Objectives

Primary Objectives

Primary objectives of the economic simulation are to test the following ideas:

• that an economic system resembling that in the UK or the US is financially and economically unstable. New money is issued against the economic rent of land, but cannot be redeemed
• that the financial system can be stabilised by introducing a mechanism to share the economic rent of land by means of a market mechanism, substituting for taxation and means-tested welfare
• that taxation of wages, profits, sales, gifts, transactions and asset price gains is redundant and, in fact, harmful to human well-being

If the simulation convincingly shows these ideas, it can be used as an aid in promoting economic rent sharing to an audience of politicians, business people and concerned individuals.

Showing these ideas may facilitate gaining financial support from business groups, foundations and/or high net-worth individuals. With financial support, the ideas can be more effectively promoted, and the capabilities and fidelity of the simulation can be improved.

If the simulation fails to show these, it can be used as a test-bed to develop alternative approaches to stabilising an unstable economy, and/or the investigation of other possible causes of apparent instability observed.

Secondary Objectives

• expand the use of realistic economic models in academic and political discourse
• provide a basis for other people to test ideas for economic reform
• invalidate bogus models of the economy, especially those concerning money, taxation, welfare, natural resources, property and "free" markets
• make testable predictions concerning the development of the global economy
• show the principles concerning the margin of production
• show that sovereign bond issue is redundant
• show the effect of incidence of taxation and of the incidence of welfare
• show the natural effect of the concentration of control over wealth and political power
• show the central role that coercion plays in mediating wealth production and distribution
• show historic developments to be driven by economic factors, eg the creation of poverty through enclosures