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The True Economic Value of Your Vote: Why Metrics Matter in Understanding Democracy.

At the heart of every democratic society is the simple yet powerful act of casting a vote. Beyond its symbolic affirmation of civic rights and responsibilities, voting also has a substantial economic dimension that often escapes attention. As we unspool these threads of financial intricacy, one starts to realize the monumental financial might tucked away in each vote. Let’s walk through this thought process.

Deciphering Economic Metrics in the Context of Voting:

Economic metrics—GDP, monetary supply, and national assets—are not mere figures in annual reports. They are a tangible representation of a nation's economic strength and potential.

  1. GDP: It quantifies the total produced goods and services, painting a picture of a country's economic health

  2. Monetary Supply: This reveals the total money available in an economy, hinting at liquidity and spending capacity.

  3. National Assets: This metric amalgamates both physical and financial assets, signifying a nation’s accumulated wealth.

Mapping these onto our individual votes lets us quantify the financial clout each voter possesses.

A Deep Dive into the Numbers:

UK:

  • Voter Metrics: Out of its 67 million populace, the UK has about 46 million eligible voters.

  • GDP: With the 2019 GDP at £2.8 trillion, each vote is linked to a staggering £60,869. Over an MP's 5-year term, that equates to £304,345.

  • Monetary Supply: With a money supply (M4) of £2.4 trillion in 2019, each vote influences £52,174, or £260,870 over five years

  • National Assets: At £10 trillion total assets, each vote holds sway over £217,391 annually, or £1,086,955 over an MP's term.

USA:

  • Voter Metrics: Of the total 328 million, about 239 million Americans are voters.

  • GDP: The per vote value stands at $89,540 annually. For a House member's 2-year term, this value doubles to $179,080.

  • Monetary Supply: At an M2 money supply of $15.5 trillion in 2019, each vote has a say over $64,853 annually or $129,706 across two years

  • National Assets: With assets worth $153.5 trillion, each vote encompasses a yearly value of $642,262, shooting up to $1,284,524 over two years.

The Astonishing Power Delegated Over an Elected Term:

Taking these figures into the context of an average-sized town with 100,000 eligible voters, the financial magnitudes an elected official represents are genuinely astronomical.

In the UK, over their 5-year term, a representative, backed by the mandate of their voters, would have influence over a GDP value of £30.4345 billion, monetary supply worth £26.087 billion, and national assets amounting to £108.6955 billion.

In the USA, during a 2-year term, an elected official would represent a GDP value of $17.908 billion, a monetary supply of $12.9706 billion, and a staggering $128.4524 billion in national assets.

The Gradual Erosion of an Elected Official’s Influence:

While elected officials begin their terms with substantial power, this influence gradually tapers off as they approach the term's end. This decline mirrors their diminishing direct impact on these vast economic pools, affecting their leverage in negotiations and policy-making.

Direct Democracy: The Power Always in Your Hands:

Direct democracy is not merely an abstract political concept; it's the embodiment of truly empowered citizenry. By ensuring that citizens participate directly in decision-making processes, every individual continuously wields their economic power, instead of passing it off every few years.

Take Switzerland as an illustrative example. Swiss citizens, through a system of regular referendums and initiatives, have the opportunity to vote on various national, regional, and local issues multiple times a year. This means their say is not limited to merely electing representatives, but they actively shape policies, legal changes, and even budgetary allocations.

Let’s calculate this continual economic influence using the earlier metrics:

Assuming a conservative estimate of 12 votes per year (one per month), an average UK citizen, over their lifetime of 80 years, would vote approximately 960 times. Given their annual vote value derived from GDP is £60,869, their lifetime direct influence in a direct democracy model amounts to a whopping £58,435,040 (vote value * votes per year * 80).

In the USA, with an annual GDP vote value of $89,540, a citizen, over their lifetime in a direct democracy, would have an influence equivalent to a staggering $85,958,400 (vote value * votes per year * 80).

Beyond numbers, retaining this economic power has implications. In a direct democracy, the citizenry remains vigilant, informed, and actively involved, as they're continuously making decisions that affect trillions in GDP, assets, and money supply. It fosters a sense of accountability and ownership amongst the populace, diminishing the chances of decisions that cater only to niche interests or short-term gains.

Holding onto this vast economic power also reduces potential bureaucratic inertia. Citizens can swiftly react to changes, challenges, or opportunities, ensuring that the nation remains agile and responsive. In essence, the economic clout vested in each vote becomes a dynamic tool for change, wielded in real-time by the people directly affected by decisions.

In contrast, traditional representative democracies involve handing over this considerable economic might to a select few for extended periods. While representatives might act in the public's interest, they invariably bring their biases and pressures—often making decisions that, while beneficial for some, might not cater to the broader public's aspirations or the nation's long-term health.

In conclusion, direct democracy not only ensures that the tremendous economic potential associated with every vote is perennially active but also roots the decision-making process deeply in the collective wisdom and diverse perspectives of its citizens.

Wrapping Up

In casting a vote, you’re not just choosing a representative; you're entrusting them with an astonishing economic power that spans billions, if not trillions. It's crucial to fathom the weight of this act. As democracies evolve, perhaps it's time to rethink our model. Do we continue entrusting this might to representatives, or is it time for a more direct exercise of power? Direct democracy offers a tantalizing alternative, ensuring that the monumental economic power inherent in every vote remains perennially active and directly influential.