Ask HN: How about an economy based on Time?
I'll just pitch my insane idea for a new economic system. Lets have an open discussion.
The current economic system is run by (mostly) meaningless numbers, that can be easily manipulated by people who understand numbers well. Eg: you do work thats worth x dollars and get paid, and govt prints some bills, now your x dollars are worth x/(somefactor)
Anyway, I'll come to the point, what if we managed to create an economic system that is based on a bullet proof system ever, "TIME".
Time is the single unforgiving platform, that is common to all. Nobody has one second less or more in a day.
By this system People gets rewarded, how efficiently they use their time. If person A creates x tool within 10 hours that was useful to 1000 people and person B creates y tool within 8 hours that was useful to 1500 people, then person B is richer that Person A.
As weird as it may sound, based on my observations, all the rich/wealthy people care more about time, may be that is what made them rich in the first place.
Why not bake it into the system, so, that everybody is encouraged to do more with less time and resources. (isn't that the definition of entrepreneur)
By rewards, I mean some system to keep track of the progress each person made, not necessarily money.
What do you think?