Americans manifest their density, we set goals and achieve them, for the common good. Just Markets are our goal, Time Economics is our methodology, and we are the marketing campaign. Market economies are a living system, we cannot be objectively quantified. By following unlimited GDP "growth", we've fallen for their trap. 

Everyone Thinks They Know What's Best

This is the issue with unjust influence of public policy

Why do we need Just Markets?

This page is a work in progress

What Are Markets?

A market facilitates trade through a set of rules to achieve a goal. When we buy a good or service, we value it higher than we value the money we use to pay for it, and vice versa for the seller who values the money more. That is the most common goal of a market, to increase the total value of those trading. This trade collapses without rules as people would be free to lie, steal, and cheat. In modern times we have several different markets to trade specific goods (e.g. stock or commodity markets) or cover different regions (e.g. cities, states, and national market). 

Stock Market

When people reference the market, they are likely talking about the stock market. A stock represents a share in ownership over a company, so when the price of a stock increase, it represents the value of a company increasing. There are multiple stock markets around the world and they have their own set of rules to facilitate the trade. In the midst of the great depression, which followed the biggest stock market crash in US history, congress passed the Securities Act of 1933 and Securities Exchange Act of 1934 to require transparent information and other rules to protect the general public. The goal of the stock market is to raise money from the public and provide a system for people to easily trade stocks amongst each other. 

Energy Market

The energy market has a century long history of evolving rules to achieve the goals of wide spread, reliable, and cheap energy. Electricity is one of humanity's great inventions and it didn't take long for people realize unregulated energy companies were failing to provide the full social benefit of electricity. The high fixed costs made the industry easy to monopolize and behave in a manner that maximized their profit over society's profit. They failed to provide electricity to rural areas and price gauged where they had monopoly power. 

Today, about two thirds of America is covered by deregulated energy markets where people can trade electricity like a commodity. Before these energy markets were created, and still exist in a third of America, utility companies are state sanctioned monopolies. These monopolies don't profit off the cost of electricity directly, as those are passed directly to the consumer, but profit from a percent of capital expenditure. That system was an upgrade from letting monopolies price freely, but it still has perverse incentives to unnecessarily increase capital expenditures and ignore fuel prices. 

The energy 

Labor Market

You may have heard the story of Ford Motor Company increasing its wages and reducing the working week to 40 hours. 

But more impressively is the story of the first women in a cabinet position. 

National Market

The national market makes up all the markets in a country. We've used Keynesian economics to avoid another great depression. But we've mainly reverted to this general ideas that big gov bad and small gov good, regulations are against freedom and taxation if theft. We still face market failures many sectors of the economy that is resulting in climate change, massive inequality, and a quality of life that may be worse than our parent's generation. 

The goal is GDP growth. That's it. 

What Is A Just Market?

Markets are a set of rules that facilitate trade to achieve a goal. The for goal for a national market is to increase its wealth. As mentioned in the section above, the goal of mercantilist markets were to increase a nation's wealth in gold and silver through protectionist rules to ensure their national exports were more than their imports. After The Wealth of Nations was published, the goal of free markets were to increase the nation's wealth in production/consumption (GDP) through the rules of property rights and free trade. We've reached a point where our production/consumption is negatively effecting our global environment and shrinking the amount free time people get to spend doing the things they want to do. The goal of Just Markets is to increase the actual wealth of life, through rules that protect the environment and increase efficiencies to increase the nation's wealth in freedom of time. 

Equitable

Just Markets are built upon the assumptions that people's wants are subjective and everyone matters equally. These assumptions better match reality and give us better goals to strive for. To include people's wants outside of consumption, we can measure people's Quality of Time (QT). When can then measure people equally by weighing everyone's QT the same. By moving beyond the measurement of price, we can accurately account for the diminishing marginal returns of consumption.

Sustainable

Our current economy's goal to constantly increase our production/consumption (GDP) has caused severe environmental harm to our planet. Plastic waste that takes centuries to decompose and are pilling up in our landfills and oceans. Our reliance on fossil fuels to keep growing the GDP is causing our climate to change at an exponentially dangerous rate. By shifting our market goal away from the GDP and towards people's Quality of Time, we can no longer justify polluting our planet for "economic growth". A Just Market does not discount our future environment, because the value of sustainability is immeasurable without a future. We can no longer make excuses to steal from future generations to maintain and increase our production/consumption. 

There is a limited amount of pollution our environment can sustainably handle, anything above that point is unsustainable and should be banned. A Just Market caps the amount of pollution at a point that can be sustainably handled, and provides a framework to disincentivize pollution by requiring the polluter to pay the rest of society to pollute. We have these systems in place for our fish and game stock to ensure a sustainable population, we can create these same systems for our global environment. 

Efficient

Our current economy is extraordinarily inefficient in distributing scarce resources equitably and sustainably as mentioned above, but free markets aren't even economically efficient. Significant amounts of our production/consumption is wasted due to Pointless Production, Planned Obsolescence, and Corporate Collusion. Plus, without Societal Collaboration, a free market would not provide public goods such as libraries, schools, roads, parks, GPS, weather information, justice system, social safety nets, firefighters, 

• Broken Window Fallacy

• Planned Obsolesce 

• Corporate Collusion 

The Free Market Myth

The "free" in free market stands for the freedom for business to do whatever they want without government regulation. 

Capitalism vs Communism

This dichotomy was created in the mid 19th century by Karl Marx, in which it pits two groups of people against each other while encouraging revolution. Marx's self fulfilling prophecies came true in the 20th century as tens of millions people died in revolutionary war and famines from the mismanagement of capital. Communism is based on the labor theory of values created by Adam Smith which provides an objective measure of value. Since value is subjective, it is impossible for one entity that controls all the capital to efficiently distribute scarce resources. 

Capitalism, as defined by Marx, is a system where the people with capital use it to gain more capital, eventually leading to the consolidation capital in the hands of the few. By the nature of the definition, Marx believed capitalism was inherently unsustainable as it will lead to societal collapse/revolution. That is a valid critique and rings true in past society's that faced rising inequality. Since communism had no markets and capitalism does, the term capitalism came to falsely encapsulate all markets. 

By maintaining the capitalism versus communism dichotomy, it upholds the idea that there is a constant struggle of power between the capitalists and the working class. In reality, we must work together to build a just market. We need entrepreneurs to deploy capital in innovative ways and rules to ensure it is being done so sustainably, equitably, and efficiently. We must stop using these divisive and outdated terms if we want to improve upon the status quo. 

Corpocracy vs Democracy

While there shouldn't be a constant struggle between capital and labor in the market, there is certainly one in our republic. The founding fathers were the radicals of their time, in a world controlled by kings, they chose to be governed by representatives elected by white landowning men. They were the plantation owners and farmers, who accounted for the vast majority of the productive output of their time. The constitution provided a framework for democracy that would be expanded over time, but our government essentially started as a corpocracy. 

In contrast to democracy where the government is controlled by the people, a corpocracy is when the government is controlled by corporate interests. The USA has always operated as a mix of corpocracy and democracy, where their control over the government has increased and decreased over time. The civil war started when the people of the north voted against the plantation owner's interests in owning slaves in the south, ultimately costing the most American lives ever lost in combat, but expanded democracy to black men. When an anarchist shot President McKinley in 1901, the government was at its highest level of corpocracy, until Theodore Roosevelt cracked down on their monopolies. Today, corpocracy is on the rise as money can legally influence politicians. It's legalized corruption and it must be fixed if we want to achieve Just Markets.