Finance 4.0—Towards a Socio-Ecological Finance System A Participatory Framework to Promote Sustainability
Download link: https://link.springer.com/content/pdf/10.1007%2F978-3-030-71400-0.pdf On Thu, 13 May 2021 at 22:21, David Eric Smith <[email protected]> wrote: > I heard a nice story at an annual meeting a long time ago: maybe seven or > eight years now; maybe a decade. It was in a side-conversation, told by > some high-flying economist who had been in the room where it happened. > This was soon after Obama had appointed Tim Geithner to try to repair the > mess of the 2007/2008 banking system collapse. Geithner was in one of the > relatively early meetings with the bankers for whom he was trying to devise > some regulatory scheme. The bankers were reassuring him that no scheme was > needed, because they would self-regulate. > > As I heard it told, Geithner answered immediately, with an expression that > it is easy for me to visualize: > > “Right. So self-regulation is to regulation as self-importance is to > importance.” > > That of course doesn’t purport to be a statement about limits to what > could be possible in principle. Just an assessment in the context in situ > at the time, of what would be the outcome of immediate decisions. > > Eric > > > > On May 14, 2021, at 4:11 AM, Pieter Steenekamp <[email protected]> > wrote: > > Re > *Ultimately, I am probing the group to see what kinds of frameworks eachof > us has in mind.* > > My choice is a self-regulating participatory market society. > > I quote from Dirk Helbing's Economics 2.0: The Natural Step towards A > Self-Regulating, Participatory Market Society > https://arxiv.org/abs/1305.4078 > "I argue that, as the complexity of socio-economic systems increases, > networked decisionmaking and bottom-up self-regulation will be more and > more important features. It will be > explained why, besides the “homo economicus” with strictly self-regarding > preferences, natural selection has also created a “homo socialis” with > other-regarding preferences. While the “homo > economicus” optimizes the own prospects in separation, the decisions of > the “homo socialis” are self-determined, but interconnected, a fact that > may be characterized by the term “networked minds”. Notably, the “homo > socialis” manages to earn higher payoffs than the “homo economicus”." > > Interesting is the youtube presentation by Dirk Helbing about his new > book Next Civilisation at > https://www.youtube.com/watch?v=8TtSNNaNZTc&t=26s > > > > > > > On Thu, 13 May 2021 at 19:55, jon zingale <[email protected]> wrote: > >> Each of the three citations was meant to evoke, distinct though related, >> approaches to assigning quantities to qualities of networks. The Levine >> paper[1] focuses on a technique for flattening a food web onto a chain >> (trophic level). What I find novel is that the technique appears robust >> to loops (cannibalism like breastfeeding) as well as larger circuits or >> cliques (scavengers of all types and colors). I am also impressed by the >> straightforward nature of the calculation familiar to all that work with >> absorbing Markov chains[KS]: Reorder the transition matrix so that pure >> source components come first, partition the position vector similarly, >> find the fundamental matrix and then solve for position. Levine then >> goes on to point out that the variance of path lengths gives a nice >> measure of trophic specialization. >> >> I became familiar with the Spring Rank algorithm through conversations >> with its authors, and became more intimately familiar through recent work >> applying the algorithm to networks of exchange. The central idea, there, >> is that we can imagine an exchange network as a mechanical system of >> weights (individuals) and springs (whose tensions correspond in some >> way to transactions between individuals). There (and maybe this is how >> it might correspond to Marcus' criticism) we write the Hamiltonian and >> solve for position. In the work, my collaborators and I were (are?) doing, >> we researched how such a model can be used as a suggestion engine for >> *giving* exactly because one could suggest non-trivial ways to *balance* >> one's exchange network. >> >> Lastly, the reference to gauge-theoretic economic models is one where we >> can apply an abstract notion of curvature or (cohomologically) measure >> the distance from *exactness* flows experience on a given circuit. I would >> not be surprised if this relatively new approach is already finding itself >> useful in applied economics. My feeling is that the tools already exist >> (to an extent more than we know, though less than we really want) and >> that application is where things go awry. Also, I am unsure to what extent >> these approaches land within the already stated criticism put forth by >> Marcus. I haven't looked at the Kirkley paper. I suppose I wanted to >> ground the models in some calculations so that we can more clearly argue >> their merits. >> >> To my mind, assigning qualities to graphs, like assigning qualities to >> numbers, comes with a certain hermeneutic burden. OTOH, there is a >> continued effort to discover sensible properties that graphs may have, >> that is, the field is as rich as any[2]. I am not entirely sure why I feel >> compelled to highlight this distinction, so please excuse the pedantry. >> >> Ultimately, I am probing the group to see what kinds of frameworks each >> of us has in mind. There are the graphic-theoretic (presently, my >> favorite to think about) approaches, lawyer-theoretic(?) approaches that >> ask, "For the benefit of whom?", as well as some axiomatic approaches. >> Also, we appear to be discussing questions of reciprocity and asking, >> "Economy, what is it good for"?[$] >> >> [1] Reading about Eric's approach to his recent work, I was reminded >> about the Levine paper. It has been several years since I had thought >> about the details and attempts to reconstitute the idea for that context >> have it on my mind for this one. >> >> [2] Here, I suppose that I am not only thinking about more recent work >> like that of Mark Newman or Lovasz or whomever, but also of the rich >> history (summarized so playfully by Lokatos) going back to Euler and >> Gauss and ... >> >> [$] There is also the question of Evil, money, and their arborescent >> relationship. I will leave this one alone for now ;) >> >> [KS] Kemeny and Snell, 1960 >> >> >> >> -- >> Sent from: http://friam.471366.n2.nabble.com/ >> >> - .... . -..-. . -. -.. -..-. .. ... -..-. .... . .-. . >> FRIAM Applied Complexity Group listserv >> Zoom Fridays 9:30a-12p Mtn GMT-6 bit.ly/virtualfriam >> <https://linkprotect.cudasvc.com/url?a=http%3a%2f%2fbit.ly%2fvirtualfriam&c=E,1,7pPPyT-AgZpm_kPs0DBaJ99GCBITB7jTnAJdxCaaCTlZfOu-cNfizz0Y6tUGKbxJDvK0RQqLZGjj1C-zfCMbGwU7WWzUA9NhM9ZUDhULAkfR5h_nP-7EdseQpw,,&typo=1> >> un/subscribe http://redfish.com/mailman/listinfo/friam_redfish.com >> <https://linkprotect.cudasvc.com/url?a=http%3a%2f%2fredfish.com%2fmailman%2flistinfo%2ffriam_redfish.com&c=E,1,pKVqrJdMa4bO9OytCfE-IoAiUn5LNi99h3LKTRqG65dlAtIE2Ss7C4ElPxEAOt3635D3f2Umn4-4w34gzlLgIrQNwmIJtzn5CBDaOvRMcXHayedM1HovaA,,&typo=1> >> FRIAM-COMIC http://friam-comic.blogspot.com/ >> <https://linkprotect.cudasvc.com/url?a=http%3a%2f%2ffriam-comic.blogspot.com%2f&c=E,1,8rMn6Qge1-y8sXcO0NpzboV3Ay28-FkvfgPLjEF4MyIESPzKI4ab7U7J9IE1P7bKoG7fpYe1wscozRzyVjdNLcxOt8K_qdWKcpR1M_DtTa1gsbSv3cy1UFoc&typo=1> >> archives: http://friam.471366.n2.nabble.com/ >> > - .... . -..-. . -. -.. -..-. .. ... -..-. .... . .-. . > FRIAM Applied Complexity Group listserv > Zoom Fridays 9:30a-12p Mtn GMT-6 bit.ly/virtualfriam > un/subscribe > https://linkprotect.cudasvc.com/url?a=http%3a%2f%2fredfish.com%2fmailman%2flistinfo%2ffriam_redfish.com&c=E,1,RFYmKU9uafRaal9CHd_TSkQozsyjYN9Sav2JwZv9EsNjeXXzhVboCIEyhY90Ieq-KhlQg8-oiwpRJ56dimmBzRhVhF_eVeq1rNK8eO_q-aoH7rmfBTMUj0i2LLV2&typo=1 > FRIAM-COMIC > https://linkprotect.cudasvc.com/url?a=http%3a%2f%2ffriam-comic.blogspot.com%2f&c=E,1,9u_x9l_Qwna63Vb7AjgvWi48is8dAKAGYBscN1dJiKUsfmZLB0rnM4vgUWh_C_AbaPJyIPd39XIYWpQoakYjc7uaP9oH9FWjqXdmu3BgFbKTRAavnR8T&typo=1 > archives: http://friam.471366.n2.nabble.com/ > > > - .... . -..-. . -. -.. -..-. .. ... -..-. .... . .-. . > FRIAM Applied Complexity Group listserv > Zoom Fridays 9:30a-12p Mtn GMT-6 bit.ly/virtualfriam > un/subscribe http://redfish.com/mailman/listinfo/friam_redfish.com > FRIAM-COMIC http://friam-comic.blogspot.com/ > archives: http://friam.471366.n2.nabble.com/ >
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