Evonomics – What is New Economic Thinking – continued

What is New Economic Thinking? continued

In reply to disqus_QZX8ENhLyb

The notion “There is nothing new under the sun, just the desire and will to see things differently” is very common, and thoroughly debunked.

Wolfram’s NKS clearly demonstrates that even the simplest of possible systems (a linear array of cells with only two possible states) can generate complex and unpredictable behaviour infinitely.

The evidence is now clear beyond any shadow of reasonable doubt that human beings are capable of creating and exploring novelty at potentially infinitely new dimensions and domains.

Novelty is in a very real sense what we as a species are all about.

In the sense that government was an expression of the idea that the problems of human social systems can be resolved by any set of fixed rules or processes, then Reagan was right ( “In this present crisis, government is not the solution to our problem, government IS the problem.”).

In the sense that social systems can survive and prosper without systems to detect, and remove all benefit received from the use of, cheating strategies on the cooperative that is human society, then he could not have been more wrong.

Human beings are very complex social organisms.
We require a cooperative society to survive. Cooperatives require secondary strategies to effectively prevent destruction of the cooperative by cheating strategies.
We also require individual security and freedom.

Effective social systems have to acknowledge both of those realities.

Human beings are creative.
We all have our habitual aspects, and we all have our creative sides.

Part of what we all do is explore novelty in some dimensions that interest us.

We have these very complex social, cultural, technological, philosophical and economic systems that have evolved around us.

We are now moving into domains of complexity where many of the old systems that can arguably be said to have served our ancestors well no longer work for us.

Chief amongst those systems is the very idea of exchange, of markets, of money and capital. These ideas, these ways of conceptualising and interpreting our reality are now in direct conflict with the notions of individual life and individual liberty that many of us claim to value so highly.

If the values of individual life and individual liberty are to have any real meaning, they must be applied universally.

In an age of exponentially increasing technological capacity, capable of fully automating the production and delivery of an exponentially expanding set of goods and services, using a notion of value based in scarcity (exchange value, market value, money, capital) becomes the single greatest threat to the security of all of us.

Yet most people are so habituated to using that frame of thinking, that it is almost impossible to think outside it, except when they think about things like love, like how they feel when they hold someone they care for, or see something of great beauty, but they are taught that those are something unrelated.

We all know what it is to value things outside of markets, and there are entire industries devoted to trying to convince us otherwise. Arguably, that applies to neoclassical economics as a whole.

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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