2_Heidenreich_StefanRalph

8/12/2019 2_Heidenreich_StefanRalph

1/20

Ralph&StefanHe

idenreich

-Non-Mon

ey-Amsterdam-21.3.2014

-#1

Non - Money

On Money

Critique of Money

Non-monetary Economy

Value without General Equivalent

Network-based Matching

Theory


2/20

Ralph&StefanHe

idenreich

-Non-Mon


-#2

On Money

Money in the Modern EconomyBoE, Quarterly Bulletin 01/2014bankofengland.co.uk/publications/Pages/quarterlybulletin/2014/qb14q1.aspx

"Money in the modern economy is just a special form of IOU,or in the language of economic accounts, a financial asset."


3/20

Ralph&StefanHe

idenreich

-Non-Mon


-#3

On Money



"Because financial assets are claims on someone else in theeconomy, they are also financial liabilities one personsfinancial asset is always someone elses debt."


4/20


5/20

Ralph&StefanHe

idenreich

-Non-Mon


-#5

On Money



"Because financial assets are claims on someone else in theeconomy, they are also financial liabilities one personsfinancial asset is always someone elses debt."

"Money is a social institution that provides a solution to theproblem of a lack of trust.

"When a bank makes a loan to one of its customers it simplycredits the customers account with a higher deposit balance.At that instant, new money is created."


6/20

Ralph&StefanHe

idenreich

-Non-Mon


-#6

Critique of Money

Money as Power Relation(Bichler/Nitzan)

- System of Exploitation and Inequality- Monetary Imperatives


7/20

Ralph&StefanHe

idenreich

-Non-Mon


-#7

Critique of Money

Money as Power Relation(Bichler/Nitzan)

- System of Exploitation and Inequality- Monetary Imperatives

Money as Part of the Economic Problem(Keynes)

- Artificial Scarcity- Behavioural Consequences


8/20

Ralph&StefanHe

idenreich

-Non-Mon


-#8


Allocation of Work and TasksDistribution of Goods and Services


9/20

Ralph&StefanHe

idenreich

-Non-Mon


-#9


Allocation of Work and TasksDistribution of Goods and Services

Matching Problems, that can be transferred Networks


10/20

Ralph&StefanHe

idenreich

-Non-Mon


-#10


- no Money-Substitute (Bitcoin, or any other general notation)


11/20

Ralph&StefanHe

idenreich

-Non-Mon


-#11



Value

multidimensional

- strictly personalized and time-dependent- social aggregated value- long-term sustainable value


12/20

Ralph&StefanHe

idenreich

-Non-Mon


-#12



Value

multidimensional

- strictly personalized and time-dependent- social aggregated value- long-term sustainable value

transaction-centered

- value as multidimensional, transaction specific vector- each transaction calculates its terms of matching


13/20

Ralph&StefanHe

idenreich

-Non-Mon


-#13


- who gets what at what time?

- who does what at what time?

R


14/20

Ralph&StefanHe

idenreich

-Non-Mon


-#14




Economic Actors

- every entity taking part in exchange- Person, House, Car, or a State

R


15/20

Ralph&StefanHe

idenreich

-Non-Mon


-#15




Economic Actors

- every entity taking part in exchange- Person, House, Car, or a State

Matching

- Allocation & Distribution- Algorithm-based- giving options, preserving as much choice as possible- history - based: transaction based on the past record


16/20

R


17/20

Ralph&StefanHe

idenreich

-Non-Mon


-#17

Theory

3 possible approaches

Theory of the Firm (Coase)

- moneyless organization- depending on transaction costs- the world as one firm

Money as Memory (Kocherlakota)http://www.minneapolisfed.org/research/sr/sr218.pdf

"From a technological point of view, money is equivalent to aprimitive form of memory."In at least some environments, memory may technologicallydominate money."

R


18/20

Ralph&StefanHe

idenreich

-Non-Mon

ey-Amsterdam-21.

3.2014

-#18

Theory

3 possible approaches

Theory of the Firm (Coase)

- moneyless organization- depending on transaction costs- the world as one firm

Money as Memory (Kocherlakota)http://www.minneapolisfed.org/research/sr/sr218.pdf

"From a technological point of view, money is equivalent to aprimitive form of memory."In at least some environments, memory may technologicallydominate money."

Transaction - Currencies

- each transaction established it's own currency- based on track record (memory)

R


19/20

Ralph&StefanHe

idenreich

-Non-Mon

ey-Amsterdam-21.

3.2014

-#19

R


20/20

Ralph&StefanHe

idenreich

-Non-Mon

ey-Amsterdam-21.

3.2014

-#20

N

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2_Heidenreich_StefanRalph