An economy is influenced by debt because the higher the debt the greater amount of interest on the debt accumulates and has to be paid back for use of the money required to create and consume things. When the cost of creating and consuming things goes up while the value of the “currency” to trade things goes down then it is called inflation. An increase in the cost of goods and services leads to inflation when the government and its central bank increases the money supply. Sound familiar?
An Economy Based On “Free Interest”?
The latter half of the 20th century saw the rise of interest-free Islamic banking and finance, a movement which attempts to apply religious law developed in the medieval period to the modern economy. Some entire countries, including Iran, Sudan, and Pakistan, have taken steps to eradicate interest from their financial systems entirely. As the world moves to accommodate “everyone’s interest” could we be headed towards a global economy based on “free interest”?
What Is The Interest Created By Conversational Currency?
Social media is about depositing conversational currency for use and gaining “interest” from it. A conversation can and does create a currency exchange of value. Sharing pertinent information with people whom can use said information to create more value for themselves and others creates an “interest”.
Conversations propagate based on the rate of interest. Rate of interest in your conversation is reflected by the rate of change. The more your conversation “changes” from one to one to a million the higher the interest rate becomes.
A return from your conversation is represented by the application of the relative information, knowledge and innovation which is applied to a transaction. A transaction is the exchange of value for economic return. The economic return is not only represented by the currency of money but by other forms of currency that eventually lead to the exchange of money.
A currency which leads to money begins with the creation of interest. Marketers and advertisers try and create “interest” that leads to a transaction. Politicians try to create interest in their positions through conversations hoping to gain enough interest to get elected. Now the internet enables anyone and everyone to “try” and create interest from conversations. The technology enables everyone to create conversations. Knowledge of human interest and how to feed that “interest” is what creates conversational currency that can lead to economic returns.
Our world is changing faster than every before. Like a bank rate of change creates interest from currency lent or deposited. Could it be that we are witnessing the creation of a new economy based on interested created by conversational currency? After all, old minds reject the “free economy” because they simply don’t understand how interest from free can be used to create an old currency called money. Get it?
What say you?