So, I'm writing a contract up. Here's what I've done so far (I've not written the Stock Exchange stuff up yet, or corporations, or anything).
Agoran Economics ---------------- 1. The title of this contract is "Agoran Economics". 2. Any person may join or leave this contract at any time by announcement. 3. This contract is public. 4. Changes may be made to this contract and on its behalf only by a majority vote of its first-class members. 5. Assets defined in this contract may not be transferred if the sender does not have the required amount of that asset. The Peso ---------------- 6. The currency defined in this contract is the Agoran Peso (otherwise referred to as simply the "Peso"). 7. Pesos may be transferred from one person to another by announcement. For a tax rate N (set by the Treasuror) such that 0 <= N < 1, the recipient shall only receive 1-N times the amount transferred. 8. Pesos may also be transferred from a person to the Treasury or vice versa without tax. 9. Upon a player leaving, his holdings in Pesos are destroyed. 10. There may only be one million Pesos in existence at any given time. The Treasury ---------------- 11. The Treasury is an entity whose sole purpose is to store Pesos. Its holdings are managed by the Treasuror. 12. The Treasuror may be elected or replaced by a majority vote of the members of this contract. The duties of the Treasuror involve economic stimulation by: a. Setting the tax rate by announcement. b. Setting the rates at which the holdings of the Treasury are distributed by announcement. 13. The Treasuror SHALL publish a weekly report detailing the holdings of all members of this contract. 14. A member to this contract CAN, by announcement, invest any portion of his holdings in the Treasury. These holdings are transferred to the Treasury, and the amount invested is included in the Treasuror's report. 15. Every month, the amount that each person has invested in the Treasury is halved. 15. The Treasuror CAN, by announcement, set the weekly rates at which the Treasury doles out money. These rates include: a. The salary rate, which is the percentage of the Treasury's holdings that is divided up among officers who, in the previous week, completed their reports on time, submitters of proposals that passed, and judges of CFJs that were not appealed. b. The investment rate, the percentage of the Treasury's holdings divided up among investors in the Treasury proportionally to how much they invested relative to other investors. 16. The Treasury's holdings in Pesos consist of the total number of Pesos minus the number of Pesos held by players. Thoughts on what I have so far? I'm going to add a ton more, but I'm wondering if I've forgotten something. How I'm thinking of implementing the Stock Market is this: a person (probably a partnership) can become a corporation by announcement or having it as a clause in the agreement. It then receives 100 shares valued at 0 Pesos. The value of a share of the stock of a corporation is simply the holdings of said corporation in Pesos divided by 100. If doopy and I formed a corporation and each put in 1000 Pesos, then the price per share would be 20 Pesos. We would then sell shares, which would go into the Brokerage, which would then sell them to buyers at the going rate for our stock. Corporations could figure out their voting structure and such, but it seems to me like it would be a good idea for a corporation to use how many shares of stock in that company a person owns to decide his power in decision making, such as the number of votes that a person has being the number of shares he holds. This is beyond the scope of this contract, however, but it's just my idea of how it would work out. Thoughts on this mechanism? I'm not sure if a purely supply-and-demand system would work with so few people, so I thought of this. avpx On Thu, Jun 19, 2008 at 8:07 PM, ihope <[EMAIL PROTECTED]> wrote: > On Thu, Jun 19, 2008 at 9:58 PM, Nick Vanderweit <[EMAIL PROTECTED]> wrote: >> Woops. Even so, would it overlap anything in effect *now* if I created >> an entire currency system for Agora, complete with a stock exchange >> and treasury? > > Oh, the Bank of Agora, partnerships, and the current asset system. (Of > course, the Bank of Agora is a partnership that uses the current asset > system.) But we could use better versions of them all. > > --Ivan Hope CXXVII >
