[FRIAM] The case for universal basic income UBI

Fri May 14 14:32:34 EDT 2021

Interesting that you should send this (I haven't had a chance to look at it
much yet). Someone just sent a link to something rather similar:
https://en.wikipedia.org/wiki/Prosperity_Without_Growth.

On Fri, May 14, 2021 at 2:01 AM Pieter Steenekamp <
pieters at randcontrols.co.za> wrote:

> 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
>>>
>>>
>>>
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