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To: smolejv@gmx.net who wrote (27043)	1/7/2003 2:26:23 PM
From: Maurice Winn	Read Replies (1) \| Respond to of 74559

<here's an example of a circular reference if I ever saw one: "money is equivalent to productive hours expressed in money". Maurice, our discussion must give any reader, who has a freshman year of economics under his belt, a serious heartburn. > Yes, I noticed that, and wondered if that made sense, but that's how it is. Uncle Al has to maintain the number of dollars just right so that 1 hour earns $1 for the median pay rate. If the median person is in fact getting $1.000000001 then Uncle Al should cut the number of dollars in circulation to bring it back to $1 even. Or, because he's running a business, he might aim to have the median rise by 3% a year. So next year it would be $1.03 for the median person. He might as well enjoy the profits of such a huge and valuable business [not to mention the profits from lending a bunch of dollars out at whatever interest rate people will pay]. Circular definitions are fun though. They are how we measure something even more basic than money. Time! Time is how long it takes to go around the sun. Which is so many miles. What's a mile? How far the world's fastest runner can run in 4 minutes or so. Oh, another circular definition. Though the races are usually not so much a circle as an ellipse type shape. If the sun's trip is shrinking, we wouldn't know it if the clock is running faster. Proof that the universe is in fact shrinking is that time goes faster as we get older. Gravity is also increasing, which is why it takes us longer to run around said racetrack. So, we are inside the event horizon, going faster and faster into a singularity. That's what the gold bugs think too. So, defining an hour as a dollar seems fair enough to me, if whoever invented the universe is happy for an hour to be defined as a mile. Mqurice