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Topic-Talk Walks (TTWalks) Message Board Economics of Compassion: What's Possible? › Economics of Compassion: Examples worth celebrating!

Economics of Compassion: Examples worth celebrating!

Fran R.
FranRew
Group Organizer
Denver, CO
Post #: 90
Please tell us one or more examples of an ECONOMICS OF COMPASSION that you feel is worth celebrating. Help TTWalks to celebrate your example(s) with you.

Dr. Martin Luther King, Jr. (MLK) said this about the economics of compassion:

"True compassion is more than flinging a coin to a beggar ...
it comes to see that an edifice which produces beggars needs restructuring."
­

That "edifice" that Dr. King referred to, that collection of economic structures, was built with our best economic tools for building compassionate economic relationships. As Maya Angelou is famous for saying "When you know better, you do better."

Our economic tools have become better over time. That's worth celebrating!!

What are examples of an economics of compassion that you would most like TTWalks to celebrate?

TTWalks will be celebrating examples of an Economics of Compassion in the 2013 MLK Marade, and in the annual Marades in the years to come. You're invited to RSVP for the 2013 MLK Marade and follow TTWalks updates by clicking on our calendar announcement - "2013 MLK Marade - TTWalks' Celebrates "Economics of Compassion".

Fran Rew welcomes you to share your quesions, comments or recommendations directly with her at (303) 321-1064, info@TopicTalkWalks.com.
Fran R.
FranRew
Group Organizer
Denver, CO
Post #: 92

I would like to celebrate an exploration of "What's Possible?" for an improved "Economics of Compassion". One "What's Possible?" exploration is an additional accounting tool that could help individuals to create jobs doing the work they most love doing.

There actually is a 75-year-old model example of such an accounting tool in Switzerland for the 1% of their population who represent individuals who are owners of small and medium sized businesses. They call it a WIR debit card. I'd like to see what I call a Jobs Debit Card (J-Card) that could be available to 100% of the population in the United States, and grow to the rest of the world.

Similar to the WIR debit card, I'm asking if it is possible that a J-Card could keep an account of both my cash and points from my personally created jobs (my sweat-equity points) for each of my dual currency exchanges. I see sweat-equity points as a bottom-up economic tool that I believe would work like an economic shock absorber in times of a natural or man-made economic disaster.

If 100% of the population in the United States became eligible to participate in a J-Card, both large and small businesses, as well as individual consumers could participate. More cash would begin moving in order to also spend hard-earned sweat equity points.

TOP 7 QUESTIONS about this hoped for additional accounting tool:

Q-1: How do we pay for the creation of this J-Card accounting tool?

Any licensed private financial service (bank or debit card administrating company) could collect either an annual fee or a fee based on a percentage of each transaction. The national and state governments could retain their percentage of this fee. Taxes on J-Card exchanges could include taxes for J-Card sweat-equity points. A percentage of the taxes could be paid in J-Card sweat-equity points.

Q-2: How would a J-Card work?

For example, as stated in Q-1, any licensed private financial service, such as an online accounting service like Square or PayPal could offer a J-Card plan, which could track both cash and sweat-equity points, and charge a fee for each J-Card exchange. Traditional banks could also offer their customers J-Card accounting services for a fee as a part of their customer's own personal local banking services, possibly through VISA, Mastercard, etc.

Q-3: How could we prevent abuse of the J-Card?

Our primary control of any currency abuse is "consumer beware". Our secondary controls for abuse by theft, counterfeiting, and devaluation can be done through programmed database monitoring sensors similar to the eBay consumer-based rating system for each individual's exchanges, and the traditional credit/debit card alerting systems used by VISA, Mastercard, etc.

Another way people could assess the appropriate cost for sweat-equity points in the United States could be similar to the Blue Book rating for cars. People could go online to check the U.S. Department of Labor's Bureau of Labor Statistics to view by job title and job code, and see the associated 50% median hourly wage as listed on the USDL's Bureau of Labor Statisitics database.

If 100% of the United States population had access to a J-Card, each individual could have the opportunity to negotiate the percentage of cash and sweat-equity points they were willing to accept for each job they completed or product they bought or sold.

Would all jobs require the use of a J-Card whether the job paid J-Card sweat-equity points or not?

No. Individuals willing to pay the full cash value hourly rate or more wouldn't need a J-Card to track sweat-equity points.

Q-4: Could all products be purchased with a J-Card?

Yes, but if you're paying 100% cash, you really don't need to waste the expense of using a J-Card. Only products with a price that accepted a percentage of sweat-equity points would actually need to be purchased with the J-Card. However, when your purchase includes a combination expense of a 100% cash item with another item that is a combination of cash and sweat equity points, the J-Card would be needed. For example, you could use a J-Card when paying the full-price the cost of the paper for your business flyers, but pay the graphic designer and printer through a cash plus sweat-equity agreement using your J-Card.

Q-5: What businesses could accept J-Card sweat-equity points?

From individuals, to large corporations, to small mom-and-pop shops, the sweat-equity points could be accepted like DISCOUNT POINTS to attract new business with any cash purchase.

Hotels and airlines, and other businesses with the most time-sensitive products and services, would have the greatest incentive to accept a percentage of cash and J-Card sweat-equity points. But these J-Card points could take less priority to other points already recognized by their industry.

For example, hotel rooms, airline tickets, etc could offer as high as a 90% sweat-equity points and 10% cash for their reservations after they had attracted all the customers they could at a specific deadline through their customized industry points only. You can't sell yesterday's vacant room, or yesterday's airplane seat. These are examples of the most time sensitive products and services.

Each individual's time is also extremely time sensitive - individuals can't sell hours and skills they once had 20 years ago.

Less time sensitive products like food with a long shelf life before the expiration date, or clothes that are limited only by their cost of remaining in unsold inventory, could accept a percentage of 10% J-Card points and 90% cash, or whatever percentage rate each vendor prefers based on their interpretation of product and time value.

Q-6: Could J-Card sweat-equity points accumulate for the purchase of big-ticket items like homes, and cars?

Yes, depending on the accepted negotiated value each seller places on their product. Unlike the WIR card where points expire annually, the J-Card sweat-equity points could be allowed to accumulate just as cash is allowed to accumulate, and qualify for purchase of higher priced items accepting J-Card sweat-equity points. The credibility and stability of value of sweat-equity points would need to be established before large amounts could be recognized as acceptable for large exchanges.

Q-7: Would the J-Card's sweat-equity points compete with bank and other lender loans?

Yes and No.
Yes - The J-Card would create an additional lending option where few other options exist.
No - The J-Card would actually increase the potential for 100% of the population to qualify for loans they would not have qualified for without the J-Card.
Fran R.
FranRew
Group Organizer
Denver, CO
Post #: 93
What is the oldest existing model of something similar to a J-Card?

The oldest example of a similar economics of compassion tool within an existing economic structure is the WIR Card.

In 1934, what is now called the WIR Bank was created as a tool for the economics of compassion within the existing struggling economic structure. My proposed vision of a Job Currency Debit Card (J-Card) differs from the WIR Card in the following 5 primary functions:


  • The United States Department of Labor could publicly administer the U.S. J-Card, through privately run certified financial institutions.
    The private WIR Bank administers the WIR Card.

  • For J-Card jobs, certified job codes could be used to standardize to the statistical median 50% hourly rates through the United States Department of Labor with a primary focus on job creation, and a secondary focus on product sales, which would follow no price standard.
    For the WIR Card, the percentage of cash and WIR credit points for products and services follows each business owner's listing in the WIR catalogue or each business owner's negotiated percentage exchange rate. The products and services are exchanged only between business owners, not between non-business owner customers. The WIR Card's primary focus is on product prices without a standard, and a secondary focus on job creation without a standardized hourly rate.

  • The J-Card (like money itself) could be available to 100% of individuals living in the U.S.
    The WIR Card is available to less than 1% of the Swiss population of 7 million citizens. The WIR Card is available only to owners of small and medium sized businesses in Switzerland, not large business owners or individual customers who are not business owners. I repeat, non-busines owner customers do not have access to the WIR Card as a tool for earning and spending cash and WIR credit points.

  • The J-Card (like money itself) could be supported by all federal and/or state licensed private financial entities.
    The WIR Card can only be supported by one single nationally licensed private bank - the WIR Bank.

  • J-Card credit points (aka Sweat Equity Points) can accumulate so that they can even be used to buy homes, buy cars, etc, if the lender or merchant accepts J-Card credit points in combination with a cash exchange with a minimum cash requirement of 50%.
    The WIR Card restricts WIR credit point accumulation to one year. If the WIR credit points are not spent in by the end of the calendar year, they are lost.


A 4-minute YouTube video introduces this 76-year-old WIR Bank model in English at

www.youtube.com/watch?v=RAAFGcBra5A&feature=channel_page­.

There are many answers to the question
How do we create an Economics of Compassion?


Could the J-Card become one of the many good answers? Could affordable compassion include a J-Card that helps individuals create jobs for each other during times of increased needs, obstacles and dangers?

Please share your vision for an economics of compassion with me in this blog. Thank you so much for taking the time to read my vision.
Fran R.
FranRew
Group Organizer
Denver, CO
Post #: 101
TTWalks member ­Belinda Williams shared that "BIKING" is her favorite example of an Economics of Compassion, because "BIKING" represents sustainable transportation and sustainable health.

The video below is from 2008 when Boulder, Colorado ranked #3 in America’s Top 50 Bike-Friendly Cities.
­Boulder's 2012 ranking holds at #3 as Boulder and other American cities keep becoming even better bike friendly cities..




Belinda was interviewed by Channel 9 after being saved by her bicycle helmet, when a gust of wind blew her off of Mount Evans.



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