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