Attera announces Economic Reforms

The Solomonic Empire of Attera has announced major changes in how its economic simulation will operate. Known best for its economy based on the MCS Resource Map, the nation has been unable to operate its economy since leaving the Micras world map. The Imperial Ministry of Economics announced today that the Atteran economy will no longer deal with simulated resources and goods, but will move to a real goods and services based system.

A real goods and services economy, in terms of micronations, is an economy based around creating web sites, images, publications, and other services such as financial services. While not as diverse as a simulated product economy, since the core, if not the only, industry in the real goods and services system is the internet, there are still many different, innovative products that can be created.

The Imperial Ministry of Economics also stated that it is developing the new system to be as complex as possible (up to the point where if developed any further, you’d need a degree to understand it). The goal of this is to allow for the creation of a wide variety of financial services businesses, which are an important part of the economic model. One development is an income tax system, which will of course be modified over time as the economy evolves. The income tax system will replace the current flat 10% federal tax rate on bank accounts.

It is expected that the new economic statues will be released to the public by the end of this month. Meanwhile, trials on the micronational banking program developed by Joe Sendler and Hoefensfill is expected to begin in June at the earliest. A decision on whether or not the Atteran Imperial Bank will switch to the program should be made by summer’s end.

About the Author

Liam Sinclair
Owner/Senior Editor. One of the longest-serving micronational journalists, Sinclair started reporting in 2001. His work has since been recognized by several community awards.
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