Trump Thread

[Montmorency]

I know what metaeconomics means in general, but how do you use the term here?

The economics of healthcare are the narrow questions of how actors from individuals to firms to governments are exchanging money and other resources to provision and consume certain sets of fixed services and products with respect to some predetermined indicators like access, outcomes, efficiencies and expenditures of GDP and so on...

The metaeconomics of healthcare go to the root of societal organization, of what healthcare is supposed to be, or what is possible, what is needed or should be needed in the context of all the other economic sectors and their principles as well as philosophical and political-sociological questions on the human condition including, "What is or should be the overall focus of economic activity?".

Here's one take:

[T]his website argues for a paradigm shift in the substance, rather than the form of economics, a move which will, paradoxically, take economics back to its origin in the field of moral philosophy. I hope to convince the viewer that when the existing paradigm is examined for it appropriateness to humanity’s needs, it will be seen to be so inadequate, dysfunctional and socially destructive that a new economic paradigm is called for. When the current economic upheavals have run their course, and rebuilding is being planned, it must start from a clear vision of the kind of social community we desire, and this website will argue that it cannot be profit-driven.

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[B]ut what distinguishes metanomics from informed orthodox economics is its rejection of two even more fundamental assumptions. The first of these is that the aim of economics of whatever kind is to increase “wealth”, which is taken to be material possessions or comforts or the money to obtain them. The second is the assumption that the natural economic group is the nation state. The latter is already being questioned in the drive to globalism which has been intensified by the rise of China, with all its many economic consequences, and of the transnational business corporation, which actively seeks to escape from regulation by the nation state and whose ideal would be a totally borderless world.

Metanomics redefines the aim of economic theory and practice , so that wealth is not a measurable financial quantity, but a function of human well being, albeit this is not separable from a minimum level of income. “Human welfare” or “human prosperity” might initially be taken to be something akin to Aristotle’s euphoria, which meant something much less dramatic and intoxicating than commonly understood today.

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One thing we can be sure of is that the economic problems that humankind now faces cannot be solved by the same kind of economic thinking that caused them in the first place.