The science of Economics was formalized after the marginal revolution of the 1870's. Back then, the world was undeveloped, so a supply-dominant monopolistic resource allocation system made sense. But after everyone who needs a car or an iPhone already has a car or an iPhone, then such a system naturally creates more problems, especially for plants and animals who lose out in the extraction for the raw materials for those cars and iPhones.
Economic beliefs such as profit maximization and equilibrium have led to subsequent crises, the best known being The Great Depression of the 1930's which followed the very developed Roaring 20's. The failure of DSGE during the 2008 Financial Crisis proves the perpetual absurdity in Economics.
Well, not really. The problem is that money is just quantitative information devoid of any qualitative info such as morality. So there's no way to know if a coin was last used for an ethical or unethical exchange from the coin itself.
Metaphysically, money is the command of work. Having a lot of money gives the ego a big command of the work of other egos, giving a kind of superiority to the monied-ego. Since the ego is the feeling of the self, the monied-ego will feel superior to others, leading to arbitrary actions which encroaches on other egos, creating injustice and eventually, evil. SORAnomics uses the effort theory of value, facilitated by agreements which can store the ethics and ego-data, which is then processed by SORA Match in order to prevent injustice and the growth of evil. This prevents democracies from degenerating into tyranny and aristocracies from slipping into oligrachy, in Plato-speak.
Secondly, money destroys information in every exchange. If you work for 1 hour in exchange for $10, then your work-information generated in that hour will be overwritten by the $10-money-information. You don't remember most of what you did in every day of the first month of your first job, but you remember your first salary amount very well. In contrast, a labor-for-labor system would retain all the information about that labor, allowinig precision in labor-allocation. Why hire a plumber and a carpenter to fix your kitchen sink and dinner table, when you can just hire one guy that has experience in both?
Thirdly, money only works for goods and services that the mind can assign a value to at current moment. It doesn't work for things that have a not-so-obvious-value like the unseen labour being done by a rainforest in cleaning the air, the benefits of eating a healthy vegetable of which the effects do not manifest instantly, or inventions that will only have impact after long and costly research, such as space flight (that led to satellites) or quantum physics research (that led to microchips).
Can SORAnomics reduce corruption and environmentally-destructive commercial activities better than Economics? We'll tell you in 10 years after we get our data.
Everything in the world is purchased by labour.
David Hume (Essay I: On Commerce)
Capitalism wants profits but destroys the environment, as seen in the Amazon's destruction. Communism wants social justice but destroys freedoms.
SORAnomics is based on Smith's Wealth of Nations and Hume's Treatise of Human Nature. The former brings real wealth while the latter gives freedom, all bound by a moral system from the Theory of Moral Sentiments. In this way, the original goals of both Capitalism and Communism are achieved, respecting the role of all social classes and making them work together through their division of labour or teamwork.
Economics is based on Physics as proven by the extensive use of Calculus and the removal of Moral Philosophy during the mid-19th century. Prior to that, Economics was called the Political Economy which was largely based on law, morals, and not math, which can be dismal.
Economics was created by Paul Samuelson from MIT which is a physics school. In contrast, David Hume and Adam Smith came from University of Edinburgh and Glasgow which had a balance of arts and engineering.
SORAnomics comes with its own models to explain the root causes and effects of economic phenomena. This gives it a predictive ability that is lacking in modern Economics. In 2015, our model predicted an economic anomaly occuring in Q1 2018 which turned out to be the 2018 correction. The model predicts a much bigger crisis in a specific year between 2019 to 2030 and this is what we are preparing for (actually, the model has a year specified already in our submitted paper, but since revealing the future changes the future, it's better to make it ambiguous). Our models work in the real world because they are based on human nature (cause) and not on mere price movements (effect).
Crunching economic data into our models by hand was a lot of work, so we're creating the system to automate it, using everything from machine learning to offline mobile apps and analytics.
SORAnomics will use the SORA system of servers to feed essential economic data to a central analytics portal in real-time. It will use Purchasing Power instead of GDP, and grain values instead of currency values to sustain economies even during a financial crisis, as the main implementation of the effort theory of value. It can render information asymmetry obsolete since everyone can have access to the same information.
Do you need to know the global GDP right now, or find out how good or bad your economy is doing each day? Find them all on our portal!See our Purchasing Power Portal demo Learn how Purchasing Power can replace GDP
The Physiocrats invented the economic table 250 years ago which traced the supply chain in order to create a cohesive economic system to rival the money-based Commercial (mercantile) system. The Commercial system won and became Economics and e-commerce. Our system brings back the Physiocrats' ideas in order to compete with modern merantilism which creates trade warsand environmental destructionjust as it did 250 years ago.
In the spice islands, the Dutch burn all the spiceries beyond what they expect to dispose of in Europe with profit. This SAVAGE POLICYhas now almost completely destroyed all those trees.
Do you want to know if your tofu was sourced from the Amazon's destruction? Or if your smartphone is contributng to war in Africa? Or how you can quickly rebuild your supply chain after a natural disaster? The economic table can help.
Economists can be converted to SORAnomists to work on each decentralized economic node, instead of working for centralized finance, research, or the public sector as is the usual career path in Economics. We estimate that one SORAnomist is needed per 100,000 population and will have an objective-subjective skill set. The objective being represented by Data Science and the DevOps to collect and serve that data. The subjective being SORAnomic science and the moral philosphy on which that science is based. In contrast, Economics is mostly objective, lacking a proper moral foundation.
A global population of 7 billion people, would need 70,000 SORAnomists, or double the staff of Facebook
A bank's core competency is the trust and security that it provides for storing precious things. SORA evolves these stores of value as transactions to turn banks into transaction storehouses.
Adam Smith's decentralized economic system integrates seamlessly with the decentralized political system proposed by his best friend, David Hume. If you feel that your country's democracy has been hijacked by a foreign country or vested interests, then this system is for you as it will have so many nodes that it would be difficult for any group to control all.
The problem with democracy is the same as the problem with money: freedom has no moral quality attached to it. A democratic system could spread goodness, but also could spread evil at the same time. This is easily seen in real news versus fake news and in good officials being elected along with corrupt ones. Our regulated democratic model has a dual morality system baked in, to better make sure that goodness is spread while evil is checked.
"As one form of government must be allowed more perfect than another, why may we not enquire what is the most perfect of all..though it be not so easy to establish a new system of government? In some future age, an opportunity might be afforded of reducing the theory to practice, by the combination of men to form a new one, in some distant part of the world" -- The Idea of a Perfect Commonwealth
* SORAnomics focuses directly on the happiness of society, including those of animals, whereas Economics focuses on getting money (which is shallowly thought to bring happiness)
Find out how SORAnomics turns the economy into a dharmic system that allows everyone to achieve their goals in life.
Know the cycles of revenue in order to keep wages stable and avoid budget deficits and recessions.
Find out how Purchasing Power replaces GDP as a measure of a society's wealth, without needing any new arbitrary index.