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Currency Based on Time Standard

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  • Tomas Kala

Abstract

The Total Economic Time Capacity of a Year 525600 minutes is postulated as a time standard for a new Monetary Minute currency in this evaluation study. Consequently, the Monetary Minute MonMin is defined as a 1/525600 part of the Total Economic Time Capacity of a Year. The Value CMonMin of the Monetary Minute MonMin is equal to a 1/525600 part of the GDP, p.c., expressed in a specific state currency C. There is described how the Monetary Minutes MonMin are determined, and how their values CMonMin are calculated based on the GDP and all the population in specific economies. The Monetary Minutes trace different aggregate productivity, i.e. exploitation of the total time capacity of a year for generating of the GDP in economies of different states.

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  • Tomas Kala, 2019. "Currency Based on Time Standard," Papers 1910.07859, arXiv.org.
    • Handle: RePEc:arx:papers:1910.07859
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    1. Nitzan, Jonathan & Bichler, Shimshon, 2009. "Capital as Power. A Study of Order and Creorder," EconStor Books, ZBW - Leibniz Information Centre for Economics, number 157973, July.
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