Economics – Smith or Darwin

Evonomics – We Had It All Wrong. Adam Smith Isn’t the True Father of Economics

It was Darwin!

Yes Darwin’s insight was deep, and we have gone so much deeper into the power of evolution, levels of strategy, competition leading to cooperation, exponential increments available from higher level cooperation etc.

The power of cooperation, and the vulnerability of cooperatives to cheats, and the sorts of classes of strategies that must be deployed to prevent cheating are now well understood.

Our current economic models seem designed to protect and preserve cheating within the existing frameworks.

Where one genuinely puts a product to a market, and the characteristics of the product are clear and visible to all, then a market can set a fair price and everyone benefits (such things are rare in today’s world).
It seems that there is a vast amount of effort in our society to distort and hide the actual characteristics of products, to focus on the near term benefits to the exclusion of long term risks.

We are a fundamentally cooperative species, being forced into thinking we are creatures of competitive self interest.
Sure we can all compete when required, and the vast majority of us will cooperate if it seems like a reasonable idea in the circumstances (and in circumstances of relative abundance, it is always a reasonable idea).

We could be using the cooperative principle, with advanced distributed technology, to develop decentralised and distributed trust networks to empower universal cooperation.
Such things are technically possible and mathematically stable, and they have the attribute of breaking existing monetary and legal systems as a side effect of delivering universal abundance of most goods and services (and thence are resisted at many “conservative” levels within culture and society).

About Ted Howard NZ

Seems like I might be a cancer survivor. Thinking about the systemic incentives within the world we find ourselves in, and how we might adjust them to provide an environment that supports everyone (no exceptions) - see www.tedhowardnz.com/money
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