Revised November 17, 2013
The Open Market Construct is the third important Axiom in Economics. The first important Axiom in Economics is; ALL MONEY IS CREATED THOUGH AND BACKED BY PRODUCTION. The second important Axiom in Economics is; THE PEOPLE WHO CREATE THE PRODUCTION OWN THE PRODUCTS AND THE MONEY RECEIVED FOR THE PRODUCTS WHEN THEY ARE EXCHANGED ON THE OPEN MARKET. When the producers exchange the production on the Open Market they own the money units received for it. The fourth important Axiom in Economics is; MAINTAIN A CONSTANT MONEY SUPPLY, NO EXCEPTIONS. Maintaining a constant money supply standardizes the entire Economic System. This is like the Metric System being standardized with the standard meter.
The Open Market is a Market. The Open Market Construct is defined in the Producer Rewarded Open Market Economic System. All Markets exist because of supply and demand forces. If there are no supply and demand forces, there are “no Markets.” The supply and demand forces inject life or dynamics into a Market.
The most important parts in the Open Market Construct are (1.) The Open Market is “open to all on equal terms,” (2.) The Open Market is a “pure supply and demand” marketing system and (3) The Open Market is, restricted to Producers and only Producers.” The Open Market is restricted to the activity of Producers because, Producers create all Markets. Non-producers and counter-producers destroy Markets and thus, are excluded by their nature. They have excluded themselves by being a counter force to the force dynamics that operate all Markets. In this case they are a counter force to the Open Market. They, at some time, have made a decision to be a counter force to the existence and prosperity of the Market and themselves, organization, societies, nations, and mankind. The Open Market Construct is activated and propelled by the supply and demand principles used by Producers. The Producers use the supply and demand principles when purchasing and selling commodities, trades, goods and services on the Open Market.
Producer Rewarded Open Market Economics
The Science of Economics
By RP Obrigewitsch
October 2, 20011