A new unified economic theory
Learn about a new perspective on economics. It views an economy as a web (a multi scale mathematical graph) of economic collectives that optimize their socially responsible revenue, not their socially exploitive profit. It unlocks the economic potential of firms to increase their value by ten times or more, and to grow to be up to a thousand times larger. It treats the micro equivalent to the macro. It coordinates monetary and fiscal policy. Most importantly it replaces destructive resistive control with sustainable Generative Artificially Intelligent (genAI) control.
This talk presents a new unified economic theory that relaxes the capitalistic diffusive approximation made for control so that there is coordinated, yet distributed, monetary and fiscal (print/grant investment) policy made to maximize GDP, not Discounted Cash Flow (DCF). This is a socialist, not a capitalistic metric, where the economic system is treated as a web (multiscale graph) of economic communes. The local microeconomics is treated like the global macroeconomics. The viscous forecasting and control is replaced by a Generative Artificial Intelligence (genAI) forecasting and control. The control is distributed (that is, democratic), not centralized (that is autocratic). Monetarism argues for only an autocratic (centralized) capitalistic (profit based) monetary control, and Keynesianism argues for only an autocratic capitalistic fiscal (borrow/spend investment) control. This new theory argues for coordinated democratic socialist monetary and fiscal control. It does have philosophical connections to African Ubuntu, the Economics of Mutuality, Modern Monetary Theory, and Marxian Economics. It also makes the connection between genAI and the physics of economic collective systems. The result is an economic system that maximizes the good of society, not an economic system that maximally exploits society.
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Slides and transcript: https://doi.org/10.13140/RG.2.2.15268...
Paper with details: https://arxiv.org/abs/2310.04986
Paper describing how collective systems behave: https://arxiv.org/abs/2401.04846
A general interest talk that has a good description of how collective systems behave: https://www.youtube.com/live/2TCGsht9-DM