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UBU - A currency based on the portfolio effect of celebrating human potential


By Millard Arnold and Dudley Baylis | November 3, 2017
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UBU Cycle “The argument I use in explaining the essence of Project UBU is that we seek to introduce a fundamentally different perceptive on how society might be structured, which has at its core the appreciation and primacy of human value.”
– Dr Millard Arnold

All life forms exist to survive and procreate thus ensuring the survival of the species. For humanity, survival has been ensured by the intelligent application of work. Over time, our economic order has evolved to a point where humans exist to work and through work produce something which has a value determined by some external party and for which they are then paid. What they are paid then fundamentally influences their perception of themselves in what we might call the “human function” with which is associated a hierarchy of needs – from the basic needs to self-actualisation, and possibly even transcendence.

The conventional economic cycle is well understood. The important point is that it is a cycle, and like all cycles, the starting point isn’t critical if the cycle is already operating.

The conventional starting point is “work”, If you have access to the means to pay, then you can command what work is produced. This has imperceptibly shifted the emphasis of value from the importance of the human being to the importance of what he or she produces.

Project UBU offers something profoundly different. The current paradigm is: we work, we produce; work and product are given a value and only then are we paid on the basis of that value. The Project UBU paradigm begins with the premise that we have value because we are human, and if that value can be enhanced in a manner that takes us beyond the realms of the base of the Maslow needs heirarchy, then the work that we produce will be of a fundamentally different quality and purpose. When we are automatically recognised as beings of value, then we work to ensure the wellbeing of all of us.

In a centralised money issuance system – which has evolved from our base perceptions of the value of humanity - the only logical starting point to spin the cycle is to begin with “Work”.

In a decentralised money issue system where the origin of money issue is the human beings themselves, then the origin point to enable the spinning of the cycle can be in a very different place – “Pay”.

The conventional approach is essentially trapped in the misanthropic assertion that value is determined by work and productivity. Project UBU believes that all human beings are inherently valued by virtue of their ability to work and produce. Regardless of what they do, all humans contribute to the better collective good even if it is, e.g., cleaning the streets or weeding the pavement. The conventional attitude is cynically based on demonstrate or “work now; pay later” - i.e. one needs to demonstrate value through production output before payment is made. Project UBU is premised on we believe or “pay now; work later” – i.e. everyone has value provided they are afforded the opportunity to contribute it. It can create the ultimate portfolio effect for humanity. Clearly not all people will perform as expected – they don’t in the present system anyway. Some will shoot the lights out. But on average the system will be far better off.

Project UBU is both a philosophical and economic shift in consciousness that celebrates human potential.