Lifetime Economics

By Bob Blain

The rules of Lifetime Economics are: 1. Value in use time, 2. Price in work time, and 3. Profit in free time. Economics as we know it today has departed so far from reality that it needs to be replaced. Lifetime economics is intended to do that, bring economics back down to earth. Learn here the meaning of real capital, real debt, real investment, and real Gross Domestic Product.

• Language: English
• Publisher: Bob Blain
• Release date: May 4, 2013
• ISBN: 9781301308262

Bob Blain

Bob has a Masters degree from Harvard and a Ph.D. from the University of Massachusetts, both in sociology. He taught sociology for two years at The Ohio State University then taught sociology at Southern Illinois University Edwardsville from 1968 to his re-tirement (new tires) in 2001. He has spoken on monetary reform in New Zealand, Australia, Poland, Libya, India, and Togo in Africa as well as at many conferences in the United States and Canada.

Book preview

Lifetime Economics

1. Value in use time.

2. Price in work time.

3. Profit in free time.

Copyright 2013

Bob Blain, Ph.D.

Sociologist

Smashwords Edition

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Other Smashwords Books by Bob

The American Iceberg: Debt, Inflation and Money. This one is free.

The Most Wealth for the Least Work With Cooperation. This one is free.

The Fourth Option: Citizen Shares. This one is $2.99.

Table of Contents

Foreword

1. Value in Use Time

2. Price in Work Time

3. Profit in Free Time

4. Money Economics

5. The ABC of Money

6. Citizen Shares

7. Credit Market Debt of the United States

8. Real Capital

9. Real Investment

10. Real Debt

11. Real Gross Domestic Product

12. Use Values 305 Billions Hours Bought in 2012

13. The Bad Math of Interest

14. Capitalism is Killing US

15. The End of the Beginning

About Bob

Other Books by Bob

Bob's Websites

Foreword

I intend with these few pages to encourage the replacement of economics as we know it today with a better one. Conventional economics is all about money; lifetime economics is all about reality.

Back to TOC

1. Value in Use Time

Value in use time simply means to judge the value of something by how long it is useful. A well-built house well-maintained can last generations. That is real value. Such value is recognized intuitively and by its label, real estate.

Use time is not the only criterion of value, but it is a universal one, applicable to all things in all places. Even a meal can be judged well by its use time. The initial consumption of food may not take long, although a meal consumed at a leisurely pace in a peaceful setting is more valuable than fast food bought on the run and eaten in haste.

The food we eat serves us for far longer than the time it takes to eat it. After it enters our body, it is digested and becomes part of our flesh and blood. That meal also keeps us alive. Each meal, then, is the fuel that sustains us for as long as we live - which can be as many as 100 years. Therefore, from a use time point of view, food and water are the most valuable in use time.

Make a list of things that you value.

__________________________

__________________________

__________________________

__________________________

It need not be a long list. It is meant to highlight the extent that you already judge value with use time. Here is an example.

____Love____

__Friendship_

___Family___

__Clothing__

It is so sweet to love and be loved, the longer, the better. Is that not so?

Those friends you have had for a long time, don't you feel good about having long time friends?

And family, they say that family is where, when you go there, they have to take you in. Family is usually relatives by blood: mother, father, brothers, sisters, cousins, aunts and uncles. It feels good to have family that you can count on to celebrate