La troisième dimension en Economie (The third dimension in Economics)

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Abstract:
Written in the form of a fictionalized essay, this book describes a research work whose starting point is a flattening of the basis of the economic system whose roots are anchored in the philosophy and physics of the 18th century and more particularly in thermodynamics. This basis is currently made up of two main dimensions: capital and labor and a residual dimension.

Why romanticized? Because the residual dimension we’ll be talking about permanently affects all the people who make up society.

The research group is composed of people from different fields: physics, medicine, philosophy, economics and finance. Using a concept that crosses these fields, the group explores ways to develop a third dimension that is not simply residual. Their interactions and questioning lead them on a road in the middle of a maze of paths, a road that is wide at the beginning and that narrows as they progress.
In a world where there is an exacerbated competition between two systems opposing the interests of the individual and the State, between the partisans of growth and the partisans of degrowth, between capital and labour, between the American and Chinese systems, between the schools of economists, there is another way.
This path does not involve a revolution, but an evolution, a new synthesis based on new measures of the market and of the GDP, as well as on a new monetary tool.

Time is money’.
What is the relationship between time and money?
What is time?
In its relationship with money, time takes the form of interest rates, which are calculated on an annual basis, and then broken down into days, hours, … or Greenwich Mean Time (GMT) or UTC, which order the cost of distribution, the cost of the movement of money.
What if currency were given a basis other than the time determined by the Greenwich meridian?
What is money? What is its link with the economy and financial markets?

Money has a mass that takes several forms depending on its degree of liquidity: from the most liquid, the most mobile, i.e. the M1 mass, to the least liquid, the least mobile, i.e. the M3 mass.
Could another measure, another mass, another tool be assigned to it?
Following an analysis of the link between money supply and the stock market, on the one hand, and between the stock market and the economy, on the other hand, the research group examined the feasibility of a new monetary tool, an “out-of-the-box” tool.
The basis of this tool would not be virtual, as is Greenwich time, which is applied from M1 to M3, but a driving force that enables the economy to progress: productivity generated by research programs. Which research programs? How much research? How financed?
This engine would take on a form of its own: security tokens grouped together in an M4 pool representing 5% of the total money supply. These security tokens would be invested in medium- to long-term research programs, with between 10 and 15 main programs per country, in order to diversify risk while avoiding excessive dispersion.

The mobility of M4 would be determined by the security token market.
Given the uncertainties surrounding what is currently the residual dimension of the economy, and at a time of increasing digitalization of human activities, M4 could, under certain conditions, constitute a more manageable alternative to the current third residual factor, and become an important factor of productivity, a central factor alongside labor and capital, a factor that does not generate debt at state level, a factor that can reinforce multipolarity and peace between states. On condition that we review the market’s measurement method, which is currently based on the actuarial valuation of future corporate profits, which in turn depends on interest rates, i.e. Greenwich Mean Time. The proposed measurement method no longer depends on Greenwich time. It would aim to bring the economy, corporate earnings and companies into line with one another: corporate earnings would be assessed on the basis of their statistical relevance, and companies would be assessed on the basis of their ability to create value, rather than on the basis of their ability to extract value.

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