two factors of efficiency and economic profitability.
Secondly, the importance of people dependent on production should be. As more productive and creative people produce more marketable products and gain more profits, they will have more value in Asgardia's decision making.
Third, equal status will be created in front of residents to grow in a free competition. Since the initial amount of Asgardia's money is fixed with this method, it will result in an increase in the value of money and will be able to supply it in foreign markets. But there must be a law on how and how much of the international supply comes from scientific research.
People who have the science, product, and creative thought that can create value from nothing, will be more influential by pooling their value for themselves.
In my opinion, the task of assigning a new colony to the economy, in its methods of production, will restrict it. We have to let the inhabitants of Asgardia decide what to produce and how to grow and develop Asgardia.
This is a method of political economy that directly links value to efficiency.
The next step is entering the world of inter-Planet business. Investing in resource discovery projects in other areas that start with accurate resource mapping, the creation of the space transportation insurance industry, the sale of resource information in the free market and the provision of capital to extract resources through robots and sell them. And in the next step, physical entry into the realm of space.