[FRIAM] The case for universal basic income UBI

Fri May 14 02:59:35 EDT 2021

Finance 4.0—Towards a Socio-Ecological Finance System

A Participatory Framework to Promote Sustainability

Download link:
https://link.springer.com/content/pdf/10.1007%2F978-3-030-71400-0.pdf

On Thu, 13 May 2021 at 22:21, David Eric Smith <desmith at santafe.edu> wrote:

> I heard a nice story at an annual meeting a long time ago: maybe seven or
> eight years now; maybe a decade.  It was in a side-conversation, told by
> some high-flying economist who had been in the room where it happened.
> This was soon after Obama had appointed Tim Geithner to try to repair the
> mess of the 2007/2008 banking system collapse.  Geithner was in one of the
> relatively early meetings with the bankers for whom he was trying to devise
> some regulatory scheme.  The bankers were reassuring him that no scheme was
> needed, because they would self-regulate.
>
> As I heard it told, Geithner answered immediately, with an expression that
> it is easy for me to visualize:
>
> “Right.  So self-regulation is to regulation as self-importance is to
> importance.”
>
> That of course doesn’t purport to be a statement about limits to what
> could be possible in principle.  Just an assessment in the context in situ
> at the time, of what would be the outcome of immediate decisions.
>
> Eric
>
>
>
> On May 14, 2021, at 4:11 AM, Pieter Steenekamp <pieters at randcontrols.co.za>
> wrote:
>
> Re
> *Ultimately, I am probing the group to see what kinds of frameworks eachof
> us has in mind.*
>
> My choice is a self-regulating participatory market society.
>
> I quote from Dirk Helbing's Economics 2.0: The Natural Step towards A
> Self-Regulating, Participatory Market Society
> https://arxiv.org/abs/1305.4078
> "I argue that, as the complexity of socio-economic systems increases,
> networked decisionmaking and bottom-up self-regulation will be more and
> more important features. It will be
> explained why, besides the “homo economicus” with strictly self-regarding
> preferences, natural selection has also created a “homo socialis” with
> other-regarding preferences. While the “homo
> economicus” optimizes the own prospects in separation, the decisions of
> the “homo socialis” are self-determined, but interconnected, a fact that
> may be characterized by the term “networked minds”. Notably, the “homo
> socialis” manages to earn higher payoffs than the “homo economicus”."
>
> Interesting is the youtube presentation by Dirk Helbing about his new
> book  Next Civilisation at
> https://www.youtube.com/watch?v=8TtSNNaNZTc&t=26s
>
>
>
>
>
>
> On Thu, 13 May 2021 at 19:55, jon zingale <jonzingale at gmail.com> wrote:
>
>> Each of the three citations was meant to evoke, distinct though related,
>> approaches to assigning quantities to qualities of networks. The Levine
>> paper[1] focuses on a technique for flattening a food web onto a chain
>> (trophic level). What I find novel is that the technique appears robust
>> to loops (cannibalism like breastfeeding) as well as larger circuits or
>> cliques (scavengers of all types and colors). I am also impressed by the
>> straightforward nature of the calculation familiar to all that work with
>> absorbing Markov chains[KS]: Reorder the transition matrix so that pure
>> source components come first, partition the position vector similarly,
>> find the fundamental matrix and then solve for position. Levine then
>> goes on to point out that the variance of path lengths gives a nice
>> measure of trophic specialization.
>>
>> I became familiar with the Spring Rank algorithm through conversations
>> with its authors, and became more intimately familiar through recent work
>> applying the algorithm to networks of exchange. The central idea, there,
>> is that we can imagine an exchange network as a mechanical system of
>> weights (individuals) and springs (whose tensions correspond in some
>> way to transactions between individuals). There (and maybe this is how
>> it might correspond to Marcus' criticism) we write the Hamiltonian and
>> solve for position. In the work, my collaborators and I were (are?) doing,
>> we researched how such a model can be used as a suggestion engine for
>> *giving* exactly because one could suggest non-trivial ways to *balance*
>> one's exchange network.
>>
>> Lastly, the reference to gauge-theoretic economic models is one where we
>> can apply an abstract notion of curvature or (cohomologically) measure
>> the distance from *exactness* flows experience on a given circuit. I would
>> not be surprised if this relatively new approach is already finding itself
>> useful in applied economics. My feeling is that the tools already exist
>> (to an extent more than we know, though less than we really want) and
>> that application is where things go awry. Also, I am unsure to what extent
>> these approaches land within the already stated criticism put forth by
>> Marcus. I haven't looked at the Kirkley paper. I suppose I wanted to
>> ground the models in some calculations so that we can more clearly argue
>> their merits.
>>
>> To my mind, assigning qualities to graphs, like assigning qualities to
>> numbers, comes with a certain hermeneutic burden. OTOH, there is a
>> continued effort to discover sensible properties that graphs may have,
>> that is, the field is as rich as any[2]. I am not entirely sure why I feel
>> compelled to highlight this distinction, so please excuse the pedantry.
>>
>> Ultimately, I am probing the group to see what kinds of frameworks each
>> of us has in mind. There are the graphic-theoretic (presently, my
>> favorite to think about) approaches, lawyer-theoretic(?) approaches that
>> ask, "For the benefit of whom?", as well as some axiomatic approaches.
>> Also, we appear to be discussing questions of reciprocity and asking,
>> "Economy, what is it good for"?[$]
>>
>> [1] Reading about Eric's approach to his recent work, I was reminded
>> about the Levine paper. It has been several years since I had thought
>> about the details and attempts to reconstitute the idea for that context
>> have it on my mind for this one.
>>
>> [2] Here, I suppose that I am not only thinking about more recent work
>> like that of Mark Newman or Lovasz or whomever, but also of the rich
>> history (summarized so playfully by Lokatos) going back to Euler and
>> Gauss and ...
>>
>> [$] There is also the question of Evil, money, and their arborescent
>> relationship. I will leave this one alone for now ;)
>>
>> [KS] Kemeny and Snell, 1960
>>
>>
>>
>> --
>> Sent from: http://friam.471366.n2.nabble.com/
>>
>> - .... . -..-. . -. -.. -..-. .. ... -..-. .... . .-. .
>> FRIAM Applied Complexity Group listserv
>> Zoom Fridays 9:30a-12p Mtn GMT-6  bit.ly/virtualfriam
>> <https://linkprotect.cudasvc.com/url?a=http%3a%2f%2fbit.ly%2fvirtualfriam&c=E,1,7pPPyT-AgZpm_kPs0DBaJ99GCBITB7jTnAJdxCaaCTlZfOu-cNfizz0Y6tUGKbxJDvK0RQqLZGjj1C-zfCMbGwU7WWzUA9NhM9ZUDhULAkfR5h_nP-7EdseQpw,,&typo=1>
>> un/subscribe http://redfish.com/mailman/listinfo/friam_redfish.com
>> <https://linkprotect.cudasvc.com/url?a=http%3a%2f%2fredfish.com%2fmailman%2flistinfo%2ffriam_redfish.com&c=E,1,pKVqrJdMa4bO9OytCfE-IoAiUn5LNi99h3LKTRqG65dlAtIE2Ss7C4ElPxEAOt3635D3f2Umn4-4w34gzlLgIrQNwmIJtzn5CBDaOvRMcXHayedM1HovaA,,&typo=1>
>> FRIAM-COMIC http://friam-comic.blogspot.com/
>> <https://linkprotect.cudasvc.com/url?a=http%3a%2f%2ffriam-comic.blogspot.com%2f&c=E,1,8rMn6Qge1-y8sXcO0NpzboV3Ay28-FkvfgPLjEF4MyIESPzKI4ab7U7J9IE1P7bKoG7fpYe1wscozRzyVjdNLcxOt8K_qdWKcpR1M_DtTa1gsbSv3cy1UFoc&typo=1>
>> archives: http://friam.471366.n2.nabble.com/
>>
> - .... . -..-. . -. -.. -..-. .. ... -..-. .... . .-. .
> FRIAM Applied Complexity Group listserv
> Zoom Fridays 9:30a-12p Mtn GMT-6  bit.ly/virtualfriam
> un/subscribe
> https://linkprotect.cudasvc.com/url?a=http%3a%2f%2fredfish.com%2fmailman%2flistinfo%2ffriam_redfish.com&c=E,1,RFYmKU9uafRaal9CHd_TSkQozsyjYN9Sav2JwZv9EsNjeXXzhVboCIEyhY90Ieq-KhlQg8-oiwpRJ56dimmBzRhVhF_eVeq1rNK8eO_q-aoH7rmfBTMUj0i2LLV2&typo=1
> FRIAM-COMIC
> https://linkprotect.cudasvc.com/url?a=http%3a%2f%2ffriam-comic.blogspot.com%2f&c=E,1,9u_x9l_Qwna63Vb7AjgvWi48is8dAKAGYBscN1dJiKUsfmZLB0rnM4vgUWh_C_AbaPJyIPd39XIYWpQoakYjc7uaP9oH9FWjqXdmu3BgFbKTRAavnR8T&typo=1
> archives: http://friam.471366.n2.nabble.com/
>
>
> - .... . -..-. . -. -.. -..-. .. ... -..-. .... . .-. .
> FRIAM Applied Complexity Group listserv
> Zoom Fridays 9:30a-12p Mtn GMT-6  bit.ly/virtualfriam
> un/subscribe http://redfish.com/mailman/listinfo/friam_redfish.com
> FRIAM-COMIC http://friam-comic.blogspot.com/
> archives: http://friam.471366.n2.nabble.com/
>
-------------- next part --------------
An HTML attachment was scrubbed...
URL: <http://redfish.com/pipermail/friam_redfish.com/attachments/20210514/b2d60d31/attachment.html>