This post includes 3 parts, addresses the problem, includes a warning in the pure animistic tradition, and describes a solution by way of feedback to Pensinger.
1. Pensingers description of the problem.
time-shape and supply of capital
Nobel laureate Friedrich Hayek has stated that “…the only adequate description of th(e) ‘supply of capital’ is a complete enumeration of the range of output streams of different time shapes that can be produced from the existing resources”. Physicist Frank Tipler recognized this notion as being fundamentally quantum mechanical in nature. In his book THE PHYSICS OF IMMORTALITY (Doubleday, 1994) Tipler quotes Hayek on two occasions in observing that Hayek’s notion of total “capital stock” is equivalent to the many-worlds (or relative-state) interpretation of quantum mechanics offered in the late 50s by physicist Hugh Everett, III. This interpretation does not view the wave function as a probability amplitude; it regards the multiple-values of the function as representing real states. With an economic universal wave function, the many “worlds” would be the multiple time shapes of flux-partitioning which the global economy assumes under continuous chaotic self-organized far-from-equilibrium phase transition. The “supply of capital” is viewed as a multivalued function, as possessing complex-identity by virtue of being composed of a superposition of differing time shapes. Can this idea be the basis for an electronic exchange unit that carries multivalued, holistic information?
Think of parity relations between currencies in terms of renormalization schemata. Renormalization is a “block renaming” or scaling technique used -- on a model of a chaotic system with many scale-levels -- to determine parameters characteristic of the system’s movement to a state of self-organized criticality: a very high state of global (i.e., systemic) integration. Fluctuation of relative currency values is a kind of “block renaming”, absent the scaling technique which would reveal, in the market microdynamics, the desired holistic information about the instantaneous total state of the macroeconomy. Gold once was the exchange standard, that is, the universal exchange unit to which the various national monetary units were referenced. Though the value of gold under different systems historically varied, for each x currency, there was, at any given time, only a single corresponding y value in gold. Gold was a single-valued universal referencing exchange unit and, therefore, did not carry much information about systemic integration. The value of gold was not determined by the relative-state of the various national currencies. Had it not been set by regulatory decision, and had it been so determined by relative-state, it would have carried major components of information about the total state of the macroeconomy. Such a global process needs to emerge from self-similar processes within its nested scale-levels. What needs to replace gold is a multivalued universal referencing exchange unit, a unit whose values automatically fluctuate according to a global wave function representing the relative-state of the various national currencies. How can this wave function be constituted?
Consider the “weight” of a given currency as varying according to the “capital stock” of the given national economy (or other chosen scale-level partition), which is itself, according to Hayek, a superposition of the time shapes of the alternative income streams its resources can generate. Getting such a universal referencing exchange unit up and running, then, would involve overcoming a “measurement problem”(just like in quantum mechanics), and ascertaining the proper sorts of data gathering. How are “capital stocks” to be assessed?
A warning
2. To: da_cheif™ who wrote (35493) 11/13/2008 9:42:42 PM
From: Woody 1 Recommendation Read Replies (1) of 35510
Happy Sixth Day! .. mayanmajix.com
A solution
3.....how about applying the only rational solution to the problem of government issued money world wide?
We can proceed by utilizing Time Shaping Capital.
Producing currency on the basis of nano particlization by embedding copper, gold, silver and platinum bands through given currency based on each particular currencies sum of each countries total output.
This system would enable dynamic re normalization schemes onto governments with respect to output productivity of varying time shapes across the public and private sector.
The gross capital present, its efficiency, and its productive utility can than be measured. Utility of money within a given economy according to readily identifiable bands, sets a truly reflexive conditional argument of the current value of the various Time Shapes of Capital.
Its reflexive because it feedbacks information about private and public sector capital simultaneously.
The whole information about an economy can be printed into every currency producing self correcting feedback loops for those parts of any economy, identifying comparatively, both good and bad policy with respect to capitals output streams. |
