On Tuesday 01 July 2008 16:23:22 Ian Kelly wrote: > On Tue, Jul 1, 2008 at 3:41 PM, Nick Vanderweit <[EMAIL PROTECTED]> wrote: > > Coauthors to this proposal are doopy, pikhq, Chester Mealer, and Murphy. > > > > I join the following, which becomes a contract as soon as doopy agrees to > > it (he's sort of necessary). > > > > Agoran Economics > > ---------------- > > 1. The title of this contract is "Agoran Economics". > > 2. A person may join this contract by announcement. > > 3. A person may leave this contract by announcement at any time. This > > clause may not be amended except by unanimous consent of the members of > > this contract, and overpowers all clauses and contractual actions to the > > contrary. 4. This contract is public. > > 5. Changes may be made to this contract and on its behalf only by a > > majority vote of its first-class members. > > > > The Peso > > ---------------- > > 6. The currency defined in this contract is the Agoran Peso (otherwise > > referred to as simply the "Peso"). > > 7. Pesos may be transferred from one person to another by > > announcement. For a tax rate N (set by the Treasuror) such that 0 <= N > > < 1, the recipient shall only receive 1-N times the amount > > transferred. > > 8. Pesos may also be transferred from a person to the Treasury or vice > > versa without tax. > > 9. There may only be one million Pesos in existence at any given time. > > Pesos exist only in integer amounts. > > > > The Treasury > > ---------------- > > 10. The Treasury is an entity whose sole purpose is to store Pesos. Its > > holdings are managed by the Treasuror. > > 11. The Treasuror may be elected or replaced by a majority vote of the > > members of this contract. The duties of the Treasuror involve economic > > stimulation by: > > a. Setting the tax rate by announcement. > > b. Setting the base salary. > > c. Setting the T-bond payback rate and maturity time. Upon being > > set, these only apply to new T-bonds, not ones already in effect. > > 12. The Treasuror SHALL publish a weekly report detailing the holdings > > of all members of this contract. > > 13. A member to this contract CAN, by announcement, buy a treasury > > bond. These treasury bonds pay a dividend, set by the Treasuror, every > > week until the bond matures, and the cost of the bond is repaid. > > 14. Every week, for the previous week, each officer (and those > > described in this contract) who submitted his report on time, each > > judge that completed a ruling for a CFJ that was not appealed, and > > each person who submitted a proposal which passed, shall receive the > > base salary for each instance. These people must all be members of the > > Agoran Economics contract to receive payment. > > 15. The Treasury's holdings in Pesos consist of the total number of > > Pesos minus the number of Pesos held by players. > > 16. Every week, the Treasuror may use up to 5% of the Treasury's > > holdings for speculation in the markets and to stimulate the economy. > > > > The Stock Exchange > > ---------------- > > 17. The Stock Exchange is maintained by the Broker. > > 18. The Broker's weekly report includes what corporations exist, their > > price per share, and the BUY and SELL orders that have been placed. > > 19. A person (generally a partnership) may become a corporation by > > meeting the following conditions: > > a. Declaring itself to be a corporation, whether it is defined in > > the partnership's contract or by announcement on its behalf. > > b. Joining the Agoran Economics contract. > > c. Having a number of Pesos equal to the base salary or more at the > > time of becoming a corporation. > > d. Choosing a stock symbol that consists of 1 to 5 letters of the > > Latin alphabet. > > e. Having approval by the Broker to become a corporation. > > 20. Upon the partnership meeting the above conditions, the Broker > > SHALL issue the partnership 100 shares of that stock symbol. The > > Broker shall then destroy a certain number of Pesos from the holdings > > of that partnership equal to the salary at that time. > > 21. Only 100 shares of a given stock symbol may exist at a given time. > > 22. Shares of the same symbol are fungible. > > 23. Shares of different symbols are not fungible. > > 24. Shares are a currency and may be freely distributed by announcement. > > 25. Upon a person leaving this contract, the shares held by that > > person SHALL be given back to their respective corporations by the > > Broker. > > 26. Each corporation must pay a set amount of its holdings to > > shareholders per share held. This is referred to as a "dividend." > > 27. The dividend rates paid by a company must be written in the > > contract or otherwise publicly announced. > > 28. The stock price for a given symbol shall be determined by the > > Broker and included in the Broker's report. > > 29. Stocks may be bought or sold by placing a "BUY" or "SELL" order by > > announcement. If no price is specified, the stock price for that > > symbol will be used from the Broker's last report. > > 30. BUY and SELL orders are included in the Broker's report. If a BUY > > order for a number of shares of stock for a given symbol is announced > > and a SELL order corresponds to that, the Broker SHALL transfer the > > stock first from whatever person offered it at the lowest price, and > > then randomly between people selling that stock at equal prices. He > > shall then transfer the appropriate amount of money from the buyer to > > the seller. > > 31. A person may cancel his own BUY or SELL order by announcement if a > > transaction has not yet occurred. > > 32. Any person who, through negligence, causes the price of a stock to > > fall may be fined by the Treasuror. Any person who causes said harm > > through malice may face worse punishment, including seizure of all > > assets and being banned from this contract. > > 33. The Treasuror is doopy. > > 34. The Broker is avpx. > > I join this contract. > > I buy 10 treasury bonds. > > -root
Ahem. . . *Somebody* (AKA doopy) needs to set all of the things he's supposed to set (bond maturation, etc). avpx
