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The object of this book is to a present a new economic theory related to the role of time in the economy; more concretely, I can say that it is the theory of economic time.
Since time transcends all existents, inevitably we shall see that from the economic theory of time derive others, such as exchange, monetary [currency], price, money, credit, interest, and wealth theory (its existence and variations), the theory of equality (distribution of wealth), the theory of accounting as an irreplaceable model for economics, and many more.
The object of this work from a social point of view, is to present an economic theory that will allow people to coexist in a society with more wealth and equality, in which each and everyone is in a better situation, with a framework of individual intellectual honesty in which each person lives by his or her own effort and not by appropriating others’ goods. This appropriation may have a monetary [currency] origin -which will be analyzed here- and/or a moral origin, which has to do with adopting the posture of an invalid and not taking on the economic responsibility that each one should. Marx proposes: from each according to his capacity, to each according to his need. We will have the opportunity to analyze this from other perspectives, as soon as we correct the scientific mistakes his moral proposal incurs in; that is, we will see how science leads us to that goal but not following the path he proposed. So, from the point of view of the social object of this book, I may also say that it seeks to attain wealth in peace; just as the wealth of nations avoids military conflict, the wealth of individuals works in the same sense, avoiding violence among them.
Nevertheless, it must be clear that the main object of this book is the study of economic science and theories derived from it; the social conclusions I have summarized are a corollary or result of the scientific investigations expounded here.
Before ending these brief paragraphs on the object of this book, I want to say that one way of expressing my state of mind in relation to economic theory before beginning my investigations –from which I derived the theories I present here- is to refer the reader to a paragraph in the Introduction to the Spanish edition by José Antonio de Aguirre, of the book “Monetary nationalism and international stability” by F. Hayek, edited by Ediciones Aosta. Near the end of the introduction (p. 35), de Aguirre says: “Everything seems to indicate that the most urgent task in the coming years will be to probe how we can reestablish the three pillars of economic policy that were subverted by the scientific optimism of these years, these being: a) monetary discipline, b) fiscal discipline, and c) commercial discipline. This is a congruent totality that survives as a whole when its three elements are engaged or inevitably collapses when any one of them is disengaged”.
Though in this work I deal, directly or indirectly, with all three aspects, the point of monetary [currency] discipline will be prevalent. |
