A Revolutionary Idea in Economics

A Revolutionary Idea in Economics
Article about the disruptive theory of an independent price scale made of "units of price" and its impact on the world economy

Example of global reference price to implement a price scale in units of price: 1 glass of mineral water = 1 unit of price (might vary, it is just a starting point for each market).

This article describes the idea launched by the twitter account @NobelEconomics. I believe the idea is a disruptive innovation for attaining a better world economy. Although it is a quite simple idea, it is a conceptual shift on how we use prices and money, that is, on how the price system relates to the monetary system.

The idea is here: Separation of the scale with which prices are expressed from the scale with which amount of currency is expressed and such separation accomplished by (1) the use of an international independent (from any currency scale) price scale and (2) variable conversion rates to relate currency amount to that independent price scale. The result is the creation of an independent unit for prices, independent from currency units.