Some Key Points, and Transfinancial Economics...
There are certain key reasons why TFE is far more superior to Neo-Classical,
and Heterodox Economics. They are basically the following.
I) The recognition of seeing money as being electronic data which can be
created, and transmitted to bank accounts. It is understanding the huge
significance, and importance of this which is absolutely crucial. This requires
genuine creative vision rather than academic knowledge which tends to confuse
matters rather than clarify them.
II) With advanced stage TFE via Electronic Transaction Monitoring (ETM) we
could get a "picture" of the Real Economy in Real-Time, 24/7. This means that
future economists would have a far better idea of the actual workings of the
economy itself rather than relying on "indirect" Economic Indicators of varying
degrees of "accuracy," as well as Econometric type theories. This could prove
invaluable for government planners, and more importantly, businesses. Note the
word businesses as we are not talking about an authoritarian Soviet style
planned economy. Unfortunately though, none of this can fully rule out
uncertainty but economic forcasts may become more accurate using raw electronic
data literally from the Real Economy itself.
III) With advanced TFE it would be possible with real confidence to create new
money electronically by special Facilitation Banks (or by democratic
governments if, and where necessary in a highly transparent fashion) . This
means that many things could be funded properly on a huge scale. It could be
used in full, or in part to ease funding for governments, charitable NGOs, and
notably green businesses. The only limitations to this is not man-made money
but efficient planning along with human, and natural resources.
IV) With ETM we could get a highly accurate understanding 24/7 of the resources
used in the Real Economy.This will become increasingly important in the future
as the planet has only a finite amount of them.
V) With advanced TFE, and ETM there are no-time lags in the electronic
"fine-tuning" of the economy. It is as instaneous process which occurs notably
at
the point of sale (ie. EPOS). Thus, more blunt policy instruments like
interest, and taxation could be phased out altogether.
Obviously, the above raises all sorts of problems but they are not insoluble.
This would ultimately require the help of economists, computer scientists,
lawyers, et cetera to make it a credible proposition.
Ofcourse, we cannot have a completely perfect understanding of the Real Economy
itself but we could have a t least a Near Perfect Knowledge of the Economy.
This is vital for future economics if we are really serious about the subject.
Like Keynes I do not hold a degree in economics (and probably just as well!!!),
and Marx himself was self-taught in this regard. Yet, both individuals probably
have had far greater influence than any academically recognized economist.
Naturally, there will be critics of TFE when things get moving. This is
inevitable as the implications of it for society, the planet, and humanity are
colossal, and revolutionary.
It can work for, or against the rich, and super rich. Personally, the best way
forward probably is for TFE to work with banks, corporations, and governments
in such a way as to facilitates its introduction into the world.
I should also add that the above "statement" cannot do the whole subject of
this paradigm real justice. There are many aspects to it.
Finally, any feedback to the above would be welcome either privately, or
publicly on this site.
Robert Searle (link again
http://www.p2pfoundation.net/Transfinancial_Economics )
_______________________________________________
P2P Foundation - Mailing list
http://www.p2pfoundation.net
https://lists.ourproject.org/cgi-bin/mailman/listinfo/p2p-foundation
