5.3 Future Economics



We need to leave it to you to follow up with some of the suggested readings1See Bibliography.. They will help you make beginnings in discerning the eight tasks in various areas, as well as begin to appreciate the significance of that for human progress.

While the eight tasks are already subtly present, they have not yet been adverted to, generally. And, while the two types of production (basic and surplus) in economies are already present, they also have not yet been adverted to, generally. What will all of this look like together, economics’ new standard model and eight tasks pulsing progress2See “cyclic” in second last paragraph of Section 5.2; and McShane’s paper cited in note 25.?

A grasp, at the level of the times, of what that will look like is not yet available3More precisely, what is needed is a “heuristics” at the level of the times. See Journeyism Preface (fn. 7), 20 (fn. 10), 21, 22, 23 and 26.. That will be a remote future achievement. But, it is already evident that, among other things, the eightfold collaboration will provide the solution to the cultural part of the economics problem. It is also evident that economics’ new standard model is both local and global or, as is now often said, glocal. Implementing economics’ new standard model, economists will not appeal to non-verifiable models nor will economists be interfered with by political agendas.4“The control of the economy is for the many, and furthermore is not essentially a political issue. A parallel will help here. … The control of driving the standard car is certainly in the hands of the many, and certainly is not an area of political debate. There is a right way to get a gear-shift automobile to move and to accelerate. It is not a topic for parliament. What can be a topic for public debate is the use and abuse of the travel-potential that automobile represents, the manner in which this structures inner cities and outer linkages, etc.” (Philip McShane, Economics for Everyone: Das Jus Kapital (Vancouver, Axial Publishing, 2017): xv. More like in applied fluid dynamics, there will be applied economic dynamics, with glocally-informed provisional models. As Lonergan observed, the “practical economist [will be] as familiar a professional figure as the doctor, the lawyer, or the engineer.”5CWL21, 37. Some groupings of economists will have their attention focused on needs and possibilities for particular communities. Others may look more to regional and global issues. But, even while many supply chains are now global, goods and services are local. And so, economists will need glocal perspectives and glocal data.6“But, the massively innovative primers that would meet millennial needs, 500-page texts of empirically rich, locally oriented, normatively focused non-truncated writing, are distant probabilities” (McShane, ed., CWL21, xxxi).

Implementation of the eightfold division of labor will coincide with what elsewhere has been called the positive Anthropocene Age.7See note 25. Regarding the need and possibility of humanity reaching a positive Anthropocene, we would suggest the reader follow up on references provided in footnotes and in the Bibliography.8For further discussion, see Section 10 of Part II, Elements of Economics’ New Standard Model.

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