Here it is...
I. Determining a Nations Economic Health
A. The economic health of a nation shall be determined by a few major factors, deficits, accumulated debt, government spending, government income tax revenue and corporate taxes.
1. Deficits are defined as figures in the budget that indicate a nation is spending more than what it takes in.
a. Deficits that are over 5% of a nation's GDP, the economic health of that nation shall be in a negative condition.
b. Budget Deficits that are over 10% of a nation's Total Revenue, the economic health of that nation shall be in a negative condition
c. Deficits in times of economic crisis (formulated by the community for the purposes of RP) are fine, so long as they are realistic (think about the spending of nations during the Great Depression).
d. It will be the responsibility of the community to report the deficits of other nations, should they be concerned about impact on RP, as well as the duty of moderation to regulate in the instance of a lack of realism.
2. Debt is defined as the sum total of deficits and surpluses a nation has accumulated over time.
a. A total debt exceeding 50% of a nation's GDP will indicate that said nation's economic health is negative.
b. It will be the responsibility of players to keep track of their debt and report them to the community in order to ensure realism.
c. Moderation will also have the duty of regulating conflicts concerning debt during RP if the realism factor is not maintained.
3. Government Spending as percentage to the GDP can be viewed from the GDP table on a nations economic page, this would indicate how much influence the government has in the economics of it's country.
a. If the government spending surpasses 70% of the GDP, then that nation should role-play an extremely leftist economy, that includes mistakes in planning, and mass emigration out of the country.
b. If the government spending fails to surpass 20%, then that nation should role-play an extremely rightist economy, that includes higher-than-average poverty and mass immigration in to the country.
c. It will be the responsibility of the community to keep track of their spending percentage and report them to the community in order to ensure realism
d. Moderation will also have the duty to regulate conflicts concerning spending percentage during RP if the realism factor is not maintained.
4. Government Income Tax Revenue percentage to the GDP are calculated by dividing the income tax revenue on the economics page with the GDP, this would indicate and determine the income tax burden of a country
a. If the government income tax revenue surpasses 30% of the nation's GDP, then that nation should be considered a high-income-tax country, and should take into account tax evasion and unreported employment in it's RP.
b. If the government income tax revenue fails to surpass 15% of the nation's GDP, then that nation should be considered a low-income-tax country, and should take into account being a tax-haven and high consumerism in it's RP
c. It will be the responsibility of the community to keep track of their income tax revenue percentage and report them to the community in order to ensure realism
d. Moderation will also have the duty to regulate conflicts concerning income tax revenue percentage during RP if the realism factor is not maintained.
5. Corporation tax is defined as the rate a government charges on corporation profits.
a. If the corporate tax is equal to or lower than 25%, then that nation would be business-friendly and should be role-played as such
b. If the corporate tax is equal to or higher than 50%, then that nation would be business-unfriendly and should be role-played as such
c. It will be the responsibility of the community to keep track of their income tax revenue percentage and report them to the community in order to ensure realism
d. Moderation will also have the duty to regulate conflicts concerning corporate tax rates during RP if the realism factor is not maintained.
II. Currency
A. The current currency system put in place by the game based upon the LOD will remain the default and official currency system of Terra. The exchange rates can be found here: http://classic.particracy.net/rates.php
B. Trade and spending bills amongst nations are encouraged to keep track of military equipment, resources, supplies, and general aspects that have to do with the economy and economic health of nations.
III. Regulation
A. It is the duty of both the community and moderation to regulate this system and report our findings to the community.
B. Each individual nation will have control over what businesses exist, what resources they have, what they specialize, and all of the micro-aspects of an economy, players must simply recognize these characteristics amongst themselves.
C. These are not specifically meant to formally label the countries economically, but more as a guideline how the countries should be RPed to ensure realism
D. If realism is not used in an RP based upon the above, moderation reserves the right to intervene and maintain the realism factor, the main point of these protocols are to ensure realism, and to reiterate that no nation can have it all good and fine economically.
E. This is an OPT-IN system. Each nation must pass am OOC bill with a 2/3 majority saying that they will support and uphold the Economic Protocols.
EXAMPLES ON THE NEW TAX-SYSTEM:
So let's say Maoland has the following economic data:
75% Spending
40% Income tax revenue
75% Corporation taxes
Then Maoland should take into considerations things like planning mistakes by the government, mass emigration to other countries in search of prosperity, tax-evasion in the country, black markets and unreported employment, and has little to no private business or corporations in the country.
Now let's say we also have Ronpaulistan with the following economic data:
10% spending
5% Income tax revenue
0% Corporation tax
Then Ronpaulistan should take into considerations things like homelessness, poverty, parts of the population with a lower social-economic standings, organised crimes, lot's of corporation and businesses, consumerism and corporatism, mass illegal immigration
Moderation hereby submits these (revised) Economic Protocols to the community for comments, concerns, and possible additions.