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Humanity has made great progresses in what concerns the invention and use of instruments for measuring. We are now able to measure fairly exactly nearly everything on earth: size, speed, amount, degrees of temperature, length, height, pressure, weight. Even earthquakes can be measured using a scale proposed by Richter.
Instead, in medieval times measurement was inadequate and arbitrary. Concerning the matters mentioned above and some others not mentioned medieval habits have been overcome. One of the most important preconditions for reliable measuring is the calibrated constancy and universal use of scales with standard units. When cubits were used this constancy was not guaranteed. And if scales are changed while measuring is done no exact results are possible. Scales ought to remain constant. That's why the Parisian meter was a very important invention although some little inadequacy still remained because of the influence of temperature on metal. Modern methods have overcome even problems of that kind.
But while size, speed, amount, temperature, length, height, pressure, weight and earthquakes can be measured today in a fairly reliable manner, the situation remains medieval in another very important field, - perhaps even one of the most important. In economy still reigns medieval inadequacy and arbitrariness although renowned scientists have considered the matter for centuries. Values, performances and production output - i.e. the value of products and services - are measured and expressed in standard units that at the same time are merchandise, i.e. goods to be bought and sold at varying prices: the currencies. Thus, in a globalized economy the values of products and services vary according to variability in two respects:
First, because the values of products and services depend on the balance of offer and demand.
Second, because the currencies in which the values of products and services are noted vary in consequence of changes in the demand for these currencies.
But nobody seems to see this as problematic. In more than three centuries of thinking and research economists did not find out - as far as I know - what I have presented here.
I think, the probable reason is the following: The basis of modern economy is not need but greed. There must be vested interests of various influential persons as politicians, bankers and other profiteers of the actual situation which is a result of globalization and through which powerful speculators became again uncontrollable.
We cannot wait for measures of hundreds of governments to stop this boom of neoliberalism because dangerous crises will arrive soon.
What could be done?
The first actions should remedy the misery that money actually has two functions: First, it serves as a measure for values and services. Second, it is valuable itself and serves for storing value. These two functions ought to be separated as was done for example for weighing because the value of a balance in no way influences the value of the goods weighed even if it serves for weighing gold. A fixed measure without value - a kind of unit for calculation - is needed as was realized for some physical quantities by the International System of Units (SI).