Modeling the Society Implied by Efficient Markets for Living Capital

What is the microcosm of forces needed to model the society implied by an economy of efficient markets for living capital? The following is a start at stating a mission, vision, values, goals, team members, and glossary of terms. See previous posts here, my publications, etc. for more information.

Mission

To be the catalyst for prioritizing genuine wealth as the highest goal for the glocal economy.

Vision

To be the world’s primary provider of information and tools on making efficient markets for human, social, and natural capital.

Values

Self-realization, liberty, and prosperity are the rights of all persons.

Human, social, and natural capital must be brought to life for these rights to be fulfilled.

Profits must be redefined in terms of growth in authentic wealth.

Efficient markets for intangible assets are the economy of the future.

Meaningful communication requires shared languages substantiated by evidence of common objects of reference.

Our work site is the place where technical inventions and social environments shape each other. To adopt an innovation is to adapt it.

Wholes are more than the sums of parts; individuals do not add up to a society; multilevel forms of organization require multilevel models and measures.

Putting things in words is as much a reduction as measurement; unjustified reductionism can occur in poetic metaphors as easily as in statistical over-generalizations.

Deconstructions are communicated in written prose following the rules and standards of grammar, spelling, and orthography; critique is a complex matter demanding the vigilant use of tools that may fail.

Critiques of science and capitalism are themselves scientific and capitalist since, in both cases, anything of value learned advances the broader goals of genuine learning and authentic productivity.

Speaking and writing project multilevel models of listeners and readers engaging with words and text; these implicit qualitative models demand explication, exploration, and potential expression as quantitative models.

Models are never true; they should be useful.

Reductionist collapsing of individual and group levels of organization in research and policy is a fundamental issue in need of systematic attention.

Failures are inevitable; human creativity is endless.

Goals

Laws must be written to ensure secure individual ownership of stocks of intangible assets.

Tax structures must be changed to require minimum capitalizations in human, social, and natural stocks (potentially profitable investments in people, communities, and the environment).

Web applications must be written to facilitate tracking of investments in and returns on stocks of living capital.

Metrological standards groups must be convened to determine units, vocabularies, etc. for each measured construct.

Multilevel modeling integrating qualitative and quantitative data and methods must be used to justify reductions, learn from anomalies, and counter unjustified reductions.

Instrument publishers must calibrate their tools and demonstrate traceability to standard units.

Economic models must shift focus from land, labor, and manufactured capital to human, social, natural, and manufactured capital.

Investors must demand that explicit living capital accounts and investments replace social responsibility screens.

Researchers in psychology, education, health care, social services, etc. must report experimental results in terms traceable to standard units.

Consumers must demand and use comparable outcome products and prices across providers in education, health care, social services, natural resource management, human resources, etc.

Each industry must devise technology roadmaps akin to Moore’s Law to coordinate and align living capital investments across stakeholders for the next 20-50 years.

Innovators and entrepreneurs in each industry must know to build intangible assets standards, investments, and accountability into their efforts.

Watchdogs, gadflies, whistleblowers, and regulators must have access to all information.

Team members (as I’ve previously suggested, teams of this kind might be most readily assembled by universities, some communities, firms such as Pearson or CTB/McGraw-Hill, or by consulting groups like McKinsey, Accenture, or Ernst & Young, which already have resources in all of these areas)

Patent law attorneys

Property rights attorneys

Legislative consultants

Psychometric modelers

Psychometric analysts

Statisticians

Economists

Econometricians

IT team (engineer, quality, programmer, coder, web GUI design, etc.)

Accounting standards controversies experts

Financiers

Philanthropists and foundations

Environmental resources expert

Human resources expert

Social capital expert

Content domain experts for each construct measured

Predictive theory experts

Invariant constructs, interrelated

Social anthropologist marketing experts

Narrative and rhetoric experts

Customers

Communities

Academic critics and deconstructionists

Researchers, journal editors and reviewers

Research funders, RFP writers, proposal reviewers

Textbook writers and publishers

Educators and curriculum developers

Conference organizers

Glossary of terms

Glocal: Local decisions informed by global thinking.

Human capital: Abilities, attitudes, performances, behaviors, health.

Intangible assets: Human, social, and natural capital, as distinct from manufactured capital and property.

Invariant constructs: Abilities, attitudes, performances, behaviors, etc. shown to exhibit repeatable and consistently identifiable profiles across instruments and samples.

Living capital: Any capital (human, social, natural, or manufactured) brought to life in a network of actors sharing a system of transparent representations.

Multilevel models and measures, I: Rasch models aid in distinguishing between individual-level behaviors or performances and group-level constructs by evaluating the coherence of response patterns relative to aggregate expectations. Perfect model fit is an untenable hypothesis.

Multilevel models and measures, II: Hierarchical linear models (HLM) distinguish micro-, meso-, and macro-levels of organization as an aid in ecological studies.

Multilevel models and measures, III: Theories of hierarchical complexity, developmental sequences, and self-organizing processes postulate stage transitions or bifurcations that occur when unexamined assumptions informing decisions and behaviors at one level become objects of intentional operations at the next level. Individual-level cognitive and moral growth has been successfully described using Rasch models, and could be using HLM.

Natural capital: Air and water services, watersheds, estuaries, ecological diversity, beauty, gene pools, fisheries, etc.

Social capital: Trust, loyalty, commitment, relationships.

Transparent representations: Readable instruments or inscription devices, such as measures read off instruments calibrated in standard units, or standardized documents like titles or deeds.

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One Response to “Modeling the Society Implied by Efficient Markets for Living Capital”

  1. Outline of the Efficient Markets for Living Capital Project | Livingcapitalmetrics's Blog Says:

    […] Bringing capital to life, redefining profit as value for life, via the creation of shared meaning « Modeling the Society Implied by Efficient Markets for Living Capital […]

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