Assignment from Wired’s Predict What’s Next page: “Imagine the Future of Medical Bills”

William P. Fisher, Jr.
New Orleans, Louisiana
20 March 2010

Consider the following, formulated in response to Wired magazine’s 18.04 request for ideas on the future of medical bills, for possible use on the Predict What’s Next page. For background on the concepts presented here, see previous posts in this blog, such as

Visualize an online image of a Maiuetic Renaissance Bank’s Monthly Living Capital Stock, Investment, and Income Report. The report is shown projected as a vertical plane in the space above an old antique desk. Credits and debits to and from Mary Smith’s health capital account are listed, along with similar information on all of her capital accounts. Lying on the desk is a personalized MRB Living Capital Credit/Debit card, evidently somehow projecting the report from the eyes of Mary’s holographic image on it.

The report shows headings and entries for Mary Smith’s various capital accounts:

  • liquid (cash, checking and savings),
  • property (home, car, boat, rental, investments, etc.),
  • social capital (trust, honesty, commitment, loyalty, community building, etc.) credits/debits:
    • personal,
    • community’s,
    • employer’s,
    • regional,
    • national;
  • human capital:
    • literacy credits (shown in Lexiles;,
    • numeracy credits (shown in Quantiles;,
    • occupational credits (hireability, promotability, retainability, productivity),
    • health credits/debits (genetic, cognitive reasoning, physical function, emotional function, chronic disease management status, etc.); and
  • natural capital:
    • carbon credits/debits,
    • local and global air, water, ecological diversity, and environmental quality share values.

Example social capital credits/debits shown in the report might include volunteering to build houses in N’Awlins Ninth Ward, tutoring fifth-graders in math, jury duty, voting, writing letters to congress, or charitable donations (credits), on the one hand, or library fines, a parking ticket, unmaintained property, etc. (debits), on the other.

Natural capital credits might be increased or decreased depending on new efficiencies obtained in electrical grid or in power generation, a newly installed solar panel, or by a recent major industrial accident, environmental disaster, hurricane, etc.

Mary’s share of the current value of the overall Genuine National Product, or Happiness Index, is broken out by each major form of capital (liquid, property, social, human, natural).

The monetary values of credits are shown at the going market rates, alongside the changes from last month, last year, and three years ago.

One entry could be a deferred income and property tax amount, given a social capital investment level above a recommended minimum. Another entry would show new profit potentials expressed in proportions of investments wasted due to inefficiencies, with suggestions for how these can be reduced, and with time to investment recovery and amount of new social capital generated also indicated.

The health capital portion of the report is broken out in a magnified overlay. Mary’s physical and emotional function measures are shown by an arrow pointing at a level on a vertical ruler. Other arrows point at the average levels for people her age (globally, nationally, regionally, and locally), for women and women of different ages, living in different countries/cities, etc.

Mary’s diabetes-specific chronic disease management metric is shown at a high level, indicating her success in using diet and exercise to control her condition. Her life expectancy and lifetime earning potentials are shown, alongside comparable values for others.

Recent clinical visits for preventative diabetes and dental care would be shown as debits against one account and as an investment in her health capital account. The debits might be paid out of a sale of shares of stock from her quite high social or natural capital accounts, or from credits transferred from those to her checking account.

Cost of declining function in the next ten years, given typical aging patterns, shown as lower rates of new capital investment in her stock and lower ROIs.

Cost of maintaining or improving function, in terms of required investments of time and resources in exercise, equipment, etc. balanced against constant rate of new investments and ROI.

Also shown:

A footnote could read: Given your recent completion of post-baccalaureate courses in political economy and advanced living capital finance, your increased stocks of literacy, numeracy, and occupational capital qualify you for a promotion or new positions currently compensated at annual rates 17.7% higher than your current one. Watch for tweets and beams from new investors interested in your rising stock!

A warning box: We all pay when dead capital lies unleveragable in currencies expressed in ordinal or otherwise nonstandard metrics! Visit today to convert your unaccredited capital currencies into recognized value. (Not responsible for fraudulent misrepresentations of value should your credits prove incommensurable or counterfeit. Always check your vendor’s social capital valuations before investing in any stock offering. Go to for accredited capital metrics equating information, courses, texts, and consultants.)

Ad: Click here to put your occupational capital stock on the market now! Employers are bidding $$$, ¥¥¥ and €€€ on others at your valuation level!

Ad: You are only 110 Lexiles away from a literacy capital stock level on which others receive 23% higher investment returns! Enroll at now for your increased income tomorrow! (Past performance is not a guarantee of future results. Your returns may vary. Click here to see Bob’s current social capital valuations.)

Bottom line: Think global, act local! It is up to you to represent your shares in the global marketplace. Only you can demand the improvements you seek by shifting and/or intensifying your investments. Do so whenever you are dissatisfied with your own, your global and local business partners’, your community’s, your employer’s, your region’s, or your nation’s stock valuations.

For background on the concepts involved in this scenario, see:

Fisher, W. P., Jr. (2002, Spring). “The Mystery of Capital” and the human sciences. Rasch Measurement Transactions, 15(4), 854 [].

Fisher, W. P., Jr. (2005). Daredevil barnstorming to the tipping point: New aspirations for the human sciences. Journal of Applied Measurement, 6(3), 173-9 [].

Fisher, W. P., Jr. (2007, Summer). Living capital metrics. Rasch Measurement Transactions, 21(1), 1092-3 [].

Fisher, W. P., Jr. (2009, November). Invariance and traceability for measures of human, social, and natural capital: Theory and application. Measurement (Elsevier), 42(9), 1278-1287.

Fisher, W. P.. Jr. (2009). NIST Critical national need idea White Paper: metrological infrastructure for human, social, and natural capital (Tech. Rep. No. New Orleans:

Fisher, W. P., Jr. (2010). Bringing human, social, and natural capital to life: Practical consequences and opportunities. Journal of Applied Measurement, 11, in press [].

Creative Commons License
LivingCapitalMetrics Blog by William P. Fisher, Jr., Ph.D. is licensed under a Creative Commons Attribution-Noncommercial-No Derivative Works 3.0 United States License.
Based on a work at
Permissions beyond the scope of this license may be available at


Tags: , , , , , , , ,

2 Responses to “Assignment from Wired’s Predict What’s Next page: “Imagine the Future of Medical Bills””

  1. Matt Barney Says:

    I like the broad vision. I would like it even better if it included “” a professional association that ensures the integrity of the metrics – avoiding the fraud, corruption and mutual back scratching that gets in the way of invariant, linear measures 🙂

    • livingcapitalmetrics Says:

      Excellent idea, Matt. Eventually, I’d expect all metrics to be certified under the treaties governing the International System of Units (SI, or metric system), with various groups around the world providing the technical assistance needed by industry, universities, and governments to maintain and improve their implementations. As Rasch’s ideas on measurement are seen for what they are–articulations of the criteria that make counts of right answers and sums of ratings both necessary and sufficient for measurement–it will become redundant to refer to Rasch measurement, fundamental measurement, or objective measurement. We don’t speak of “wet rain,” for instance, because there isn’t any other kind!

      As Ben would say, “Onward and upward!”

      Thanks, Matt.


Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: