[P2P-F] Beyond Present Economics......

[robert searle]

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  )
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