[Host's Note: Here is the abstract from the above-referenced site.
THE MEASUREMENT OF MONEY AND THE DETERMINATION OF EXCHANGE RATES
This paper proposes that units of energy should be used to determine the
real value of money, because these units are the true, scientific,
measurement of the work done in the production of goods or services. As a
unit of energy never changes, its value remains constant regardless of the
circumstances, making it a constant in any valuation of monetary units.
The ratio of Net Energy Consumption to Nominal GDP is used to measure the
actual value of money. In consequence, a mathematical formula is described
which calculates and forecasts the rate of change to the value of money.
A method is described for the calculation of exchange rates. It is claimed
that the real value of exchange can be determined by comparing the
endogenous ratio, Net Energy Consumption/Nominal GDP, with exogenous
ratios of Net Energy Consumption/Nominal GDP.
The growth and prosperity of a nation are said to be indicated by energy
Consideration is given to how some fundamental monetary activities might
affect an economy, which is described in terms of energy rather than
The concluding remarks hypothesise how an economy might behave if the
principles of this theory were applied.
--- end of abstract ---
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