Social firms v social markets

Yes corporations are already social firms but of course the infamous corporate liberation movement from its inchoate inception In 1969 to the startling last moments Of 2008 Which cleverly Reversed much of What earlier Efforts acvomished toward mobilizing corporate activity In the long and lingering aftermath of The crisis of September 2008 Restarting the harnessing of corporate firms to the general good of society Has staggered to its still unsteady feet

Agent driven Climate controls will come but now lets get socoal production controls

Weather and social production

In the 50's We were going to tune up the weather That was abandoned For simply improved forecasting That is exactly not what we should do about social production The point is to improve it not predict it Physical atmospheres s and social production systems share complexity but not agency The existence of Agency is both the hope And the problematic of social production We need detailed now casted data and an adequate set of macro instruments Ready to smooth and steeped Our macro climb to society wide Freedom from material labor necessity

The strategic markets sector : markets that contain firms with pricing power and thus strategic options

Oligops play pricing games with each other in the in markets for their products Galbraith focused on this sector And Lerner mark up cap and trade Use it or lose it and rent flush CO ordination markets are relevant To this sector Clearly reliably sustainable peoples state control of the fire sector is a crucial features as else where

Price spirals are the deeper target of social management of autonomous market guided firm production

The inflation rate governed by stop start macro policy cycles of relative injection and extraction rates Or net credit flows and their interest rates q

Private Profiteering is no virtue .....and what else is mankiw trying to protectb

If mankiw urges Free range corporate pricing and wage setting as the best practical long run state policy Why Surely he recognizes the next stop on the road to socialism isn't inevitably Weimar Or the Soviet union Why is he shielding oligop outfits What is the social miracle contained in firm level exploitation of primary producers Imagine a system with just one class Employees No capitalist rentiers Like no landlords Yes we'd still face the question of optimal compensation patterns for the various employed Yes nothing prevents a system like ours now where the executive suite gangs Haul out huge hunks of firm level infra marginal value added But Once the state is dedicated To socializing a socially optimum share of surplus value nothing suggests compensation Structure can't be Employee Congress determined

Mankiw is anti socialist pro corporate capitalist so.....

The peoples state despite Mankiws dogma Can improve macro performance Yes at the expense of corporate Market liberties Consider these liberties They are a social expedient Justified by outcomes Demonstrate socially superior Outcomes with a social market design And that suffices to justify the reformation of oligop corporate sector markets and firms

Mankiw ripped

"the government can always print money to pay its bills. But that fact does not free the government from its intertemporal budget constraint." What intertemporal constraint ? The global system of social production remains finite And has limits at all times and places This is a tautology Where has anyone claimed magical powers of limitless extension at the present margin s of social production The limits are a frontier to be forced Till bottle necks overwhelm additional output and shortages become no longer a spur to more production of a given output at a certain quality But a chronic condition ------------------------------- "the economy normally operates with excess capacity , the economy’s output often falls short of its optimum." Indeed and it is the task of the peoples state to force out more production Then spontaneously emerges....at all levels and in all sectors " But that conclusion does not mean that policymakers only rarely need to worry about inflationary pressures." Here one considers demand pull inflationary Pressures The peoples state must arbitrate the combo of price increases and delivery delays And the estimated time frame of rectification ------------------------------- "in a world of pervasive market power, government price setting might improve private price setting as a matter of economic theory." "But that deduction does not imply that actual governments in actual economies can increase welfare by inserting themselves extensively in the price-setting process." If the firms set wages and prices Enter Lerner CO ordination markets To regulate over all limits If the target is firm level rents The system of use it or lose it enters the story This question of dynamic and structural rents remains open for vast investigation and social remedy Pay it forward The rent flush is a possible solution too

Mankiw on MMT

the government can always print money to pay its bills. But that fact does not free the government from its intertemporal budget constraint. I agree that the economy normally operates with excess capacity, in the sense that the economy’s output often falls short of its optimum. But that conclusion does not mean that policymakers only rarely need to worry about inflationary pressures. I agree that, in a world of pervasive market power, government price setting might improve private price setting as a matter of economic theory. But that deduction does not imply that actual governments in actual economies can increase welfare by inserting themselves extensively in the price-setting process.

Vickrey macro max

New policies new politics Vickrey macro max Proposes a job forcing system that drives the social production system to the Beveridge frontier The system phase critical edge Where job openings and job candidates Ossilate along a ratio range That only practice can optimize Hazards abound Protracted product scarcity Wage spirals Trade d3ficit ballooning Rampant undoc In migrations Job floor discipline collapse Corporate spending strike Etc

Do means always justify ends ? Consider open election liberal democracy

Corporate America has yet to stage a a CO ordinates spending strike

Nope So far booms have self terminated spontaneously Or by act of state

The final problematic of kalecki macro : corporate contrived contractions CCC

CCC study has never consolidated itself into A steady topic of investigation Why ? Till now no regime has ever Implemented A permanent kalecki macro guided Aggregate Demand management system

The autostab system pro active ipayment njections patterns tied to now casted transaction data

Yes its just n targets of m injected uncle payments To increase general purchasing power Not actual purchases of products or services Hence uncertain results require dynamic piloting With efficient timely feed backs Points of injection The payroll stream* and The retirement payment stream ******* payroll stream and Present unemployment payment stream And health mortgage and rent payment streams Of course general social wage stream much better Example Imagine the potential of a complete re injection of the payroll tax revenue rebates to employees Imagine uncle off set wage cuts by employers instead of lay offs Etc Social democracy 1.0 Was about compensation for job loss and buffering jobless Ness Not part of social democracy 2.0

CLIO PLAYS WITH LOADED DICE

Public equity

Yes deep uncle needs to Set up public equity outfits To cruise the security markets And menace corporate malefactors of great exploits As in great exploitation

SEFs: sovereign equity funds

Really a no brainer With a citizen Quaterly dividend Farmer would have deep uncle Buy and sell equity indexes To regulate equity market values Like the FOMC regulated treasury bonds and notes As capital financialization Deepens well beyond the point Of dominance It has evolved qualitatively it Has become securitized Autonomous financial capitals AFCs Are liberated from the restrictions of a loan portfolios of yore State regulation has fallen behind the growth curve of course Private equity has evolved ad a new super exploitative vehicle Able to ply security markets Bond and equity alike Largely liberated from regsec harnessing Real product Corporate capitalism Has escaped the idiocy Of own bottom private ownership Only to fall prey To profiteering mauraders Like mitt Romney

Money has many independent dimensions ; We could use a static unit of account

An accounting dollar or A dollar for all transactions payment patterns etc A simple translator of actual exchange medium and means of payment money prices Into the accounting money price Just as zero real consoles Are money as a store of exchange value

Delivery time is only socially noticed universally when its a j tme till a job hire

The economics of scarcity Needs to focus on next job hire and next loan completion

Wait time in a transaction is heterogenious as to both del8very commodity and money payment

The wait time inhetent in the delivery time grid is often far less accounted for macroscopicly then the very carefully scrutinized payment time grid yo

Firms are globs of mutually adhetent particles with internal motors and minds

Firms generate and consummate transaction these are discrete actions with location and time pattern specificity

Stop the insanity : no more signal processing models of price and quantity data

Yes pq data aggregates flux in time and space But these are emergent particulate flocking behaviour Not deterministic waves Like neural nets produce Nor Brownian shocks jumble

Capitalism mirror world

We have a physical world where products are fractured and circulated And exchanged for notes The notee are the data that Found and inform The mirror world

Universal default insurance on marketed firm level securities

Avoid the pit falls emergent in savings and loan deposits in the 1980s Regulate market rates

Emergent convergence is Elmer Fuddish .....too much of the time

.....The latest set of Bugs never gets shot let alone killed

The paradigm of agency now supreme

The age of mechanism Was sublated by the age of agency Probably by 1980 If not sooner But the macro school of new classical Quickly assumed away its increase in realism aka degree of accuracy of model simulation By setting up single rep agency Which is not even simply instantaneous Convergence of agent info to a common pool That turned macro dynamics into Meta statics with random real " shocks"

The guardians of market socialism will be different of necessity from the frost giants of gosplan

Granular data on shortage and overage including resolution time estimates

Macro managers need to consider optimal employment as a discovery process

Pushing the envelope With a mark up price cap Would use physical shortages as The measured index We know systemic shortages Are not optimal But we have yet to investigate The zone edge where firm level viewed shortage and overage are in some fluxuating value ratio Are both common simultaneously To discover what macro combo is optimal Or even how to form such an index

Different economic class pov's mean different optimal rates of employment

Full has lots of meanings Sustainability is the usual Tacit qualifier But sustain ability measures come with Tacit Institutional preservations NAIRU was developed To guide employment policy Along lines considered capitalist corporate Best long run outcomes So much so At one point We saw " derived" metrics of over employment That ran as high as 15% unemployment In recovering Spain

Keynes on flex wage v flex "money policy"

"there is no means of securing uniform wage reductions for every class of labour. The result can only be brought about by a series of gradual, irregular changes, justifiable on no criterion of social justice or economic expediency, and probably completed only after wasteful and disastrous struggles, where those in the weakest bargaining position will suffer relatively to the rest. A change in the quantity of money, on the other hand, is already within the power of most governments by open-market policy or analogous measures. Having regard to human nature and our institutions, it can only be a foolish person who would prefer a flexible wage policy to a flexible money policy, unless he can point to advantages from the former which are not obtainable from the latter. Moreover, other things being equal, a method which it is comparatively easy to apply should be deemed preferable to a method which is probably so difficult as to be impracticable"

Contradictions between the liberal state and democracy

18th century formulation Benign despotism A despotic state party Is it incompatible with De facto Liberal values Mandate of the people ?

Pay boards and unions

Pay boards are state agencies insuring equal pay for equal work Unions are wage earners Self created organizations To struggle with Firm level management

Use it or lose it : part (n + 1 )

Pay it forward or backward That's firm autonomy Or build or hire or train Use all your surplus Or your accounts will be swept By the state Why Because all surplus value Like all surplus product is a social product Autonomy is about use choices not accumulation choices Those are the exclusive function of the state As guardian of the social surplus Under socialism and the mission to exappropriated the private exappropriations

It's now 1993 why isn't stiglitz calling for the same macro as Vickrey

Hey he's at the CEA in fact he becomes chief Why no counter attack on the new keynesian Paradigm ? And the pro corporate profiteer NAIRU doctrine ?

The other MMT : MODERN MICRO THEORY AKA AKERLOFF STIGLITZ MICRO

Lerner markets for equal work equal pay reducing wage dispersion by job category

How could a meta market for wage setting markets be built To gradually squeeze out wage dispersion While raise wage rates over time for each job type Goal a system that over time tended To uniformly Equalize .... system wide wage rates.... for Identical task bundles ............. ..... . A set of tasks may vary in proportions And task unit based rates look daunting The point would be to charge a fee for non equal rates for equal work Transparency is done qua non Of course But an equal pay board would set The categories and monitor compliance Imagine a warrant not to comply Would have a cost to employers Of course paying above norms would be rewarded Each off setting the other in total Hence the warrant exchange Much like exports dictating the size of imports

Corporate sector CO ordination markets aka Lerner markets

Price changes Employment changes Investment changes Etc etc All fall under Greenwald stiglitz paradigm of firm level externalities And thus Lerner markets

Hicks v kalecki

Comes down to them two Hicks lays a path to Corporate Capitalist hegemony Kalecki to job class liberation Social democracy as a practical political m9vement Essentially chose the easier non class struggle path Hicks That leads on to samuelson And his opposite FRIEDMAN

Rent flush : Pay it forward not back

System of state credit Where net periodic form level surplus revenue is paid out by discretion of the firm Pro rated by volume to customers An equal amount of existing FIRM debt to state credit system Is canceled

Socializing surplus value v rent flushing

Simply flushing rents into more consumer use value per unit of exchange value Is a key avenue of exploitation reduction Versus socializing extractions which may simply Socialize exploiters class expenditures Like property protection National security forces used to open foreign Markets for trade and foreign economies for safe exploitation based investments Is hardly a progressive step

Socialization of necessary v surplus value

Social democracy andvits tax and transfer system Captures and extracts necessary value as well as surplus value To the extent the state supplies pensions and insurance to wage class types This is intra class redistribution The dramatic increase in sales vat and payroll tax shares even as progressive income and wealth tax shares stagnate and or shrink The tax shares of n extracts v s extracts increases

Locke and ex appropriation

"Though the earth, and all inferior creatures, be common to all men, yet every man has a property in his own person: this no body has any right to but himself. The labour of his body, and the work of his hands, we may say, are properly his. Whatsoever then he removes out of the state that nature hath provided, and left it in, he hath mixed his labour with, and joined to it something that is his own, and thereby makes it his property. It being by him removed from the common state nature hath placed it in, it hath by this labour something annexed to it, that excludes the common right of other men: for this labour being the unquestionable property of the labourer, no man but he can have a right to what that is once joined to, at least where there is enough, and as good, left in common for others." Locke here clearly has no conception of the systemic theft of labor's exchange value rather then it's specific material form thru "voluntary " Mutual self interest Voluntary exchange turned into its Systemic opposite Note state of nature By contrast the state of civil society Presents opportunities for Appropriating the value produced By the work or part of the work of fellow humans

When equal pay for equal work collides with dispersed rates of exploitation

Ghost hunters type fun How much am I exploited v you

Exploitation rate dispersion

Can we measure exoitation rates Job by job firm by firm System by system ?

Comparative systems of exploitation

The capitalist paradigm Exploitation of free comodified Marketed laboring power By firms focused on profits of enterprise They commodity production by means of commodified factors But that system may be CO joined to many others obviously Keeping them clearly distinct remains a constant historiographical task Ending commodity production by commodities labor itself was a stage in social productions progress beyond exploitation Is Free wage labor based production Is the highest form of capitalism

1928 to 1978

In 1928 Soviet Russia embarked on a ruinous Agricultural development policy 50 years later Facing similarly Complex conditions peoples China was at the threshold of a superb agrarian development policy adventure Clio delivers

Atomizing the ghost of Ned Burke

Social systems develop their maculate intricacy Behind our backs So when we go radical scratch and build and build ground up New institutions The adverse complexities of the tasks performed by the prior institutional arrangements But hither to un fully recognized Prior to year zero Rise up to scare and miserize us Answer Audacity and more audacity Plenty of time in the future to sift thru our inadvertent follies To learn whats Really possible Always have faith Clio will give us Another turn at bat Look at imperial Russia in 1906 Another better opportunity Was only 11 years away !!!

The HHE PLEX

Health housing and education These three expenditure categories have run wild since 1970 They all are heavy quasi rent and pure rent sectors Lots and IP And rationed enlightenment Hierarchy a pyramid with fewer and fewer ladders to the next level

Like all great magic tricks ...the result is in the first step

Market worship Is not the great progressive blunder The game is lost before the commodity even arrived at the point of sale Production Systems Generate fundamental exploration methods As the producer approaches the market place To sell his time and skills The outcome is already over All but the fine details of concrete realization

End the possibility of unintended market consequences : Freudian micronomics

Rat ex is an attempt to enforce the spontaneous and free Open market system invisible hand By mass mind actions alone

Uncle debt management: a follies bourgeois

Trillions in obligations serviced with a smile But not using even a penny of tax revenue That is except for either negative real rates or a direct tax on " real " interest income form uncle debt Could we tax foreigners and corporations And not say pensions etc How much uncle debt is held directly By wage earning households btw

Universal default insurance and securitized firm debt monitoring

Obviously debt rating services become crucial for securitized debt Skin in the game thru performance screw claw back systems for rate setters that are in essence setting premiums At firm level No need for bank monitoring when markets will punish rating changes Firms shopping raters and insurers face a decentralized system Part of fire dome totalizator thru market activity not unilateral centralized administrative decision

Social production reproduction market mediated AND capitalist mediated

The double matters Markets and capitalists Markets alone might alone mediate production Where producers sell and but directly from each other Yes very elementary But not often clearly held before the eyes of system beholder A system mediated by a class of exploiters Takes on a certain range of coloration Capitalists seek out Profits Where organizing production Producers into wage earners Output market value Will exceed market input costs Inclusive of producers hired for wages

Scrip consoles ..

Zero real consoles Adjust face value of console to The current scrip to reserve money (say dollar) exchange rate

Open social systems and the State ; both markets and elections

Greenwald - Stiglitz emergent hierarchy within market systems

Firms are spontaneous emergent heterogenious hierarchic organizations The entire scope is surplus value Not necessary value In a Marxist paradigm Skill is just an intermediate input To raw labor Pre determined by the wage bargain in place at time zero

Love the toys boys ?

Why call them models When there's little proof the logic systems Reflect real activities Go ahead love the toys JUST don't pretend they lead on to class neutral policy thru The magic looking glass Of rationalist Analytics

Undoc s off shore and private equity. The three headed beasts of OECD social democracy doom

Public equity v private equity

Equity stakes conditioned by firm charters and firm regs Private firms privately held Are the Reagan era concocted surge of the jobs market places of OECD earth

Issuing zero real consoles v dollars

Spherical market system with and without partitions

Imagine a global market system Production for ever as a single system without barriers Now draw boundaries looking for a bounded area that would improve local welfare by autarcky Of course you have a given distribution of real elements conditioned by years and years of global free trade Now take an existing global broken into Existing bounded restriction zones And pull away the restrictions And after say 10 years try to find a boundable sub area that could improve welfare however measured by restricting trade More ...much more needed

Never confuse any

.any civil war on earth with the civil war in heaven

The debt service total has an impact on nominal demand and income and wealth but hey its all tcontrollable by taxation

The state can tax away anything Of course not without consequences But Lerner's point about Interest paid on borrowed funds Is only part of a complete set of circuits The rest of the circuits can be change too

It's all just a set of rules the state can play anyway it wants nothing costly here

Rentier income balloons Increase taxes on interest And dividend income Cut off the blood supply to capitalist corporations force them to use state finance State loans below state borrowing costs State red ink So what

Crowding out is a route to socialism

Public option for rentiers

Treasury paper with a high Coupon rate is cost less to produce It's all notions in a data base

Crowding out as a means to socialization of capital

Don't starve the rentiers Stuff them with high yield t bills notes and bonds Blow up private capital markets with high safe returns on treasury paper

The difference between money and a zero real console or tip-C

If the console pays out an inflation adjustment Obvious Conjecture If theres zero conversion cost At any time between tip-c and money This system is stable discounting money at the market weighted expected instantaneous inflation rate

CB buys all new debt then sells it .....

In our zero real safe rate regime Can safe rates on secondary markets go where ever they want ? Consider our fed console the tip-C Hold to maturity you get inflation protection If fed zero real manages Nominal secondary market safe rates If not then Treasury must issue Various term length Notes and bonds That insure inflation protection At maturity by periodic payouts of inflation compensation Zero real tips

Humanist gulag as labor sponge

The overt creditable policy for the humanist gulag Must be minimization Transitional Job Blight located Competitive without special subsidy Prices adjusted to market conditions So market share is as planned

How can a sub set of firms absorb the outflow from the rest of the social production system without accusations of boondoggle

Minsky state as employer of last resort humanist gulag or useless as wage spiral regulator

Minsky public job sector PJS Regulating market mediated job wages Has to cut PJS COMPENSATION as market mediated compensation rises This indeed mobilizes the reserve army of the idled TO productive activity BUT the flows in and out operate as a counter weight to job market dynamics Improvement over unemployment insurance Payments that move to counter The rise and fall of job market conditions What if the public enterprise sector is just a hunk of formerly nationalized private firms a cross section of all jobs included Public firms competing with private firms on Shared markets Modern public work houses

Pigou tax as an anti ramsey rule application

Activities unwanted with the highest elasticity Taxed first The goal minimum tax revenue maximum supply reduction

The state has the inherent essential authority to take and give

The state is no bound by Pareto rules

The state as agent of society can not steal but it can reduce social welfare

Private property protection is about Private to private interactions State ex appropriation to enhance social welfare Is an essential duty of the state

Pure Sunk costs and various instituted social systems of absorbing that cost

Why recover sunk costs When the funds were cost less And the alternative opportunities Are past execution Only social ranking of benefit potential matters prior to inciting the sunk cost With all the uncertainties that estimate involves Idleness is always the highest cost We learn nothing from idleness

Products need time to find their full.market.

This red ink interval is part of start up sunk costs

Commodity space and product space

Markets filterbpossible products by production costs plus development costs But market prices as the sole revenue for producing a product May be socially sub optimal One has to analyze what does not get produced in a simple market system for Non price reflected benefits Just like non price reflected costs But in addition what potential products are never produced as commodities Because fixed start up or development costs Exceed potential profits from sale of products at market prices

Special wpa

People's China needs a universal social wage system NOW!!

Start small Each citizen an account with a wage payment formula based on years of work Then issue a card useable like an atm card To everyone Next slowly pour in monthly payments Start small and build carefully But implement the mechanism asap

Pure credit capitalism

Securitized founding funds and all subsequent funding Phelps CONJECTURE that scarce funding sharpens investment choices among candidate investments Are CREDITOR mediated funds More value creating then owned findings The scattering of funding into isolated agent principal hands Home cooked meals over restaurant meals Is there some optimal switch point from self finding to outside funding Extracting operating profits To be re filtered improve innovation or dampen it

Phelps frydman

"Capitalism is a system of largely private ownership that is open to new ideas, new firms and new owners —in short, to new capital." " Capitalism’s rationale to proponents and critics alike has long been recognized to be its dynamism, that is, its innovations and, more subtly, its selectiveness in the innovations it tries out." " At the same time, capitalism is also known for its tendency to generate instability, often associated with the existence of financial crises, job insecurity and failures to include the disadvantaged."

Socialization in one state

Imagine a socialist take over by electoral hegemony of California Or Greece What can be done

Anti exploitation regs and supply v non supply regulating surplus value

Social wage and micro wage subsidies

Wage subsidies and taxation can partly regulate job choice and remove Unavoidable "dynamic " ie temporay inequities in market pay rates at the local level

Cutting pay v cutting hours after institution of a social wage system

Needs analysis

Public job option

In a job max system Any cap on public option jobs Must be automatic Local and calibrated To immediate job market conditions And opportunities Only.a market job max system Can avoid gulagization of the public job option The existence of union Pub sec jobs And civil service jobs Will cause constant struggle One way or other If the pub option Is not comparable wage To the public service job Boondoggle expose Time will.rain down on the ass hole innocent Voters in Choice elections

Credit algorithms for firm temp credit flows

The small firms need " a state of the market" Credit line from the local Short term public credit facility A counter cyclical line Of course

People's China growth slow dowm

To 2012 or so Averaging near 9 percent since Deng early 90's reforms Since then 6 plus Nearly I one third slow down Yes exports can no longer vent additional output at earlier rates So development must Feed domestic markets Clearly far far smaller And far far more diverse then export markets But where's the sector demand engineering To realize sales of full tilt output Changing production patterns on the run can't be so slowing can they Conjecture Non economic limits Perhaps even pure superstition guided macro managers Motivate this slow down ?

Absolute and relative default risk

Each firm's market of our own v the hydra market system

Every firm dreams of a monopoly or monopsony Competition is about knock outs Not heightened proficiency on all sides Markets must be constructed Where knock outs Lead automatically To a hydra response

Sublating firm bankrupcy

Escrow only skin in the game Combined with universal default insurance Can rely on a social credt system 100% For funding above met cash flow Recall social credit systems charge zero real interest And have o Auto modified principal payback terms

Surplus extruders

Producer surplus Force it to be Paid forward to customers Not as dividends or bonuses Electing to constitute outfit As a "pay it forward" Covenenter type

Escrowed deferred compensation the only skin in the game ? Adequate ?

Credit system sublation of corporate capitalism

Zero firm level earnings retention Once firms existence Is no longer connected to firm level balance sheets Only form level operating history .

Rent and full credit funding surplus extrusion

Pay it forward A rent extrusion market system Firms operating thru full credit financing and zero retained earnings ...... competitors compete by means of pro rated quarterly rebates to customers of all operating profits

Greenwald stiglitz pricing system

Greenwald stiglitz tell us simple one product one rate tax and subsidy systems are sub optimal Well Then We have sliding tax subsidy systems Based on individual Quantity accounting per prpduct purchase Per individual Modified charge and credit card systems could Approximate this Yes secondary trades Can in part crap on this

Robinsonian v Marxian exploitation

Robinson developed A model of exploitation Out of the marginal revenue Wage rate differential If an hour of labor at the external margin Adds value at the margin of MVA Then MVA minus the hourly wage rate W Determines the rate of expoitation E MVA - W = E Marxians determine exploitation as average revenue added minus the wage rate Where marginal does not equal average the two conceptions diverge

Creative exploitation

Innovation fueled by exploitation

Incomplete market systems: the legacy of laissez faire

Markets can regulate other markets Markets can be the missing third party Markets can.. ... The state may have to institute markets to complete market systems Yes free range corporations solely guided by firm level profits ARE pathological rogues Spontaneously emergent market systems can not optimally regulate static technical systems let alone dynamic technical systems

Dividend regulations should rely on tax credit from real investments

Imagine firms facing complete confiscation of net cash flow They of course can make real investments in real productive factors or research and development How much of cash flow can go to dividends And buy backs can firms buy and sell their their earned rations to each other Buy and sell dividend and buy back rights Maybe even market exposure building Should be limited like dividends

Innovation the highest form of added surplus ...

Not always a net gain How much innovation Never finds its adequate market Before funds run out or projects abandoned This market selection process is not random Buts surely filled with good and bad fortune

Quest for surplus

Gain at the firm level Obviously is not always an addition to social surplus In fact competition among firms can work to lower social surplus if losers become a source of idled factors And then there's zero sum games And red ink off sets combined with spoiled Unsold products And and and All about us is uneven Ness The interplay of red and black Surplus real social is built and wrecked By market struggle

Prodictivily Invest it or lose it

Firm level net cash flows Earnings plus depreciation Must be invested in added production facilities or sent into a sovereign fund Dividends are maxed ata fixed percentage of market value of outstanding equity

Meta markets

Meta markets are markets That organize and CO ordinate Firms market actions Example Lerner mark up markets Buffet import/export markets Paine investment tax credit markets