Implementation Theory of Degrowth (7): Can a Design-Based Economy Become an Academic Discipline? — The Approach of 'Expanding' Economics

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• (The following series is a compilation of a series of dialogues with ChatGPT.
  For details of the dialogues, please refer to the links on the original site.)

Original site (PC viewing recommended):

• [System : 4] Capitalism and the Limits to Growth, Design-Model Economy, Overview of a Sustainable Economy, etc.

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Part 7: Can a Design-Based Economy Become an Academic Discipline?

— The Approach of 'Expanding' Economics

The Core of the Question: 'Is That Economics?'

Some readers of this series so far may be feeling this way.
It's an interesting concept, but is it economics?

This question is extremely important.

This is because,
global consensus buildingand
legitimacy as an institutionare essential to obtain.

is indispensable.

Existing Economics Was a 'Descriptive Science of Nature'

First, I would like to confirm the position of modern economics.
Mainstream economics has long held that,

Mainstream economics has long held that,

• markets form naturally

• Economic laws are things to be discovered

• Policy is an external intervention

—we have operated under these premises.

In other words,

.

This is a position close to physics, where

• equilibrium

• efficiency

• optimization

become the central concepts.

However, the economy is also an 'artifact'.

On the other hand, if we think about it calmly,

• money

• corporate systems

• market rules

• property rights

these are all
systems designed by humans.

In other words, the economy is

• It is both a natural phenomenon

• and an artificial construct

possessing this duality.

A design-based economy
deals directly with the latter.

Positioning as a 'Design Science'

A useful reference here is the concept of
Design Science.

In design science,

• utility is prioritized over correctness

• function is prioritized over truth

• adaptability is prioritized over reproducibility

.

Examples include

• engineering

• architecture

• information science

• system design

.

A design-based economy is

can be positioned as follows.

Extension of the Economics Base Class

What is important here is

the point.

A design-based economy

• supply and demand

• price mechanism

• incentive theory

inherits existing theories such as
base class as a.

On top of that,

• external costs

• environmental boundaries

• social constraints

incorporates as additional parameters.

The concept of 'Economics: With External Costs'

What I would like to propose here is

This is the way of thinking.

The features are as follows.

• Do not treat external costs as 'exceptions'

• Always include them in calculations

• Assume uncertainty as a premise

This is a framework that

• environmental economics

• behavioral economics

• institutional economics

encompasses, while being
abstracted by one level.

To what extent are mathematical models necessary?

A common misunderstanding is

the idea that.

However, in reality,

• sociology

• political science

• psychology

are also respectable academic disciplines.

In design-based economics,

• mathematical models

• simulations

• statistical analysis

are used, but

is the stance taken.

What is important is

• comparability

• reproducibility

• improvability

.

The back-and-forth movement between experiment and theory

The academic characteristic of design-based economics lies in the

.

• sandbox experiments

• real-world data

• civic behavior

as they are
will become material for updating the theory.

This could be called

as well.

'Degrowth' is a hypothesis, not a conclusion

One important point here.

A design-based economy takes the position of

.

Degrowth is merely

• one possible conclusion

• a conditional option

.

What is important is

,

• growth

• stagnation

• contraction

appears as a result.

Strengths and Weaknesses as an Academic Discipline

To summarize what we have covered so far,

Strengths

• Strong connection to reality

• High policy applicability

• High affinity with civic participation

Weaknesses

• Few elegant mathematical formulas

• High degree of uncertainty

• Value judgments are unavoidable

is what it becomes.

However,
this could rather be said to be

as well.

Is it enough for an academic discipline to just 'explain the world'?

Finally, a fundamental question.

The climate crisis, inequality, and the instability of democracy.

Are

• accurate explanations

• beautiful models

alone sufficient to address these?

Design-based economics is

.

Next Episode Preview

Next time, we will take the theory a step further and
address

.

• Earth Currency

• Dual Currency

• Pluralistic Values and Exchange

Part 8: Money is Not a Natural Object — Earth Currency and the Dual Economy Model
will be covered.

> Next Article:

▶︎ Related Series Structure

• Implementation Theory of Degrowth (1): Why Question the Premise That 'Growth Is Necessary'? — The Starting Point of the Idea of 'Redesigning' the Economy

• Implementation Theory of Degrowth (2): Is the Economy a Natural Phenomenon or a Designed System? — Re-examining the Premise of the 'Invisible Hand'

• Implementation Theory of Degrowth (2-2): Re-examining the Engine of Interest — Why Did Growth Become a Premise?

• Implementation Theory of Degrowth (3): Redefining the Economy as an Algorithm — From a 'Discipline of Empirical Rules' to a 'Designable System'

• Implementation Theory of Degrowth (3-2): Is 'Autopilot' for the Economy Possible? — Designing a Goal-Convergent Economy Through Transparent Algorithms

• Implementation Theory of Degrowth (3-3): Implementation and Reality — Answering the Question, 'Does It Really Work?'

• Implementation Theory of Degrowth (3-4): Degrowth, Doughnut Economics, and the 'Design-Model Economy' — Bridging the Gap Between Ideology and Implementation

• Implementation Theory of Degrowth (4): Can Democracy Design the Economy? — The Shift from 'Ex-Post Adjustment' to 'Ex-Ante Design'

• Implementation Theory of Degrowth (4-2): Why Has the Economy Come to Seem 'Inviolable'? — The 'Untouchable Domain' Created by Power, Capital, and Ideology

• Implementation Theory of Degrowth (5): Can Citizens Participate in Economic Design? — Beyond 'Democracy as Just Voting'

• Implementation Theory of Degrowth (6): Economic Systems Starting from Experiments — The Realistic Strategy of Sandboxes

• Implementation Theory of Degrowth (6-2): Experiments Can Already Begin — Concrete Sandbox Examples of a Design-Model Economy

• Implementation Theory of Degrowth (6-3): How Institutions Work — How Coarse Weighting Changes the Economy

• Implementation Theory of Degrowth (7): Can a Design-Based Economy Become an Academic Discipline? — An Approach of 'Expanding' Economics --- This Article

• Implementation Theory of Degrowth (8): Money is Not a Natural Object — Earth Currency and the Dual Currency Concept

• Implementation Theory of Degrowth (9): Start Small and Change the World — Strategies for Introducing a Design-Based Economy into Reality

• Implementation Theory of Degrowth (10): The Choice to Redesign the Economy — Toward an OS Update for Civilization

• Implementation Theory of Degrowth (10-2): Proposal

• Implementation Theory of Degrowth (10-3): Executive Summary

> Original Site (PC viewing recommended):

• [System : 4] Capitalism and the Limits to Growth, Design-Model Economy, Overview of a Sustainable Economy, etc.

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Finally...

▼ A Call for a 'Quiet Revolution':