Note: This website is brand new, and we are developing it with MODx, which we are just learning. What you see here is not how the website will eventually look.
Is economics a science? There sure is a lot of math! Science is always evolving. What we think we know today, we revisit tomorrow. Theories abound, but isn't the Devil in the details. Or is the proof in the pudding. Here's what I mean.
Think of the history of medicine, all the wacky ideas Doctors promoted in the past but today we know as folly. Seems like after a couple of centuries of medical "science" we are now only awakening to the fact that we have to look so very close at the details. So now we look at the DNA of cancer, and patient specific blood chemistry to find targeted treatments. We have to look so very very closely at the real world facts.
We need to examine the patient this closely in economics. And the patient is the economic policies and models of modern industrialized economies. We need to look at the facts. Only then will we know what truly works. Thankfully, we have developed quite a bit of patient history to study.
In particular, using GDP as an indicator of economic success is dated. But how do you measure Happiness? And how do you measure the effectivenss of economic policies such as levels of taxation and the trade-off of taxes vs. social services. It is generally accepted that certain social services be paid for publicly, such as Public Safety, roads and highways, national defense, and in most developed countries, Health Care. The market approach to Health Care in the USA does not appear to work well, do others approaches offer lessons to learn?
Our objective is to take a wholistic look at economics, develop comprehensive indices of economic perfoormance and show these with "dashboards". (Hint: Check out the these Dashboards. Also, review the work of Joseph Stiglitz, Amartya Sen, and Jean Paul Fitoussi in developing comprehensive indices: Mismeasuring Our Lives: Why GDP Doesn't Add Up and Report of the Commission on the Measurement of Economic Perfomrance and Social Progress.)
Additionally, we want to examine the facts very closely, meaning we want to comparatively study the economic history of modern economies and see if we can coax out an analysis and formulas that will drive our Dashboard, and give us a better idea of which policies work well, and which do not.
Is exploitation required?
For most of mankind's history, the comfortable to lavish lifestyles a few depended on the exploitation of many.
How can enough wealth be generated, and in what form, for such that it distributed equitably and sustainably?
Does it require a unique time in history for this to occur, a time such as our own when we have built a strong enouhg economic engine?
1. What is a "healthy" distribution of wealth?
2. What is wealth? (When it evaporates so quickly, is that "wealth". Or is the true "wealth" in our system and culture)
3. What are "healthy" levels of taxation? We need taxes, but how much.
4. What social services need to be built into the system - Roads, Defense, Public Safety are givens. Most other developed countries build in Health Care and Pensions.