#1- Money is a medium of exchange. It's hard to trade a cow directly for a cell phone but money allows us exchange equal values of the two.
#2- The greatest predictor of wealth is education. There are outliers. But they are extremely rare. The Situation and lottery winners are more rare than what a human brain can comprehend. Education leads to wealth. Show me 100 mechanical engineers and 100 high school dropouts and you will see that the engineers are far better off.
#3- Not having a market clearing mechanism in the Respectism economy will lead to collapses in the market. If the doctor has a bad day and says "fck these peeons, i'm going to Jamaica" the economy fails.
#4- The incentive to take up a profession that requires more work than what it will payout will cause the system to collapse. Eventually the labor market will sort itself out, resulting in everyone choosing the easiest profession. For the sake of this example we'll assume that the easiest profession is Record Store Owner (RSO). Eventually the entire labor force will consist of RSOs because they each assume that by running an awesome (or terrible) record store, they will be compensated with food, healthcare, and education. But, at a certain point there will be no doctors, farmers, or teachers because the incentive to choose those professions (more money) is gone.
#4.1- I'll use myself as an example. All I want to do is smoke weed all day. In our current economy (a hybrid of socialism and capitalism) smoking weed all day will very likely lead to me earning very little if any money. So I balance my smoking weed all day by earning a degree in economics that will theoretically get me hired. The only reason I want to be hired is so that I can make money to buy weed with. By having incentive to get the best job I can (to support my habit) I am providing a service (theoretically) than cannot be done by most people. I want to become a doctor, professor, fireman, etc because I will be compensated according to my ability. In the Respectism system there is no difference in compensation which will cause the evaporation of incentive to become a doctor, professor, fireman which in turn leads to a bunch of Record Store Owners and nobody growing crops, healing the sick, and teaching the children.
#4.2- Think of society in an economic sense. The economy currently is some function that is dependent on Hard Work and Compensation. The lazier you are the less you make and the harder you work the more you make. If compensation is always guaranteed, people will stop working hard. A perfect real world example of this is Chinese workers in the planned system before the reforms in the late 70s.
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Ryan Matthews, RB, Fresno State Bulldogs