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Meaningful Metrics for a Smart Society
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Date: 2018-05-22 Page is: DBtxt001.php L0700-CC-UNITS-OF-ACCOUNT


UNITS OF ACCOUNT
THE BASIS OF MEASUREMENT FOR THE SOCIO-ENVIRO-ECONOMIC SYSTEM
MONEY WEALTH / MONETIZED VALUE
Money / Profit growth / GDP growth / Stock Prices / Cost push inflation / Wages chasing prices

CONVENTIONAL MONEY IS A MEASURE THE ECONOMIC PART OF THE SYSTEM

The MONEY we use for FINANCIAL TRANSACTIONS, WEALTH and CAPITAL
Everyone is familiar with money as a unit of account. Money serves two purposes:
(1) as a medium of exchange for the transaction; and
(2) as a store of value.
Money and double entry accounting is a very powerful system for accountability
When the population and the economy were relatively small, the impact on society and the environment could be ignored without much consequence.
But the 21st century is different. The population of the world is at record levels, and the degradation of the environment has become consequential, whether it is air pollution, water pollution, land fill, deforestation, ocean plastic or any number of other issues.
There is a need now for UNITS OF ACCOUNT that are relevent for ALL the impacts associated with economic transactions.
The money measure needs to be better understood. It is common to use a reference currency like the US dollar, but local currency also matters, and there may be funding currency as well. Besides the US$, other reference currencies might be the Euro, Japanese Yen or Chinese Yuan




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