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| Sandeep Jaitly |
How would companies form under true, free exchange? What is a ‘job’ under free exchange? To answer such questions, the idea of fiat – or coercion more generally – has to be eliminated from the discussion. In the broadest sense, a true ‘job’ is a task that you would do yourself were it not for finding another suitably capable person.
Imagine that you possess great skill in crafting fine surgical instruments from steel. Imagine further that you alone make such instruments and need to increase the quantum of surgical instruments produced. How is this done? It’s worth appreciating that in this case, you alone possess the ‘equity’ of ‘the business.’ To increase the quantum of surgical instruments produced, you would need to find someone to train to take over some aspect of making the surgical instruments.
This is the genesis of the ‘apprentice/master’ or ‘student/teacher’ relationship. But does it end here? Of course not – with the apprentice trained, the total output of surgical instruments would increase with the apprentice and master (i.e. you!) working together and that is not possible were you not working together! On this basis, the apprentice receives newly issued equity in the ‘company’ of apprentice and master; the apprentice has ownership in their work combined with that of their master.
When we observe the formation of ‘companies’ under this fiat hegemon, the above is casually disregarded as a philosophy. “Do you have some idea that you read from a magazine and the fiat balances? Then ‘hire and fire’ the right people until success!” is the way of this dark age. This is no different from slavery and will have the direst consequences for society imaginable. The ‘labouring classes’ are not only paid in fiat but have no ownership in their action. Please ponder on this…
The only way that this will be resolved without bloodshed going forward is for all to possess ownership in their action – i.e. equity. This artificial dualism between ‘owner’ and ‘worker’ has promoted the grossest ignorance over the centuries and will end most dramatically with fiat disappearing. The concept of equity is well beyond the fiat numbers against which it’s priced. It’s up there with gold and silver themselves.
In conjunction with monetary soundness, an ‘equitization’ of all ‘labourers’ will have to be initiated. For if this isn’t, it matters not about monetary reform in the slightest – bloodshed will be the order of the day across the globe.
