Atom : it is time to upgrade the economy /
Kartik Gada.
- Second edition.
- 1 online resource (233 pages) : illustrations (some color)
- Systems and innovations in business and society collection, .
Chapter 1. Prologue -- Chapter 2. The exponential trendline of economic growth -- Chapter 3. Technological disruption is pervasiveand deepening -- Chapter 4. The overlooked economics of technology -- Chapter 5. Characteristics of the accelerating TechnOnomic Medium (ATOM) -- Chapter 6. Current government policy will soon be ineffective -- Chapter 7. Government policies must adapt, and quickly -- Chapter 8. The ATOM transformation by sector -- Chapter 9. Reframing 'inequality' -- Chapter 10. Implementation of the ATOM age for nations -- Chapter 11. Implementation of the ATOM age for individuals -- Chapter 12. The ATOM's effect on the final frontier -- Chapter 13. Conclusion -- Chapter 14. The campaign to make this a reality -- FAQs -- ATOM awards of the month.
The accelerating pace and diffusion of technological change has taken control of an ever-growing fraction of the world economy. This fraction is being assimilated into a different set of economic fundamentals, such as the rapid and exponential price deflation inherent to technology. The effect of this was insignificant until recently, but is now beginning to create conspicuous distortions in many economic metrics, and is just years from being the dominant force across the entire economy. In response to technological deflation, the central banks of the world will have to create new money in perpetuity, increasing the stream at an exponentially rising rate much higher than is currently assumed. This now-permanent need for monetary expansion, if embraced, can fund government spending more directly. This in turn creates a very robust, dynamic, and efficient safety net for citizens, while simultaneously reducing and even eliminating most forms of taxation by 2025-30. Alternatively, this monetary expansion can be a means to create Sovereign Venture Funds that can hedge a country's risk far more effectively than existing sovereign wealth funds. Failure to recognize that technological deflation mandates permanent and ever-rising central bank monetary expansion that can and should gradually become the primary source of government spending could result in countries falling behind more enlightened countries in a very short time. The nature of current worldwide technology is to link various disruptions with each other, consume monetary liquidity to generate deflation, and lower the effective prices of most goods and services overtime. Therefore, the entirety of worldwide technology has to be seen as a holistic economic entity, and can be defined as the 'Accelerating TechnOnomic Medium', or 'ATOM'.
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Accelerating change. Artificial intelligence. Technological progress. Technological deflation. Technological unemployment. Automation. Robotics. Data science. Quantitative. Easing. Federal reserve. Machine learning. Deep learning. GDP. Universal basic income. UBI. Atom. European Central Bank. Bank of Japan. Singularity. Tax. Income tax. Monetary policy. Deficit. National debt. Sovereign venture fund. Andrew Yang. Modern monetary theory. Exoplanet.