Coauthors to this proposal are doopy, pikhq, Chester Mealer, and Murphy
Agoran Economics
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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.
The Peso
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5. The currency defined in this contract is the Agoran Peso (otherwise
referred to as simply the "Peso").
6. 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.
7. Pesos may also be transferred from a person to the Treasury or vice
versa without tax.
8. There may only be one million Pesos in existence at any given time.
Pesos exist only in integer amounts.
The Treasury
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9. The Treasury is an entity whose sole purpose is to store Pesos. Its
holdings are managed by the Treasuror.
10. 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 base salary.
c. Setting the T-bond payback rate and maturity time. Upon being
set, these only apply to new T-bonds, not ones already in effect.
11. The Treasuror SHALL publish a weekly report detailing the holdings
of all members of this contract.
12. A member to this contract CAN, by announcement, buy a treasury
bond. These treasury bonds pay a dividend, set by the Treasuror, every
week until the bond matures, and the cost of the bond is repaid.
13. Every week, for the previous week, each officer (and those
described in this contract) who submitted his report on time, each
judge that completed a ruling for a CFJ that was not appealed, and
each person who submitted a proposal which passed, shall receive the
base salary for each instance. These people must all be members of the
Agoran Economics contract to receive payment.
14. The Treasury's holdings in Pesos consist of the total number of
Pesos minus the number of Pesos held by players.
15. Every week, the Treasuror may use up to 5% of the Treasury's
holdings for speculation in the markets and to stimulate the economy.
The Stock Exchange
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16. The Stock Exchange is maintained by the Broker.
17. The Broker's weekly report includes what corporations exist, their
price per share, and the BUY and SELL orders that have been placed.
18. A person (generally a partnership) may become a corporation by
meeting the following conditions:
a. Declaring itself to be a corporation, whether it is defined in
the partnership's contract or by announcement on its behalf.
b. Joining the Agoran Economics contract.
c. Having 15,000 Pesos or more at the time of becoming a corporation.
d. Choosing a stock symbol that consists of 1 to 5 letters of the
Latin alphabet.
e. Having approval by the Broker to become a corporation.
19. Upon the partnership meeting the above conditions, the Broker
SHALL issue the partnership 100 shares of that stock symbol. The
Broker shall then destroy a certain number of Pesos from the holdings
of that partnership equal to the salary at that time.
20. Only 100 shares of a given stock symbol may exist at a given time.
21. Shares of the same symbol are fungible.
22. Shares of different symbols are not fungible.
23. Shares are a currency and may be freely distributed by announcement.
24. Upon a person leaving this contract, the shares held by that
person SHALL be given back to their respective corporations by the
Broker.
25. Each corporation must pay a set amount of its holdings to
shareholders per share held. This is referred to as a "dividend."
26. The dividend rates paid by a company must be written in the
contract or otherwise publicly announced.
27. The stock price for a given symbol shall be determined by the
Broker and included in the Broker's report.
28. Stocks may be bought or sold by placing a "BUY" or "SELL" order by
announcement. If no price is specified, the stock price for that
symbol will be used from the Broker's last report.
29. BUY and SELL orders are included in the Broker's report. If a BUY
order for a number of shares of stock for a given symbol is announced
and a SELL order corresponds to that, the Broker SHALL transfer the
stock first from whatever person offered it at the lowest price, and
then randomly between people selling that stock at equal prices. He
shall then transfer the appropriate amount of money from the buyer to
the seller.
30. A person may cancel his own BUY or SELL order by announcement if a
transaction has not yet occurred.
31. Any person who, through negligence, causes the price of a stock to
fall may be fined by the Treasuror. Any person who causes said harm
through malice may face worse punishment, including seizure of all
assets and being banned from this contract.
32. The Treasuror is doopy.
33. The Broker is avpx.
Any thoughts on this contract? Doopy is currently away and since he is
Broker I will probably not submit this contract until he is back
(which should be within a few days).
avpx
