[Mrsdev] Re: [wsfii-discuss] MRS spec @ WSFII

[Richard Kay]

On Thu, Jul 21, 2005 at 03:36:26AM -0700, Jo Walsh wrote:

> Re inter-lets networking, i wonder what the use cases are; i hear 
> suggestions of a consensus that direct exchange of currencies is 
> probably not a good idea. but how does one 'build in' imperviousness 
> to a secondary currency speculation market, futures in relative values 
> or what have you?

Basically through transaction costs. If the global market
operators have their way, these will be minimised for all global
businesses, resulting in very little perviousness. Unfortunately, 
this involves some pretty dodgy accounting, i.e. dumping costs 
(externalising) onto local communities, including those
who pay taxes, while global currency speculators don't. This 
isn't a problem which CC developers can solve independently 
of the political process, where the global operators have
had a free hand at buying laws for too long, e.g. see
http://www.theregister.co.uk/2005/07/21/dell_land_nc/ 
for an example of what local communities have to cough up to buy
continuity of a few corporate jobs.

The Tobin Tax is an attempt to apply a minor degree of
imperviousness to national economies. The Kay Tax paper
http://copsewood.net/writings/kaytax.html is an 
attempt to urge the application of the same principle
within a wider context. 

Best regards,
Richard.

> 
> 
> -jo
> _______________________________________________
> Mrsdev mailing list
> Mrsdev at copsewood.net
> http://copsewood.net/mailman/listinfo/mrsdev