Humanomics

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  • Title: Humanomics: A Non-Equilibrium Model of Economic Processes
  • Author(s): Michael Green
  • Publisher: Common Ground Research Networks
  • Collection: Common Ground Research Networks
  • Series: New Directions in the Humanities
  • Journal Title: The International Journal of Civic, Political, and Community Studies
  • Keywords: Economics, Non-Equilibrium Systems, Literary Simulations, Complexly Organized Wholes, Cycles, Endogenous Causality, Control Parameter, Order Parameter, Non-Equilibrium System, Non-Linear Feedback, Business Confidence, Social Ontology, Pessimism-Optimism Polarity, Emotions
  • Volume: 16
  • Issue: 4
  • Year: 2018
  • ISSN: 2327-0047 (Print)
  • ISSN: 2327-2155 (Online)
  • DOI: https://doi.org/10.18848/2327-0047/CGP/v16i04/21-32
  • Citation: Green, Michael . 2018. "Humanomics: A Non-Equilibrium Model of Economic Processes." The International Journal of Civic, Political, and Community Studies 16 (4): 21-32. doi:10.18848/2327-0047/CGP/v16i04/21-32.
  • Extent: 12 pages

Abstract

The humanomics model of the economy uses the rich resources of the humanities to develop a predictive model of long-term economic development. “Gulliver’s Travels” shows that economics should investigate complex systems, not individuals. A common description of what these systems do can be found in “Dorval, or the Speculator,” “The Adventures of Harry Franco Volume II,” “Martin Chuzzlewit,” “The Gilded Age A Tale for Today,” and “The Great Gatsby.” “The Bacchae” models this behavior. “Philoctetes,” “Frankenstein,” “Rhinoceros,” and “All Quiet on the Western Front,” similarly, make human interdependence central. “Candide” is used to argue that the flow of economic resources is initiated and sustained by an optimism-pessimism polarity. “César Birotteau,” “On Walden Pond,” and “The Cherry Orchard” are used to argue that economic identity is created by the unity and disunity created by changing technological/financial configurations. Finally, “Oedipus Rex” and “Birds” are used to argue that a complete economic cycle goes through the following stages: confidence, alarm, relief, panic, false hope, despair, caution, false panic, boldness, false alarm, and then confidence. It is, then, suggested, that the US economy is currently in a false hope rally.