This is the public site of our proposed science of SORAnomics or 'Political Economy version 2.0' which is meant as an alternative to current economics or 'Mercantilism version 3.0'.
TLDR: Economics is what happens when you think only of yourself and what you can buy or sell. The focus is on the objects. Budgeting = economizing.
SORAnomics is what happens when you think of yourself as a part of society and what you and others are buying and selling. The focus is on the people. Objects are just secondary.
It is a subset of Social Superphysics which is a part of Superphysics derived from David Hume's Science of Man, which is a paradigm that sees the universe as waves (sentiments, cycles) instead of as particles (money, atoms).
It is in the same camp as the Socrates-Plato (Western) and non-dualistic Hindu-Buddhist-Taoist (Eastern) family of beliefs. It is opposed by the dualistic camp of Aristotle, Dialectic Materialism, and Objectivism (Western) and the caste system and Confucianism (Eastern).
Economic science was created in the 19th century by intellectuals who championed the cause of businesses, which is to maximize profits based on the paradigm of personal utility or pleasure for the benefit of the self. This is in stark contrast to the old science of the Political Economy which advocated to maximize the benefit of the whole society through proper government policies and regulation, and was based on moral philosophy.
"The market equilibrium comes at that price and quantity where the forces of supply and demand are in balance. At the equilibrium price, the amount that buyers want to buy is just equal to the amount that sellers want to sell. The reason that we call this equilibrium is that, when supply and demand are in balance, there is no reason for price to rise or fall, as long as other things remain unchanged." Economics
"Nothing can be more absurd than this doctrine of the balance of trade [modern equilibrium]. This doctrine supposes that when two places trade with one another, neither of them loses or gains if the balance be even. But if it leans in any degree to one side, that one of them loses and the other gains, in proportion to its declension from the exact equilibrium. Both suppositions are false. A trade which is naturally carried on between any two places is always advantageous, though not always equally so, to both." Wealth of Nations Book 4
"Within the co-operative society based on common ownership of the means of production, the producers do not exchange their products; just as little does the labor employed on the products appear here as the value of these products, as a material quality possessed by them, since now, in contrast to capitalist society, individual labor no longer exists.. The phrase "proceeds of labor"..thus loses all meaning.' Critique of the Gotha Programme Part 1
The Political Economy was replaced by Economics through the marginal revolution in the 19th century. This revolution created the philosophy that created liberal economic systems which allowed the rapid but unsustainable economic growth of the Western world in the early 20th century. It was unsustainable because, although it produced the prosperity of the Roaring Twenties, it also created the Great Depression which prompted people to look for alternative philosophies like Nazism, Fascism, and Communism, eventually leading to World War 2.
Most of human history
Human ego and selfishness naturally creates despotism which humans try to solve with alternative systems such as monarchy, democracy, socialism, Islam, etc.
Began with Marx and the Communist Revolution in the Soviet Union and ended with its collapse. This line of thinking is domiinated by the working class or those who live by wages
Began with state capitalism in China with Deng marrying Western Capitalism with Marxism, and Xi adding Confucianism
Began with Thomas Mun's bookand ended with the Independence of America and the decline of Mercantile Companies. This line of thinking is dominated by the oligarchs or business-class as those who-live-by-money.
Began with the Marginal Revolution and ended with the Great Crash and Depression
Began with Bretton Woods and ended with the 2008 Financial Crisis
Political Economy 1.0
World Wars Period
Political Economy 2.0
Began with the Economists of France and ended with the Napoleonic wars. This line of thinking is dominated by intellectuals as those who-live-by-donations (as research grants).
The absence of any propoer economic or moral system leads to wars such as the world wars, cold wars, war in Vietnam, Koreas, Iraq, etc.
Scheduled for the 2020s after the Great Stagflation wipes out both money and employment of the business and working class, prompting them to look for an alternative system for their own sake.
Social Superphysics organizes societies into four classes, derived from Plato and the Vedas.
In SORAnomics, workers, rulers, and merchants work together. Unlike Communism, there is no class struggle. Unlike Capitalism, people get the fruits of their own labour. The four classes match the four varnas of Hinduism and the four governments of Plato as Aristocracy, Tyranny, Oligarchy, and Democracy respectively, unifying East and Western social philosophies.
Our system aims to use the timeless maxims of Adam Smith to create a sustainable system based on the Effort Theory of Value, maintained by socio-economic justice, and grown through beneficence and fellow-feeling. These systems prosper slowly but surely, instead of having boom and bust cycles.
Key to this new science are the following:
The fundamental concept of svadharma or each entity, whether human, animal, or plant, having a purpose in existence. In humans, this translates to everyone having a role in society, which was fully explained by Plato.
Using Social Superphysics as its base, which we implement from David Hume's Science of Man. We use internet technologies to get data and data science to automate the crunching of:
The creation of the philosophy of Moral Consequentialism based on Hume's doctrine of consequence or 'necessary connection' to oppose the doctrine of freedom (as seen in the philosophy of liberalism and neo-liberalism)
Using Smith's dual private-public moral system rooted in beneficence and fellow-feeling as the foundation of economic systems, instead of utility. These ideas are ingrained in Hinduism and Buddhism as svadharma (specific) and dharma (general), so we rather point to those sources so we don't have to explain it.
Refuting or modifying some fundamental models of Economics:
The effort theory of value of Adam Smith will use commodity-based valuation as a store of value, as opposed to utility-based pricing whch naturally leads to money being a store of value. This will then relieve money of its dual role as store of value, and instead using it solely as a tool for trade. This means cryptocurrencies like bitcoin can be used for trading but not for investments nor to store value.
Using social companies instead of corporations as the main SORAnomic business organization. Social companies are what Smith called 'private adventurers' now known as LLCs (Limited Liability Companies) and LPs (Limited Partnerships) which he suggests to be limited to around 150 people as Dunbar's number. Such companies then form social contracts between each other to form social conglomerates. Unlike a corporation, these are not a separate entity, but a representation of its owners through the social contracts that they make. The modular and agile nature of social companies and conglomerates allow resourcization which is the opposite of monetization and is the foundation of the social banking.
To scale the system, machine learning will be used through ISAIAH or the Impartial Spectator Automated Intelligence Aggregation Host which will not have ego, making it the ideal regulator. Software and data can outlive humans and so this system will easily outlive the humans who create them.
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